I plan to buy an investment house to save on taxes. My income is above $150k a year. I want to confirm that my passive losses on the property will not be deducted from my W2 income and will be suspended until I sell the property or have passive income. Is there a way to make passive losses from investment property be considered active for my personal tax deductions, possibly by creating a company that owns the house or through another method?

January 1st, 2023

I can't find my tax papers for 2021. I moved since then and don't know where they are. Can you send me a copy of it to do my taxes this year?

February 9th, 2023

Do I need to file taxes? I am 68 years old, located in Etoile, Texas, and I am unsure about my typical filing status and income for this year as I cannot find a tax statement.

June 11th, 2024

I am a U.S. citizen working abroad in Saudi Arabia and have a residence card there, but I only got it in October 2022. Can I use this for my 2022 tax exemption under the bona fide residence test?

April 18th, 2024

I received a stimulus payment on a card that wasn't active at the time it was sent and would like to get it sent to my bank account. How can I do this?

November 5th, 2024