How are the $300,000 legal fees and $25,000 expenses taxed, and how can I minimize the tax consequences? How is the lease for my office space reported on my income tax returns, and what are the tax differences between leasing and buying the building? Should I pay off my mortgage, sell my house, and buy a new one, or just buy the new house after selling the old one? Do my jewelry-making activities constitute a trade or business, and should I establish a separate business for tax benefits? Does using my car primarily for transporting jewelry affect my tax deductions? Is it tax-wise to invest $15,000 in new jewelry-making equipment?

May 5th, 2024

I am divorced and was wondering if I can file Head of Household using my son and can his father file child tax credit?

September 4th, 2023

I have a 2013 personal and 1120s return to file. Can they both be electronically filed now?

November 13th, 2024

Can you prepare an income tax return for my sister and brother-in-law's 2010 income tax? My brother-in-law is disabled, and I have been waiting for a tax expert to ask me details about the preparation, such as W2 information.

February 19th, 2023

I missed my 403(b) payment on time, causing the loan to go into full default for $8,000. What are the tax implications and penalties at tax time, and what can I do to mitigate these consequences?

April 13th, 2023