We sold a second property that we used as a summer home for over 65 years. What form do I use to report the sale, and can the repairs and renovation costs we spent over the last 50 years be deducted?

June 7th, 2024

In Illinois, can I claim my 24-year-old son as a dependent on my taxes if he lives at home with my wife and me, and he wants to claim himself?

April 28th, 2024

My CPA filed my 2013 taxes late in August 2014 without filing an extension, which was supposed to be done. They amended the taxes later due to a potential 20k tax cut, but the IRS stated no extension was filed, so we can't receive the tax break. Is there anything I can do?

November 14th, 2024

I live in California and will be receiving a $45,000 settlement plus $25,000 for my car (lemon law). What do I need to keep aside for federal and state (CA) taxes?

June 13th, 2023

I live in NYC and am withdrawing $67,000 from my prior employer's pension plan as a lump sum. They are automatically withholding 20% Federal tax and I can elect for an additional 10% early withdrawal penalty, totaling 30% to the Federal. They are also asking if I want state tax withheld, but I don't know the percentage. Can you help?

May 26th, 2024