asked
We sold a home in 2015 and sold the adjoining 38 acres of undeveloped land in 2018. The sale of the land was contingent on the buyers selling their home first. Will these sales have to be filed with the IRS, and if so, how should they be reported?
July 14th, 2024
Is it a good idea to spend down or give away my $62K IRA to avoid it going to a nursing home? I don't think I will need a nursing home for more than 6/7 years. Could I use it to pay down debt or draw more every month?
June 17th, 2023
I entered into a contract to sell 5 acres of land in Utah. The contract provided earnest money subject to a due diligence period, which was released in 2018. The contract expires in 2018, and I expect it to be exercised. How should I treat the earnest money received in 2018 on my tax return?
February 28th, 2024
We withdrew $140,000 from our 401k to pay for land and a home. At 20% withholding, how much more will we be responsible for in income tax, given that we file Married Filing Jointly and earn approximately $65,000 from employment?
June 2nd, 2024
What are the tax consequences for an American/French/Uruguayan citizen living in Spain over 6 years receiving an inheritance from a non-relative?
December 29th, 2023
I have a meeting with the IRS tomorrow about past due payroll taxes. They requested my 1120S from 2017, but I filed for an extension because I couldn't get my balance sheet to balance, particularly with the shareholder equity. I'm out of time and can't consult a CPA. What should I do?
October 29th, 2024