We had 2 rental properties (duplexes) that we sold in 2006, and due to spiraling values at the time, we had to write checks at closing. How and where do we recoup that? It was never put on our taxes, but we want to get credit for it.

October 4th, 2024

I was laid off in Dallas on 4/1/12 and then hired by a German company in Germany on 6/1/12, where I became a German resident and was paid in Euros, paying German taxes. I was laid off again on 11/25/13 and moved back to Dallas to work for AT&T. Do I need to inform the IRS about the income I received in Euros and the German taxes paid in 2012, even though I don't have a W2 from the German company and they likely didn't send any forms to the IRS?

September 7th, 2023

How do I report the sale of business assets for $1 to the landlord in lieu of back rent, with a total equipment value of $642k and accumulated depreciation of $442k, on both the IRS and California returns, considering the client operates an S-Corporation?

May 23rd, 2023

As a company president, I did not take a salary for the first three months of this year. Should I account for this as deferred salaries on the books to reflect company expenditures accurately, and is there a tax event for the corporation or personally if the salary is unpaid?

September 9th, 2024

If I withdraw $35,000.00 from my account and do not roll it over into my own 401k, what is the tax and penalties I would incur?

January 8th, 2023