| Subject | Date Asked |
|
| Estate Tax | 11/17/2009 |
Q: Good day to you, I would like to find out the amount of estate taxes that was paid on my mothers' ...
A: Nicole: All records of an estate are filed with the court that had jurisdiction over your mothers ...
|
| 2007 1099B* | 11/15/2009 |
Q: We just received a notice from the IRS that we under reported our income in the amount of 25,000 for ...
A: Jim: It is possible that the account made $5,000.00 in profit and the profit was over looked by ...
|
| Capital gains on gold coins | 11/13/2009 |
Q: I'm a financial advisor with a client that wants to sell some gold coins he has held for a few years ...
A: Brendan: If the argument is good the IRS could allow coins to be treated as an investment. It all ...
|
| designated funds | 11/11/2009 |
Q: I have read much on the designated funds in the church, and I have spoken with two different IRS ...
A: Stephen: If the church is the umbrella overseeing different projects (programs) and all the ...
|
| s-corp liabilty? | 11/10/2009 |
Q: I was recently audited (am an S-Corps) by state of VA and had several people who did work for ...
A: Mr. Allen: I have seen this situation many time before. Now your federal 940 and your state ...
|
| 1099 and NYS unemployment | 11/5/2009 |
Q: I have worked the last 2 years for an individual as a 1099 contractor (administrative assistant); ...
A: Ms. Klein: I assume that you have not file unemployment tax reports on your wages/earning. I also ...
|
| 1099 and NYS unemployment | 11/4/2009 |
Q: I have worked the last 2 years for an individual as a 1099 contractor (administrative assistant); ...
A: Ms. Klein: Your employer can not make you sign away your right to be treated as an employee. You ...
|
| GE tax | 11/3/2009 |
Q: How does the state department of taxation keep track of rental income from a single property, other ...
A: Gary: Each state receives electronic feeds from the IRS on certain lines of individual, corporate, ...
|
| personal tax | 11/2/2009 |
Q: Mr. Tidwell, Can you give me a list of items that I can write off. Anything for being a home owner, ...
A: Carrie: Generally your home write off is mortgage interest and property tax. Medical would be ...
|
| Taxes on a lumpsome payment | 10/23/2009 |
Q: Good evening Mr. Tidwell, I have a question. On a $10,000.00 (Ten thousand) dollar lumpsome ...
A: Joe: If the settlement was back wages then it will be taxable and the employer will be required to ...
|
| Sales Tax | 10/15/2009 |
Q: I recently had a granite counter top installed in my kitchen A number of companies, Home Depot being ...
A: Mr. Pontillo: That may be true for your state. Sales tax and what is usually taxed is different ...
|
| 1099 and Unemployment | 10/13/2009 |
Q: I live in Ohio, I was laid off about 8 months ago and have unfortunately been living on ...
A: Jack: Yes you can claim unemployment. However, they probably will fight it. It all depends on ...
|
| Withdrawal from Rollover IRA | 10/12/2009 |
Q: I am disabled and have run into some financial hardships. I would like to withdraw some money from ...
A: Shirley: Unless you are 591/2 years old or older and the reason you need the money does not qualify ...
|
| Unemployment | 10/12/2009 |
Q: I am not sure if you are the correct person to ask but I am not finding any answers so here goes. My ...
A: GiGi: I am sorry but your bother has taken himself out of the ability of drawing unemployment. ...
|
| 1099 misc vs Self employed tax | 10/8/2009 |
Q: I am Native American and for years have received a 1099 misc form for Casino profits. The amount I ...
A: James: I do not know how to claisfy it. Its on a 1099 therefore it can not be other income. It is ...
|
| employment abroad | 10/8/2009 |
Q: I am a US citizen and work abroad for an international company. My salary is below $ 90.000.00 ...
A: John: If you are physically present in a foreign country for 330 full days during a period of 12 ...
|
| Taxes on Severance | 10/6/2009 |
Q: At the end of last year, the company I worked for, in a downsizing effort, closed our office and ...
A: Steve: I know it does not seem fair, however, the company gets to set the rules for what will be ...
|
| Unemployment benefits | 10/6/2009 |
Q: I am living/working in Illinois for the past 20 years and have never applied for or received ...
A: JS: I can not answer that question. You may owe taxes in both states. You will need to look at a ...
|
| Full Time Student requirements | 10/6/2009 |
Q: I have been unemployed since April 10, 2009, I started attending Brown Mackie College for an ...
A: Robert: First if you file a joint tax return it makes no difference who files head of household. I ...
|
| Unemployment benefits | 10/5/2009 |
Q: I am living/working in Illinois for the past 20 years and have never applied for or received ...
A: JS: Haveing a Louisiana drivers license will not effect your unemployment. You probably will be ...
|
| dealing with unemploment dispute from another bussiness | 10/5/2009 |
Q: we had an employee that worked with us 5 months then he walked out on the job and then went to work ...
A: Nicole: I believe the reason and what you must defend have gotten commingled with the claimants ...
|
| contract labor v employee | 10/5/2009 |
Q: I am a rancher who has hired a worker as a contract laborer at $10/hour. He will be working for me ...
A: Molly: When you start directing, providing tools, supplies, and transportation it quickly becomes ...
|
| Tax Lien on a Corporation | 10/4/2009 |
Q: My father passed away and his corporation has had tax liens filed for back payroll taxes. Will ...
A: Cindy: It appears your question could be best answered by an attorney. Once the reports are filed ...
|
| Taxes and money from Joint Account | 10/3/2009 |
Q: My mother added me to her checking account in a local bank and a savings account in a credit credit ...
A: Mr. Crandall: The $75,000.00 is not your money until the estate is settled. Even thought you were ...
|
| reportable income | 10/3/2009 |
Q: I am married and am thinking about watching a child in my home. I want to do this legally. Do I have ...
A: Julie: As always, would not know the amount until you file your return to see how what you earn ...
|
| family employment - volunteer | 10/2/2009 |
Q: I have a DBA as sole prop located at my home. for the past year I have employed my sister as an ...
A: Anna: Generally, no you should not have claimed her as a dependent. When a person turns 18 they ...
|
| Taxes and money from Joint Account | 10/2/2009 |
Q: My mother added me to her checking account in a local bank and a savings account in a credit credit ...
A: Mr. Crandall: Her personal return that will be filed for her up to her date of death will report ...
|
| Fifteen. | 10/2/2009 |
Q: I am 15 years old and recently my teacher mentioned something about us as students with part-time ...
A: Mackenzie: I do not know your situation so therefore can not form an opinion based on your ...
|
| dividend tax rate | 10/1/2009 |
Q: Why are my qualified dividends (line 1b on Form 1099-Div) reported on my 1040 line 9b and tax at ...
A: Mr. Lang: It was my impression that qualified dividends tax rate was 5%. However, I can not guess ...
|
| Sec 179 Depreciation and a multimember LLC | 9/30/2009 |
Q: I run a greenhouse business and have a 10% partner in the business. I am going to depreciate the ...
A: Danny: You must follow IRS rules when depreciating buildings and equipment. If your LLC is set to ...
|
| Qualified or non-Qualified? | 9/28/2009 |
Q: I sell annuities and my client wants to move some money that is in savings bonds and a CD into this ...
A: Jim: The question you must answer. Is the client presently reporting the interest earned on the ...
|
| capital gains deferment | 9/27/2009 |
Q: in April I filed for a 6 month extension and so I'm about to file my 2008 taxes at the moment. I ...
A: Dave: I do not know what is on your entire return, therefore, I can not form an opinion whether or ...
|
| Corporation tax question | 9/26/2009 |
Q: I purchased a corporation ownership in 2008. How I can report changing ownership in corporation 2008 ...
A: Steve: A corporation stands alone. A corporation is a fictitious person and has no OWNERS has only ...
|
| Basis for Capital Gain | 9/25/2009 |
Q: When I sell a property that I received as a gift is the basis for capital gain or loss zero when I ...
A: Jerry: You are given a property its value can be one of two methods. It could have been given to ...
|
| Corporation tax question | 9/24/2009 |
Q: I purchased a corporation ownership in 2008. How I can report changing ownership in corporation 2008 ...
A: Steve: I am confuses? Did you buy a corporation or did you buy controlling interest in a ...
|
| 1099 VS w2 | 9/24/2009 |
Q: I AM A LOAN OFFICER. I WORK FROM MY HOME. I RECEIVE NO COMPANY BENEFITS. I PAY FOR ALL OF MY ...
A: Rhonda: I have not read the BUTTS case and do not know the issues presented. However, I am ...
|
| Taxes | 9/23/2009 |
Q: Two years ago my wife switched from nursing to information tech at UCSF; however that program is ...
A: Richard: After you have made the sell there is not much that can be done to put the off the "gain" ...
|
| GeoThermal Tax Credit on Weekend Home; Residency Requirements | 9/22/2009 |
Q: We're considering Geothermal heating and cooling systems for a weekend house in VA that is 88 miles ...
A: Greg: You can make your "residency" any place you want it to be. But, we must be mindful of all ...
|
| 1099 VS w2 | 9/19/2009 |
Q: I AM A LOAN OFFICER. I WORK FROM MY HOME. I RECEIVE NO COMPANY BENEFITS. I PAY FOR ALL OF MY ...
A: Rhoda: I understand your situation, however, due to the problems in the financial markets the ...
|
| Independent contractor or Employee | 9/17/2009 |
Q: Starting a new youth sports organization in Texas and trying to understand whether we treat our ...
A: Kevin: As the law is written everyone is presumed to be an employee unless they own their own ...
|
| Hello | 9/17/2009 |
Q: I'm moving from here in CO to TX. Can i file interstate unemployment here in CO then move to TX?
A: Amanda: You must file the claim in the state that you earned the wages. If you earned the wages in ...
|
| LLC | 9/17/2009 |
Q: I have an LLC company with just myself as the employee. I do not pay myself a paycheck as the ...
A: Renee: You will complete a schedule "c" reporting the income an expenses of the LLC. The profit of ...
|
| deceased tax payer | 9/16/2009 |
Q: He was issued a 1099 by his employer and a packet came back in the mail saying there was changes ...
A: Ms. Cruz: The administrator of his estate will need to file a corrected tax return. If he was ...
|
| lease to own forclosures | 9/14/2009 |
Q: What are the biggest risks for taking over an existing mortgage via short sale , or lease option? Is ...
A: Mr. Smith: The biggest risk involving forclosed property is the title. If one can insure that ...
|
| forming a llc | 9/10/2009 |
Q: what are the advantages of forming a LLC in delaware or nevada as opposed to my home of illinois? i ...
A: Charles: I do not have the expertise to answer that question. I have not studied the LLC laws in ...
|
| Draw, dividends, Cost of Labor or what? | 9/8/2009 |
Q: I am a small C Corp and this is my first year of reporting (only 3 months) for 2008. I took $8400 ...
A: Michele: Thanks for the question. As an officer of a corporation you are an employee. Therefore, ...
|
| form 1099-misc | 9/3/2009 |
Q: In box 3 ( other income ) there is an amount. This amount is considered "penalties" award due to a ...
A: A Lyon: What type of class action law suit. Did you receive any actual damages, if so, how was it ...
|
| sister on medicaid needs to sell house | 9/3/2009 |
Q: My sister has owned her home for 19 years. She owes approx. 21000.00 on a home worth approx ...
A: Melissa: Thanks for the question. I would like to assist you with your situation. However, your ...
|
| employee or contractor? | 9/1/2009 |
Q: I have read the conditions for employee vs. independent contractor and for me it is still unclear. I ...
A: Janice: You are a domestic employee. When you have earned $1,000.00 in wages the employer is ...
|
| Per diem | 8/31/2009 |
Q: My husband and a few of his co-workers have been sent out of town, about 130 miles away from their ...
A: Shandra: Per Diem is a method an employer can use to pay an employee living expense while the ...
|
| witholding change by my company on bonus income | 8/29/2009 |
Q: my company just changed its procedure to combine my salary check and my bonus and commission checks ...
A: Mr. Bianco: If the 35% is being paid to the IRS to pay taxes calculated that you will owe then the ...
|
| adding a spouse as a 495 share holder in a s corporation california | 8/27/2009 |
Q: I am a 100% owner of a s corporation in california. In the articles of statement the total noof ...
A: Shawn: I have not read your by laws they govern how your corporation can operate. If in the by ...
|
| Foreclosure of Non-Owner Occupied | 8/24/2009 |
Q: Home that was bought as a personal residence, but never lived in due to divorce & moving out of ...
A: Camilla: Camilla you have a long term capital gain or loss. You will use a schedule D to make that ...
|
| Referral Fees | 8/23/2009 |
Q: I have started a business that will be targeting apartment complexes and management companies ...
A: Bonnie: I am not an attorney, therefore, I choose not to speculate on the conflict of interest ...
|
| 401k withdrawl | 8/21/2009 |
Q: My sister passed away and I need to withdraw 7500.00 from my 401k to pay for the funeral expenses. ...
A: Tina: I am sorry to hear about your loss. If you are not 59 and 1/2 years of age, the IRS will ...
|
| Question about Alimony deductions | 8/20/2009 |
Q: Is there a way I can figure out how much the alimony i'm scheduled to be paying my ex-wife based on ...
A: John: Remember it will be based on the tax bracket you will be in. Currently your tax bracket is ...
|
| california unemployment benefits | 8/19/2009 |
Q: my friend lives in NE but has been working in CA since 06-09. do you know that the max benfit for CA ...
A: Angela: When your friend returns to Nebraska in December of 2009 and for the sake of understanding ...
|
| capital gains | 8/19/2009 |
Q: After owning a business, with no real estate, for over a year, sell at $155,000 capital gain, what ...
A: Linda: If you sell an asset that you have owned more than 6 month you will calculate the tax based ...
|
| Per Diem | 8/17/2009 |
Q: Following the answer you gave on per diem, is it true that if we follow the regulated federal per ...
A: Leonora: That is an incorrect interpretation of what I have written. The person/company who is ...
|
| tax responsibility | 8/15/2009 |
Q: In 1995, as a result of a divorce, the court ordered my ex-spouse to pay past due state taxes. As of ...
A: Mary: It appears your situation is legal in nature. It appears the court order has not been ...
|
| Tax Interest and Penalties | 8/10/2009 |
Q: My dad owes $35,000 in back taxes. Does the IRS assess interest and penalties every year until the ...
A: Eddie: The penalty and interest accrues monthly not annually. In the notice they send to the ...
|
| Mileage | 8/8/2009 |
Q: When I invoice a customer for mileage is it taxable?
A: Cathy: Not sure if it is. Each state has different rules when applying sales tax to services. If ...
|
| can my employer 1099 as a contractor | 8/5/2009 |
Q: I have been working for this guy awhile , at first he was paying me by check no 1099's or anything ...
A: Larry: He want to work you as an employee and report you as an independent contractor. You are an ...
|
| Paying commission to myself as an expense | 8/4/2009 |
Q: In the purchase, the seller offered to pay me commission or give me that amount off the purchase of ...
A: Brian: You can expense any money spent to further your business. Even marketing expense. You file ...
|
| severance taxes | 8/1/2009 |
Q: I work in Ct. and am being laid off at the end of September. I am being given about 25,000.00 in ...
A: Amanda: It will not automatically put you into a 35% tax bracket. The top tax rate is 28% unless ...
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| dependent | 7/31/2009 |
Q: My father-in-law has been eligible for Supplemental Security Income for a long time. Since a year ...
A: David: No you do not add his income to your income. You have to prove that you paid over 12,000.00 ...
|
| Paying taxes on social security | 7/31/2009 |
Q: Is there a way I can avoid paying taxes on my social security because I am planning to continue too ...
A: Mr. Thomas: You must report all your income. If you are limited to a certain amount on income or ...
|
| dependent | 7/30/2009 |
Q: My father-in-law has been eligible for Supplemental Security Income for a long time. Since a year ...
A: David: In order to qualify as a dependent the person must be dependent on you. You must provide ...
|
| 1035 annuity exchange | 7/30/2009 |
Q: I am being told by people who sell tax deferred non-retirement annuities that you can keep deferring ...
A: Mr. Barnhart: All annuity products I know about the tax is deferred on the interest until it is ...
|
| TOD deed tax | 7/29/2009 |
Q: A friend has listed me as TOD deed recipient for her home which is paid off. Will I have to pay any ...
A: Jackie: What is TOD? Post me another message with the answer to this question and I will address ...
|
| Paying dependent children | 7/29/2009 |
Q: What is the maximum amount you can pay a dependent child under the age of 18 and still not have them ...
A: Kerry: If you have a business and you work your child and pay your child as any other worker, then ...
|
| Comcast Doorway fee | 7/22/2009 |
Q: In consideration of signing a ten year contract, a Cable company will pay us; a Florida ...
A: David: If you are not-for-profit then you would handle the money as any other money you take in. ...
|
| 1099 or W-2? | 7/20/2009 |
Q: I'm hoping you can help me. I have an individual that works for my company that I *think* is ...
A: Stan: You contracted the work, he is working out your contract, follow your directions, accounts to ...
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| 1099 or W-2? | 7/19/2009 |
Q: I'm hoping you can help me. I have an individual that works for my company that I *think* is ...
A: Stan: Number one question does he work for you or does he work for himself. If he works for you he ...
|
| 1099 and W2 from same employer | 7/18/2009 |
Q: In a real estate broker situation, is it possible to pay an office manager as an employee (W-2) and ...
A: Cindy: No, Cindy, I do not. In common law a W-2 means you are a servant and a 1099 mean your are ...
|
| per diem | 7/18/2009 |
Q: Greetings! I am a resident of California. Last year, I was hired by a company to do contract ...
A: Wil: I have no idea what your employer was taking out of your hourly rate. Per Diem is an expense ...
|
| UI Tax | 7/17/2009 |
Q: Which are the three states where employees pay UI tax? I went to the dol.gov site, Employers' ...
A: Ms. Falukner: Neither of the three states are the state in which I practice. I will try to find ...
|
| Capital gains on inherited home / Florida | 7/17/2009 |
Q: I inherited my father’s home on 7/2008 and sold it 3/2009. I did not live in the home nor claim it ...
A: Mr. Clarkson: The value of the home was set when you inherited the house you either set the value ...
|
| First Time Home Buyers Credit | 7/15/2009 |
Q: My father-in-law wants to sell me his house. He will owner finance the house for me and he will ...
A: Mr. Renner: Until the deed is in your name, the property is not in your name. The only thing you ...
|
| Auto Allowance Taxes | 7/15/2009 |
Q: I received my first car allowance check from our new company today. I noticed that my Fed Inc Tax ...
A: Dale: You will need to keep up with your business miles and your personal miles, so that, at the ...
|
| LTD premiums | 7/14/2009 |
Q: If a company pays the LTD premiums, could one declare them as income and pay tax on them? If so, ...
A: Doug: The Long Term Disability payment made by a company is tax (expensed) deductible. However, if ...
|
| 1099 or? | 7/13/2009 |
Q: Ok, if we need short term assignment administrative help ...can we make them a 1099? Or is that ...
A: Ms. Van Ess: A 1099 is reserved for non employee expense. Administrative help is an employee ...
|
| tax deductable vacation | 7/13/2009 |
Q: I am a full-time sommelier and wine educator in the US. I will be visiting and staying with a ...
A: Ted: If you have a business or the trip to Southern France is necessary for your expanding ...
|
| Lease paymernt less than mortgage payment - tax implications for the homeowner | 7/8/2009 |
Q: If I lease my house with no intent of selling it at this time, and the lease payment to me will be ...
A: Cheryl: Your expenses will not be the mortgage payment but instead will be any up keep expense plus ...
|
| 1099, | 6/29/2009 |
Q: I work for company which employed me as 1099 contractor. Do I have to pay quarterly taxes if so ...
A: Rich: If you are an independent contractor, that is, you have your own business that is ongoing ...
|
| per diem | 6/26/2009 |
Q: You live in one city within a state and travel to another city to work within that same state. Is ...
A: Lou: No employer is REQUIRED to pay any employee per diem. Some employers whose employes have work ...
|
| Rental property income | 6/26/2009 |
Q: I am single and I am trying to buy a house. So far I have two options: 1- Buy a big house where I ...
A: Liane: With either situation you will have tax consequences. The part of the house you rent to ...
|
| First time home buyer qualifications | 6/18/2009 |
Q: I am aware of the first time home buyer credit or $8,000. What I am not clear about is the ...
A: Bob: If you previously owned a home by plain language makes the next home you purchase no less than ...
|
| Another Employer Tuition Reimbursement Q | 6/18/2009 |
Q: Good Evening John, I have read multiple questions and answers regarding the above subject that you ...
A: BrianB: I would not be concerned with the Lifetime Credit if I was getting my education paid for. ...
|
| Stepped up basis | 6/17/2009 |
Q: A client placed her name on her mother's brokerage account at another firm on the recommendation of ...
A: Ms. Cenotto: It could result in her mother being required to report a gift to her daughter now. ...
|
| subcontractor verses employee | 6/17/2009 |
Q: Tidwell, Recently I had a department of labor audit and there outcome is that our subcontractors are ...
A: Teresa: If you have a master license of any kind, the person who works under that master license ...
|
| Another Employer Tuition Reimbursement Q | 6/15/2009 |
Q: Good Evening John, I have read multiple questions and answers regarding the above subject that you ...
A: BrianB: I am not an expert in educational tuition or federal educational grant programs. Be that ...
|
| land sales | 6/15/2009 |
Q: I HAVE 80 ARERS IN ARKANSAS,WE HAVE HAD THIS LAND FOR 10 YEARS. WHEN PARENTS DIED IT WAS DEED TO US. ...
A: Mary: The property that you inherited value was set at the date you received the property. If you ...
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| taxes | 6/12/2009 |
Q: For My uncle Gerald My uncle wants to help me buy a piece of Real estate. he will put in 130K-150K ...
A: Robert: If he is 72 years of age, he would not be penalized for early with drawl by the IRS, he ...
|
| UNEMPLOYMENT | 6/11/2009 |
Q: Greetings, John! My Dad owns a company that is closing the doors for good after 32 years of ...
A: Lisa: He who has received a paycheck can file a claim for unemployment. Based on the record before ...
|
| Improvement deductions for sale of house? | 6/10/2009 |
Q: In the next few days we'll complete the sale of our current house and the purchase of a new one. ...
A: Seth: Repairs are not added to the original purchase price of the house only improvements can be ...
|
| SS-8 determination | 6/9/2009 |
Q: I worked for this senior citizen high-rise apts. for 8 mos.,16 hrs/day, 5 days/wk. under a so-called ...
A: Ethel: You should file a complaint with the federal depart of labor and the state department of ...
|
| 1099-H vs. 1099-MISC | 6/8/2009 |
Q: I worked for company for one month last year as an independent contractor. To my surprise, instead ...
A: Bonnie: Contact the payor an attempt to get the form corrected to an MISC if not file as thought it ...
|
| Deducting commute time for home officed employees | 6/6/2009 |
Q: I work for a large corporation and office in my home. My work is Field Service for the mechanical ...
A: Jim: This information is not in a law or a posted rule. However, it is the guidelines used by most ...
|
| Payroll/W-2/Voided checks | 6/5/2009 |
Q: I'm a Payroll Manager for an outsourcing company and I have a question. If an employee never picks ...
A: Jaime: I am sure your state is like the state of Tennessee. There is an office that you turn over ...
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| irs tax on repo car for cosigner | 6/5/2009 |
Q: My mother was a cosigner for my sister car which was repo'd in 2003 and she just received a letter ...
A: Bob: She was the cosigner of a note. The loan was called, the asset was sold, and the finance ...
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| Deducting commute time for home officed employees | 6/5/2009 |
Q: I work for a large corporation and office in my home. My work is Field Service for the mechanical ...
A: Jim: As a rule, if you work from your home and your home is your base of operations, then your time ...
|
| LLC questions | 6/3/2009 |
Q: I’m consider to set up a LLC company for personal stock investment on saving tax purpose. Currently, ...
A: William: I have no idea how to advise you. You have not provided me any information regarding the ...
|
| Second home mortgage | 5/30/2009 |
Q: I'm buying a second home. However in order to get the home over another buyer, I'll have to come in ...
A: Meghan: Your mother could deduct the interest on the loan on her house. You will be required to ...
|
| 401k taxes | 5/27/2009 |
Q: I was building a b & B had to use over 300,000 of my 401 to complete the project in 2008. I am 65 ...
A: Mr. Watson: I can not give an opinion on a transaction that I am not privy to all the details. ...
|
| Yearly hours worked | 5/19/2009 |
Q: Can you please tell me why/how most human resources come up with 2080 working hours per year when ...
A: Ms. Thwing: I do not know the answer to that question. There is no law regarding yearly hours ...
|
| TAX DEDUCTIONS | 5/19/2009 |
Q: WHEN GOING OVER MY PAY STUBS FROM MY JOB. I NOTICED UNDER TAX DEDUCTIONS.. IT SHOWS .."CA SDI ...
A: Sandra: I am clueless with those abbreviations. Generally for federal Income tax purposes ...
|
| SMALL LAWN MOWING BUSINESS | 5/15/2009 |
Q: My husband has recently purchased a zero turn mower and began mowing lawns. He has only had a few ...
A: Deanna: No not really. If he purchased a mower and is attempting to operate it as a business, you ...
|
| Unemployment and 1099 | 5/9/2009 |
Q: Good morning, I had been working on a W2 at the same firm since 2005. I was laid off on March 20th ...
A: Maria: I see this used all the time, I work on a W-2 or I work on a 1099. What do you mean you ...
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| child exemption / IRS | 5/8/2009 |
Q: John, first I want to thank you for sharing your expertise with us. my question is: does a family ...
A: Sandra: First, the judge in a divorce and child custody case can by decree from the bench decide ...
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| COMPANY CAR | 5/5/2009 |
Q: I HAVE A COMPANY VEHICLE. I PAY FOR COMMUTE MILES . WE HAVE BEEN TOLD THAT IF WE STOP FOR GAS ...
A: Denise: If you are driving from home to work and you stop for fuel, then, stopping for fuel does ...
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| Real Estate Investment | 4/26/2009 |
Q: Good Evening, I'm about to purchase an investment property and will rehab it and most likely use it ...
A: Aneika: What will the fair market value on the day you purchase the house? That is the amount you ...
|
| Unemployment Question | 4/23/2009 |
Q: I have a similar situation to Shannon, the woman who unknowly drew unemployment. I just received the ...
A: Ms. Smith: Properly framed, I believe you must have drew unemployment that your were not entitled ...
|
| state unemployment/state withholdings | 4/23/2009 |
Q: We have employees that reside in Texas and Louisiana, but work in other states, particularly ...
A: Jennifer: If an employee lives in Texas and works in any state that has income tax you must ...
|
| travel per diem | 4/23/2009 |
Q: I am a government contractor. My company tells me they have been informed by the IRS that they must ...
A: Ellie: The IRS makes the rules they can tweak the rules whenever they choose. John I would answer ...
|
| Form 1040, 5th Amendment Rights, IRS Tax Return | 4/19/2009 |
Q: Mr. Tidwell, With all due respect Sir, you didn't answer Mr. John H. King's question. Exactly ...
A: Mr. Menendez: I try to answer questions about tax matters. I intentionally remove my self from ...
|
| claiming child as dependant twice | 4/16/2009 |
Q: I found myself in a difficult situation,can you help me to resolve it, please? I have a cousine and ...
A: Jenny: I question how you qualify to report someone as your dependent, whom is not your dependent. ...
|
| dependant taxes | 4/15/2009 |
Q: I just wanted to know if someone is being claimed as a dependant, are they eligible to even pay tax? ...
A: Yogi: I do not comprehend your question. When a person earn enough money to pay a dollar of income ...
|
| dependents | 4/15/2009 |
Q: John, My husband's son is now 18. He lived with us last year. He turned 18 in September 2008 and is ...
A: Rachel: He is a student and as long as he is a student and he lives with you more than 50% of the ...
|
| Married Filing Jointly: Live in Separate States. | 4/12/2009 |
Q: I have been married in 2008 and we (me and my wife) want to file our tax returns together (Married ...
A: Venkat: You can file married filing joint return. You can also claim your state of Texas as your ...
|
| foreign networker | 4/12/2009 |
Q: I am an alien with a valid SS number from when I was a student. I reside in my country of residence, ...
A: James: If you live, work in another country, and you are not a citizen or have a residency in the ...
|
| filing status | 4/11/2009 |
Q: Now that I can be claimed by my boyfriend, because of disability, which status should he apply for? ...
A: Pj: If you are not married, He can not claim you as a dependent. The IRS has not changed the rules ...
|
| Cell Phone - Real estate agent | 4/10/2009 |
Q: My wife is a real estate agent. As she was doing her studies back in Feb 2008 we bought a prepaid ...
A: Fady: The two items last listed you can deduct. On the cell phone it was congress intent that no ...
|
| Class Action Lawsuit compensatory damages taxable? | 4/8/2009 |
Q: Last year I was part of a Gender Class Action Lawsuit in NY. We were awarded back pay with fed taxes ...
A: Hannie: Usually damages are not reported as income except when the tort is wage based in nature. ...
|
| Should I move to a Tax Free State? | 4/7/2009 |
Q: I may potentially be selling my business for $2,000,0000 this year or next year. I currently live in ...
A: Michael: Register to vote in Washington State and you have changed your residency. If you are ...
|
| Georgia tax lien | 4/5/2009 |
Q: If a tax lien is filed on an individual in Georgia, can it be applied or served on bank accounts in ...
A: Todd: It means does the bank have a connection to the state. The bank may not have a branch in the ...
|
| Real Estate Agent - 2 | 4/3/2009 |
Q: John, This Fady from the other thread, one more follow up please. You said $2 does not need a ...
A: Fady: Each $2.00 is one transaction therefore no receipt needed for each transaction and it would ...
|
| Can I claim Business Investment Loss? | 4/3/2009 |
Q: In 2004, my ex-spouse started a small business, and we borrowed $50K from our LOC to invest in it. ...
A: John: If this corporation is an S corporation an you were a stockholder you would have gotten a K-1 ...
|
| Estate income (1041) allocated to beneficiaries K-1 | 4/2/2009 |
Q: Two part question, if you'll indulge me: 1) My mother's estate has been open for several years. The ...
A: Etta: An on going estate beneficiaries must report the income attributed to that beneficiary. The ...
|
| W-2 & 1099 Paid Simultaneously | 4/2/2009 |
Q: A former employee is receiving payout of a deferred compensation. This is processed through the ...
A: Wanda: No I am sorry, his status with you is always an employee. Just because he will be paid a ...
|
| Can I claim Business Investment Loss? | 4/1/2009 |
Q: In 2004, my ex-spouse started a small business, and we borrowed $50K from our LOC to invest in it. ...
A: John: I do not know the answer to that question. You have not provided me any detail. You said ...
|
| starting business for tax pupose in nc | 4/1/2009 |
Q: Was layed off and I am going back to computer school for two years.I am commuting approx 3oo miles ...
A: Jay: If you are openening a business for the purpose of advoiding income tax liability or for the ...
|
| Real Estate Commission Rebate | 4/1/2009 |
Q: I bought a house last year (Jan 2008) and my realtor agreed to rebate me back half of the commission ...
A: Patricia: That may be true the agent is "rebating" some of your money back to you. However, in the ...
|
| Real Estate Commission Rebate | 3/31/2009 |
Q: I bought a house last year (Jan 2008) and my realtor agreed to rebate me back half of the commission ...
A: Patricia: I have not run into this situation before. In an weak attempt to understand the ...
|
| 1099 Tax Form | 3/30/2009 |
Q: I am a Canadian workinf for a Canadian Engineering Consulting company involved with the oil and gas ...
A: Mr. Turner: I am not sure since I do not know about Canadian tax laws what would be the best for ...
|
| tax refund | 3/28/2009 |
Q: My Father passed away April 2, 2008. I did his taxes for that yr. Who gets the refund? He has no ...
A: Mary: I know every state requires a deceased person's affairs to be closed through probate court. ...
|
| 1099R | 3/28/2009 |
Q: My friend recvd a 1099R with $10000 in box 1 and taxable amt showing $10000, with distr code 7. This ...
A: Kory: When the money was moved from one account to another account it became a taxable occurrence. ...
|
| Depreciation Rates | 3/26/2009 |
Q: I am trying to calculate depreciation for an LLC which is specializing in staffing for Government ...
A: Jahnavi: At www.irs.gov the irs has a depreciation schedule that you can use to depreciate the ...
|
| Disposal of Investment property | 3/25/2009 |
Q: I had a problem investment property. Spent about $60k and then had to give it up via "deed in ...
A: David: If it is true investment property and you had a business then you should be using a schedule ...
|
| Repayment of Moving Expenses | 3/23/2009 |
Q: My daughter left a job early under the terms of her contract - the company had paid her $2000 to ...
A: Claire: She earned the wages, therefore they are required to report the wages. I know it does not ...
|
| 1099 & Qual. Relative | 3/22/2009 |
Q: Our daughter thought she was working "under the table" for an artist last year at their studio using ...
A: EM: When someone is 18 years of age or older it is difficult for them to be a dependent. It is ...
|
| estate taxes | 3/21/2009 |
Q: Mom died in March 2008. I was told that repairs for her house are only deductible when the house is ...
A: Irwin: It is not an estate until she passed. Therefore, the bills should be paid and reported ...
|
| Determination of Worker Status | 3/20/2009 |
Q: I worked for a corporation as a software sales person. In Feb 2007 I closed a very large 5 year ...
A: Bruce: Your employer is correct. Once you earned the income as an employee, it will always be an ...
|
| Which state? State tax question | 3/20/2009 |
Q: We have "house swap" with another couple, since neither can sell their home in their respective ...
A: Tara: As always you must pay income in the location that you earn wages/income subject to income ...
|
| minor child of school age/taxes | 3/20/2009 |
Q: You answered a question I had about the age of minor children/taxes/school, etc. The question I had ...
A: Amy: When I child turns 18 and is no longer under the protection of a court order, then, we must ...
|
| filing | 3/19/2009 |
Q: My husband is self employed. What is the best way to file. We filed married last year and, now I'm ...
A: Debbie: You and your husband can only file join return either married file joint returns or married ...
|
| Unemployment Taxes | 3/19/2009 |
Q: I was terminated from a job in 2008. I received unemployment benefits starting in March. At the same ...
A: Abigail: Include the amount withheld from your unemployment to the income tax paid amount on turbo ...
|
| Federal Income Tax amount | 3/18/2009 |
Q: I have been in the payroll industry for over 15 years and I am always asked by employees if they ...
A: Joy: The employees are required to fill out a W-9 and sign it. What every they put on the form is ...
|
| short sale taxes | 3/18/2009 |
Q: I have a friend that bought a 2nd home & had to short sale. The house went for 105,000 less than ...
A: Lisa: If the bank forgave money owed on the mortgage he/she could owe income tax on the forgiven ...
|
| Unemployment Taxes | 3/18/2009 |
Q: I was terminated from a job in 2008. I received unemployment benefits starting in March. At the same ...
A: Abigail: How did you pay tax on unemployment? If no taxes was withheld on your unemployment as you ...
|
| 12 month job transfer = paying 1 mortgage and 1 temporary housing rent | 3/17/2009 |
Q: In the past two years, the Army has relocated my active duty surgeon husband three times - from ...
A: Sharyl: No not really. I am sure when you come back to Georgia you will be living in the home. If ...
|
| 1099 | 3/17/2009 |
Q: I may go to work for a person that will only file a 1099 on me at the end of the year. It that ...
A: K: Yes that is considered to be an independant contractor. Yes you will need to file a 1040ES each ...
|
| Employer Tuition Reimbursement Payments | 3/16/2009 |
Q: I am confused on the tax implications of my employer's tuition assistance program. They reimburse ...
A: Lyndsey: If the employer pays the money to you, it is not a fringe benefit. However, if the ...
|
| Employer Tuition Reimbursement Payments | 3/16/2009 |
Q: I am confused on the tax implications of my employer's tuition assistance program. They reimburse ...
A: Lindsey: They reimburse you for your tuition, therefore, if you are claiming tution and other ...
|
| ohio state tax | 3/16/2009 |
Q: I lived in NJ for 9 months in 2008 but i did not earn any income in NJ. In Septemeber i came to OHIO ...
A: Rahul: If you have changed your state of residency from New Jersey to Ohio you will file Ohio tax ...
|
| AFLAC Cancer Policy | 3/16/2009 |
Q: Tidwell, I trully need your help. I received a $7,200 check from AFLAC last year. It was for a ...
A: Joe: It is my opinion that money paid from an insurance policy is not taxable. However, I have not ...
|
| 1120 s corp | 3/15/2009 |
Q: my business is registered as s-corp. I have 3 partners and we only use this business to perform ...
A: Shah: I can not answer that question the results are what they are. You must follow the rules as ...
|
| AFLAC Cancer Policy | 3/15/2009 |
Q: Tidwell, I trully need your help. I received a $7,200 check from AFLAC last year. It was for a ...
A: Joe: If it was pre-tax money, that is at work a cafeteria plan with money taken out of your check ...
|
| Theft Loss: Follow Up | 3/14/2009 |
Q: When merchandise is stolen off of the shelf from a business, is that money that comes out of the ...
A: John: Maybe I did not understand your question. If you have a market and you sell cans of items ...
|
| tax credit | 3/13/2009 |
Q: My wife and I claimed the 7,500 tax credit on our tax return. This tax credit has to be repaid in ...
A: Lee: That is your only recourse. The student loan is required to be re-paid also. Congress only ...
|
| Theft Loss | 3/13/2009 |
Q: When merchandise is stolen off of the shelf from a business, is that money that comes out of the ...
A: Jonathan: In the old days it was called shrinkage. If your business has a good accounting model it ...
|
| Unemployment Tax | 3/12/2009 |
Q: Our employees work in multiple states - I want to confirm we are reporting the unemployment wages ...
A: Brad: If the employee lives in Missouri, was hired in Missouri, and works in various states on a ...
|
| Per diem for truck driver | 3/10/2009 |
Q: im away from home 5 to 8 days at a time but usually return to the company terminal once a day but ...
A: Gary: If your employer provides you per diem then you can accept them and file a 2106 form using ...
|
| State residency | 3/10/2009 |
Q: I have worked as an expat in China since 2002. I have maintained a MI address (driver license, ...
A: Mike: You are a resident of some state. There is no such citizen who is a non resident of a state. ...
|
| tax reporting for salary plus commission | 3/9/2009 |
Q: I read your answer to a previous question that salaried employees that receive commissions must have ...
A: Katie: You are an exception to the general rule. Real estate agents and insurance agents have an ...
|
| Charitable contributions carryover | 3/9/2009 |
Q: During last two years I made charity contributions but didn't deduct those contributions because I ...
A: Atif: No you can only claim standard or itemize in the year of the contribution with no carryover ...
|
| Write off - bad load | 3/5/2009 |
Q: I read in the paper that if you have a loan, legitimate loan (I co-signed a loan) and the co-signer ...
A: Julie: Did you receive the collateral that was used or purchase to secure the loan? If you did you ...
|
| subcontracting laws | 3/4/2009 |
Q: What tax laws pertain to the contractor & the subcontractor. what forms to file if any
A: Pam: I need more information. All business are subject to Federal Income Tax laws, the forms ...
|
| classes for volunteer work - deductible? | 3/4/2009 |
Q: I am a Master Gardener for our County Extension Service. It's a non-profit group and we volunteer ...
A: Georganne: If the classes offered are required for your volunteer work, then they are deductible as ...
|
| Gift Tax | 3/3/2009 |
Q: If someone who is not a family member and who's primary residence is in Europe gives me a gift of ...
A: Pat: You as the recipient of the gift do not report it. Only the person who gives the gift is ...
|
| tax return for severance pkg | 3/2/2009 |
Q: I got layed off at end of 2007. My severance pkg, paid in Feb 08, was about 41k. Taxes of around ...
A: CJ: I do not know what your two w-2's add up too. It could be if it is putting you into AMT for ...
|
| withdraw some of 401k to pay off mortgage | 3/2/2009 |
Q: I plan on retiring in about 2 yrs, I'll be 55 and have a pension, since the economy is unstable, we ...
A: Kurt: I know the feeling, been there, in 2007 I retired, have a mortgage, 401K plan, and draw a ...
|
| Gift Tax | 3/1/2009 |
Q: If someone who is not a family member and who's primary residence is in Europe gives me a gift of ...
A: Pat: The unified tax credit does not apply to your situation. The payor will be required to fill ...
|
| Federal & State filing status | 3/1/2009 |
Q: My wife and I lived in Indiana, I relocated in South Carolina in May 2008. My wife stay in Indiana ...
A: Thomas: You would file a federal tax return jointly and a state of Indiana and state of South ...
|
| state tax | 2/28/2009 |
Q: I reside in New Jersey and worked for 4 months in NY. I filled out my w-4 they with held all taxes ...
A: Yolanda: I know it is an annoyance, however, you still owe the taxes. No, there is nothing you can ...
|
| taxes | 2/28/2009 |
Q: I had a babysitter for 2.5 years and paid her $200 wk full time. She said she was not a US citizen. ...
A: Candace: If the babysitter came to your house to perform her services, you have domestic employment ...
|
| State Unemployment tax | 2/27/2009 |
Q: we are an virginia corporation, one of our employee is working in California. we are paying ...
A: Nathan: No, you only report the employee to California NOT Virginia. John I do not understand, ...
|
| Can I file taxes without a 1099? | 2/26/2009 |
Q: My husband used to work for a company for th past 4 years and they always issued him a 1099 misc at ...
A: Nora: He does not have to have a 1099 to report what he received as cash payments. You need to ...
|
| 1098T | 2/26/2009 |
Q: My daughter received a 1098 T. We are claiming her. Box 5 exceeds Box 2. She received 1100 income ...
A: Cornelia: In January of each year, each school (university, college, etc..) mails an IRS Form ...
|
| taking a loss on rental property sales | 2/24/2009 |
Q: We owned our home for 42 months. We have been unable to sell for the past 12 months. It will sell ...
A: Linda: I believe in a couple of years. John Futher, IRS will not allow someone to rent a house ...
|
| Income Partners | 2/23/2009 |
Q: Are "income partners" or non-equity partners really partners or employees for purposes of Section ...
A: Ryan: Do you sign an agreement that you are a partner (have a percent of ownership) or a partner in ...
|
| 1099 | 2/23/2009 |
Q: I read one of your earlier answers that states the obvious...personal info should be collected ...
A: Susan: If the father's social security number is not on the 1099 but the son's social number is on ...
|
| Residency and taxes | 2/23/2009 |
Q: I currently live in Michigan but just got a job in New Mexico starting in March. The job involves ...
A: Don: I am sure! As a resident of either state you have to pay state income tax regardless of where ...
|
| credit for cobra premiums | 2/23/2009 |
Q: My husband had employment terminated due to plant closing, then gained new employment. He turned ...
A: Susan: You can only claim HCTC on form 8885, if you are not eligible for employer paid health care ...
|
| Residency and taxes | 2/22/2009 |
Q: I currently live in Michigan but just got a job in New Mexico starting in March. The job involves ...
A: Don: You will be required to pay New Mexico state income tax on the wages you earn while working in ...
|
| 1099 and unemployment taxes | 2/20/2009 |
Q: I have issued form 1099 to all the people that have done work for my Company. They are independent ...
A: Janet: Insurance agents who are paid only by commission and real estate agents who have signed a ...
|
| class action lawsuit and 1099 misc | 2/20/2009 |
Q: we received 10,000 in a class action lawsuit for being mislead in regard to an annuity. received a ...
A: Marc: If the money is for damages you suffered and the payment is for money you lost then it would ...
|
| 1099 and unemployment taxes | 2/20/2009 |
Q: I have issued form 1099 to all the people that have done work for my Company. They are independent ...
A: Janet: I understand your situation. Also, I understand the tax auditors situation, he has claims ...
|
| Joint vs Head of Household | 2/18/2009 |
Q: My sister's husband passed away in August 2008. How does she file her 2008 tax? As jointly or head ...
A: Mr. Jankowski: You sister can file a joint return as a surviving spouse. In the year that your ...
|
| Mileage deductions for consultants | 2/18/2009 |
Q: I saw a response from you on mileage deductions dated 12/28/08 where you told a consultant working ...
A: John: Usually the IRS require you to deduct your commute miles from any business miles during the ...
|
| short sale tax implications | 2/18/2009 |
Q: I have a construction loan (non-recourse) in the amount of $603,000 for a new single-family home in ...
A: Hanh: When you sell you will have to recover the depreciation. I do not know that calcualtion will ...
|
| Independent Contractor Deduction | 2/17/2009 |
Q: I work as a independent contractor for a company. I have a home office but I travel there everyday ...
A: Anna: I have not been able to glean much from your question regarding your actual work for the ...
|
| Exceptions for early withdrawal of IRA & profit sharing | 2/17/2009 |
Q: ..My husband and I worked together for a company that subcontracted out to power companies for many ...
A: Sally: IRS will allow early withdrawl for the following reason: Financial Hardship Definition The ...
|
| Travel Expense paid by Company | 2/17/2009 |
Q: I joined a new company and they paid for my relocation. My w-2 has the relocation expense in the ...
A: Pritam: This is called a conundrum. You could have paid the relocation expenses yourself and saved ...
|
| unemployment in a non-resident state | 2/15/2009 |
Q: I am working on my fiance's taxes and have a question. He is a full time Delaware resident and ...
A: Amanda: If during the year his only contact with Maryland is drawing unemployment claim he would ...
|
| Babysitting expenses | 2/14/2009 |
Q: I had someone babysit at my home last year and total expenses were $8000. I heard people saying the ...
A: Rick: Have you heard the nanny tax issue. You have a nanny tax problem. Since the babysitting ...
|
| Capital gains tax | 2/13/2009 |
Q: My wife and I own a home that we have never lived in and has been a rental for the last 30 years. ...
A: Leonard: If you have depreciated the house, before anything else you will have to recover the ...
|
| Claiming Child Care Tax Credit | 2/12/2009 |
Q: My Ex and I have joint custody. We rotate on who get the tax exemption for our son every other year. ...
A: Desireah: The IRS rule for filing is as follows, if the child lives more than half the year with ...
|
| Employer did not take out Federal income tax | 2/10/2009 |
Q: I have a question on behalf of a co-worker, she has no computer and ask me this question and I told ...
A: Donna: There is not much you can do other than report the employer to the IRS an pay your income ...
|
| 1099-C | 2/10/2009 |
Q: It was brought to my attention that I MAY have to pay the IRS a large sum of money. Here is the ...
A: Vern: I am totally confused. Your first statement indicated that the renovation was about $308K ...
|
| Unemployment taxes | 2/8/2009 |
Q: My wife made 2,205.12 for the entire year. She also received 7,878 dollars in unemployment ...
A: Michael: If you file seperate returns neither one will be able to use head of household. If you ...
|
| 401k taxes | 2/6/2009 |
Q: I was building a b & B had to use over 300,000 of my 401 to complete the project in 2008. I am 65 ...
A: Mr. Watson: If that is a business then you can follow IRS rule as it applies to a business. You ...
|
| TN Resident in Kentucky | 2/4/2009 |
Q: If I worked for a firm in Kentucky, but earned most of my income outside of the State of Kentucky, ...
A: Mr. Englehardt: That is my understanding. As you know, the Tennessee/Kentucky income tax issue has ...
|
| unemployment benefits | 2/3/2009 |
Q: In 2007 I have been overpaid in unemployment benefits.I paid taxes in last year and paid back to ...
A: Gorki: I need for you to give me more detail. I do not understand what LNI is? Did you receive a ...
|
| mortgage and prop tax deductions | 2/3/2009 |
Q: I have been legally seperated since 2/15/08 and lived in a rental home, while my husband lived in ...
A: Teresa: If you are married neither can claim head of household filing separate returns. If you ...
|
| claiming qualifying child | 2/2/2009 |
Q: I am the joint legal guardian to 3 kids...1 lives with my family. My uncle (stepdad) and I have ...
A: Monica: If the children receive SSI, they are supported by the state. Before anyone gets to claim ...
|
| Questions about child tax fraud | 1/29/2009 |
Q: Tax year 2007 I had a hard year and allowed a friend to live with me most of the year to help with ...
A: Yvonne: You file your tax return claiming all your children as dependents, your friend is not ...
|
| Education Credits (IRS FORM 8863) | 1/29/2009 |
Q: I am a full time student and live in NYC. Last year I received enough financial aids and ...
A: Suprakash: I can not from the amount of information provided determine what you can and can not use ...
|
| Do I need to file a 1099-A that I received? | 1/29/2009 |
Q: I received a 1099-A. I foreclosed my home or is still in the process. I am confused. I've read on ...
A: Janice: Read IRS publication 544 to determine if you have realized a taxable occurrence. Also on ...
|
| dependents | 1/25/2009 |
Q: Can I claim my son as my dependent even though his father has claimed him on unemployment benefits? ...
A: Sara: Only one parent shall claim a child for a tax year. Unless he has a court order to do so, he ...
|
| IRS reporting of cash surrndered life insurance | 1/25/2009 |
Q: I received a 1099-B from the Payor of a surrendered life insurance for my son that I have been ...
A: Gary: The date you purchased the insurance policy. All the premiums you paid on the policy is the ...
|
| milage | 1/24/2009 |
Q: How much can you claim for mileage to medical appointments
A: Brenda: If you meet the 2% test and you have kept up with you car mileage according to IRS rules ...
|
| Boss doesn't pay taxes | 1/24/2009 |
Q: I began working for a very small business in Sept. 2007. The owner/boss never gave me nor the other ...
A: DK: Your are an employee, no question. If you continue not reporting him to the IRS you will ...
|
| Unemployment in Non-resident state | 1/23/2009 |
Q: I live in Indiana, but was employed by a company who has offices located in both Indiana and ...
A: Abby: If you worked in Michigan then you should have been reported for unemployment purposes to ...
|
| Calif Unemployment InsuranceI -Employer Problem | 1/23/2009 |
Q: I worked for Psychiatrist MD 10 months, he terminated me. I filed claim for UI and MD has midstream ...
A: Helene: You have your documentation that you worked for some organization that also has a federal ...
|
| Rules for Schedule c | 1/22/2009 |
Q: My question deals with a sole proprietor business and the filing of schedule C. I was instructed ...
A: Russ: There is no fast rule. The law require a person to be making an effort to generate income. ...
|
| claiming my child on my taxes | 1/22/2009 |
Q: I have a 4 year old son that lives with me all year long. He sees his father only on weekends. Not ...
A: Alana: Unless your divorce decrees states otherwise, you have the legal basis to claim the child as ...
|
| Capital Grains on Rental Property | 1/22/2009 |
Q: John, I own a rental property in Oklahoma and would like to move into the house myself. I have ...
A: Sandy: Once you move into rental property, you have converted it from income producing to a home. ...
|
| 1099s and W-2 | 1/21/2009 |
Q: John, I am in the midst of attempting to file for unemployment benefits in the state of California, ...
A: Rebecca: Please provide me detail to the kind of work you performed? Please provide me detail of ...
|
| uninsured 1099 casual labor | 1/21/2009 |
Q: Had a laborer working here and there in 2008.. 1099 Misc. tax filing.. This person understood that ...
A: Sherry: A laborer by definition can not be an independent contractor he/she does what he is ...
|
| Property Loss and taxes | 1/19/2009 |
Q: Last year I deciced to purches a piece of land in PA for a retirement home. I deposited $10,000 and ...
A: Mr. Taylor: None. John Mr. Taylor: Did I need to put in also that you can write NONE of the ...
|
| Taxes on Unemployment Compensation | 1/18/2009 |
Q: Mr.Tidwell, this year I received $7616.00 in Unemployment compensation with not taxes being ...
A: Steve: You will owe between $1,142.40 and $2,132.48 in federal income tax on the unemployment ...
|
| CONFUSED DEPENDENT | 1/18/2009 |
Q: I LIVED 11 MONTHS WITH MY PARENT IN NOVEMBER WHEN I HAD A BABY SHE KICKED ME OUT. SHE SAID SHE IS ...
A: Julie: You can file your own return, claim your own exemption. Your mother on the other hand, is ...
|
| severance taxes | 1/17/2009 |
Q: Can you go into more about taxes on severance? More specifically:is this 25% rate only for federal ...
A: Karen: When you file your tax return, you will get any back that you have overpaid. The highest ...
|
| domestic production credit | 1/16/2009 |
Q: My husband is a residential building contractor who does remodelling work which would qualify him ...
A: Ms. Macarewich: Unless he has employees, he does not qualify for domestic production credit. Some ...
|
| Per-deim | 1/15/2009 |
Q: If I am hired to work a temporary assignment in Cleveland thru a Cleveland based company, can I ...
A: Joe: If you live in PA and a company that you work for in PA sends you to work in Cleveland for a ...
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| using equity in home to build another | 1/15/2009 |
Q: we are in the process of buying property to build a new home. The house we live in now is paid for ...
A: Marilyn: You have a one in a lifetime exemption on the sale of your home. So you could use that ...
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| Deed in lieu of forcloser tax consequences | 1/14/2009 |
Q: I am in a house that I owe $315,000 (1st and 2nd) on and it is currently worth only $250,000 in the ...
A: Mr. Diegidio: I can not answer your question. I have no idea what the bank is willing to do. ...
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| deduction for child? | 1/14/2009 |
Q: "Hi, I live in Florida and have been divorced for 10 years with 2 children who live with me full ...
A: Lisa: Yes the court that has jurisdiction over the child custody can decide who can claim the child ...
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| Per Diem allowances | 1/14/2009 |
Q: I am about to travel to another state (7 hrs away) to do a job for my company. I will be there for ...
A: Katie: That is strictly up to your company how they account and pay the per diem. However, you ...
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| 940 FUTA and corperate officers | 1/13/2009 |
Q: I have a question about Form 940. Only the corporate officer is exempt from state unemployment tax ...
A: Angela: Corporate officers are not exempt from state unemployment. All wages are reported for ...
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| How to fill out a W-2 | 1/9/2009 |
Q: How should a church fill out a W-2 for a minister with the following package? Salary - 17,000 SECA ...
A: Michael: Clarify why he should not receive a 1099, Please. A W-2 is for those employees whom you ...
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| unemployment insurance for 1099 employees | 1/9/2009 |
Q: I have worked the past 6 months as a 1099 employee and was recently laid off due to a lack of work. ...
A: Randy: File a protest of your employer not reporting you as an employee. From what you state you ...
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| W-2 based on stock ownership | 1/8/2009 |
Q: I received some restricted stock in the privately held company several years ago. In 2008 stock ...
A: Paul: The cat is out of the hat. The end of the year has passed and any transaction taken now will ...
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| fomerly W2, now 1099- can i collect unemployment? | 1/8/2009 |
Q: I have worked for the same company for 5 and a half years. In January of 2008, My husband took a ...
A: Chris: Then you would be an employee and not an independent contractor. You will be required to ...
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| Unemployment Claim - state wages | 1/7/2009 |
Q: I recently got laid off after a year from my job in NJ. Back in 2007 I worked 5 weeks at a company ...
A: David: You are an employee who's wages should have been reported to New Jersey for unemployment ...
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| taxes | 1/6/2009 |
Q: can the seller of a land contract sale still deduct the property taxes and mortgage interest of is ...
A: Neil: You are correct. The seller retains the right to pay the property tax unless he assigns that ...
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| taxes | 1/6/2009 |
Q: can the seller of a land contract sale still deduct the property taxes and mortgage interest of is ...
A: Neil: I am sorry that I did not make my answer clear. THE SELLER OF THE LAND OR THE PURCHASER OF ...
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| Trucking per diem | 1/5/2009 |
Q: My husband and I are employees of a trucking company. We are drivers paid by the mile. Recently we ...
A: Donna: It is your employers work rules. Unless your state has labor laws to the contrary or you ...
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| Property manager exchange | 1/3/2009 |
Q: My husband is a property manager and receives as compensation an apartment. He also receives a ...
A: Torrie: If the IRS ever audits the company they will consider the value of the rent free apartment ...
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| Mileage deductions for consultants | 12/28/2008 |
Q: I'm a software consultant employed full-time by a consulting company. Every day I drive from my home ...
A: Matt: The mileage you can deduct is the the miles in excess of the miles to your office and back to ...
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| i have a question | 12/25/2008 |
Q: Even though my ex-wife has full costudy of our daughter beacuse of a houseing situation at my old ...
A: Robert: I do not understand your question. What is unearned income? If your wife has full custody ...
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| Service contract work and multi-city taxes | 12/22/2008 |
Q: I have a client that does maintenance work relating to a contract for over 14,000 locations. ...
A: Mr. Boles: Please be more specific with your question. I will attempt to interpret your question I ...
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| Filing Exempt | 12/21/2008 |
Q: I have just been notified that i will be getting laid off on Jan 30th. We will be receiving a stay ...
A: Renee: It is my opinion that you should not change your filing status for the two checks. If at ...
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| Withholding tax on bonus versus commission | 12/18/2008 |
Q: Is there an IRS distinction or definition between bonus and commission? From what I have read it ...
A: Mary: That what you read is only a guideline. Bonuses, wages, and commission, for income tax ...
|
| short sale | 12/18/2008 |
Q: I bought my condo last year in California, and after one month I got married. My wife also bought ...
A: Jerry: You will have to report the amount on 1099C as income. That will increase the amount of tax ...
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| Texas Medicaid Recovery Lien | 12/17/2008 |
Q: After my husband's parents both passed away within 2 months of each other, he received a ...
A: Ms. Crowther: If done correctly the estate of your in-laws was the only one that was at risk. ...
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| Governor Patterson Tax Mania | 12/17/2008 |
Q: New York State Gov. Paterson has recently announced a budget which contains many taxes. There are ...
A: Mr. Pocius: The questions you have asked call for a legal conclusion. Since, I am not an attorney ...
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| Unemployment State Taxes | 12/14/2008 |
Q: I filed an interstate claim for UI this year. I was living in Florida as a resident(registered ...
A: Ms. Plummer: If you work in Georgia you will owe Georgia income tax. If, however, you lived in ...
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| Unemployment | 12/14/2008 |
Q: I worked for over 15 years in Oregon for a company from Florida. I have been laid off and have ...
A: John: You are by law entitled to file a protest of wages that are not on file for you that you ...
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| Unemployment | 12/13/2008 |
Q: I worked for over 15 years in Oregon for a company from Florida. I have been laid off and have ...
A: John: File a claim in Oregon and protest your wages not being filed in that state. You are ...
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| employer/employee relationship | 12/12/2008 |
Q: I currently have three technically part time jobs. I work in a hospital 18hrs a week and work in an ...
A: Corey: A secretary is always an employee no matter how many hours you work. Direction and control ...
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| Insurance & Taxes | 12/11/2008 |
Q: Last summer, my rental property caught fire and sustained significant damage. My insurance company ...
A: Kenneth: You have the information to compete this picture. You have already filed tax return ...
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| solo 401(k) contributions | 12/10/2008 |
Q: I am self employed and I receive a mix of W-2 and 1099 income. My W-2 income comes from teaching ...
A: Mary: You must first define what is 1099 money. Is it passive income or is it earned income? ...
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| exceptions | 12/9/2008 |
Q: I have 2 questions: 1. Can I claim home repairs to my income taxes? Also what is the least amount ...
A: Dawn: If you have a loss for instance fire or wind damage and the cost of repairs exceed the amount ...
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| LLC Taxes | 12/8/2008 |
Q: Tidwell, I am about to form an LLC in the US and i am an Egyptian citizen who lives in Egypt. 1- ...
A: Waleed: I am not sure that you can form an LLC. A partnership LLC does not pay income tax. ...
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| 1099 unemployment compensation | 12/6/2008 |
Q: My wife receives 1099 each year in Virginia and she is now preganted and will due in February 2009, ...
A: Lam: She should file a claim to contest her being treated as an independent contractor. However, ...
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| reporting income for part-time employees | 12/4/2008 |
Q: (Richard Close said he had already answered this question for me, but that is not the case.) Dear ...
A: Dorothee: A nanny is a domestic employee. A domestic employee's wages must be reported for income ...
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| Lump Sum Pension Payout | 12/3/2008 |
Q: I just turned 61 years old and may get laid off from my company next year. If I make it to May 2009 ...
A: Marcia: I do not recommend taking the pension plan out in one lump sum. Because there goes your ...
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| life insurance | 12/1/2008 |
Q: I inherited 152k life insurance policy after my mother passed this aug. the original policy was for ...
A: Matthew: The accrued interest should be the only item that will be taxed. Based on the ...
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| Bookkeepers responsibility in Non-Payment of Payroll Taxes | 12/1/2008 |
Q: We've got a situation I need help with. My wife was a bookkeeper for a small LLC in Texas until June ...
A: Steve: Hopefully you have a good tax attorney. After vast years of experience, there is not enough ...
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| C-Corp withholding | 12/1/2008 |
Q: I am working for a non-profit organization and see SWI and SDI deductions on paystubs. What is ...
A: Fred: I am not sure of what you speak. I do not what SWI or SDI stands for. I do know that FUTA ...
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| Traveling for Training | 11/27/2008 |
Q: If an employee who lives in another city other than the city he/she is employed with, is sent to ...
A: Mr. Taylor: That is also IRS rules regarding travel. There could be a reason for you to report to ...
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| S Corp Tax question | 11/27/2008 |
Q: I am part owner of a restaurant that we started an S Corp with. I am titled as treasure. I am pretty ...
A: Joe: It is my opinion that, Unless there are unusual circumstances, the officers and share holders ...
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| Unemployment Intercepting State Income Tax Return | 11/26/2008 |
Q: My husband was told he had to pay back unemployment benefits back in 2000. We were paying $200 a ...
A: Sue: Each state is different. My state it is 6 years. Your state may have a different statue, ...
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| 1099 percentage pay | 11/24/2008 |
Q: John I worked for a company that paid me percentage on each load I was suppose to be paid 25% of ...
A: Frank: You report what you have been paid. As and independent contractor your are outside the wage ...
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| owe unemployment | 11/24/2008 |
Q: I drew Unemployment from Jan to Jul. I filed in Jan and the sent me a check saying i was eligible. ...
A: Shannon: Unemployment laws have been in place since about 1934. If someone files for unemployment ...
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| travel expense | 11/23/2008 |
Q: I am a supervisor paid at an hourly rate. When I travel to supervise field maintenance my employer ...
A: Tony: You are doing your self a disservice. You should keep up with all your expenses and file ...
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| Taxable Per Diem | 11/22/2008 |
Q: What are the rules/laws to when a person starts paying tax on Per Diem? I have worked different ...
A: Llew: If you receive per diem you must keep all the receipts of your expenditures. When you file ...
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| per diem | 11/22/2008 |
Q: I work for Lockheed martin and am currently in Iraq on an Army project. They were paying us $11.00 a ...
A: Darren: Since they are providing you meals an lodging they would be in their right to not pay per ...
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| Am I considered an employee? | 11/21/2008 |
Q: I work for an interior design company 3 days a week. I usually work around 25 hours a week. It is ...
A: Melanie: You are an employee. There is no tax law against an LLC having employees. In fact an LLC ...
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| state tax lien | 11/20/2008 |
Q: I have had some financial problems lately.I Have been taking care of my mother who has recently ...
A: William: I am sure that Georgia has a standard procedure whereby they have notified you by mail ...
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| Per Diem | 11/19/2008 |
Q: I am doing books for a landscaping company. The employer gives the employees a per diem allowance ...
A: Evan: If no travel and overnight stay is involved it is wages not per diem. If the employees are ...
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| loss against gains | 11/13/2008 |
Q: Can one put the $3000 stock realized loss against dividends and interest for the year? Just want to ...
A: Jan: You may wont to reconsider surrendering the annuity in toto. Have you asked the annuity ...
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| Deducting cost of home remodeling | 11/12/2008 |
Q: My wife and I are in the process of remodeling our basement. Can we deduct any of the cost of the ...
A: Keith: You may only deduct the sales tax paid on the remodeling of you home. Improvements become ...
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| TREATMENT OF PROFITS | 11/12/2008 |
Q: I have loaned my small company moneys over the years. I had a small profit this year and I wanted to ...
A: Joseph: If it is a loan you must pay interest to yourself. You must calculate reasonable interest ...
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| taxes and disability check | 11/11/2008 |
Q: i only receive 909.00 in medical disability.my son is also disabled.i usually claim head of ...
A: Susan: Generally disability income is not reportable or taxable. If it is from social security ...
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| Deducting cost of home remodeling | 11/6/2008 |
Q: My wife and I are in the process of remodeling our basement. Can we deduct any of the cost of the ...
A: Keith: She can, but, remember the are that is designated as your business office must be used ...
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| Per Diem employees | 11/4/2008 |
Q: We are a pharmacy that used agencies in the past to staff our pharmacies when we have vacation or ...
A: Pam: In accounting the term is "creative". Usually a workers who works something other than full ...
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| Per Diem employees | 11/4/2008 |
Q: We are a pharmacy that used agencies in the past to staff our pharmacies when we have vacation or ...
A: Pam: What is a "PER DIEM" Employee? I find nothing wrong with the letter other than the use of the ...
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| Per Diem employees | 11/3/2008 |
Q: We are a pharmacy that used agencies in the past to staff our pharmacies when we have vacation or ...
A: Pam: Your use of the term "per diem" misses the intent, the letter, and spirt of the law as defined ...
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| irs penalty? | 11/2/2008 |
Q: I've always filed a 1040 but this year (in October) I cashed in part of a variable annuity. Will I ...
A: Jan: If the annuity was a qualified plan and you are over 59 1/2 you will owe no penalty. If its ...
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| Taxes | 11/1/2008 |
Q: I want to know which state tax is more either for NJ or DE given pay-rate is same. Thanks, Santosh ...
A: Mr. SOLLETI: If you work in one state and live in another state your taxes will be higher. Since, ...
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| Taxes | 10/31/2008 |
Q: I want to know which state tax is more either for NJ or DE given pay-rate is same. Thanks, Santosh ...
A: Mr. Solleti: It is more involved than H1 (I assume that is a visa) when filing income tax status. ...
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| State SUI limits | 10/30/2008 |
Q: We are a multi-state employer. We have an employee who has earned $7000 taxable wages in CA, $1,000 ...
A: Lee: Depends on what the SUI limit is in the state he is working what has to be reported to that ...
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| Real Estate Taxes - Can we still appeal for reassessment? | 10/26/2008 |
Q: I am in Cook county, IL. I received real estate bill assessed during somewhere in January 08. I ...
A: Sidhni: Your rate (value) is set until the next appraisal period. Every state has property ...
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| 401k or IRA penalties | 10/24/2008 |
Q: I would like to buy a home. I know that I can withdraw up to 10K from an IRA (not Roth)without ...
A: Halfie: I never recommend to withdrawal money from a retirement account. I personally rolled all ...
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| FICA/Section 218 SSA | 10/23/2008 |
Q: Teacher in Illinois, was required to pay FICA instead of paying into State Teachers' Retirement ...
A: John: What is your question? There is no question in your statement. Everyone is required to pay ...
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| Divorce Settlement IRA Withdrawal | 10/22/2008 |
Q: In addition to a 50% transfer of IRA funds from my son's account to his ex's IRA account, he wants ...
A: Mary: Early withdrawal from an IRA requires a 10% penalty an a 35% tax rate. I am not aware of an ...
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| section 179 | 10/20/2008 |
Q: I am looking at a laundromat that has really old equipment that the owner wants a answer on ASAP. ...
A: Tia: You would have less expense involved if he removed the old equipment before you install the ...
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| 1099 estimate tax deposits in NY | 10/20/2008 |
Q: I just started working as independent contractor for 1099 in NY. I learned that I have to make ...
A: Genri: Yes you must file estimated tax information on Federal Form 1040ES. It is available on the ...
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| Can I be claimed as a dependant? | 10/20/2008 |
Q: I'm a perminant resident of the US since July 17th 2008 and I'm 20. Since that time though my father ...
A: Shirin: The short answer is no. For income tax purposes, at age 18 a person is no longer a ...
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| tax return | 10/18/2008 |
Q: I am a resident in anesthesia in cleveland ohio. I filed my tax returns for 2007 on form 1040NR.But ...
A: Mr. Dixit: I am not knowledgeable of the United States Visa Program. I have never filed a tax ...
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| dependent claim | 10/17/2008 |
Q: I have been supporting my brother for the last two years, paying not just 1/2, but all of his ...
A: Caroline: A child (person) is a dependent until they reach the age of 18. At the age of 18 a child ...
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| s-corp | 10/16/2008 |
Q: I have made about $2000 this year and have an s-corp. (real estate) should I have concerns?
A: Leanna: Sorry, I do not understand your question. I believe "concerns" requires an essay for an ...
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| per diem | 10/13/2008 |
Q: is it legal for a company to charge a client (supplying contract personnel) perdiem and not pay the ...
A: Dale: Per diem is not a right. The owner of a business can pay any amount he/she chooses to pay ...
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| foreclosures | 10/13/2008 |
Q: If had foreclosed on my house in the middle of a tax year, am I still able to claim the insurance ...
A: Tara: You would file your tax return for that year at the due date of the return and claim what ...
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| church and filing state tax | 10/13/2008 |
Q: I would like to know do state of Georgia allow they churches to file state tax.
A: Marcus: I need more information in order to answer your question. Generally churches are excluded ...
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| filing married/single | 10/10/2008 |
Q: I am trying to get back child support from my daughter's mother, out of she and her boyfriends ...
A: William: No, IRS would have several questions. One would be, why is he filing a fraudulent tax ...
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| filing married/single | 10/9/2008 |
Q: I am trying to get back child support from my daughter's mother, out of she and her boyfriends ...
A: William: If she is not working, then, she is not paying any taxes. Since, he is not responsible ...
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| Working for a Non-Profit Theatre | 10/7/2008 |
Q: My wife works at least 25 hours a week as Business Manager for a non-profit community theatre. I ...
A: Michael: She is an employee. If the not for profit corporation is a 501(c)(3) the organization my ...
|
| 1099 | 10/7/2008 |
Q: If I have a person who has been a 1099 and earned 3k a month and commissions and I lay him off, can ...
A: Roberto: Yes the employee can file for unemployment. I do not understand why a person who is paid ...
|
| internship tax question. | 10/6/2008 |
Q: I am an international student on F1 visa(non-resident alien), who recently acquired a paid ...
A: Saahil: The company or individual who is paying you appears to be doing it all wrong. You are not ...
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| Question on Sec.179 | 10/3/2008 |
Q: Your webisite is really useful for any business or Accountants. I got a quick question on ...
A: Jon: The irs web site spells out what the irs will allow for depreciation. I do not have a list of ...
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| Stock loss | 10/1/2008 |
Q: My salary is 50k/year. But I have lost 70k in the stock market this year. My question are: 1. can I ...
A: Sam: Remember, if your investment is in a mutual fund, stock certificates, or a 401K fund and you ...
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| Is business mileage expense reimbursement taxable? | 9/30/2008 |
Q: My company reimburses me for mileage once a month which is added to my regular paycheck. I am ...
A: Shannon: If you report to your employer in writing the number of miles you drive and the employer ...
|
| Contract worker | 9/24/2008 |
Q: How would I handle paying a contract worker per diem for going out of town to work on a plane? He ...
A: Elysabeth: He is an employee in all manner. It is up to you to pay him what ever you have agreed ...
|
| 1099/w-2 | 9/23/2008 |
Q: I have a contracted person who did some work for me in 2007. I gave this person a 1099. she filed ...
A: Bonnie: Employees work for you. Independent contractors own their own business. Employees receive ...
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| Paying taxes | 9/21/2008 |
Q: Hey! I'm 20/female, a full time college student, unemployed, my grandparents claim me on their ...
A: Kayla: You only pay taxes when you work. If you are unemployed or otherwise have not worked you ...
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| 1099 employee and unemployment | 9/19/2008 |
Q: I work for the company for 20 years-W2- and last night because of financial troubles they informed ...
A: Mr. Sutton: Your argument will be that you are an employee. The employer has not reported all your ...
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| 1099 | 9/19/2008 |
Q: I am an acupuncturist who was recently an employee at an acupuncture clinic in NYC from Feb 08 till ...
A: Sebrina: If you are an independent contractor she would be renting you a place for a set amount a ...
|
| 4361 | 9/16/2008 |
Q: My husband is a United Methodist pastor. He opted out of social security in June 1997. We have never ...
A: Holly: The form 4361 should have been filed by the 2nd year when your husband had $400.00 or more ...
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| IRS Audit | 9/15/2008 |
Q: I am from the State of California. I married my husband in 2006. We filed our 2006 taxes and the ...
A: Marlene: You need to contact an attorney. It will be well worth your money to consult with an ...
|
| Ministry work | 9/12/2008 |
Q: I am a unpaid volunteer Coordinator in Alabama for a world wide ministry. What this means is I ...
A: Martine: What do you do ordinarily to earn a living for you to write this off. You will need to ...
|
| Filing W4 Exempt | 9/10/2008 |
Q: I had an employee come to my office and wanted to change his W4 to exempt. His income is over ...
A: Janie: That is the IRS rule. Unless his accountant has calculated his tax liability for the year ...
|
| contract labor | 9/7/2008 |
Q: I recently started working(state of Texas), my employer never asked for me to fill out a W-2. I ...
A: Marta: You need to set aside at least 25% of your pay for social security, medicare, and income ...
|
| Claim daughter on taxes | 9/6/2008 |
Q: We have a daughter that we support. She lives with her grandparent. My husband has custody. She has ...
A: Laura: She must live with you. If she lives with someone else and if she is 18 an older she is in ...
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| income tax | 9/2/2008 |
Q: My husband is a truck driver. We live in oregon but his yard is in california. Do we have to pay ...
A: Kendra: Does he perform any service for his employer in the state of California? If he does he is ...
|
| Michigan employer, Florida employees | 9/2/2008 |
Q: My husband resides in Michigan but has new postal runs in Florida. We do plan to move down there by ...
A: Laura: If you are a corporation you probably will need to register as an out of state corporation ...
|
| Commission Tax | 8/30/2008 |
Q: I work for a Retail Department Store (Federated), in the cosmetics department..In our employee info ...
A: Susan: It's the federal withholding tax. It is added to your income tax paid in totals for the ...
|
| Uniform allowance | 8/29/2008 |
Q: As a police officer I receive a yearly "uniform allowance". Up until 2007 no state or federal taxes ...
A: Matt: Realistically your top rate is probably 28% unless you have other income that requires you to ...
|
| 401k hardship withdrawl | 8/29/2008 |
Q: we are trying to take monies out of my 401k for hardship. we were told we need documents to prove ...
A: Janet: I know it is rough. I feel for you and your situation. Hardship cases for withdrawal of ...
|
| Volunteer | 8/27/2008 |
Q: Oregon state has an exclusion for volunteers whom donates service for no remuneration or without ...
A: Brian: Under federal it is wages, I find no exclusion for income tax purposes. However, if its a ...
|
| taxes | 8/26/2008 |
Q: what happen when you have a lien on you house and the ten years of you taxes already pass. and is ...
A: Ms. Hermandez: I need a little more information before I can render an opinion. My understanding ...
|
| Roll 401K $ to IRA for first time home buyer | 8/25/2008 |
Q: My husband and I would like to buy our first house. I am 25 and he is 28. I have a 401K with just ...
A: J It is my recommendation to leave the retirement money in place. Never use it to purchase a house ...
|
| Residency | 8/24/2008 |
Q: I am looking at buying property in Mexico and building a house there. I will live in the house as my ...
A: Tom: All you need to do is declare Mexico as you residency. However, you will give up the right to ...
|
| paper route | 8/23/2008 |
Q: I am a single female who has two jobs, making 56,000 a year at the first and the second I just ...
A: Kelly: 30 miles a day equals to about $15.00 a day deduction in mileage off the earnings. You will ...
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| dependent tax deduction | 8/22/2008 |
Q: I have a child who will turn 24 on December 29,2009. Can a tax deduction be taken in January 2010 ...
A: Adrian: If the child is in college and you are the only means of support. Age 24 is the absolute ...
|
| SAVING TAXES ON WITHDRAWAL FROM IRA | 8/22/2008 |
Q: IS THERE ANY WAY THAT I CAN PREVENT OR DELAY PAYING TAXES IF I WITHDRAW A LARGE AMOUNT OF MY IRA? ...
A: Norma: If you are 59.5 years of age or older and have a medical reason you maybe able to withdraw ...
|
| 1099 | 8/21/2008 |
Q: my employer has told me I will receive 1099. I do not know what that is other than research online. ...
A: Martha: It appears your employer wants to consider you to be an independent contractor and not an ...
|
| 1099 employee/employer | 8/21/2008 |
Q: I have hired a nanny for childcare and hadn't discussed the tax situation. I need to have the ...
A: Catheren: She is your domestic employee. You will be required to withhold income, social security, ...
|
| 1099 Tax form and liability | 8/20/2008 |
Q: Good afternoon Glen, I am working as an independent contractor in Chicago, Illinois for the past 4 ...
A: Adena: You will need to file 1040ES which will determine your tax liability for this year. For the ...
|
| 2 JOBS/SAME EMPLOYER ; F-T; INDEPENDENT CONTRACTOR | 8/19/2008 |
Q: Small VA mfg co. Have f-t employee in Assembly. She also works after hours as our independent ...
A: Pam: The typical problem with the typical response. I have a worker who is working for me as an ...
|
| Taxes | 8/19/2008 |
Q: I have a question regarding taxes. Just to give you alittle background. I worked at a job for 15 ...
A: Gary: You need a good tax lawyer to get you out of this tax nightmare. As I have said so many ...
|
| 1099 and working for non profit | 8/18/2008 |
Q: A friend is unemployed. Helped at church and was furnished a 1099 for 2007. Was told at ...
A: Al: I am so sorry, but, once the act has already been done there is nothing she can do to undo the ...
|
| CA tax if living and working in Nevada | 8/14/2008 |
Q: I primarily work at my home office in Nevada (80% of the time). 20% of the time I work in ...
A: Megan: You may owe taxes in both states. My state does not have state income tax, therefore, I ...
|
| Residence tax | 8/14/2008 |
Q: I live in Iowa State.My company deduct only Nebraska taxes .Is it ok if they don't collect the Iowa ...
A: Vijay: I can not answer your question directly. However, if you work in one state and live in ...
|
| W4 Question | 8/12/2008 |
Q: I am working for a contractor in West Virginia. As an employer, can they dictate my W4 status? I am ...
A: Jeremy: I do not understand your question regarding the fixed $75. If you claim 10 dependents will ...
|
| IRS and S-corps | 8/1/2008 |
Q: Under IRS regulations, can a owner or principal of an S-corp pay themselves a salary as an ...
A: Larry: As an officer of a corporation, including an S Corporation, you are an employee and are ...
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| taxing part time employees under the age of 18. | 7/28/2008 |
Q: I am trying to determine if I need to take out taxes for part time employees who make less than ...
A: Craig: Yes you need to take out and report the kids. Since they are being reported as dependents ...
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| Taxes on income overseas, but living in the U.S. | 7/23/2008 |
Q: I have a job opportunity working in the Kingdom of Saudi Arabia (KSA) as a pilot for a business ...
A: Glenn: Under first impression I do not believe that it will effect the exemption rules. You have ...
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| Taxation of year end bonus to recipient | 7/22/2008 |
Q: I prepare my son's tax return. He is employed as a project manager for a large construction firm and ...
A: Beverly: The bonus should be reported on the W-2 along his other wages. The bonus is wages not ...
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| per diem | 7/21/2008 |
Q: I have a question about receiving per diem. I have been working in San Francisco for 18 months, for ...
A: Mr. Richard: Per diem is a way to pay an employee when he travels for the employer. There is no ...
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| Resellers tax | 7/21/2008 |
Q: WE are a resellers in CA we bought an item in TX and was a drop ship in TX, the shipping was charged ...
A: Ms. Capitanachi: If you have all your tax forms in order to operate a retail sales operation then ...
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| Unemployement Benefits | 7/20/2008 |
Q: I was informed by my employer that my job of 4 years was being relocated to another office and that ...
A: Ms. Johnson: The employer can claim anything he wants to claim. However, stick to your guns. The ...
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| state income tax | 7/18/2008 |
Q: I know someone who lives and works in DC. She is getting Maryland state tax withheld from her ...
A: Sandi: Maryland has an agreement with DC that employers will withhold state income tax and forward. ...
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| Employment status | 7/16/2008 |
Q: I agreed to fill in for an employee who is out for surgery in the month of July at a winery that I ...
A: Elizabeth: You are an employee not an independent contractor. It is apparent that the employer is ...
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| OFF the Books | 7/16/2008 |
Q: currently work off the books but my employer pays me with a check. i have been working there for ...
A: Steve: If you are working for your employer as an employee, the wages you are earning are being ...
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| health care premium | 7/8/2008 |
Q: Our Company offers health insurance to the employees - the company pays most of the insurance cost ...
A: Teresa: Any premiums paid by the employer is considered an expense against income. If a formal ...
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| Interstate Unemployment | 7/8/2008 |
Q: My girlfriend and I were both laid off a few weeks ago, 5 months after moving from Ohio to ...
A: Scott: More than likely your unemployment benefits are calculated on your employment in Ohio and it ...
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| Seperated parents and taxes | 7/8/2008 |
Q: My friend is the father of a 17yr old girl. He is not and has never been married to the mother but ...
A: Debra: This is not separated parents in a legal sense, it is a child born out of wedlock. A parent ...
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| house as a gift | 7/7/2008 |
Q: My dad wants to give me his house but i do not know how to go about it or were to start. Can you ...
A: Panfila: I do not know the circumstances, but, you should go to www.irs.gov and read up on gifts. ...
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| family employee for SMLLC | 7/7/2008 |
Q: I have a single member LLC formed in Dec 2006 with an EIN in New Mexico. I now wish to hire my ...
A: Keith: First LLC's have no family, but, the member may have a family. Therefore, LLC's have no ...
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| unemployment qualifications | 7/7/2008 |
Q: I live in New York State, I'm 66 years old, I was terminated by my company, I will be collecting a ...
A: Anthony: You do have the right to contest New York denial of unemployment benefit. You may have ...
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| FOREIGN PERSON - LLC! | 7/7/2008 |
Q: I am not a US citizen and not a us resident. I am from Argentina and I have an online business ...
A: Mr. Ares: First you have to apply to some state, secretary of state, to see if you can register an ...
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| inheritance tax | 7/4/2008 |
Q: Our parents died. They had a cd and savings included in the family trust. Also had insurance, IRA ...
A: Noris: All inheritance tax will be paid by the estate. In some rare cases, inherited money may be ...
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| health care premium | 7/3/2008 |
Q: Our Company offers health insurance to the employees - the company pays most of the insurance cost ...
A: Teresa: A 125 Plan for the employee's portion of the Medical Plan is the only way an employee can ...
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| PRI-States-tax | 7/1/2008 |
Q: Should I be getting PRI-TAX taling out my check if I live in ca and my company is base out of ...
A: Andrew: Could you please re-ask your question clarifying the meaning of PRI-TAX and CA? As I ...
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| injured spouse form | 6/28/2008 |
Q: Can I file for more than one year, if this happened more than one year since we have been married?
A: Kelly: I presumed your question to be can I go back and amend my previously filed tax return on a ...
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| short saling a home and tax repercussions | 6/28/2008 |
Q: I don't know if I am asking the right individual so if not, I apologize in advance. I am doing this ...
A: Kathy: Based on the information you have provided she will not owe any income tax on the gain in ...
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| Getting a 1099 for a gift | 6/26/2008 |
Q: My girlfriend won a trip for her and a guest to a destination. Her company is sending me a 1099 ...
A: Joey: Nothing is free. You will owe taxes on the value (their cost) of your part of the trip. ...
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| interstate unemployment | 6/25/2008 |
Q: Recently laid off from my home state but I have worked in several states over the past year and a ...
A: Jeremy: You need to file a claim in whatever state you are in reporting all your employers. The ...
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| notice of debt LA County | 6/24/2008 |
Q: I received a notice of debt filed by the los Angeles County treasurer and tax collector in the ...
A: Kabir Chopra: You will need to bring your mother along. I assume she is the one who filed for food ...
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| gift from foreign national | 6/23/2008 |
Q: Who would be liable for tax ( if any) if a foreign national , with no residency or ties in the USA, ...
A: Tom: How will the foreign national know whom to give a gift if they have no contact with the USA? ...
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| 1099 filing | 6/23/2008 |
Q: My previous job the employer was to take taxes out of my check. But instead he said that I was going ...
A: Mark: You, from all that you have said, are an employee. If the employer reports you another way ...
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| W2 and 1099 income from same employer | 6/22/2008 |
Q: I recently left a firm that I had been work with for approximately two years that never made the ...
A: Dan: This would be a good time to "whistle blow" on this employer. The reason for unemployment tax ...
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| Tax classification | 6/19/2008 |
Q: I was going to join a group practice as an associate. The group was going to be supplemented by the ...
A: Angie: If you fill out a W-9 form with the hospital the total money sent in your name will be ...
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| Per Diem Deduction for truck drivers | 6/16/2008 |
Q: I work for a trucking company that recently instated a policy requiring all of it's drivers to have ...
A: Bob: I was not aware that per diem was deducted from your gross pay? I do not know the answer to ...
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| referral fees under $400.00 | 6/14/2008 |
Q: To continue the discussion, I have a few more questions. Is there a minimum that you do not have to ...
A: Ra: Referral fees are a fiction. It is another word for paying someone for their services without ...
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| benifits | 6/11/2008 |
Q: Please describe me the difference between w2 (with benifits), w2 (no benifits) & 1099? thank you.
A: Bruce: W-2 is the form used to report to the social security administration and to the IRS what ...
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| 1099 Misc needed?? | 6/10/2008 |
Q: I just started a company its an LLC and I am wondering when I provide service for my clients (I have ...
A: Angie: I know I have been a little difficult with you. I take very seriously the job of accounting ...
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| 1099 Misc needed?? | 6/4/2008 |
Q: I just started a company its an LLC and I am wondering when I provide service for my clients (I have ...
A: Angie: I would send you a 1099 if you were paid $600.00 or more. However, you are the bookkeeper, ...
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| unemployment | 6/4/2008 |
Q: I HAVE RECENTLY RESIGNED FROM MY JOB OF 24 YEARS. I HAD A RULE VIOLATION AT WORK AND WAS SUSPECTED ...
A: Greg: In my state when unemployment benefits are involved, a separation is changed to a ...
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| unemployment | 6/4/2008 |
Q: I HAVE RECENTLY RESIGNED FROM MY JOB OF 24 YEARS. I HAD A RULE VIOLATION AT WORK AND WAS SUSPECTED ...
A: Greg: If you turn it into a resignation then the unemployment benefits you have received may be ...
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| claming a child | 6/3/2008 |
Q: My fiance and his X-girlfriend have been seperated for about 5 years now and i have one child ...
A: Jenna: Without a court order, he will not be able to claim the child. The test is with whom does ...
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| Board of directors | 5/26/2008 |
Q: I recently have been made a director of a company in addition to my regular job. My income is ...
A: Mitt: Anytime you have income that is not being reported on W-2 you are required to make estimated ...
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| Unemployment Taxes On Commionised Employees | 5/24/2008 |
Q: I own a mortgage company in Texas. Some of our LO's are W-2 and some are 1099, depending on whether ...
A: Wes: Anyone can file a claim for unemployment. However, if they quit, was terminated for cause, or ...
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| non profit work | 5/23/2008 |
Q: Greetings, I am a software engineer. If I donate a few hours a week to a non profit project can I ...
A: Stan: Thanks for clarifying the situation. I am sorry that the non-profit is having a difficult ...
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| Employer wants me to consider use of company truck as compensation | 5/23/2008 |
Q: Mr. Tidwell, I am a glazier, using a company-owned truck to go from my home, to the company ...
A: Brad: Usually at the end of the year the employer will give an employee a 1099 listing the dollar ...
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| non profit work | 5/23/2008 |
Q: Greetings, I am a software engineer. If I donate a few hours a week to a non profit project can I ...
A: Stan: I donate many hours a week every week here, I have never thought of taking a tax deduction. ...
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| LLC | 5/23/2008 |
Q: My husband and I buying our primary residence. We are thinking of forming a LLC. We do not own a ...
A: Tamara: In order to set up an LLC, you must have a purpose (business). It appears that it will be ...
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| Federal Tax Lien | 5/21/2008 |
Q: A few years ago my husband had a Construction company. It was a corporation and I was on the ...
A: Barbara: The IRS gets very ill when it comes to trust fund money. Trust fund money are those ...
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| Relocation Repayment and Taxes | 5/21/2008 |
Q: John, A job didn't work out and now I am being asked to repay relocation expenses (~20k) and a bonus ...
A: Jerome: When you file your return you will not have the income that you have paid taxes therefore ...
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| Employee Car Allowance | 5/19/2008 |
Q: My employer has decided to go from mileage reimbursemnt to a monthly car allowance. I have been ...
A: Jon: Yes it will be imperative that you keep up with the miles you drive on the job. That will be ...
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| NY tax implications for OR employer | 5/15/2008 |
Q: We are an Oregon State company. One of our technical employees is moving to NY but we want to retain ...
A: Mark: Your employee will still be your employee you will report his income for state tax purposes ...
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| Per Diem | 5/15/2008 |
Q: I want to know if per diem is subject to ss tax and Medicare tax? I though per diem was suppose to ...
A: Charlotte: No its not subject to social security or medicare tax. Per Diem is what an employer can ...
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| Employee vs Free lancer and tax withholding | 5/14/2008 |
Q: I have a former employee that is now doing freelance work for us in the same calendar year. Should ...
A: Culver: Usually if a person has wages from you then all their income will be considered wages ...
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| ESOP | 5/13/2008 |
Q: I'm sorry Mr. Tidwell for repeating this question, but after reading my previous question, I found ...
A: Sandra: First of all the members of the ESOP have a vote to elect the member(s) of the board of ...
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| per diem rules | 5/12/2008 |
Q: My husband has always went out of town and got per diem. They are given X amount per day and if ...
A: Norrie: The IRS allows a company who send an employee to a distant place to work some latitude on ...
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| Business use of home | 5/10/2008 |
Q: I have converted a covered carport into a studio to be used strictly for business. Can I deduct the ...
A: Alex: You may not deduct the cost of converting the carport. However, you may depreciate the cost ...
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| excessive mileage taxes | 5/8/2008 |
Q: I recently payed $4500 in excessive mileage fees 30000 miles@ .15 cents per mile. I paid the $4500 ...
A: Mr. Frazier: Its not mentioned in you question, but, I am assuming that the excessive mileage is on ...
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| Tax rate for a wage settlement from previous employer | 5/6/2008 |
Q: Half of my employment settlement was paid to me as wages. I have two concerns. One being, I told the ...
A: Kris: In one case you had to little taken out and the other you had too much taken out but by the ...
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| daycare tax question | 5/6/2008 |
Q: Let me give you some backqground before asking my question. Married filing jointly Gross $146000 ...
A: Dusty: The money given to you would be taxable, if on the other hand, the company pays the money ...
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| primary residence | 5/5/2008 |
Q: I own a house that was my primary residence from 2001 to 2007. During that time the value of the ...
A: Shakti: I do not speculate on illegal activities. When you use the term "mock" sale or some scheme ...
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| sale of residency | 5/5/2008 |
Q: My wife and I have been living in a nj residency since 1994 through Nov 2006 when we moved to ...
A: Axel: For federal purposes it makes no different in which state you reside, but, for state purposes ...
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| Colorado Unemployment (Act 8-76-102(3)) | 5/2/2008 |
Q: Received a notice from a client that they have a NOTIFICATION OF POLITICAL SUBDIVISION GROUP RATE ...
A: Beverly: I am not familiar with the Colorado Unemployment Act. However, In Tennessee a political ...
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| Commission only compensation | 4/29/2008 |
Q: Beauty shop owner pays commission only to hairdresser. Does she needs to withhold Social security ...
A: Ann: I know that other people make comments that commission only make a person an independent ...
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| dependants | 4/29/2008 |
Q: My mother who is 70 has recently moved in with us, her only income is Social Security about 13,000 ...
A: George: Probably not. You have to prove to the IRS that you paid 1 dollar more than the total of ...
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| Corporations/LLC | 4/28/2008 |
Q: I have a question about setting up a corporation or LLC (Limited Liability Company). I have an ...
A: Mr. Raza: Either a corporation or an LLC will protect your personal assets from the potential ...
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| Non-Equity Partner and K-1 | 4/17/2008 |
Q: I am a non-equity partner in a law firm. I get the same amount of money per month, regardless of ...
A: Bryan: You find yourself in the same situation that a great number of people, who do not have your ...
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| deducting boat slip fees | 4/17/2008 |
Q: I understand that boat slip fees are generally not deductible. However, what if the slip fee is a ...
A: Bill: Its the 2 to 3 year rule. That is over a 3 year period it must make a profit during one year ...
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| deducting boat slip fees | 4/16/2008 |
Q: I understand that boat slip fees are generally not deductible. However, what if the slip fee is a ...
A: Bill: If it is a business expense.. It is a business expense. If the boat is for entertainment of ...
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| Form 4794 Part 1- Changed Autos | 4/16/2008 |
Q: My wife is a realtor. In 2007 she got a new car, and I now drive her old car. There was no "sale" or ...
A: Charles: As long as she still has title to the vehicle she has not disposed of it. I interpret ...
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| teacher deductions | 4/14/2008 |
Q: I have a question regarding expenses related to educators. I am a very dedicated teacher and spend ...
A: Renee: The instructions are an educator (teacher) tax credit. All tax law discriminates against ...
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| Employer failed to withhold | 4/14/2008 |
Q: My question is... At the beginning of a new job last year I filled out all of my tax forms like ...
A: Rebecca: The employer is not liable for the income tax. They may be liable for interest and ...
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| SSI and Head of Household | 4/14/2008 |
Q: I have taken care of my father for the better part of 2 years, he gets SSI 540.00 per month and he ...
A: Ms. Fletcher: You can if you pay more than 50% percent of his up keep. That is all of his ssi ...
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| taxes | 4/14/2008 |
Q: If i am late on my taxes but money is due to me what will happen
A: David: Could be charged for failure to file tax return on time, could be a monetary amount, could ...
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| deductibles | 4/13/2008 |
Q: I have patented an idea of mine. In 2007 I paid a company to handle the marketing and licensing of ...
A: Mr. Collins: Please review at www.irs.gov under forms and publication information on form 1040 ...
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| cost basis of stock options | 4/11/2008 |
Q: company gave me shares of stock,how do i treat this on fed tax return? what do i use for "cost ...
A: Jon: When you exercised your stock option, the option price was $38.15 x 100 shares = $38,150.00. ...
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| Sale of Farm Land | 4/10/2008 |
Q: My father and his siblings inherited 30 acres of farm land. They are selling and each stands to gain ...
A: Ms. Slattery: The sell of this property is what is called a partition which requires all the ...
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| Sale of Farm Land | 4/9/2008 |
Q: My father and his siblings inherited 30 acres of farm land. They are selling and each stands to gain ...
A: Ms. Slattery: If the estate is selling the property and the children will be receiving distribution ...
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| Medical Expenses | 4/9/2008 |
Q: Both my husband and I became self-employed this year and will have to have pay insurance out of ...
A: Jenn: Yes it appears that you may be able to deduct certain medical insurance, unless congress ...
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| auto mileage and depreciation | 4/9/2008 |
Q: What is this depreciation? I take standard mileage expense but Turbo Tax is forcing me to answer a ...
A: JP: It does not have anything to do with mileage deduction. It is getting information to determine ...
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| Taxes for newly formed LLC | 4/8/2008 |
Q: I formed LLC in 2007, If there is no revenue, how would you file taxes for your LLC? I am not clear ...
A: Sean: If you had no revenue did you have expenses? John Sean: The IRS prefers that when you ...
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| State Tax | 4/8/2008 |
Q: I live in Texas and working for an IL-based consulting company and worked for two clients for year ...
A: Mr. Kahn: If you live in Texas an when you work did you travel to Illinois an Michigan to perform ...
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| nj 1065 filing fee | 4/7/2008 |
Q: will have to pay a filing fee even though i had no gain or loss with my business, i formed an LLC ...
A: Mr. Gallo: I am not understanding you question. If you have an LLC that is a charter filed with ...
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| claiming dependants | 4/4/2008 |
Q: My brother is legally married but separated and since when he was wife and was the only one working ...
A: Yolanda: These issues will have to resolve by court. He should have been able to use them on his ...
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| claiming dependants | 4/3/2008 |
Q: My brother is legally married but separated and since when he was wife and was the only one working ...
A: Yolanda: No. John Yolanda: I could spend all day in the land of possibilities on how your ...
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| schedule C small business loss | 4/3/2008 |
Q: In general, can you recommend a strategy to deal with a small business net income loss due to ...
A: Peter: I know you get to expense items used in your business but not loans. You get to expense the ...
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| schedule C small business loss | 4/3/2008 |
Q: In general, can you recommend a strategy to deal with a small business net income loss due to ...
A: Peter: As you know from accounting 101 start up cost is not expense. Loan interest is an expense ...
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| Tax per month | 4/2/2008 |
Q: I am moving to Austin, Tx and am in the process of purchasing a home. I will be making ...
A: David: If you are single your income tax rate will probably average around 18%. Your social ...
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| form w4 | 4/2/2008 |
Q: How can I file my taxes in a way where they will take out the least amount of money? I currently ...
A: Lyra: You must correctly file your W-4 form according to your status. If they are taking out too ...
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| checks due in may | 4/2/2008 |
Q: I heard that the checks will be issued in order of the last two digits of your social. That i may ...
A: Kara: Yes it is true it is based on the last 2 digits of your social security number. If you use ...
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| Army contractor Afghanistan | 4/1/2008 |
Q: I LIVE in MA. I work (part time) 6 months out of the year in Afghanistan as a civilian contractor. ...
A: Phillip: If you live in Maine and can vote in Florida, must have a listed address in Florida to be ...
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| schedule C small business loss | 4/1/2008 |
Q: In general, can you recommend a strategy to deal with a small business net income loss due to ...
A: Peter: Are you a priorship or are you an LLC. I am not understanding the start-up expense that you ...
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| 1040EZ adn 540EZ | 4/1/2008 |
Q: Can I use a 1040EZ and a 540EZ if I have both, a 1099-R and a W-2 to attatch? Thank you.
A: Pat: If you have a 1099-R, distribution of pension or annuity, you must use a 1040 long form. I do ...
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| Relocation Bonus Repayment | 3/28/2008 |
Q: I have a tax question I hope you can help me out with. I am relocating and as part of the ...
A: Curtis: If the money is paid to you and you repay it before the end of the year it should not show ...
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| Capital Gains and Tbills | 3/27/2008 |
Q: If I received Tbills as a gift and cashed them in, is the first 10K of the interest taxed or not ...
A: Carlinda: Who ever give a gift and its over the ceiling must pay the tax on the gift. If you have ...
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| Tax on lost wages settlement | 3/27/2008 |
Q: I received a settlement for lost wages due to auto accident while on the job. I have heard ...
A: Paula: If the law suit was against someone other than your employer the answer is no, its not ...
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| 1099-patr | 3/26/2008 |
Q: I have a 1099-PATR with box 1 $13,199 (Patronage dividend)having to do with an ethanol producing ...
A: Patricia: I am sorry but I have never dealt with a 1099-Patr before either. I am not sure what ...
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| paying taxes as contracted labor | 3/25/2008 |
Q: my husband recently got a new job(haven't even seen a paycheck yet)as a contracted trucker. i have ...
A: Star: That I can not answer because you have to calculate your net taxable income for the year. You ...
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| Real Estate | 3/24/2008 |
Q: My father is elderly and has a home in his name that is empty and does not live there and also some ...
A: Georgia: That is an incorrect assumption. The money is his and you are only on the account in case ...
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| paying taxes as contracted labor | 3/24/2008 |
Q: my husband recently got a new job(haven't even seen a paycheck yet)as a contracted trucker. i have ...
A: Star: 1040 ES is the form you use to report income, social security, and medicare taxes. When you ...
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| section 199 deduction | 3/24/2008 |
Q: who qualifies to take this deduction and what determines the amount of the deduction
A: Dennis: A business with "qualified production activities" can take a tax deduction of 3% from net ...
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| Tax deductable mileage | 3/23/2008 |
Q: I work for an company as a transcriptionist. From Dec. 2005 to March 2007 I worked at the company's ...
A: Naomi: Your place of work is the office where you worked before they allowed you to work from your ...
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| Dependent Income | 3/23/2008 |
Q: My daughter lives at home, is a full time college student and managed to work enough to earn ...
A: Keith: She will file her own return. But it will be better if she claims herself on her own return ...
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| estimated tax 2008 - how do foreign credits work ? | 3/23/2008 |
Q: All my income is pension and interest from the UK. Say my 2007 US tax was 15000 less 12000 in UK tax ...
A: Mr. Hill: I can not answer that question only you and UK know when or if they will be taxing you in ...
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| Tax deductable mileage | 3/23/2008 |
Q: I work for an company as a transcriptionist. From Dec. 2005 to March 2007 I worked at the company's ...
A: Naomi: You can deduct work related mileage expense. However, you can not deduct commute travel to ...
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| Tuition Tax Question | 3/22/2008 |
Q: I am a student and have over $12,992 in tuition costs. I have no idea how claiming my tuition works ...
A: Tara: I meant for you to pencil in a 1040 to see which form would be best for you to file. You ...
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| semi leasing | 3/22/2008 |
Q: if we lease a tractor/trailer from a company we drive for and receive a 1099, can we take the ...
A: Tracy: Do you own a trucking business? If you own your own business then you must file a 1099 ...
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| my father in law passed do we need to file his taxes | 3/21/2008 |
Q: My father in law passed away June of '07 he didnt have anything or money but we were granted to take ...
A: J: To many unanswered questions you need to seek the advice of a local attorney on tax matters ...
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| Taxable per diem | 3/19/2008 |
Q: Taxable per diem I am a resident of Florida and currently working on contract with a company in ...
A: Pius: You will file a 2106 form to list the expenses that you had and hopefully will be enough to ...
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| Taxable Social Security | 3/19/2008 |
Q: I received Social Sedcurity Disability from 1992 until 2002. In 2007 the Social Security ...
A: Michael: I have never looked into this situation before. If the lump sum is for benefits that ...
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| 1099C - Cancellation of debt | 3/17/2008 |
Q: I received a 1099C form.so do i report the 1099C income in the ONLY in federal form or in federal ...
A: Mr. Vaidyanathan: I do not know about your state. But on the federal return you must report it. ...
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| residences in two states | 3/16/2008 |
Q: ...my wife and I own property in Florida. After we retire in one year we plan on buying property in ...
A: Vince: You will be taxed according to what state is your state of residence and the state you are ...
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| W-2 and 1099 | 3/16/2008 |
Q: Mr Tidwell my position within the company i work for is marketing and sales. Upon employment we ...
A: Ms. Moore: The company should have reported the commission and base salary on a W-2. This does ...
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| Auto deduction | 3/15/2008 |
Q: I blew the engine in my vehicle which is used 40% for buisness and have had to relace it. Can I ...
A: Dan: You can deduct the business use of a vehicle. If you are deducting for business use of the ...
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| cash winnings | 3/15/2008 |
Q: i was told that if you win a cash prize of $600 or more there is a tax form to fill out. Do you ...
A: Barb: You must report all your income from ever source. The $600.00 amount you are referring too ...
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| paying tax on domestic help | 3/14/2008 |
Q: My mother in law had a hip replacement last year at 87 years old.Since she has been home ,one of her ...
A: Teri: If she is paying her Granddaughter to tend to her then yes it would be wages. The ...
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| 1099-Misc vs. W-2 | 3/14/2008 |
Q: I'm trying to determine whether earnings were reported correctly for a student. The student ...
A: Ryan: No the student is not exempt. If the child has been used as a dependent on a parent(s) tax ...
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| When does interest accrue from on IRS tax refunds? | 3/14/2008 |
Q: If I apply now to amend my 2006 IRS personal income tax return and am entitled to a refund on the ...
A: David: the irs will consider that you failed to file your income tax return correctly claiming all ...
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| estate tax | 3/12/2008 |
Q: I am a dutch citizen, so is my mother. The brother of mother (he is a Canadian citizen, who lives ...
A: Mr. Buijvoets: I am sorry but I do not pratice Canadian tax law. I am unfamiliar with their ...
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| Florida resident working for a Georgia company | 3/11/2008 |
Q: I read where I can deduct my Georgia state taxes on my Schedule A Fed return, but should I file ...
A: Ray: Do you work in Georgia or do you work in Florida? If you work in Florida only then you do not ...
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| IRS Audit | 3/11/2008 |
Q: Good Morning and thank you for making yourself available for advice. I've been married for 5 years ...
A: Aneika: The IRS can go back 6 years without question and go back even further if fraud or smoother ...
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| Employee and IC | 3/10/2008 |
Q: I work sales at a Scuba store (employee). I am in the process of earning my instructor ...
A: Kim: It is very difficult to be both the master and the servant of the same business. The ...
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| minor children and taxes | 3/10/2008 |
Q: I am a step father who has two step sons, ages 13 and 19. My wife is the mother of the two ...
A: Vince: The age of majority is 18. For tax purposes if the child lives with you and you pay for ...
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| Fitness center asset lives | 3/8/2008 |
Q: How many years should fitness equipment be depreciated over? Do you know where I can find back up ...
A: Mr. Simpson: I am not sure of the category the fitness equipment falls into. However, at ...
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| taxes and 401K | 3/8/2008 |
Q: I am 33 years old and would like to purchase my first home. I have a 401K worth over $100,000 thru a ...
A: Afrique: Early withdrawal of a 401K has a hefty penalty attached. It is 10% plus paying income tax ...
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| alien no resident , return tax form to fill | 3/8/2008 |
Q: I am an Italian . I live in Italy and I am consultant of American Research Institute ( Space ...
A: Angonio: This not an easy question to answer. Some additional information is needed to complete my ...
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| 1099 filed inadvertently for an S-Corp | 3/8/2008 |
Q: I am a Realtor who has incorporated. I subcontract for another real estate company- to which I ...
A: Jenny: It is not to late for them to correct this problem. It appears that they do not "want to ...
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| nonresident alien taxation | 3/7/2008 |
Q: Tidwell, I am an unemployed US citizen, married to a Swiss and living in Switzerland, where he ...
A: Anna: Mere ownership of property does not make one liable to the United States Government for ...
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| receiving a bonus | 3/7/2008 |
Q: I work for a preschool that is housed within my church, and the church wants to give me a bonus, but ...
A: Jody: The bonus must be reported as wages and the proper taxes withheld for both state and federal. ...
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| tax on life estate | 3/7/2008 |
Q: i was deeded fathers home october 9th, 2007. im currently getting a life estate deed for him. should ...
A: Mary: You have not provided me enought information to answer your question correctly. I really do ...
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| Partial sale of inherited stock | 3/7/2008 |
Q: I live in Virginia and handle my Mother-In_laws financial affairs. My Father -In-Law passed away in ...
A: Jarl: As a trustees of a trust selling the assest of that trust should be prudent. The trust could ...
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| income tax check garnished | 3/6/2008 |
Q: for the last 4 to 5 years, I have had my tax income checks garnished to pay off student loans, I ...
A: Wanda: I would let you have all your refunds. However, I am not the IRS who follow the law written ...
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| 1099 misc | 3/3/2008 |
Q: Sir As an independent contractor for DoD, should I have received a 1099 misc from the ...
A: Alan: A 1099 is only for personal service. If you are contracting you are operating a business ...
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| 1099's | 3/2/2008 |
Q: My father is a contractor. He hired several people to work for him but never collected and ...
A: Ms. Stier: He should have collected names, social security number, and address. If he hired people ...
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| college student | 2/29/2008 |
Q: If we claim our son as a dependent, but he has supported himself for 7 out of the 12 months (5 ...
A: Eileen: For 2007 your son does not meet the must live with you for six months of the year test to ...
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| tax ramification | 2/28/2008 |
Q: My question is in reference to a Short Sale. I have a property that I own for the last 10 years, I ...
A: Mr. Pazmino: What do you mean by a short sale. I can not answer the question regarding what the ...
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| Work tools | 2/27/2008 |
Q: I've been a heavy equipment mechanic for last 20 yrs. I've heard as a mechanic you might be able to ...
A: Nelson: If as an employee you are required to have and maintain tools at your own expense can ...
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| Restricted Stock Units - how to treat - clarification question | 2/27/2008 |
Q: I have a follow up question to the response made to a posting on 3/27/06 re: Restricted Stock Units ...
A: Rebecca: I believe that TURBO TAX has correctly calculate the proper place to report any income ...
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| Question on state tax filing | 2/26/2008 |
Q: My employer is running my payroll in NJ and I am residing in VA since 1 year. I don't have any ...
A: Haritha: Your employer should be reporting your income to VA for state income purposes. If they ...
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| Birmingham occupational tax | 2/26/2008 |
Q: I was transferred to another store within the "technical" city limits. I have worked at many stores ...
A: Laura: Your income has not dropped your tax has increased. It is your take home pay has decreased. ...
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| Deductible court ordered payment to ex | 2/26/2008 |
Q: NM State court had be pay my ex spouse approximately one year of my military retirement pay even ...
A: Mr. Fluitt: Refer to line 31 of form 1040 you put in the amount you paid your ex-wife an enter her ...
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| Unreimbursed employee business expenses | 2/25/2008 |
Q: "If your work location is considered temporary you can deduct the expense. A work location is ...
A: Shane: Now the picture is clear. You work for a company. That company contracts out your services ...
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| Unreimbursed employee business expenses | 2/24/2008 |
Q: "If your work location is considered temporary you can deduct the expense. A work location is ...
A: Shane: I am confused about your question. Are you an employee or do you have your own business? ...
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| My car allowance was reported on a 1099-MISC | 2/24/2008 |
Q: I received a 1099-MISC for a car allowance that my company is paying for. I was reading on IRS ...
A: Jorge: Car allowance is a W-2 item not a 1099. I do not know what I can say that will be correct. ...
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| primary residence | 2/22/2008 |
Q: I would like to generate extra income by open my primary home as a bed and breakfast. What would the ...
A: Heidi: If a portion of the house is still a residence, an a portion of the house is a bed an ...
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| Tax Question | 2/22/2008 |
Q: My daughter married in November 2007. Since they lived together for most of 2007, they have decided ...
A: Debbie: Who's name is on the 1098's and who's social security number is on the 1099? That is the ...
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| tax liability buyout | 2/21/2008 |
Q: my ex wife is requesting that I buy her share of ownership in our house. She is on the deed along ...
A: Michael: If you pay her what she request you will add that to the cost of the house for future use ...
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| 1098-t STUDENT FORM | 2/20/2008 |
Q: WHEN I EMAIL YOU, AND ASK YOU ABOUT THE 1098-T THAT I RECIEVED AND ASK YOU WHERE TO FILE IT AND YOU ...
A: Justin: The 1098-T indicate what you have paid in the list year for qualified education expenses. ...
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| Per Diem | 2/15/2008 |
Q: I am an engineering contractor negotiating for salary for a new position. I will be receiving a w2 ...
A: Vincient: Per diem is for living expenses outside of you area. Usually per diem is a set amount ...
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| Incorrect 1099 | 2/14/2008 |
Q: I received a 1099 from my employer that included every expense for which I was reimbursed, such as ...
A: Garman: You will need to file a 2106 form to deduct these expenses. However, you will be required ...
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| Inheritence | 2/13/2008 |
Q: I migrated to canada a year back and now my parents want to gift the money(transfer properties) they ...
A: Nad: Yes, depending on the amount of life time gift, you will be required to report the gift an pay ...
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| military, out of state NYS resident | 2/12/2008 |
Q: I'm active duty military and live out of my state of residents, which is NY. I am looking for forms ...
A: Brian: You will need to contact the taxing authority for the forms. Try www.state.ny.com to see if ...
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| gift of money from parents sale of home to kids purchase of home | 2/11/2008 |
Q: My mom sold her house last year and gave us the money she made from the sale of the home so that we ...
A: Mayelin: More than likely she will have to pay gift tax on the money. It depends on the amount and ...
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| Business use of vehicle | 2/11/2008 |
Q: I worked as an independent contractor for approx. 7 months this past year. The vehicle I used was ...
A: Leah: I did research the form at www.irs.gov. When a person use the vehicle mileage method then ...
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| Tax deduction of student loan interest paid in foreign bank | 2/10/2008 |
Q: I have taken out a student loan in 2003 from a bank in India to study (Masters) here in US. And I am ...
A: Kaushal: You may be able to deduct the interest. Go to www.irs.gov and read up on the IRS ...
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| Withholding taxes | 2/10/2008 |
Q: Is my wife's new employer ..withholding the right taxes ? We see S.S.Tax,Medicare,and Pri-State ( ...
A: Wendell: It may be easy to find out by asking the employer what PRI-TAX includes. Since the ...
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| I NEED HELP | 2/9/2008 |
Q: I am a full time college student. I worked and filed exempt because of that. I dont know if I am ...
A: Theresa: No one is exempt from federal income tax. What you are paid is required to reported with ...
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| 1040X | 2/8/2008 |
Q: While e-filing my taxes somehow I did not enter my husbands W-2's. Now I am trying to fill out the ...
A: Riki: I do not have your tax return in front of me. Therefore, I am clueless of what figures you ...
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| filing a 1099 | 2/8/2008 |
Q: I received a settlement for a discrimination suit in new Mexico, I was told by the representative ...
A: Amanda: You need to consult with your attorney on this matter. I do not know and I have no ...
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| Business use of vehicle | 2/8/2008 |
Q: I worked as an independent contractor for approx. 7 months this past year. The vehicle I used was ...
A: Leah: Why are you using form 8832? That form does not relate to property depreciation or business ...
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| take out food tax in Atlanta Ga | 2/7/2008 |
Q: can a take tax be charged to your food order if you are not eating inside the restaurant?
A: Ms. Fleming: Do you mean can the restaurant add a take-out charge to your dinning-in experience. ...
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| IL Unemployment taxes | 2/7/2008 |
Q: Last year I received unemployment wages for six weeks from IDES. Half way thru those six weeks, ...
A: Shari: There is no way to show on your tax return that you have a credit. The IDES 1099 is ...
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| Health Insurance and Taxes | 2/5/2008 |
Q: I wanted to know if I could claim myself if I live on my own but I am still on my parents health ...
A: Brittany: If you are 18 years of age or older an not a student, your parents can not claim you as a ...
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| capital gains? | 2/5/2008 |
Q: I purchased a home in Texas in Aug 2002. I'm in the military and have recently been put on orders ...
A: Edward: If you have previously claimed the one time exemption on the sale of a house you could ...
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| filing in canada | 2/5/2008 |
Q: can i file for myself to live in canada and then file for my husband and son, if yes how long will ...
A: Odetta: To file in the USA you must work an live here. If you live in the USA an work in Canada ...
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| filing | 2/4/2008 |
Q: can i file for myself to live in canada and then file for my husband and son, if yes how long will ...
A: Odette: Does your husband live and work in the USA. If you have no United States Income there is ...
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| 1099 & deductions | 2/4/2008 |
Q: My husband's employer of the last 7 years has started with the 1099 business the last year and a ...
A: Ann: Please go to www.irs.gov an review the instructions for schedule c. That is an individual ...
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| meal allowances | 2/3/2008 |
Q: I am a paramedic and my husband is a police officer. We've been told we can deduct a flat rate per ...
A: Monica: Review form 2106 and the instructions at www.irs.gov. Then e-mail me back your additional ...
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| Fraudulent W2 | 2/3/2008 |
Q: I worked for an employer in 2003 and quit working for him in May of 2003 and opened my own business ...
A: Sandra: I have not a clue. Since, I am not privy to the details that you discussed with the IRS, I ...
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| Tax Question!! | 2/3/2008 |
Q: I have a somewhat complicated tax question!! In January of 2007, my then fiance (we were NOT ...
A: Jennifer: I am truly sorry, But, No you may not claim that expenses on your return. You are not ...
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| Home Improvement Expense Deductions | 2/2/2008 |
Q: Over the past 5 years I have made many improvements to my house, ie built large deck, painted and ...
A: Todd: Home improvement cost can be added to the cost basis of your house. But, it can not be ...
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| W-2 | 2/2/2008 |
Q: My daughter a student worked part time in 2007. She received her W2 form from her employer which ...
A: Bill: No it does not. It probably is that the accounting firm was not paid to do work after a ...
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| 401k early withdrawl - can I avoid it being included in income? | 1/31/2008 |
Q: I withdrew $36k from my 401k to use toward building a home. Now, my income is going up by $36k. ...
A: Brain: No there is not a way. Because the money that goes in is pretax money. Money that the ...
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| Patronage dividends | 1/30/2008 |
Q: I'm doing my tax for this year. I received $2277 in box 1 of 1099-PATR (Patronage dividends) from ...
A: John: Please provide me with more detail. Why did you receive a 1099. This type of 1099 is given ...
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| Office 2 | 1/30/2008 |
Q: I have an office in which I pay rent. I was going to write the rent off as an expense. I have a ...
A: Peter: If you have an office it is difficult to claim also a home office. Please go to www.irs.gov ...
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| Spouse Income | 1/29/2008 |
Q: My question is that if my spouse is not a us citizen and doesn't pay state tax. Can the state of ...
A: Riggs: I am not following your train of thoughts. If your spouse lives in the State of Alabama, ...
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| granddaughter | 1/27/2008 |
Q: our 20 yr old pregnant granddaughter came to live with us last may when she was 4 mo. pregnant we ...
A: Terry: Your granddaughter is 18 years of age and over. Therefore, she is no longer a dependent of ...
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| tax query | 1/27/2008 |
Q: I am from New Jersey and working and living in middle east for ceratin project (length not clear). I ...
A: John: The value of the house is income unless its for the convenience of the employer. The ...
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| CLAIMING MY DAUGHTER | 1/24/2008 |
Q: IM 17 AND I HAVE A DAUGHTER AND WE BOTH LIVE WITH MY MOM, I DO NOT HAVE A JOB. MY BOYFRIEND OR MY ...
A: Kasie: If you did not work during the year of 2007 you have no return to file. The question ...
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| I have recieved a 1099 and a w2 from same employer | 1/24/2008 |
Q: I worked for a company for 5 months as an employee (40 hours a week, paid hourly, same hours each ...
A: Jenni: It would be in her best interest to give you a w-2 and correct her quarter reporting forms. ...
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| tax return money and shared custody | 1/24/2008 |
Q: I am separated and we share custody, I filed my taxes for 2007 and I am getting a refund, do I have ...
A: Gail: Since you have already filed your return and will be getting a refund, I do not see how the ...
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| 1099-C | 1/24/2008 |
Q: Cancellation of Debt. I had credit problems 3 years ago and settled my debts for all my credit ...
A: Mike: The 1099-C is for the same period that you have already worked out withe the IRS. I would ...
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| GAIN ON SALE OF BUSINESS | 1/23/2008 |
Q: I am selling our business which we owned for more than 1 year. At the closing date, I need to submit ...
A: Mr. Dixon: The price allocation statement is not what you will use to file the tax return on the ...
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| Claiming a child | 1/22/2008 |
Q: I have a quetsion about claiming a child. My girlfreind who lives with me has been battling a crud ...
A: Michael: The most important one is with whom did the child lived during the year. The child must ...
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| Claiming a child | 1/21/2008 |
Q: I have a quetsion about claiming a child. My girlfreind who lives with me has been battling a crud ...
A: Michael: If someone else has custody of the children then your lady friend can not claim the child ...
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| ssdi | 1/20/2008 |
Q: I recently(12/04/07) recieved a social security back payment check for 23,300 with the assistance of ...
A: Mr. Stanley: There is no legal tax form that you can attached to a 1040 that will allow you deduct ...
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| bankruptcy | 1/20/2008 |
Q: I just claim bankruptcy 1/08 my ex report me to the IRS b/cuz they claim all three children and told ...
A: Mary: I am sorry you had to file bankruptcy. But, I am more sorry that I will not be able to ...
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| tax question | 1/19/2008 |
Q: i was wondering if i can use my last check stub to do my taxes online for free and is the id number ...
A: Ms. Spann: I can not answer the question about the number on the check stub, since, I have not seen ...
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| 1099-misc | 1/17/2008 |
Q: I have 3 questions that I cannot seem to get a direct answer from the IRS for. I work for a ...
A: Zoreen: You should drop the dba out of the name. You should give the celebrity a 1099 for the ...
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| Taxes and deductions | 1/15/2008 |
Q: This is a long story.i hope you can help.my husband and i went through legal separation and he sold ...
A: Ms. Stone: Its not the worst mess I have seen. However, I believe you can work thought this ...
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| Kentucky and Missouri Tax Dillema | 1/15/2008 |
Q: This is a really long story...but hopefully you can help! I live in Missouri normally, but have ...
A: Joshua: File a tax form for each of the taxing authorities stating your case. You will owe some ...
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| Going from 1099 to W2 | 1/14/2008 |
Q: I have been a contractor for a small design firm for 4 1/2 years. I am treated as an employee and ...
A: Andrea: He will be required to give you a w-2 at the end of the year. Which will summarize all the ...
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| TAX LAW-DEPENDENTS | 1/11/2008 |
Q: IF TWO PEOPLE UNDER THE AGE OF 18 HAVE A CHILD, BOTH UN-EMPLOYED, WHO ? IF ANYONE IS ALLOWED TO ...
A: Janet: As a general question I can not answer that question. The person who has the child is a ...
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| Non-custodial parent claiming dependent | 1/11/2008 |
Q: My ex and I have a nine year old son together who lives with her, that i have never claimed as a ...
A: Shad: Unless you have a court order to the contrary she is the only one entitled to claim your son. ...
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| Selling home | 1/11/2008 |
Q: Had my home built 11 years ago.....190,000 left on loan will be able to sell it for 390,000. I know ...
A: Mr. Polyefko: Improvements made to a house are added to the cost or value of the house. Repairs ...
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| Follow Up to a previous answer you gave on taxation of company vehicle use | 1/9/2008 |
Q: Here's theExpert: John L. Tidwell Date: 3/28/2007 Subject: Company vehicle use being taxed Question ...
A: Patrick: The IRS requires companies to declare that a vehicle is parked in the companies parking ...
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| SS8 and Employee Status | 1/8/2008 |
Q: It had been determined by the IRS that I was an employee for the years of 2003 and 2004 after I had ...
A: Nelson: You are responsible for income tax on your own earnings. You are responsible for 7.65% ...
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| NCP claims our child on taxes...never married | 1/7/2008 |
Q: My situation is I have been receiving child support from my daughters father since April 2007. He ...
A: Freda: He can claim anything he wants to claim. However, he has to explain to IRS how he is ...
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| Beneficiary inheritance tak | 1/5/2008 |
Q: I have about $250,000 in an after-tax TIAA account. My worth is considerably less than $300,000. (I ...
A: Steve: I believe it would be better to put it into a single premium annuity so that it will pass ...
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| per deim | 1/1/2008 |
Q: How do i claim my per deim on my taxes,i drive truck i am gone 19 hr aday i sleep in my truck ...
A: Brian: Does the employer give you per diem? If you file a report with the employer and in return ...
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| Sales taxes on cell phones | 12/31/2007 |
Q: We bought 2 cell phones from ATT this weekend. The advertised price, in the store and on the web, ...
A: Donna: If the retail price is listed before the discounting begins then the retail price will rule ...
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| Changing Filing Tax status | 12/30/2007 |
Q: My husband and I have been separated since 1999 and have been filing separate since then as head of ...
A: Ms. Martinez: Under that situation then you both would be entitled to file head of household. If ...
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| copies of paid medical bills | 12/27/2007 |
Q: My step daughter was in a boot camp until august of this year. My husband paid 2,000 a month and his ...
A: Diane: As you know some people after they divorce have no difficulty with each other, however, I ...
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| Tax Prep | 12/26/2007 |
Q: I am self employed web developer and have some questions about prepping my taxes. I have no clue on ...
A: Bryce: You are only required top keep the documents as a historical file to document the expenses ...
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| W2 and 1099 | 12/25/2007 |
Q: John, I recently began helping a friend with his accounting and he is paying his employees both W2 ...
A: Patches: He should correct the errors now if he waits to correct the error later it will cost him ...
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| Filing Independent | 12/22/2007 |
Q: I'm a 19 year old college student and just finished my third semester. My parents claim me as a ...
A: Ryan: Happy Holidays!! You should file your tax return as you should and if they claim you, it ...
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| United Nations and taxes | 12/19/2007 |
Q: I just got an offer (Contract) from United Nations. I am not a US citizen. I have applied for my ...
A: Maddy: If you are living in the US and are working in the US then you must report all wages you ...
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| Christmas bonus taxed | 12/16/2007 |
Q: My Christmas bonus was on a different pay stub than my salary stub this year. They tax my earnings ...
A: Donna: I can not answer that question. It is your employer decision which check book to write the ...
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| company provided vehicles | 12/16/2007 |
Q: When hired by a company to make deliveries they provided me with a company vehicle. Now they are ...
A: Linda: As an employee you would only be responsible for any miles driven if you are allowed to ...
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| LLC, Sole Proprietor benefits vs. C corp | 12/15/2007 |
Q: I am a physician in the process of joining a medical C-corporation as an employee. That aside, I ...
A: Dr. George: First I would choose LLC. With an LLC you have the benefit of Limiting your personal ...
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| 1099 VENDORS | 12/14/2007 |
Q: I just started cleaning and will be recieving a 1099 as a vendor, Do I have to pay taxes differently ...
A: Kate: You are an independent contractor that is you have a business you will use a schedule "C" to ...
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| Transfer of realestate property implications and deduction | 12/13/2007 |
Q: I have a questions about tax implications and possible benefits of doing a transfer of property. ...
A: Mr. Novikov: First in order to prove you provide support for your mother to the point she is a ...
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| Per Diem Restricitions | 12/11/2007 |
Q: I am a contractor working in Maryland, maintaining my residence in New York. I have been receiving a ...
A: Kristen518: Per diem does not work that way. Per diem is paid by an employer to an employee for ...
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| Christmas Bonus Taxed Differently | 12/11/2007 |
Q: My boss keeps telling us that our Christmas Bonus is taxed completely different than our regular ...
A: Tim: Unless you have some unusual extra income other than the $31,000.00 your top tax rate is 28%. ...
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| Contractor or Employee? | 12/10/2007 |
Q: My wife owns a dance studio and I want to know if the teachers are considered employees or ...
A: Mr. Clark: Your wife owns a dance studio. The studio advertises for paying clients who expect to ...
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| Employer withholding | 12/8/2007 |
Q: I work for a company in TN, they with draw fed taxes from my check weekly, I worked for 4 days in KY ...
A: Mr. Chambliss: Its not they can do that rather its they are required by KY state law. When you ...
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| capital gains | 12/6/2007 |
Q: My husband purchased 1 acre of property in AL 12 years ago for $32,000. He lived in the property and ...
A: Joan: Now that puts a different light on the picture. However, I would first look to see if upon ...
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| capital gains | 12/5/2007 |
Q: My husband purchased 1 acre of property in AL 12 years ago for $32,000. He lived in the property and ...
A: Joan: The investment of the 1 acre is $32000.00. 2/3 of of the $32,000 is associated with the ...
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| re: disabled & cc write off | 12/5/2007 |
Q: I am married and have filed previous returns with my husband. I also had a home accounting business ...
A: Brenda: Your disability is paid in your name therefore it is considered income as any other ...
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| Claiming a child as a dependent | 12/3/2007 |
Q: I have two children. My ex-husband has claimed them for the several years. When we divorced he was ...
A: Melissa: I am truly sorry about your situation. However, I can only address tax questions. For ...
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| Federal Tax Law | 12/2/2007 |
Q: I started a new job in Sept and was required to show my social security card. I had lost my social ...
A: Tom: I do not know what I can do or say. All employers are required to verify your status by ...
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| Taxes on stock in small business | 12/1/2007 |
Q: My husband and I jointly owned our small sub-chapter S corporation. A few years ago we temporarily ...
A: Cynthia: Only if the estate is valued greater than 2 Million. I believe next year it will go to 3 ...
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| Being taxed at a different rate for commsions | 11/30/2007 |
Q: How is that my commision check is being taxed at a different rate than my regular base salary. Is ...
A: Debbie: I need more information to provide a more accurate answer. I do not know which tax is ...
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| Company didn't report income | 11/24/2007 |
Q: I worked for a company as an employee located in Florida, I resided in Texas and worked out of my ...
A: Charles: The form you filled out was a W-4 form not a W-2. You will receive a W-2 from the company ...
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| international tax | 11/22/2007 |
Q: I am US resident who my parents owns family business in Africa. I would like to incorporate a sister ...
A: Edouard: If the corporation is a US corporation the only tax on it will be US taxes. If the ...
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| SS tax deduction on paycheck | 11/22/2007 |
Q: Yesterday I asked you questions about my employer deducting both my half of S.S. tax and making me ...
A: Dixie: I am sorry if I missed that question. The answer is simple it is illegal for an employer ...
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| 1099 and w2 | 11/20/2007 |
Q: I am forming a Scorp for my consulting business. I will pay myself a reasonable salary. All of my ...
A: Raymond: Is it possible for you to give them the Federal ID Number for your S Corp so that goes on ...
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| improvements on land | 11/19/2007 |
Q: I own a farm and am going out of business. I need to build a road so i can subdivide the land and ...
A: Brian: A road is an improvement. It has a life which is depreciable over a period of time. Its ...
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| what triggers re-assessment | 11/19/2007 |
Q: I doing a "Legal Zoom" living trust. I'm quit claiming my house to myself as "trustee." The ...
A: Mr. Cunningham: Who knows what triggers a re-assessment of real property. In Tennessee property ...
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| paying income taxes of a deceased | 11/17/2007 |
Q: I have an instance where an widowed individual died in 2006. His estate was virtually $0. He had an ...
A: Guy: He would be responsible for the tax on anything he withdrew while he was alive. His estate ...
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| Working in one state living in another | 11/14/2007 |
Q: My question is this: If I live in Wisconsin and working for a company from DC - where do I pay my ...
A: Srdan: Let me clarify. If you are remotely working from Wisconsin then you are in fact setting in ...
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| Working in one state living in another | 11/14/2007 |
Q: My question is this: If I live in Wisconsin and working for a company from DC - where do I pay my ...
A: Srdan: If you work in Wisconsin for a company based in Washington DC your taxes will be reported to ...
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| SIGNING BONUS REPAYMENT | 11/13/2007 |
Q: I recently took a job starting September 2007 and received a total of $25,000 in signing bonuses. ...
A: Mr. Pizzitola: That is out side my field of expertise. But I know there must be a way to recover ...
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| Tax consequence | 11/7/2007 |
Q: A while ago, over 5 years, my mother-in-law transferred portions of ownership of her house to each ...
A: Don: I do not know. The parameters as I understand them. A Parent my give a child $10,000.00 a ...
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| soc sec taxes | 11/6/2007 |
Q: My husband, by definition is NOT self employed or a subcontractor. He earns an annual salary, does ...
A: Joy: The only way is to file a schedule "C" and transfer the results over to a schedule "SE". By ...
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| Realestate | 11/6/2007 |
Q: My husband and i recently purchased an investment property in our names in Alabama. We haave now ...
A: Ms. Barber: The question you are asking requires a LEGAL answer. I am not an attorney. I can not ...
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| Tax exemption in the states? | 11/4/2007 |
Q: I'm a Canadian citizen, and I'm planning to go shopping in the states for computer parts, and I'm ...
A: Bill: At the point of sale show your id and identify that you are from Canada and wish not to be ...
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| k 1 Distribution | 10/28/2007 |
Q: I use QuickBooks for keeping my clients records and I have a client that is going to take a k 1 ...
A: Tanya: If they paid company expenses out of their pocket and after the company had enough money to ...
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| tax exempt | 10/26/2007 |
Q: When I started my job part time I filled out the paperwork and claimed tax exempt, except my ...
A: Nicole: No one is exempt from paying income tax. Your parents claim you as a dependent which ...
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| k 1 Distribution | 10/26/2007 |
Q: I use QuickBooks for keeping my clients records and I have a client that is going to take a k 1 ...
A: Tanya: I am at an loss is it a distribution or is he receiving a pay check. If its a pay check it ...
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| who can claim my child as a dependant | 10/20/2007 |
Q: My bf and his ex went to court in May 2007. He was granted 50/50 custody of his daughter. He is just ...
A: Brandie: Support in what way. If grandmother provided food shelter and other kinds of support ...
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| transferring a house from mother to daughter | 10/18/2007 |
Q: In 1993 my mother paid off the mortgage on my house($125,000) so the kids and I could stay in it ...
A: Julia: There could be gift tax problem on the other hand if the quick claim deed in 1993 was in ...
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| Am I an employee or contract laborer? | 10/17/2007 |
Q: I clean pools for a pool company, who at the start of my "employment" informed me that I would be ...
A: Dustin: The real question is "Do you have your own business?" Of coarse you do not! You work for ...
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| Its George | 10/16/2007 |
Q: I am selling my online business ...it is finally going to go through, and I was wondering about ...
A: Jahwise: I am not clear on what you are trying to do. You have a business which you are selling. ...
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| foriegn tax credit | 10/14/2007 |
Q: my wife is from Colombia, she gets about 50k a year from a business she owns in Colombia. she pays ...
A: Larry: If you live in the USA and you have income in the USA you have income tax liabilities in the ...
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| Capital Gains | 10/10/2007 |
Q: You are continually giving incorrect answers dealing with capital gains. In the most recent, you ...
A: A Friend: Thank you for your needed and timely advice. I will refresh my knowledge of the sale of ...
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| pastor's car allowance | 10/9/2007 |
Q: Does a pastor who is given a car allowance as part of his compensation, have to have a car in his ...
A: Robert: No he is not required to have a car in his name. Since, the car allowance is considered ...
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| REAL STATE CAPITAL GAIN EXCLUSION | 10/8/2007 |
Q: I BOUGHT A HOUSE ON JANUARY 28 2003 FOR 270,000 AND SOLD IT ON DECEMBER 18 2006 FOR 670,000. AS FAR ...
A: Mr. Garcia: The rule is 3 of the last 5 years. You must have lived in the house 3 of the last 5 ...
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| Irs | 10/5/2007 |
Q: I worked for a employer, in the state of Colorado,they did not send me a w-4 or 1099, for year of ...
A: Robert: If you were in business when you filed your tax return for year 2005 you would have ...
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| Nanny tax for grandmother | 10/3/2007 |
Q: I pay my mother to care for my son while I'm at work. If I read IRS Publication 926 correctly, I do ...
A: Jennifer: Incorrect interpretation the law says a "a child under the age of 18 is not your ...
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| cleaning lady & 1099? | 9/27/2007 |
Q: We own our own business, which is in the oil field. I have a cleaning lady for my home & children. ...
A: Kristy: She is a domestic employee. She should be reported as such. However, if she provides her ...
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| on the accident | 9/27/2007 |
Q: Is it legal for a company to give write ups to it's employee for having accidents on the job not ...
A: Chris: I am not understanding your question an its full meaning. However, I will make an attempt ...
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| Inheritance tax | 9/15/2007 |
Q: I reside in NJ and recently, as beneficiary, inherited from my mother's four insurance policies ...
A: Darlene: I do not believe that you will. However, I am not from NJ nor have I studies NJ law you ...
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| Divorce & LLC | 9/3/2007 |
Q: I am getting divorced and my husband and I have an LLC business. I'm giving him the business and I ...
A: Lisa: Your EX is reading from a different book than the book I am reading from. Even if you get ...
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| Divorce & LLC | 9/2/2007 |
Q: I am getting divorced and my husband and I have an LLC business. I'm giving him the business and I ...
A: Lisa: If you are divorced before the end of this year you get to file single and not married. ...
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| pay off house ? | 8/19/2007 |
Q: i owe $50,000.00, 50k, on my house. and 11 more years til it is paid off. the principal and interest ...
A: Leonard: I can not assist you on this question. First, I would not pull the money out of the 401k ...
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| Car accident Settlement question | 8/3/2007 |
Q: I was involved in a car accident as a passenger, in which other party had run the red light and hit ...
A: Jason: That is a legal question I am not an attorney therefore I can not answer that question. I ...
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| self-employeed or not? | 8/2/2007 |
Q: I have a fellowship position at a federal agency. I am given a monthly stipend which is reported on ...
A: Elizabeth: That was my first impression. Yes these are not true "working position" but a way to ...
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| Tax - a term | 7/20/2007 |
Q: I have a doubt regarding a term in English... Do you have any term to name a unit of account for ...
A: Patricia: I have not a clue of your question or subject matter. Currency values change on the ...
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| Mileage reimbursement for employees | 7/16/2007 |
Q: Is a company legally required to reimburse business mileage use of a personal vehicle? I know there ...
A: Jim H.: I do not know of a law that requires you to reimburse an employee for using their vehicle ...
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| Capital Gains on Property | 7/11/2007 |
Q: I own a condo in Seattle but moved to Wisconsin about 2.5 years ago. I currently rent out the condo ...
A: Brian: You have one lifetime exemption on the sale of a home. In order to call it a home you must ...
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| 1099 reporting | 7/9/2007 |
Q: My husband works full time as a computer draftsman for a cabinet shop for which he receives a W-2. ...
A: Jan: I am sorry, I assumed that you were aware that you could deduct the ordinary expenses used to ...
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| Unemployment Insurance - 1099 Services | 6/26/2007 |
Q: For the last year I have been a full-time employee at a company that paid me bi-weekly, but for tax ...
A: Kelly: You need to go to your local unemployment office file a claim for unemployment since your ...
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| employee/independent contractor | 6/25/2007 |
Q: I am a massage therapist working as an employee, alongside independent contractors doing the same ...
A: Reecca: The labor laws of Hawaii maybe such that they may not be able to terminate you for that ...
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| Capital Gains on house | 6/25/2007 |
Q: I have been renting a home form my stepfather for the past 3 years (less 1 week). I am pursuing a ...
A: Jeremy: If your stepfather turned the property into rental property and he sells the house he is ...
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| Sub contractor and 1099 form | 6/20/2007 |
Q: What must I do as a sub contractor when a General Contractor wishes to put me to work, concerning ...
A: Tony: I do not understand your question. If you have a business and are contracting with another ...
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| form 4361 and 501c3 | 6/11/2007 |
Q: Last year was my first year in the ministry and I filled out form 4361. The IRS contacted me and ...
A: Jason: I have never ran into that before. Usually they do not question, when you show them a copy ...
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| Head of household exemption | 5/25/2007 |
Q: When my ex husband and I divorced with 4 children in 1995, he was a great and invested Dad. we ...
A: Ms. Connelly: I would demand the right to retain the exemption status of the kids. That without ...
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| LLC payroll | 5/4/2007 |
Q: I have two questions: My husband is an OTR truckdriver, we set up our business as an LLC instead of ...
A: Cyndi: No, a draw is a term used in accounting to allow proprietor to take cash out of his business ...
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| Capital Gains | 4/21/2007 |
Q: We have two rental homes, one we bought 2 years ago and the other 10 months ago. We are now selling ...
A: Lee: Yes the time has passed and with this property. The risk are great since illegal fits in the ...
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| corporate tax laws concerning per diem | 4/20/2007 |
Q: What are the guidelines a company must adhere to when dealing with per diem breaks (annually)?
A: Dimi: The IRS publish the per diem rate for every city in the United States available at ...
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| W-2 vs 1099 | 4/12/2007 |
Q: I am preparing taxes for a pastor who received a 1099 when they should have received a W-2. As I ...
A: Sam: A minister can be considered an independent contractor. In federal law there is a provision ...
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| child dependent | 4/12/2007 |
Q: my son has a daughter she lives with mom but she stays with us half the time can he claim her as a ...
A: Teresa: The person who provides one cent over half the cost of this child is entitled to claim this ...
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| 1099-Misc | 4/10/2007 |
Q: I am a RN in IL and work full-time at a job which I received a W2 for and only a few days for a ...
A: Maren: If you receive a 1099 that indicates you are "in business" for yourself. If so you must ...
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| truck driver | 4/9/2007 |
Q: i am a local driver driving a day cab truck however my company does not get me home during the week ...
A: Heidi: If you are an employee and they give you a W-2. Then you can claim your expenses on a 2106 ...
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| Sub Contractor | 4/5/2007 |
Q: I am planning to hire some outside sales people to help promote my business by bringing wholesale ...
A: Maria: If the sales people will be selling your products and will be paid a salary plus commission ...
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| selling house | 4/4/2007 |
Q: purchased house $10000 from deceased husband mother in 1979. Plan to retire in 2 years. Sell house ...
A: Pat: I believe you meet the test and you can exempt the capital gains from income tax purposes. ...
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| annuity lump sum owner incorrect | 4/3/2007 |
Q: My Mother-in-law placed her money in an annuity and placed my husband on it with her. She asked us ...
A: Lisa: If I understand this correctly your husband inherited an annuity from his mother. Upon her ...
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| Real Estate & Capital Gains | 3/30/2007 |
Q: I sold my house that is under a trust which I am the trustee. I am also an agent. I made $279,000 ...
A: Anthony: Remember as a real estate agent any property sales is considered as ordinary income that ...
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| State Tax refunds | 3/29/2007 |
Q: I haven't had much luck getting this question answered by the other experts. One refused the ...
A: Andy: This appears to be a question from a school book since the the relationship between income ...
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| changes to section 179 | 3/29/2007 |
Q: I have a S-corp and bought a SUV last year 2006, keeping in mind the section 179 tax benefit. My ...
A: Ann: I misunderstood your question. Section 179 deduction is not available for the full price of ...
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| Company vehicle use being taxed | 3/28/2007 |
Q: I work for a company in Colorado. Our corporate offices are located in Pennsylvania and Texas. We ...
A: Ms. Turner: According to IRS rules, personal use of a company vehicle is income to the employee. ...
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| Restricted Stock Units - how to report? | 3/27/2007 |
Q: How do I report Restricted Stock Units that vested during the tax year? When the units vested, ...
A: Ian: I believe that its all considered ordinary income when it sells and is included in you regular ...
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| Depreciating rental property | 3/24/2007 |
Q: I started renting out part of my home in 2005 and forgot to claim a depreciation deduction on my ...
A: Marc: That information would be incorrect. You are not penalize if do not depreciate property. ...
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| Capital Gains and Rental Property | 3/24/2007 |
Q: My wife and I owned our primary home for 10 years and two years ago we took a equity line out of ...
A: Cj: The test is did you live in the house 3 of the last five years then it becomes an income ...
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| 1099-MISC | 3/20/2007 |
Q: Can I properly receive a 1099-MISC for non-employee compensation from an employer who pays me hourly ...
A: Louis: The many bonus you received should have been reported to you on your W-2. You are an ...
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| per diem | 3/19/2007 |
Q: I work for a company that pays per diem, I live more than 50 miles from work, I use a personal ...
A: Matthew: Do you get per diem to drive back and forth to work? If it is then its all reportable as ...
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| claiming child | 3/18/2007 |
Q: me and my daughters father have joint custody since she was about 7 years old, before that i had ...
A: Sherry: Then it turns on who has physical custody of the child one day over half the year. That is ...
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| Dealer Inventory Tax? | 3/14/2007 |
Q: I know that all cost of doing business is figured in the price of the product, it would have to be ...
A: Ms. Hotze: Its not illegal for a business owner to itemize the method of pricing his product he ...
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| Early Withdrawal of reitement fund | 3/13/2007 |
Q: Tidwell: My wife and I made a decision in 2006 to withdraw $100,000 from her company retirement ...
A: Benjamin: Sorry that you withdrew that from the retirement fund. But that is why you should not do ...
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| Dealer Inventory Tax? | 3/12/2007 |
Q: Is it legal to charge the customer "Dealer Inventory Tax"? Normally the cost of doing business is ...
A: Mr. Hotze: Any item you purchase has included in the price all the cost the dealer or store has ...
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| someone already claimed my dependant | 3/6/2007 |
Q: My sister-in-law claimed my dependant(brother-in-law), who will get the EITC credit for him? She is ...
A: Tina: Please work the work sheet that is provided with your tax return to see if you qualify to ...
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| deductions on home sale | 3/4/2007 |
Q: oK I AM CONFUSED NOW. CAN I ITEMIZE THIS AS A DECUTION AS I WOULD SAY MY TAXES OR CONTRIBUTIONS? IF ...
A: Ms. Pennabecker: It is not that simple. First are you purchasing a new home? Is this your home ...
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| 1099 | 2/26/2007 |
Q: I have a construction LLC, sole proprietor. I am adding a manager/officer to my llc. Would I give ...
A: Edward: If you are an LLC you are not a sole proprietor even thought you may be a one member LLC ...
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| delinquent taxpayer | 2/22/2007 |
Q: I have been claiming exempt on my taxed since 1999, due to some very bad advice that was offered to ...
A: Dan: You must file a tax return for every year that you have wages. Since most of the issues ...
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| Incentive Stock Options | 2/21/2007 |
Q: I was granted options over the last several years which I exercised in 2006. I exercised and sold ...
A: Chris: I can not answer that question and be comfortable with the answer because I am not looking ...
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| sale of vacant land used by resident | 2/20/2007 |
Q: I sold 1.7 acres of my land to the state because they are widening the roadway. I still live in my ...
A: Cynthia: Yes you must report the sale but you get to reduce the amount received by the cost of ...
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| please explain term "write off" in detail | 2/20/2007 |
Q: When I donate to a charity, and can "write off" the expense of example: $5,000.00 worth of clothing ...
A: Simon: "write off" is not an accounting term in use it is an otherwise general statement. ...
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| dependant | 2/18/2007 |
Q: I have filed my taxes and claimed my son. For some reason it keeps kicking out my dependant due to ...
A: Bruce: You must call and talk with the IRS for instructions on how to proceed. It appears from ...
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| 1099a | 2/16/2007 |
Q: I RECIEVED A 1099A FOR A FORCLOSURE. THE FMV ON THE STATES 250.000 AND THE PRINCIPLE IS 220.000. MY ...
A: Rose: I can not answer that question. You know what you paid for the house and the amount it ...
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| Sold home | 2/16/2007 |
Q: Can I deduct repairs made to the house in order to sell it? Thanks for you response?My mother sold ...
A: Anthony: Yes you may deduct any repairs you made in order for the house to sell. However, you may ...
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| Sold home | 2/16/2007 |
Q: My mother sold me her home for a $1 in 12/04 and I sold it in 2/06 and after researching the tax ...
A: Anthony: That is the price one pays for only paying a $1.00 for a home. Your capital gains is the ...
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| elderly mother | 2/15/2007 |
Q: could i figure 1/6 of the mortgage payment, 1/6 of the utilities and so forth as payment?my mother ...
A: Shelia: You must figure how much of the space in your house your mother uses and what that ...
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| elderly mother | 2/15/2007 |
Q: my mother is 77 years old and lives in the house with my husband and myself along with our 3 school ...
A: Shelia: If you provide her with more money than social security, medicare, food stamps, and any ...
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| tax law for non-custodial parent | 2/14/2007 |
Q: Is there a standard amount set( by state or federal) for ,cost of child living expense? If so are ...
A: Ms. Ramer: No there are no established table of cost. It is what you have paid out of your pocket ...
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| recieved 2 forms | 2/14/2007 |
Q: due to this will my taxes be viewed as selfemployed as far as the bonus is concerned. what sort of ...
A: Jon: No the bonus is not self employment. Your employer wants to skirt his responsibility of ...
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| recieved 2 forms | 2/14/2007 |
Q: my employer gave me a w2 for my salary and a 1099 for my $10,000.00 bonus. is this correct, am i ...
A: Jon: The bonus should be on a 1099. Remind the employer that the reason you got the bonus is that ...
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| tax law for non-custodial parent | 2/14/2007 |
Q: Is there a law that states you must let the non-custodial parent claim the child every (x) amount ...
A: Ms. Ramer: IRS rules require that the child must live with you half the year (180 days) and that ...
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| 1099 form | 2/13/2007 |
Q: I contracted a part time dispatching job from the company I am employed with. I subcontracted this ...
A: Billy: Add up what you have paid her. Put that amount on a 1099 and give her a copy of it. Fill ...
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| check cashing question | 2/13/2007 |
Q: My uncle got his income tax refund check and he doesn't have a checking account, so the banks won't ...
A: Valerie: No I do not know of a Bank that charges $200.00 to cash a check. Your bank will not let ...
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| who claims our child | 2/11/2007 |
Q: I have joint legal custody of our daughter, and we're divorced. I have physical placement. I also ...
A: Ms. Araya: You are the only one who can claim the child as a dependant. Since you have physical ...
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| Corp Tax | 2/10/2007 |
Q: Can you give me the list of items, that are considered book/tax differences, and what incomes are ...
A: Mr. Haq: I do not understand the subject matter of your question. Could you please provide me with ...
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| CONVENTIONAL IRA conversion to ROTH | 2/9/2007 |
Q: Funds from Conv.IRA must be reported as income when converted to ROTH. I am trying to determine how ...
A: Randy: I would not convert IRA funds to a Roth. I would put new money in a Roth but I would not ...
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| IRA BASIS | 2/9/2007 |
Q: I understand thatI have till April 15th. My question was, What is my basis for 2006 or do I have a ...
A: Franklin: If you put $800.00 in 2006 and you put $200.00 in before then for 2006 you have put in a ...
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| house sold | 2/7/2007 |
Q: We bought a house in 1996. Lived there for 5 years or so. We were in the process of selling to ...
A: Kim: You will count that sale as a sale of an asset. It will be to your advantage to calculate the ...
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| tax treaty with Russia - why still taxing me? | 2/6/2007 |
Q: I am graduate student from Russia. The treaty between Russia and USA states that Russian students ...
A: Igor: If the money went to your student account its not taxable but if it goes to you personally it ...
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| How to handle income taxes when your a babysitter | 2/5/2007 |
Q: OK..well i am completly clueless about EVERYTHING!! I am a babysitter. (new) and i have no clue ...
A: Marla: First I need for you to answer a question for me and then when you respond back I will give ...
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| claim our kids | 1/31/2007 |
Q: ok first me annnd my husband have been separated for 8yrs in which time the kids have been with me i ...
A: Miriam: You may have said to your mother she could, But the tax code says no. Without a court ...
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| hi | 1/30/2007 |
Q: a friend of mine wanted to go on disability and was told by the case managers she cant becuase her ...
A: Yer: Disability qualification is not a tax issue. However, if the child is an adult, they can ...
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| non-taxable income | 1/29/2007 |
Q: I work for an engineering company who leases me out to a large telecommunications firm. I receive an ...
A: Robin: Your employer is correctly reporting your earnings. You can keep all your receipts for ...
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| filing status and consequences | 1/27/2007 |
Q: My husband was unemployed all of 2006 and I (his spouse), worked. I paid for everything and ...
A: Ms. Whitman: You will need to file the same way but you cannot claim your husband as your ...
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| court order allowing you to claim a child on taxes | 1/27/2007 |
Q: My husband has a court order from the state of Illinois giving him permission to claim his son every ...
A: Jennifer: In my opinion she has violated the court order. It is also my opinion that you husband ...
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| Bonus check taxes | 1/23/2007 |
Q: I have been employed at a federal institution for the past ten years. Each year we receive a bonus ...
A: Deena: No I can not give you the LEGAL ramification, I am NOT an attorney. I will say that I would ...
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| Form 940 | 1/20/2007 |
Q: I have a question about Form 940. Only the corporate officer is exempt from state unemployment tax ...
A: Sharon: The correct answer is: The 1st $7,000.00 of all employees wages are taxable. The amount ...
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| do he have the right | 1/19/2007 |
Q: My ex husband wants to claim one of our son on his taxes.Our divorce pays does not say anything ...
A: Elizabethlickly: From a tax perpetration point of view if he can qualify the child as a dependent, ...
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| WORKERS COMP. | 1/17/2007 |
Q: FOR OVER A YEAR NOW. DO I NEED TO FILE . AND WOULD I RECEIVE A RETURN I AM RAISING TWO CHILDREN ...
A: Mr. Allen: Refer to this section of the IRS code "§31.3121(a)(2)-1 Payments on account of sickness ...
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| 1031 exchange on rental house | 1/16/2007 |
Q: i want to sell my rental in Seattle and buy two rentals with the money. can i do this without paying ...
A: Ellen: You maybe able to exchange one for one but not two for one. They do not have to equal value ...
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| Federal Taxes | 1/15/2007 |
Q: Do I have to report Gambling Winnings? We got a "Win/Loss" statement from the Casino that we play ...
A: Mr. Cox: If you are required to report as income the money you made gambling. Does it also not ...
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| 1099 | 1/15/2007 |
Q: Where can i claim my 1099 tax form on my return with out any items to go against it. I get a 1099 ...
A: Ms. Sanders: You may want to inform your employer that the bonus is not 1099 income but should be ...
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| thieft loss of money by fraud | 1/10/2007 |
Q: In 1998 I invested about $16,400 in a viatical with Future First Financial Group through Alanar ...
A: Theodore: You have an investment lost to claim against your investment income when you sell the ...
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| 1099 | 1/9/2007 |
Q: We pay contract employees fees per hour etc. I know those belong on the 1099; but my question is ...
A: Dee Anne: Wages belong on w-2 per diem belong on 1099. Whether an employee is a contract employee ...
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| Class action settlement | 1/6/2007 |
Q: I received a 12000.00 settlement from a classaction lawsuit against the drug company that made the ...
A: Ms. Mclain: Was the settlement for damages to you or was it classified as punitive damages. If it ...
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| taxed out of state | 1/4/2007 |
Q: My residence is in Florida, the company I work for is based in GA. I travel for work out of state to ...
A: Bill: You can deduct the income tax that you pay in the other states from your income tax return on ...
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| mortgage insurance deductions | 1/3/2007 |
Q: I have heard that loans that start in 2007 - the mortgage insurance is tax deductable. for an FHA ...
A: Shawn: The 2007 budget and tax law has not been proposed to congress. The new congress has not ...
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| Changes | 12/31/2006 |
Q: " What do we need for this years taxes? My husband went through lots of chnges this year. My husband ...
A: Mercedes: You and he will be able to file a 1040 joint return. He needs his W-2's and the 1099 ...
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| babysitting taxes | 12/29/2006 |
Q: My brother-in-law is babysitting my son (age 10 months) for $100 per week. I set aside $4600 in my ...
A: Ms. Poe: He is your domestic employee. Since he is your employee you are required to withhold ...
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| Taxes | 12/27/2006 |
Q: and I'm asking for some help with my question about taxes. This past Christmas me and my uncle were ...
A: Mr. Agnew: There are plenty of tax law on the books requiring citizens to pay their taxes. That ...
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| Schedule C, Taxable income for spouse | 12/23/2006 |
Q: How do I "make her a partner" - what forms do I need to show this?I filed a schedule C last year for ...
A: Mr. Blankenship: Either she is your partner or she is your employee. Since you and she are married ...
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| Tax question | 12/20/2006 |
Q: I don't know if this is your typical tax question but here we go. I have a friend that is very smart ...
A: KG: Your friend is a domestic employee and should be reported as such by her employer. She should ...
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| claiming child on taxes | 12/15/2006 |
Q: oh my goodness thanks so much... is it a special worksheet.. do you mean like i file single head of ...
A: Melissa: No you will file as married filing separate return. Unless you and your husband files a ...
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| claiming child on taxes | 12/15/2006 |
Q: My husband and I have been seperated for about 3 years now..the children have lived between the ...
A: Melissa: You must fill out the work sheet that is enclosed with your tax return package to make ...
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| Investment Property Deductions | 12/12/2006 |
Q: I have an investment property and was curious if I will be able to write off interest and property ...
A: Matt: Is the property income producing? Usually you can write of taxes and interest on schedule D ...
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| recording income | 12/12/2006 |
Q: I am 17 years old, I dont have a job and a friend of the family owns a construction business. If I ...
A: Daniel: You would be working as an employee they would be withholding income and social security ...
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| more details about health insurance ... | 12/12/2006 |
Q: I have done a search in the allexperts.com and found that you are an experter about how to deduct ...
A: John: You have it calculated correctly based on the information you have provided the $800.00 will ...
|
| Had a question about banks and fraud... | 12/12/2006 |
Q: I heard about a person who had a great deal of money taken out of her personal bank account by ...
A: Duane: If a person notifies the bank within in 60 days of the illegal transaction it becomes a bank ...
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| Employee taking no salary | 12/9/2006 |
Q: I work for a small start up I decided to join with hopes of makign it big. I work for them from my ...
A: Alan: You can be an employee and paid any money. It will be up to you to prove to the IRS the ...
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| Labor 1099 | 12/8/2006 |
Q: I will be specific this time. We have truck driver and helper that are now employees. We do not ...
A: Shirley: If the truck driver owns his own truck there is no problem. If you own the truck he then ...
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| Labor 1099 | 12/8/2006 |
Q: Is there a guideline on when you have to make an individual an employee, rather than continuing to ...
A: Shirley: When someone goes to work for you they are your employee. The IRS guidelines require you ...
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| employer not withholding according to my needs | 12/8/2006 |
Q: When I started working for this company in 2002,I claimed married status on my w-4, then awhile ...
A: Joy: I know that it is frustrating when someone does not carry thru with our request. From a ...
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| Distribution of profits in an LLC | 12/7/2006 |
Q: I am a new 1.5 year old Real Estate Company. There are four (4) members in the LLC. We did not ...
A: Ms. Riddick: You need to get a good accountant to handle the tax matters of an LLC. You must close ...
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| tax on rental property | 12/1/2006 |
Q: I am not sure what vacant solves. Do you know anything about Structured sales?Hello- I have owned ...
A: Susan: My understanding was no tax consequences however when you sell the property you will be ...
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| Taxed Twice on my Paycheck | 12/1/2006 |
Q: My employer lost my paycheck last month and then reissued it to me out of a different fund. I was ...
A: Kelly: As I understand your question. Your last months pay check was misplaced. The employer ...
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| 1099 vs Employee | 11/30/2006 |
Q: Good evening Sir, I own a trucking company were most driver that drive for the owners are ...
A: Mr. Satchell: Truck drivers are employees. Truck owners are employers. It is that simple. The ...
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| Schedule C, Taxable income for spouse | 11/28/2006 |
Q: I filed a schedule C last year for some extra money ($3,000) I made doing consulting part time. ...
A: Mr. Blakenship: Either your wife is your employee and u will be required to withhold income and ...
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| Unemployment Benefits | 11/24/2006 |
Q: John, Thanks for your quick response. So even if she is considered at "trailing spouse" and is ...
A: Gerald: Unemployment benefits are based on the idea a person is laid off for "lack of work". Any ...
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| Spouses resident in separate states | 11/14/2006 |
Q: Does this rule vary from state to state? How do we filethen, we have always filed jointly of course ...
A: Dee: If he has moved to New York and does not intend on moving back to Georgia then you will file ...
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| non-custodial tax right | 10/30/2006 |
Q: I hope that you can help with this. I have a son with an ex-boyfriend. For the past four years I ...
A: Tina: Since your question is a legal question, I can not answer your question because I am not an ...
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| taxable income for a church | 10/25/2006 |
Q: ..but we don't pay taxes on donations, so are you confirming that the payment for services will be ...
A: Ms. Vawter: I do not do your tax return or do I known if you file a federal information return ...
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| TAX QUESTIONS | 10/24/2006 |
Q: questions about tax return for an S corp: 1) I noticed that taxable income looks and usually very ...
A: Annie: Any company taxable income is gross income less allowable expense deductions. Sometime its ...
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| HI tax | 10/9/2006 |
Q: GE means general excise tax. I think it only applies in Hawaii. I asked my 'employees' to sign an ...
A: Mr. Espand: I disagree with that premise. An employee is an employee nothing more or nothing less. ...
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| HI tax | 10/8/2006 |
Q: If I am hiring employees in Hawaii as independent contractors, do they need to pay GE excise tax? If ...
A: Mr. Espand: I do not know what GE stands for? Could you follow up with an explanation of the term ...
|
| Estimated Taxes on a cash prize from a competition | 10/8/2006 |
Q: John, So what should we do now? It is already October....should we just wait until when we file ...
A: Kelly: Yes you should file and pay it now if you owe any tax on the winnings. But, first inorder ...
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| Estimated Taxes on a cash prize from a competition | 10/7/2006 |
Q: My husband was in a competition back in March and he won $6000. From that his job also matched the ...
A: Kelly: If the check was not received until April then the estimated tax payment was not due until ...
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| sch k-1 ira | 10/3/2006 |
Q: My client as received two K-1's from the same partnership, one listing him as an individual and the ...
A: Ms. Cutrona: Is one K-1 for his distrubition of income from the partnership. I am confused if the ...
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| child tax question | 10/3/2006 |
Q: my delima is i'm married and we are seperated i take care of my daughter more than 50% of my wife ...
A: Joseph: Now as I read your question as following you are married and you and your wife live appart. ...
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| church donations | 10/2/2006 |
Q: our pastor is wanting the members of the church to make a one time gift to him. this gift would be ...
A: Mr. Wilson: Does the church now pay tax on the pastors salary? If you do then there would be taxes ...
|
| AmendingTaxes | 9/28/2006 |
Q: During the year of 2005 I worked 3 jobs and filed my taxes at H&R Block by myself. My mother says ...
A: Lekisha: Were you enrolled in school? If you were enrolled in school did you live at home and did ...
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| Per Diem Law | 9/25/2006 |
Q: I have another question. Under a five year contract agreement I have with my company which ...
A: Mr. Fazio: I do not understand what part of the per diem question I did not answer. Per Diem rate ...
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| Is Fee Tax Deductible? | 9/13/2006 |
Q: I am W-2ed in the mortgage business and paid a commission. I pay a $1500.00 fee per month to my ...
A: Mr. Rauch: It depends on what the fee is for. I do not understand you paying a fee to your ...
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| Taxs | 9/9/2006 |
Q: Can an employer file a 1099 after I quit, and can she withold my whole check untill I fill this out. ...
A: Amy: On a 1099 there is nothing to fill out. You work as an employee therefore income tax should ...
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| Question about 1099-misc | 9/8/2006 |
Q: I am a sole proprietor running a web design business from my home office. I accept projects through ...
A: Mr Epand: When you add up your 1099 and your other sales which is your gross sales for the year put ...
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| Employee vs. Independent Contractor | 9/6/2006 |
Q: I am a nurse practitioner and have recently been contacted by another nurse practitioner who has an ...
A: Moaya: I could not have said it any better than you did. She is attempting to avoid paying ...
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| filing for unemployment | 9/6/2006 |
Q: I quit my full time job as of 8/15/06 and i am now currently an independent contractor for my dad's ...
A: Jeremy: Quiting your full time job and becoming an independent contractor disquailfies you from ...
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| Contract Labor | 9/5/2006 |
Q: I understand about the W-2 filing on a 1040 but still my question is can I pay weekly taxes or ...
A: Ms. Wofford: You make quarterly tax payments based on the estimate of your profit or loss. These ...
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| Contract Labor | 9/5/2006 |
Q: I work for someone else and they do not withhold any taxes at all so therfore I am paid by what they ...
A: Ms. Wofford: On an individual income tax return (1040) you can only report your earnings from wages ...
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| Contract Labor | 9/5/2006 |
Q: I work for a small business and I get paid for contract labor, I would like to know If I can pay in ...
A: Ms. Wofford: Do you own your own business? When you say contract labor does that mean you actually ...
|
| 401k | 8/11/2006 |
Q: My husband is working for a small construction company here in Ky. They have recently offered them ...
A: Ms. Fuston: If your husband is earning $8.00 per hour (8.00 X 40 Hrs = $320.00) and they are going ...
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| Income tax / dependents | 8/9/2006 |
Q: Hey John , I just started working full-time in the US last summer (I have been here for 5 years now ...
A: Mr. Enderoglu: Yes you can adjust how much income tax is taken from your check by the number of ...
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| Taxing Unspent Money | 8/8/2006 |
Q: If I were to have a big lump of money just sitting there, will taxes be taken out?
A: Lisa: I need more information to correctly answer your question. However, if you have money in the ...
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| employee vs. independent contractor | 8/3/2006 |
Q: I am a Physician Assistant in Louisiana. I am examining a contract to work for a 2-physician ...
A: Nicole: That situation is a no brainer. When someone wants to hire you and for you to work for ...
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| filing unemployment | 7/16/2006 |
Q: As a school teacher, does collecting unemployment every summer affect your tax return? Or is it ...
A: Ms Reels: I can not answer that question for you. How does the unemployment effect your tax ...
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| About the tax exempt on lay off package | 7/1/2006 |
Q: I was laid off on last Dec. 16 in a oversea company and entered into USA on Dec.17 2005. Now I will ...
A: Kitty: I am not sure of your question. I do not know what you mean by laid off package. However, ...
|
| urg | 6/27/2006 |
Q: please answer what u cna i will nomina8 u for v of m thanks in a visitation /custody battle how ...
A: URG: All the question you are asking are legal question. The only one who can give these answers ...
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| Contract Labor | 6/1/2006 |
Q: I am a college student. I was just hired by an interior designer to help her organize paperwork and ...
A: Rachael: You are not contact labor but your are an employee. You maybe a parttime employee ...
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| tax bookkeeping and audit | 5/15/2006 |
Q: NEWHI, I WAS WONDERING IF THAT PERSON CAN PROVIDE RECEIPT OF WHERE THE CASH WENT TO DESPITE THE FACT ...
A: Meina: Whenever someone fails to deposit any funds received in a business and the receips never get ...
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| medical/taxes | 5/14/2006 |
Q: i am married me and my wife have alot of medical problems,how much in dr bills and prescripitions do ...
A: Mr. Coleman: I do not know from the information you provided what the threshold will be. It all ...
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| Capital gains real estate | 5/9/2006 |
Q: What are the laws reguarding how much you pay when you sell land for capital gains?
A: Ms. Bracisco: It depends on if it is short term capital gains or long term capital gains. If it is ...
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| Capital Gains Question | 5/7/2006 |
Q: " My elderly Father recently came to live with me because of dementia. He has a condo in Cocoa, ...
A: Mr. Skaggs: You may have more than a capital gains problem. (1) Gift Tax (2) If you have power of ...
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| United Nations and Tax | 4/7/2006 |
Q: John, Sorry for any confusion... She does get income from her money market account, but I'm ...
A: Mr. Varghese: You get an exemption on your total income as personal exemption and household ...
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| United Nations and Tax | 4/7/2006 |
Q: My Dad worked for the UN and passed away in 1999. The UN decided to give my Mom a percentage of the ...
A: Mr. Varghese: If the pension is not large and she has no other income how is a large part of it ...
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| question concerning daycare costs | 4/5/2006 |
Q: i live in AL and my husband and I are filing our taxes seperate this year my question is can we ...
A: Val: The one who pays the child care can take it off. Its not can we split it. The who can show ...
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| i got permission from a friend... | 4/5/2006 |
Q: i got permission from a friend to use his ssn # and worked under it whats better?: to file ...
A: Yom: I can not answer this question. A horrible violation of the US tax law has taken place. When ...
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| Taxes | 4/3/2006 |
Q: I don't know what I'm in for! I haven't set up an appointment yet to get my taxes done. I have a ...
A: Teressa: You can write the cost of renting the house, the interest you pay on the note, the ...
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| employer-employee relationship | 3/26/2006 |
Q: tidwell, i have a question about the relationship i have with my boss. i work construction with my ...
A: Mr. Kotb: Its kind of difficuilt to be in business for yourself and also have a boss. That being ...
|
| SS-8 Determination letter | 3/24/2006 |
Q: I received a determination letter from the IRS finding that my husband was an employee and not an ...
A: Ms. Mascarenas: Will not know until you file your amended return. Yes your husband will be liable ...
|
| reporting requirements for contract work | 3/13/2006 |
Q: My family trust employed a contractor to do work on rental units over one year, paid him by check ...
A: Lynn: I believe a normal contractor who is reporting all his/her income for tax purposes would not ...
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| Tax | 3/9/2006 |
Q: I have the following question regarding corporate tax. I will really appreciate your help 1) If a ...
A: Haq: I am not sure of your question. The information you have provided is not in depth enought for ...
|
| Sale of Partnership | 2/16/2006 |
Q: We sold a restaurant business here in California - Book Value Sale Price ...
A: Mr. Sharma: You sold items that you had previously depreciated or was in the process of ...
|
| network marketing (MLM) | 2/12/2006 |
Q: i am wondering what all a person should know if being "independant Distibutor, or contractoe" in a ...
A: Tina: You need to go to http://www.irs.gov go to forms and download small business package. That ...
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| Property sold held in Life Estate | 2/5/2006 |
Q: my in-laws have life estates on two properties, they divorced last year and were court ordered to ...
A: Ms. Saddison: It is possible that no inheritance tax is due. It all depends on what relationship ...
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| Property sold held in Life Estate | 2/2/2006 |
Q: my in-laws have life estates on two properties, they divorced last year and were court ordered to ...
A: Ms. Saddison: Is this property that you have inherited? If it is property that you have ...
|
| FICA | 1/22/2006 |
Q: John, Thank you. I am confused though. The base for FICA in 2004 was 87,900 and 90,000 in 2005. ...
A: Mr. Rockabrand: FICA tax rate is 7.65% it is comprised of two moduals (1) Social Security is 6.20% ...
|
| about children | 1/12/2006 |
Q: In the State of Maryland, when someone is filing their taxes can they put their childrens names and ...
A: Keisha: I have never seen a Maryland Tax Return so I am not sure what you would or would not put on ...
|
| late 1099 | 1/9/2006 |
Q: Is it true that if my employer does not get my 1099 to me by January 31, then I don't have to ...
A: Mr. Pope: That is an incorrect statement. You are required to report your income. A 1099 is only ...
|
| i know someone who asked... | 1/9/2006 |
Q: i know someone who asked a friend of hers to work under her name, so she could accrue qaurters and ...
A: Yomcom: Should a tax preparer submit a tax return that he/she knows is fradualent, as in this case, ...
|
| Hello -
I work in sales.... | 1/5/2006 |
Q: I work in sales. I recently earned a product. As in they have selling contests and based on what you ...
A: Ms. Steinbach: That product has a wholesale value. Since you are an employee, the employer is ...
|
| 1099 vs W2 | 12/19/2005 |
Q: I HAVE BEEN A LOAN ORIGINATOR FOR 10 YEARS. THE COMPANY I WAS WITH HAS ALWAYS 1099 ME. IN JUNE ...
A: Ms> Lee: If you receive a 1099 that indicates you are in business for your self. As a loan ...
|
| TAX RETURN | 12/1/2005 |
Q: I AM 20 YEARS OLD AND HAVE NEVER FILED FOR TAXES. I'VE HAD A JOB SINCE I WAS 16 YEARS OLD WHAT DO I ...
A: Mr. Chai: You need to file a federal tax return for those years listing your income from your w-2, ...
|
| Tax consequece of stock sale. | 11/15/2005 |
Q: I am trying to calculate how much stock I would have to sell each year to collect $30,200 per year ...
A: Gary: It all depends on your tax situation. when you know your tax situation divide the amount you ...
|
| 1099 Question | 10/28/2005 |
Q: I have been independently contracted since 2002. The company I am contracted through has not sent ...
A: Maddy: Why do you need a 1099. You are saying that you are an independent contractor. Do you not ...
|
| Taxpayer and standing | 10/18/2005 |
Q: I was wondering what were some of the seminole cases involving a taxpayers issue of standing, ...
A: Mr. Keating: On the previous question I was uncertain as to the area of tax law you were speaking ...
|
| Big business tax credit for disabled employees | 10/9/2005 |
Q: My question is what kind of tax credit does big business recive for a disabled employee? I only ...
A: Ms. Laussen: Your question is a legal question. You should contact an attorney and the ACLU office ...
|
| Big business tax credit for disabled employees | 10/9/2005 |
Q: My question is what kind of tax credit does big business recive for a disabled employee? I only ...
A: Ms. Laussen: Could you please provide a little more detail. For Instance, did you just become ...
|
| Dear Mr Tidwell,
We have... | 9/21/2005 |
Q: We have a family in our church who have a very sick child,our church has raised a large sum of money ...
A: Mr. Sprayberry: The family will have report the gift as income. However, if they are in this dire ...
|
| Provide more than 50% of a persons income | 8/31/2005 |
Q: If I provide more than 50% of my parents income I can claim them as deductions. What happens to ...
A: Mr. Wills: Your parents will be required to file a tax return even thought they are considered to ...
|
| Dealing with independent contractors | 8/25/2005 |
Q: I dont expect that they will neccessarily have business licenses, but are just freelance writers ...
A: Bonnie: Should you require them to file W-9 you are excerising some control over the writers. An ...
|
| Capital gains tax | 8/24/2005 |
Q: We own two pieces of real estate, house at Whistler and condo in west van.Our prinicple residence is ...
A: Ms. Butt: If either property is a rental then it must be treated as income producing ...
|
| Dealing with independent contractors | 8/24/2005 |
Q: We are starting a small online services business similar to an expert site. The members who use our ...
A: Ms. Baptist: A W-9 would not be applicable here if the ones you pay are truely IN BUSINESS FOR ...
|
| To figure gross income amount | 8/13/2005 |
Q: I am disabled and receive net (non taxable income) and I am trying to find out what the formula is ...
A: John: I am sorry but I have not a clue what you are asking me either in a tax question or in an ...
|
| accountant vs. CPA | 8/11/2005 |
Q: Our family owns a very small corporation and my husband has an outside job. To get money out of the ...
A: Ms. Mazzuchelli: I do not believe that accountant advised you correctly. The payments to yourself ...
|
| Tax | 7/20/2005 |
Q: Tidwell, I had a question regarding tax lein's. I don't know if you deal with that and I apologize ...
A: Mike: Tax lien is a legal document used by taxing authorities either state or federal to protect ...
|
| Reporting Sells from Ebay for Income Taxes | 7/19/2005 |
Q: I have been selling on Ebay quite a bit this past year. I buy shoes from a supplier and then resll ...
A: Amy: Yes you must report the sales as income. To offset the sales will be the cost of doing ...
|
| unemployment and 1099 | 6/3/2005 |
Q: John, We said that this question was hypothetical and you really didn't answer it. Can you please. ...
A: Emad: The statement you make is correct. They would not catch you unless you are audited or your ...
|
| Marriage to a foreigner | 4/14/2005 |
Q: First of all thank you for you help I have looked everywhere on line for the answer and finally ...
A: Amy: Is your husband as US citizen? Has your husband every worked in the US? Does he have a visa ...
|
| m1pr | 4/12/2005 |
Q: I was homeless for several months just over 3 years ago. When I got a apt I had no clue that I ...
A: Greg: In order to qualify for property tax deduction on schedule A, you must have been assessed ...
|
| Inheriting legal fees | 4/12/2005 |
Q: My husband's aunt died while in the middle of a lawsuit. She was a partner in a restaurant with ...
A: Lene: Attorney fee's are deductible on an individual income tax return. If the attorney fees had ...
|
| Employer incorrectly not withholding fed taxes | 3/29/2005 |
Q: I changed my dependent status in the beginning on 2004 . (I declared myself as a dependant) ...
A: Michael: I would contact the employer and find out why no income tax was withheld. It is your ...
|
| income tax deductions on contract labor | 3/23/2005 |
Q: If I work part-time advertising sales on a commission basis only, (contract) can I deduct mileage ...
A: Ceissia: What ever you use to generate sales (income) can be deducted from the sales (income) it ...
|
| Taxes | 3/17/2005 |
Q: My husband is under the inpression that as long as he will be getting money back from the IRS he has ...
A: Shirley: 1. No that is not true. It is 3 years. They may take most of the refund to pay the ...
|
| tax return | 3/17/2005 |
Q: If I file a joint return with my spouse and the funds are deposited into my bank account and i made ...
A: Tina: I do not know why you may not keep it if you get it deposited in your bank account. That ...
|
| filing taxes | 3/10/2005 |
Q: my question is this. i have not filed an income tax return in several years. in my case though i ...
A: Tracy: You should get in touch with the IRS and find out what you can expect. Every one who ...
|
| Taxes | 3/9/2005 |
Q: Good day! I have a short question on taxes. Recently started a small business a few months ago. ...
A: Hemant: Although it is not a good ideal to co-mingle personal funds with business fund you can ...
|
| Tax | 3/6/2005 |
Q: When you get your tax refund from the Internal Revenue Service, are you really getting a refund? ...
A: Sakda: It is a refund of the tax payers over payment of tax liability. You are required to pay ...
|
| I'm married, but separated... | 3/1/2005 |
Q: I'm married, but separated (not legally yet), can I file separately and claim my 4 children? I have ...
A: Terry Howard: You may file a 1040 listing as seperated your filing status. However, since you have ...
|
| I am a single mother of... | 3/1/2005 |
Q: I am a single mother of two, and would like to know if I can file federal returns. My children ...
A: Maryellen: Does SS stand for Social Security. I am not sure of your question. Every american who ...
|
| Tax filing | 2/26/2005 |
Q: Respected Sir, I got my W-2 Which saw my state Mineesota (MN).but my mailing address is floral park ...
A: Sanjay: If your legal state of residence is Minnesota then you will only have to pay income tax in ...
|
| Mother Passing Away | 2/26/2005 |
Q: I'll be waiting to hear from you. My mother passed away last year. She had a trust. I am a ...
A: Arthur: First the issue of the trust and the adminstrator. That is a legal issue and not a tax ...
|
| Mother Passing Away | 2/24/2005 |
Q: My mother passed away last year. She had a trust. I am a partial beneficiary of this trust. ...
A: Arthur: This is a complicated question give me a day or two to research it. Its is my belief that ...
|
| IF I SELL RENTAL PROPERTY... | 2/22/2005 |
Q: IF I SELL RENTAL PROPERTY AND TAKE THE PROCEED FORM THE SEEL AND PAY OFF HOEMSTEAD MORTGAGE, ARE ...
A: Mr. Ward: I am not sure that I understand your question. Let me post the question as follows "What ...
|
| Taxation (or lack thereof) | 2/17/2005 |
Q: My wife worked for a portion of last year at a small business... She was paid each week by a check ...
A: Jon: You should contact your local IRS Office and file a complaint against the employer. You ...
|
| lottery and taxes | 2/17/2005 |
Q: do i have to pay taxes on a 10,000$ ticket if taxes were already tacken.
A: David: When you file your tax return and fill in all the income information and offset the tax due ...
|
| we want to file but she wants to claim us | 1/31/2005 |
Q: ok its like this... i live with my boyfriend and his mom. last year i filed for my tax returns and ...
A: Melissa: I do not understand how she can claim you or how she claimed you last year. You must be a ...
|
| Unemployment Insurance | 1/25/2005 |
Q: So let me see if I understand. I'm an S-corporation and my wife and I are the only shareholders. I ...
A: Mr. Gamble: A corporation does not exist except it has officers. Officers are therefore employees ...
|
| Contract Labor Question | 1/24/2005 |
Q: I own a dump truck business. My truck was down for a month, so I hired someone else to haul for me. ...
A: Mr. Gamble: Did you engage someone who owned a dump truck? Did you pay him on a per load basis? ...
|
| maximum amount | 1/6/2005 |
Q: What is the highest amount of money you are allowed to earn from a business before you have to ...
A: Augusto: There is not a minumium amount u must earn before it is reportable. All income is ...
|
| Business Expenses | 12/30/2004 |
Q: I am a licenses Real Estate Assistant and earn my salary in hourly pay, bonuses and commissions. ...
A: Claudia: Usually if you are a licensed real estate agent you can be if you sign a contract each be ...
|
| Capital Gains Exemption & Purchasing Property | 12/19/2004 |
Q: can we do an exchange sale? What is an exchange sale?I understand that the Capital Gains exemption ...
A: Mag: You must have live in the house 3 of the last 5 years. If you have owned the house and have ...
|
| Business Long Term Disability | 12/6/2004 |
Q: We have a small company(less than 50 employees). The company pays for the employees Long Term ...
A: Ms. Oliver: You may charge off the cost of longterm disability as an employee expense or you may ...
|
| pension fund deductions | 12/1/2004 |
Q: My wife works in New York for an Irish Company, and she pays taxes in the USA. Her employer deducts ...
A: Bert: If your wife is working in New York for a company that is domesticated in Ireland but has an ...
|
| S-Corp Passive Loss: Reporting Method | 11/30/2004 |
Q: My Computer Store (an S-Corporation) made about $16,000 at selling computers. This was reported on ...
A: Dave: Passive mean an investment with no active involvement. It is difficuilt for me to see a ...
|
| employee | 11/23/2004 |
Q: We have a childcare giver that watches our son in her house. What taxes do we need to pay/file so ...
A: Ms. Sanderson: Yes she would be considered an employee. Since its at your home it would be ...
|
| hy | 11/21/2004 |
Q: do clergy members get any tax benefits in new york state? even when they are working as a principle? ...
A: Yom: The only break a clergy get is the clergy gets to consider themselves to be independent ...
|
| Working out of State | 11/19/2004 |
Q: First, my home is in Baltimore, Maryland for all my life. I'm now employed by a New York, NY firm as ...
A: Mr. Niederhauser: Living expense is not deductible from income. Expenses associated with work ...
|
| A Doozy of a tax question | 11/19/2004 |
Q: John, I know nothing about taxes, I'm twenty one years old and the first time I ever filed was last ...
A: Ms. Woodard: The tax law was written many years ago requiring employers to withhold from employees ...
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| Capital Gains Colorado | 10/25/2004 |
Q: We purchased a piece of property from a wonderful man who financed the loan for 5 years upon which ...
A: Ronna: I am sorry but that transaction is in my opinion illegal. Therefore, I can not in good ...
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| independent contractor or employee | 10/13/2004 |
Q: My friend's father lives in a nursing home. He would like to pay me $14/hr to go visit him ...
A: Ruth: You would be an hourly employee. If you want to be an independant contractor you would set ...
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| Unemployment Tax | 10/8/2004 |
Q: Small background, my mother and I just opened a government contracting Incorporation. An example of ...
A: Cindy: At no time did I mention residentency as a requirement to determine what state you would be ...
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| Unemployment Tax | 10/7/2004 |
Q: Small background, my mother and I just opened a government contracting Incorporation. An example of ...
A: Cindy: As an officer of a corporation you are an employee of the corporation. The question is ...
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| Unemployment benefits and 1099 | 10/7/2004 |
Q: I live in California and, last month, I was let go from an IT position (W2 employee). I filed an ...
A: Myles: The question is will you be performing the work as an idependent contractor or as an ...
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| Claiming dependence | 9/22/2004 |
Q: My daughter is getting married at the age of 19. She has decided not to live with her soon to be ...
A: Alisha: Personally I would not consider a person that is married a dependant of mine. The amount ...
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| 1099m | 9/14/2004 |
Q: My ex-employer keep giving me trouble, from early of this year, he sent me 1099 tax form, the amount ...
A: JJ: You have a legal situation. You should be consulting with an attorney. As far as the 1099 is ...
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| Commission rebate from Realtor | 9/14/2004 |
Q: I recently bought a new home. My realtor had a contract with me that he will return me a certain ...
A: Manish: If he gives you a 1099 then you will need to report it as income. But, I am confused why ...
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| Tax | 9/1/2004 |
Q: We just purchased a rental property and the people we bought it off renovated the kitchen and ...
A: Lisa: No you may not depreciate the install items seperate from the rest of the property. If it ...
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| unemployment taxes | 7/20/2004 |
Q: i have a question about unemployment taxes. my fiancee worked for his mother and stepdad from 1996 ...
A: Melissa: I will be more than happy to send you the common law factors. However the information ...
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| disabled | 7/13/2004 |
Q: Is there a tax benefit for a compnay to hire the disabled? I am blind but would like to work again ...
A: oe: There are some tax credits available for employers thru your local job service office which is ...
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| Unemployment-Business Dissolved | 6/29/2004 |
Q: Assume one of my employees goes out to collect unemployment benefits. I understand that the money he ...
A: RAMEZ: State unemployment is calculated like an insurance policy. After you have been in business ...
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| 1099 | 5/16/2004 |
Q: My question is who can receive a 1099? Is there a certain amount or limit a person can make. Does ...
A: Connie Phelps: If the person is working for you how can you give them a 1099? Why not give them a ...
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| Giving tax deductibles for donations of cash and computer equipment to people... | 5/3/2004 |
Q: I am starting a charitable movement, part of it will be fixing up broken computers and giving them ...
A: Brian: The individuals who donate to a not for profit company may deduct the fair market value of ...
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| Is this income reortable/taxable ? | 4/8/2004 |
Q: ------------------------- Answers to four variables related to son's income source - court ...
A: Michael: Remember this answer is based on the information that you have provided. It is my opinion ...
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| Is this income reortable/taxable ? | 4/6/2004 |
Q: In 2003, my son received a cash settlement from his former employer to settle a civil rights(of ...
A: Michael: In order for me to correctly answer this question I need some additional information. ...
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| Contract labor | 4/2/2004 |
Q: I have heard that if an employer has $1,400 or less per year in contract labor expense, he does not ...
A: Sam: An employer must withhold income tax an social security tax on the first dollar an employee ...
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| Form 1040 | 4/1/2004 |
Q: Without getting into the hundreds of reasons floating around as to why and how personal income tax ...
A: John: The income tax we now know had got it's start as an admendment to the US constitution in ...
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| tax forms | 3/31/2004 |
Q: my question was regaurding my 1040 individual tax returns. Is there a way i can print them out from ...
A: Rachael: If you are asking about a copy of your filled in Tax Return that you filed with the IRS. ...
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| State unemployment tax for S Corp. | 3/29/2004 |
Q: If the owners of an S corp take a monthly distribution, are those distributions SUI taxable? DWFS ...
A: Heather: Officers of corporations are the first employees of a corporation. Therefore, ...
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| Income tax. | 3/15/2004 |
Q: Do you know what are the countries that involves high tax rates? Is USA one of them? If I am ...
A: John: I believe that the tax struchure in the USA is less than any country in the world. For ...
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| Income tax. | 3/13/2004 |
Q: I am a Singapore Citizen (29 yrs old) living in Singapore. Currently, employed as a Network Engineer ...
A: John: Please do not worry about the US tax situation until you actually arrive here. But, in the ...
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| non-employee income | 3/11/2004 |
Q: I was hired by a medical diagnostics company to perform various office tasks and to sell contracts. ...
A: E J: I would go to the IRS office in your city and and seek to get the 5,000.00 put onto a ...
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| W2 for bankrupt company | 2/27/2004 |
Q: The company I worked for last year went out of business. I never received my W2 and cannot get a ...
A: Tim Wakefield: If they filed bankrupcy thne go to the brankrupcy court where they filed and ...
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| Tax & subcontractors | 2/22/2004 |
Q: I worked on a regular part time basis for a company last year. They usually paid me cash every week ...
A: Lisa: The term "subcontracted" usually means your employer considered you to be an independant ...
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| federal income tax | 2/22/2004 |
Q: I worked at a Sports bar for about 2 months.. but quit because of questionable business practices ...
A: Tonya: What was your total wages paid by the sports bar. If your total wages are less than ...
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| corporate owners and applicable taxes | 2/18/2004 |
Q: We just started a C corp. (a graphic dsign firm) and we were wondering how to go about paying ...
A: Kenneth: In a number of states and including federal law, officers of corporations are statutory ...
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| Taxes deducted from paychecks | 2/17/2004 |
Q: Yes. They took out more taxes, but I didn't get more money yet. The raises won't be given until the ...
A: Valeria: How do you know the increase in deductions is based on the new raise? Did you ask your ...
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| Taxes deducted from paychecks | 2/16/2004 |
Q: Is it legal for an employer to deduct federal and state taxes for income not yet received? Raises ...
A: Valeria: I am not sure that I understand your question. Did they take more money out of your check ...
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| Payback of unemployment | 2/12/2004 |
Q: I live in Ohio. In 2002 I drew unemployment for a short time. I had to pay back $591.00 of that ...
A: Roxanna: At the moment I do not have an answer but one should not be required to pay tax on money ...
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| Definition of Basis | 2/9/2004 |
Q: John Joe purchases $X worth of a certain stock, and pays $A to the broker for commission and fees. ...
A: DBRJ: I will list below my understanding: Purchase Price of stock: A Sales ...
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