asked
In Rhode Island, must a property owner claim income received from a roommate who is staying in their home month-to-month? There is no rental or any type of written agreement. The roommate is trying to settle issues he alone has with the IRS, and they've asked for household income. He advised them that he's just "renting a room," and that I'd be unwilling to provide financial info. Could they come after me?
January 8th, 2024
If I owe IRS and state taxes due to a failed business, can I start another corporation with partners, and will the new business be liable for the back taxes, assets, or profits of the failed business?
August 3rd, 2023
For a general partnership, if I purchase equipment for $45,000 in a given year, can I claim both the cost of the equipment and its depreciation?
April 16th, 2024
I live in Colorado and am selling a rental co-op in New York City. I understand I pay a 6.1 percent non-resident capital gains tax. Should I estimate this amount before closing or wait for the exact figures when I prepare my taxes next year? What NY State form do I use? Additionally, how should I handle rental income and expenses with my co-owner, and can I pay my partner for work done on the co-op?
April 20th, 2023
If I change my withholdings from 1 to 3, will I receive more money in my weekly paycheck?
February 8th, 2024
As a pastor, my church pays 75% of my salary, and a second organization pays the other 25%. My church also pays the full price for health insurance through the second organization. Beginning in 2015, the second organization will switch to a Christian-based cost-sharing program that our church can opt into. I prefer to purchase individual health insurance through the government marketplace. The church would increase my salary for the premium and contribute to an HSA account. Would I qualify for a tax subsidy based on this situation?
December 18th, 2024