As a US citizen living in DC, I own a rental property in DC that I am selling. I plan to change my primary address to another country before the settlement. Can I avoid DC capital gains tax on the sale of my rental property by doing this, and how do I establish my new primary residence?

March 30th, 2023

I have been contacted by phone from 2 different numbers claiming I defrauded the IRS of $6,795.00 and threatening jail time if I don't pay by the end of the day. If I fight this, they claim I owe $200,000.00. I am on social security since 1999. Is this a scam or what? I have the phone numbers.

February 15th, 2023

My two brothers and I were bought out of real estate that was in a Trust, our total buyout was for $150,000.00 with an individual earning of 50k each. What kind of tax does this fall under? Is this just income or does it fall under short/long-term capital gains? We had the property appraised and it appraised at 545k, 1/3 of that is $181k. We took 150k for the buyout.

September 24th, 2024

I give my grandchildren $12K a year. Can I deduct this from my taxes?

June 2nd, 2024

What are the reasons a person can withdraw from a 401k early, and how does it affect taxes and penalties, especially if the person is on disability and has other income sources like a lawsuit settlement?

June 5th, 2023