I'm receiving a settlement check for back wages of $166,000, and they are deducting $63,369.52 in taxes. I want to reduce the tax taken out by 10-20k today because I know I have legal fees that will cover the difference when I file my 2017 taxes. How can I achieve this?

March 2nd, 2024

A client received a W-2 where line 1 and line 11 were filled out. Line 11 is for nonqualified plans. Is this treated as a W-2, and is the amount reported excluded from income on the NYS return subject to $20,000? Additionally, the client also received an RRB 1099-R with line 4 filled out. How should these be reported and are they also subject to the $20,000 exclusion?

May 27th, 2024

My mother passed away on February 3. She had no will and her only property is a home with an $87,000 mortgage and a sale value of no more than $107,000. I am in Minnesota and she has no other debt. How do I go about settling her estate, and how should I approach the bank regarding the mortgage?

February 4th, 2024

On my W-2, I have an amount in box 10 (dependent care benefits). Does this amount get added back to my income when I do my taxes, or does it get subtracted to arrive at the box 1 number? When I enter my information in my tax software, it increases my income by the amount in box 10.

September 30th, 2024

If I donate books to a library and they keep some and sell some at their annual book sale, may I take a tax deduction for all of the books I donated or just those that the library adds to their collection?

July 9th, 2023