My sister, who has been disabled since 2011 and receives $1,469 per month in SSD, has a financial situation where her rent is $1,960 per month. She owes me a significant amount of money and also has a large federal tax debt from prior years. She has a 401k plan with $70k, which is her only asset for retirement. Will the IRS want to take her 401k plan? Should she pay me back from the 401k plan before I reach out to the IRS?
November 6th, 2023
I'm working full-time and want to start a business on the side using my current income to make relevant purchases and pay appropriate expenses as I start developing the business. What are the tax ramifications of this? Would I be at risk of double paying my taxes from my income and from the business?
November 13th, 2023
I filed my taxes already, but they haven't been accepted yet. I need to change the direct deposit information. How do I do that?
September 1st, 2023
We filed Form 1120/5472 for the year 2019 in May 2020, but our single-member LLC incurred a net loss in 2019 and did not receive any Form 1099-K. We learned from a CPA that if the LLC earns a net income below $400, filing is not mandatory. Please clarify.
July 16th, 2024
Use Turbo Tax. What specific question can I ask?
June 5th, 2024
What are the standard deductions for people working from home during the pandemic, and can any expenses related to working from home, such as utilities or computer costs, be written off?
September 18th, 2024