asked
We are a legally married same-sex couple in California. We own two houses, one of which we live in and the other we rent out. We want to know if we can add each other to the deeds of our respective houses to qualify for the $500,000 tax-free capital gains exclusion when selling our primary residence, and how to go about adding a name to the deed.
July 2nd, 2024
Can a single member LLC convert its member's interest into a note to generate interest income for the individual, who is the single member, for the purpose of utilizing carryforward investment interest deductions on Schedule A of his 1040 while also using the interest expense on the LLC's Schedule C?
September 9th, 2023
My father has developed Alzheimer's during the past year. I have filled out his taxes for 2011, but he thinks he filed a tax return for 2010 but cannot find a copy nor knows any details. How can I find out if he filed a return for 2010 and if not, what is the remedy? What should I do and what might be his penalty? Also, do I sign his taxes for this year or have him sign them?
October 13th, 2023
I am a 1099 worker and my main client wants to bring me on as a W-2 employee. I need to know what salary to ask for that will match what I'm making now. How do I accurately compare my current 1099 compensation to my potential W-2 compensation for salary negotiation purposes?
May 3rd, 2023
My brother, a foreign national living in Germany, sold his share of a US property to me at a loss, resulting in a 15% withholding tax. What form(s) does he need to file to get a refund, and how does this relate to the withholding tax return I filed (Form 8288)?
October 9th, 2024
I am a US company paying individuals living in Mexico for professional services. Do I have to pay foreign taxes, and if so, how much? I understand there is a tax treaty between the U.S. and Mexico.
July 12th, 2023