asked
My father is 80 years old and I live with him, taking care of over 50% of his expenses. He has $30,000 in savings from a converted IRA. If I add him as a dependent, I get about $3,000, but when I do his taxes, he has to pay about $3,000. If I do nothing, he breaks even between state and federal taxes. Why?
April 25th, 2023
I need an identity protection pin. Where am I currently located? How old am I? Do I have any dependents? What is my typical filing status? Do I know roughly what I made this year? Is there anything else the Accountant should know before I connect?
May 27th, 2024
I bought a house in 2014, lived there until 2018, and then rented it out. If I move back now for another 2 years, can I avoid capital gains tax when I sell it?
March 29th, 2024
I want to show the bank a lot of income on my Tax Return to qualify for a mortgage. I have an S Corporation with expenses eligible for Section 179 Deduction. Section 179 will minimize the Bottom income on the personal Return because it's reported on Sch. K1. Will I Qualify for a mortgage that way?
September 22nd, 2024
I need copies of my tax returns from 2020, 2021, and 2022. Where can I find these, and how can I obtain them if they were filed online but not printed?
April 26th, 2023
I received a 1099 Misc from my business insurance for money they gave me for a flood in my business. I have an S Corporation. Do I have to report it as income, and how should I handle any potential tax deductions for the loss?
May 9th, 2023