My wife passed away in October. Before her passing, we changed the deed on our rental property to include just me and three children. Do I claim 25% or 100% ownership this year? Before, the property was deeded to my wife and me, joint. Every year we filed jointly. Since IRS rules require I file jointly this year, and since my wife passed late in the year, do I claim 100% ownership of the property (and thus the gain/loss) or does the change in the deed immediately change the percentage I claim?
July 12th, 2023
Considering that my only income is my monthly Social Security check, how much would I have to win at gambling in order to have to file a tax return?
October 11th, 2023
What authority does the IRS have over a church with an EIN that does not have any employees?
September 18th, 2023
I am using TurboTax to file my taxes, and last year I paid AMT. This year, the app asks me if I want to refigure my AMT as I may get more deductions. The process requires doing a bunch of calculations by hand. What exactly is the 'refigure' AMT, and in what cases will I actually get more deductions? For example, if I earn less than last year, will this help or hurt my chances if I do the refigure AMT?
April 22nd, 2024
How to pay social security for yourself if the employer will not pay it for you and what are the consequences for not paying that for a couple of years?
March 22nd, 2023
As an outside salesperson who travels across 3 states, my company provides me with $2000 per month for hotels, meals, and other travel-related expenses. Can I deduct these expenses from my taxes, even though I receive this amount as a reimbursement or advance?
October 8th, 2024
I borrowed against my 401K and received a 1099 at tax time. I am paying the loan back but was still forced to pay $10,000.00 in taxes on the money because I could not get an amended 1099 from my company. Why am I paying taxes on this money if I am paying it back and how can I get back that $10,000.00 and get the company to give me an amended 1099?
March 25th, 2023
How long does it take for state taxes to get a refund if I filed at the beginning of February 2008?
August 26th, 2023
How do I claim a tax return/credit for a training I did in 2006/2007? I paid for the training, but my employer returned the money and issued a T4 (stating it as a taxable benefit). Is it claimable as a job-related expense, and under what heading should I claim it?
February 7th, 2023
Should I collect the prize in 25 annual payments of $2.948 million each (before-tax), or take a one-time lump sum payment of $41.4 million (before-tax) now?
April 30th, 2024