Mom and Dad are in hospice. They have a trust to give their home to my sister and me upon their death. My sister is on Medi-Cal and I am not. Will the state/feds need to recapture my sister's medical benefits before giving us the proceeds to their home?
December 5th, 2024
Trying to enter a Journal entry in QuickBooks for our 3rd party payroll service and need to account for the employees' Simple IRA deduction, PFL, and DBL. How should I structure the journal entry to ensure it balances and allows for reconciliation?
April 24th, 2023
I became the trustee of my family trust fund with Alliance Bernstein in 2005 after my brother's death. I have managed the yearly information with my other assets. This year, H&R Block attempted to complete the Trust Fund form for my taxes, but I only have the last four digits of the account number. Alliance Bernstein informed me that only the IRS can provide the full account number. How can I obtain this number to complete the form on time?
April 19th, 2023
How do I make a payment plan for my federal tax debt?
December 14th, 2023
Will the equity section of an S-Corporation, which has Additional Paid-in Capital of $219,000 and Capital Stock of 1,000, have any of its components zeroed out when closing out the Assets and Liabilities?
September 3rd, 2024
For sales tax purposes in NY, should I consider the actual amount received from Groupon as my taxable income, not the gross amount reported on the 1099-K form? Also, can I pay sales tax annually for the period from January to December 2023 if my business qualifies? Additionally, for my 2023 taxes, should I report the income as the amount on the 1099-K and then deduct Groupon's commission as an expense? If I'm self-employed, can I deduct my own salary as an expense?
January 29th, 2024