What are the returns on treasury bills, notes, or bonds compared to money market accounts and savings accounts, and are there any tax benefits associated with them?
July 27th, 2023
I inherited a property from my mom after she passed away in 2009. The property market value was less than $100K at that time. Now I want to sell the property, and its market value is greater than $100K. I want to bring the money back to the US after the sale. What are the tax implications and what documents or forms do I need to report this?
August 25th, 2024
What is the federal tax treatment of 'Indirect Damages' received for a forced land sale due to eminent domain, specifically regarding the $134,300 compensation reported on a 1099-MISC?
November 1st, 2023
Can I deduct the mortgage interest, property tax, and PMI for 2011 and 2012 if I did not pay them in those years due to financial difficulties, but later paid them in 2013? Should I amend 2011 and 2012 tax returns or include these deductions in my 2013 tax return?
August 25th, 2023
As a landlord, how detailed should I keep my expense records, and is there a minimum expense requirement for keeping receipts? Specifically, can I log expenses by project instead of itemizing each receipt, and is there a minimum requirement for keeping receipts for food and entertainment expenses?
June 30th, 2023
I filed my tax returns for WI 2013 and received Medicaid and food stamps for that year. I made $20,000 with 3 children, inherited a house that sold for $37,500, and received $15,000 in child support. I did not report the house sale to the state and believe they are now auditing my return. Can they demand the return of their money for state aid, and how should I handle this situation?
May 22nd, 2024