asked
My mother is receiving $100,000 from the sale of a house that is in my sister's name. Does she need to pay taxes on this money if she puts it into something other than a bank account, and how does this affect her public aid?
June 5th, 2024
I have about $20K of expenses directly reimbursed by clients, which I include in my Schedule C income totaling $28K. How should I reflect these reimbursed expenses on my Schedule C? Should I create a new category called 'Directly reimbursed client expenses' or add each item into the appropriate category (e.g., travel, lodging, meals, etc.)? Additionally, how do I handle the deduction of meals, where only 50% of non-reimbursed meals can be deducted, but 100% of reimbursed meals can be deducted since I recognized 100% of the reimbursement as income?
April 15th, 2024
A 25-year-old full-time student who lives with his parents and has a capital gain income of almost $13,000 in 2017. Can his parents claim him as a dependent?
March 12th, 2023
I am a single grad student with a total income of $900 in 2017 from wages, no federal or state taxes withheld, and an additional $10 in interest. Do I need to file a tax return?
October 16th, 2024
We have a $6,000 energy credit due to my daughter and me, who are both on the title, but we don’t have a lot of federal taxes taken out. Can someone else, my ex-husband, claim this credit on his tax return?
April 15th, 2023
I have a recently established LLC in late 2017 with no income or debt. I opened a bank account under the LLC and have rental deposits going in, but the properties are still under my personal name, not the LLC. Do I have any tax filing obligations for 2017, and could the rental deposits in the LLC bank account cause any potential tax issues?
June 26th, 2024