I am a W2 employee with a consulting company and work as a home-based therapist, using my home office for all administrative and managerial aspects of my work. Does this qualify as a 'Principal Place of Business,' and if so, can I claim all of my commuting miles and tolls, in addition to miles and tolls when driving between clients?

April 17th, 2023

I have $22k in rental property losses and qualify for all the conditions for the special real estate passive activity loss. Should I file Form 8858?

January 31st, 2023

Does a taxpayer with a Social Security Card that reads 'NOT VALID FOR EMPLOYMENT' and has two dependents qualify for the Earned Income Credit (EIC)?

November 18th, 2024

I am working on a trust return with depreciation on a residential rental. The program wants to pass this through to the beneficiaries, which I think is right, but did not do this the prior year. This is the final year, and I am not sure how to present it. Should the depreciation be part of the final year line rather than separately stated on line 9 of the K/K-1?

January 7th, 2024

I own a business. After a terrible storm on January 20th, my office flooded and I lost everything, including all electronics, paperwork, records, and files. I have a state audit scheduled for tomorrow but have no records to show. What should I do?

June 6th, 2023