asked
If you rent out a space for a studio for business and that is the only thing done there, can we write off the entire rent? We are renting out our basement room for my son to conduct his studio business in. Can he deduct the entire rent for the studio for his business?
August 7th, 2023
If my first stimulus payment of $1200 went to the Attorney General for back child support, is that considered me getting the payment?
June 8th, 2024
How can I change my bank account information with the IRS?
January 13th, 2023
I have a United States tax question. During 2020, I contributed to an IRA with the hope of deducting the contributions from my income. I worked for a company that offered a 401(k) for a month in 2020, and the rest of the year for a company without a retirement plan. My modified AGI is over $124,000. Since I worked for a company with a qualified retirement plan and had AGI over $124,000, I don't think I can deduct the IRA contributions. Do you agree? Can I transfer the IRA contributions to the 401(k) to make them deductible? Does it matter if the transfer is made in 2021? My goal is to have the IRA contributions deductible on my 2020 tax return.
February 19th, 2023
I have purchased vacation ownership in Mexico through a large resort company with multiple locations. I originally purchased in 2017, but have upgraded several times over the past 3 years. We now have a significant investment in their vacation ownership and it is now considered a fractional ownership. I just discovered a Form 8938 and didn't know if it applies to me?
October 24th, 2024
I have not received my $600 Stimulus check yet and my bank account is closed. How can I get it, and what should I do if my information is not recognized by the IRS portal?
April 24th, 2024