asked
Last year, I started a business on Amazon as a seller. I took out a loan of $10,000, bought goods in China, and brought them to the United States to a warehouse. I ended up selling very little, and Amazon returned the unsold items to me, leaving me with a debt of $5,000 to Amazon. Can I write off this loan as a business loss, and how?
October 13th, 2024
Do I need to file taxes for the two weeks in December 2022 when I arrived in Canada before the start of my MBA program in January 2023?
August 9th, 2024
I made energy improvements to my principal residence by installing solar panels in 2023. I signed the contract and loan in 2022. Can I claim the 30% tax credit on my 2022 tax return by including the total costs/financed amount?
December 2nd, 2024
I have a question about the distribution of inventory from a closing corporation. The sole shareholder receives all the inventory of the closed corporation. He has no basis in his stock. Should I put the value of the inventory at cost as a liquidating non-cash distribution on a 1099 DIV?
July 23rd, 2024
If someone retired and wants to exercise Net Unrealized Appreciation (NUA) due to large capital gains from owning company stocks, how long do they have after retirement to exercise the NUA?
December 1st, 2024
I didn’t receive my tax return last year and was supposed to receive a letter explaining why, but I never did. What steps do I take to receive my return?
March 29th, 2023