asked
My mother had put my name and my brother's name on her house deed in 12/01. She continued to live there until her death in February 2006, and we have just sold the house. Do we have to pay any kind of tax on this money or is this considered an inheritance?
January 6th, 2023
As a business owner of a C corporation, how can I pay my kids' private school tuition in a way that is advantageous in terms of lowering tax liabilities and maximizing pre-tax dollars, while keeping as much money for my family and less for the IRS? My wife is an officer of the corporation but does not take any income, and my kids are not employees of the corporation.
February 10th, 2023
Can I file taxes for wages earned in the first 6 months of 2007 instead of waiting until the end of the year? My employer uses a certified public accountant for payroll, and I'm aware of my deductions. Will the CPA need to be contacted for this?
November 15th, 2024
I purchased a restaurant business for $45,000, with $8,000 allocated for equipment. How should I book the difference of $37,000?
September 20th, 2024
I paid off some bills on my credit report. Why is my credit score getting lower?
November 8th, 2023
Can my offspring pay the mortgage on a property in my name without it being considered income to me, and is it legal for them to send the payment to my bank account and then have the mortgage company withdraw it from my account? Additionally, will this arrangement raise any red flags with the IRS, and who pays the gift tax if any?
February 28th, 2024