In the state of Maryland, my husband inherited 2/3 of his mother's estate and passed away in July 2015. Does his spouse have the right to claim this portion, and if so, how should she go about making a claim on his share of the house money?

December 4th, 2024

We just opened an LLC in Texas with no employees and mostly export services outside the US. What are the sales tax implications for services exported outside Texas, and what federal and state payroll tax filings are required given no employees? Additionally, how should the company handle its federal income tax, including quarterly calculations, filings, and payments?

July 3rd, 2024

Can I start making quarterly tax payments in the 3rd quarter of 2015 using the IRS 1040ES, and if I start quarterly payments for the first time in Q4 2015, do I need to set up a special account or just pay using my social security number and the vouchers in the 1040ES? Can I also contribute unscheduled periodic payments within a quarter, and will starting quarterly payments at the end of the year result in a penalty automatically?

May 31st, 2023

I have a SEP money market IRA account and am planning to purchase a home for the first time. Can I use the money from my SEP IRA for this purpose, and if so, what are the tax implications? Do I have to pay the money back, and will I incur any fees from the IRS? What specific questions should I ask my tax preparer?

January 26th, 2024

We are considering installing solar panels on our primary residence. One source mentioned that 30% of the total cost can be used as a tax deduction and can be carried over to the next year if not fully used in the year of installation. Another source suggested that the expense can be added to the cost basis. Which is correct?

November 16th, 2023