How can an individual who sold a real estate investment property pay the least amount of capital gains tax, especially if they have a business managing the rental property and want to accrue the sale to the business instead of themselves?

January 1st, 2023

Can I direct deposit my tax return from the IRS into someone else's account who doesn't have the same last name as me?

July 16th, 2024

If you are a farmer and purchase and depreciate 100% business use of a truck, what are your record-keeping requirements?

February 26th, 2024

The CA Franchise Tax Board sent a notice of balance due for LLC tax for years 1999 and 2000, which is the first notice received in 13 years. We no longer have documents proving whether we paid or filed the tax returns. Is there a statute of limitation that prevents the Franchise Tax Board from collecting something from over 13 years ago? FTB is asking for over $4,600 in fees, interest, and penalties. Is there any way to negotiate with FTB to reduce the amount owed?

June 14th, 2023

Can costs of property and liability insurance, electricity usage, maintenance, and repairs for land and lake cabins used by beneficiaries be included on line 15b of Form 1041, and if not, are there any other deductions available for these expenses?

April 9th, 2023