asked
My daughter works at a bar and receives cash tips and cash for hours worked. Her employer refuses to provide paper paychecks or W-2 forms. My daughter has not filed a tax return for 2016. She claims to have discussed this with her manager, but I suspect there is peer pressure to keep it all silent. How should she report her income, and will this get her in trouble with her job?
April 2nd, 2023
As a sole proprietor, I paid myself wages as if I were an employee (W2 wages). I understand this is not correct and want to know how to rectify this for tax purposes. Should I amend my returns to exclude these wages and employer taxes from my net income calculation, or is there another way to correct this without amending?
April 16th, 2024
How do I plan for 2018 federal taxes if I have $150,000 in annual medical expenses for my wife and a gross income of almost $200,000, mostly due to a long-term care policy that pays over $120,000 annually?
April 9th, 2024
I am looking into purchasing a 2018 Chrysler Pacifica Hybrid. My question is that if the 2017 model is on the IRS website, why is the 2018 model not on the website?
December 19th, 2024
My husband and I are filing jointly. He had custody orders in Louisiana where his ex-wife was the residential parent. She abandoned them in January, and he has had physical custody since. In November, the Louisiana court documents became void, and he is now the primary parent. Can he claim his children, and how do we ensure his ex-wife doesn't try to claim them on her taxes?
January 24th, 2024
My mom died in March this year. I received $25,000 worth of AT&T stock in June. She had held it for many years. What is her cost basis? Does receiving the stock count as income for me? Should I have paid estimated tax? I need to sell about half due to many expenses. Do I need to wait one year to defer paying taxes?
March 10th, 2024