If a couple is to file separately and lives in a community property state, how do they follow the community property roles? Specifically, if one spouse makes much more than the other, can they just put everything together and divide them by 2 for each person's separate tax return?

October 30th, 2023

If I have a new business with expectations of being able to contribute for the foreseeable future, fund a plan with $18,500 voluntary + $82,500 as 25% of net profit in 2018, but then take a job and am unable to fund it in 2019... is there a DOL/IRS issue with dissolving the plan in 2019, and distributing funds into an IRA?

January 3rd, 2024

I tried to pay through the IRS website twice, and they have not taken my payments out of my account, but I have 2 confirmations of payments scheduled. What should I do to get these payments credited to me for the correct date?

June 18th, 2024

I am working on a client's Form 990 where the organization uses a fiscal year for its accounting period, but the payroll summary (W-2) is for a calendar year. I am struggling to reconcile the fiscal year payroll report with the calendar year numbers. What should be done in this situation?

December 4th, 2024

We sold our investment property that we had for over 10 years for $400k. The original cost was $305k, and we spent $100k to improve the property for rental purposes. Upon sale, the state took $26k for capital gains tax purposes. How do we calculate the capital gains?

May 13th, 2023