I have two businesses, Business A (a professional S Corp) and Business B (an LLC with a commercial real estate property). Business B has a mortgage loan with Apple Bank. Can Business A pay $100k toward the principal of Business B's loan directly to Apple Bank to avoid personal income tax on this amount?

October 24th, 2023

I am a 33% shareholder in a C Corp. established in Irving, Texas. The shares were issued to me in 1994 at $1 per share. The company is going to buy my outstanding shares, and I would like these payments to occur over multiple years. Can the agreement be structured such that all earnings to me are considered to be 'long-term' capital gains?

October 7th, 2023

I received a verification letter for my 2019 tax return and gave it to my accountant, who is now very ill. I also cannot locate my copy of my 2019 tax return. How can I obtain a copy of the verification letter and my tax return for 2019?

January 19th, 2024

I'm 68 years old and have a 19-year-old son who is a full-time student for five months out of the year. He did not attend college full-time in the fall because the dorms were closed. Can I still claim him as a dependent, or do I have to file single?

August 29th, 2023

How far back do banks look into credit card history for refinancing or home purchase transactions, and is it beneficial to refinance now to lower monthly payments even if we plan to sell the property in a few years?

July 3rd, 2024