asked
My friend has a business where they have loaned money to an individual where the loan will be paid back in monthly installments plus principal. They had an attorney write up a contract and promissory note. How will this work for him on taxes and is there any tax advantage available whereby including any specific language in the agreement for tax purposes?
August 17th, 2024
I am a first-time user and want to prepare a 2022 1040 for my daughter. How do I sign in to open an account—in my daughter's name or mine—and how do I set up a username? My daughter is single, has no income, three dependents, one in college and two under 17. My goal is to file to get the refundable Child Tax Credit for the two younger ones.
June 3rd, 2023
As a US Green Card holder and Swedish citizen, if I take a temporary contract job in Norway earning about 20,000 USD over 8-10 weeks and am taxed 25% in Norway, will I also need to pay taxes in the US, and how will this affect my overall tax liability?
May 9th, 2024
I have 8 kids, all under the age of 14 and adopted for 7 years. When I tried to file my taxes, my tax form was rejected because a Social Security number (SS#) had already been submitted on another tax form. I have to submit several times, removing one child at a time, but it doesn't work. Now I have to mail in my tax forms, and the last two times it took 12 months and 14 months to resolve. What should I do to resolve this issue and prevent it in the future?
November 24th, 2023
I sold my house in Ohio before moving to California. I acquired the house in 2019 for $149,000 and sold it for $230,000 in July 2022. How do I claim this on my taxes?
May 8th, 2024
In our family LLC, distributions were initially based on each partner's tax liability. After a couple of years, the accountant changed this to carrying the debt as Loans From Partners on the LLC income tax since 2014, without any promissory notes or official filings. Can the heirs of a previous member come after the other partners for this debt?
May 11th, 2023