How much can a business owner, who is also an employee on his business' payroll, contribute to his company's SIMPLE IRA?

May 31st, 2023

How much can a high wealth matriarch gift to her children in 2015, considering she had previously gifted up to $5M per child, and how should this be reported on Form 709?

May 20th, 2024

I am a military member who owned a condo used as a primary residence for 20 months and rented it for approximately 4 years due to military orders. Does the 250,000 capital gains exclusion apply pro-rated to (20/24) x 250,000, or do I not qualify for the exclusion?

September 16th, 2023

I am 49 years old and have been unemployed in 2015 with zero income. I am considering withdrawing $10,000 from my 401k to pay for elective medical issues not covered by insurance. I believe this amount is below the income threshold for filing a tax return and that penalties for early withdrawal from a 401k are waived for medical reasons when no other funds are available. Can you confirm if this is correct and explain the tax implications of this withdrawal?

February 8th, 2024

When a family member gives a gift check, is the max 12k or 14k annually? Is that taxable to the recipient? Is this considered income? Also, are small personal injury settlements taxable?

December 27th, 2023