asked
My wife does a lot of gambling online. We received a W2-G for $4,519, but our win/lose statement shows a net loss of -$5000. The statement also shows CoinIn ($350,000) and Coin Out ($345,000). Do I need to report $350,000 in winnings, and how should I handle this for tax purposes?
November 13th, 2024
I need my IRS PIN number because my tax filings are being rejected due to its absence. I am 64 years old, single, with no dependents, and my income includes SSI. How can I obtain my IRS PIN quickly?
September 18th, 2024
How should I record the journal entry for a building purchase where the total cost was $800,000, including $29,768.09 in taxes and $9,434.14 in seller expenses, and the loan amount was $760,797.77?
June 16th, 2024
I would like the amount of last year's return so I can file. I am located in Quechee, VT, 58 years old, single, and have no dependents. What is my typical filing status, and do you know roughly what I made this year?
July 28th, 2023
Do I have to file Form 1041 for an estate with an EIN, or can I file the deceased individual's final Form 1040 instead?
February 2nd, 2023
I own 50% of my medical practice. My 2 business partners are 25% owners each. I'm receiving part of my compensation as payment through the company of a LOC that I was paying prior to forming the partnership for expenses related to the start-up. The LOC will be paid off in 2 months. What are my options to continue to receive this compensation, other than receiving a direct payment (with tax consequences)? Can I use the LOC in any legal way to continue to have the company pay for this and therefore avoid the direct compensation with its tax consequences?
October 6th, 2023