asked
My great-grandparents have passed away and left a trust with a house worth approximately $900K to my grandfather and his brother. They plan to sell the house and split the profits 50-50. I want to buy the home from them, paying $450K to my grandfather's brother and having my grandfather hold a note for the remaining $450K until I sell the house. Will this arrangement change their tax effects compared to selling to a third party?
April 13th, 2024
Can an employer reimburse employees for uniforms and add this reimbursement to the W-2 wages, making it subject to Social Security and Medicare taxes for about $125 a month?
December 6th, 2023
If I live with someone who has children, can I claim them on my income tax?
August 26th, 2024
I earn 4408.51 and received 10102.00 in unemployment. I have 2 kids and am the head of household. Will I qualify for the Earned Income Credit (EIC)?
September 15th, 2023
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July 13th, 2023
Would we have to pay taxes on the sale of our home if we have lived there for only 2 and 1/2 years and plan to reinvest the profit into another home?
January 19th, 2024