Kristopher B. asked
Is there an issue if you give an interest-free loan to your S corporation, as long as you document the loan and give it a specific date to be paid back? Do you have to charge interest on the loan?
November 2nd, 2023
Matthew M. answered
Yes, the Internal Revenue Code requires you to charge, record, and report interest on the loan if th...
November 2nd, 2023
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If my wife and I don't contribute to our child's college expenses, which are financed by student loans in her name and paid by relatives, can either of us take educational credits if she is our dependent? What if she is not our dependent, can either of us take educational credits?
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Is a cash payment to Online Trading Academy in the first year considered part of my startup costs or an ordinary expense for professional training, especially if I started the business in 2015 and only engaged in the training and opening a trading account that year?
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How do I add my wife to my corporate bank account without making her an officer of the company in Kansas, where only healthcare professionals can be part of a PA corporation? My wife is a licensed massage therapist.
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Me and my business partner, who are both US citizens and not married, own a property in NYC. We plan to sell it, and the capital gain is about 1.6MM dollars. How much is the tax break, and what is the applicable capital gains tax rate for individuals?
October 10th, 2023
I have used TurboTax from 1996 to 2015. How do I access my tax returns in archive?
May 18th, 2024
