asked
Is sales tax deductible as a business expense, and if so, how does it apply when a vehicle is used 80% for business purposes and bonus depreciation is used for a luxury vehicle?
May 23rd, 2024
I won $50,000 in a raffle and have the option of a car valued at $46,000. If I choose the car, they want 25% of its value upfront for IRS purposes. What is the tax percentage if I choose the money, and why don’t they let you pay the taxes when you file the next year?
April 2nd, 2023
If I buy a hybrid car before January 1, 2006, will I get a tax credit? After January 1, 2006?
August 30th, 2023
My husband and I plan to sell our home and buy into a community where you pay a founders fee for your apartment. We will be making a profit of about $40,000 on our home, which we have lived in for about one and a half years. Will we have to pay taxes on the profit when we sell our house, and if so, do we file this at the time of the sale or when we file our income taxes at the end of the year?
September 23rd, 2023
My father is 88 years old with dementia. He paid $95,000.00 in 24-hour home health care for 2018. What is the maximum he can use for deduction on his taxes?
December 3rd, 2024
I dissolved my LLC and established an S-Corp. Do I need to start a new QuickBooks account for my bookkeeping and taxes (payroll, etc.) since I technically have a new company?
November 23rd, 2024