Where on the 1040 should I report the inheritance I received from my deceased father for tax year 2018, as the estate manager said I would have to pay tax and it was my responsibility?

November 9th, 2024

How should I advise my client, who is a shareholder in an S-Corp with multiple owners, on the timing and amount of distributions to avoid disproportionate distributions and maintain accurate shareholder basis, while ensuring compliance with IRS rules regarding S-Corp distributions?

October 17th, 2024

How can I change my voluntary federal income tax withheld to $0, and what is the address for the Evansville, Indiana Social Security office?

June 15th, 2024

A client wants to take money out of a surrender charge-free large annuity and set up 5 annuities, each worth $120,000, for his 5 grown children. He will pay taxes on the gain but wants to know if there will be additional taxes for his children if he transfers $120,000 into their names. If the children do not touch the annuities, will there be a tax consequence for them?

September 20th, 2023

How can I have my son, who is a dual citizen of the USA and Sweden, as a beneficiary on my IRA, and what are the tax implications and mechanics involved?

October 26th, 2024