Read Past Q&As
Divorce & Taxes: In the course of a divorce spouses were ordered to file joint-married by submitting data to a CPA for certain tax years. (The divorce since was awarded.) One spouse has a schedule-C business and sent what amounts to a rats nest of papers to CPA. Per accountant spouse's data would not survive IRS audit because income is not backed up by...
Submitted May 1, 2016
Overwhelming Debt Crisis. I have over 53K in unsecured debt ( credit cards and personal loans), back taxes of 6k, and operating expenses per month of over 6 k. I feel like I can't get out of debt and see only 2 options: Increase multiple streams of income or debt settlement/bankruptcy. What can I do?
Submitted May 2, 2016
Hello Jason - I have a client whose father died and left and her 3 siblings N/Q annuities to be shared equally. The carrier siad something about deferring the payout 5 years for some reason. Could she roll over to a new N/Q annuity with tax free exchange or is there another strategy you would suggest, Jason? Thank you! Frank Varvaris
Submitted May 5, 2016
In 2015, I bought an investment property, a single family home to rent out. What can I deduct (as an Expense for CY 2015) from the settlement statement? (I saw a similar question regarding a primary residence, but don't know if the IRS rules are the same.) Thanks much, David
Submitted May 6, 2016
Can a non qualified annuity be gifted over a three year period so that the donor can take advantage of the annual gift exclusion?
Submitted Apr 13, 2016
Hello! I am self employed. I am in the market of getting my own health insurance plan (just turned 26). In doing my research, I read that I could deduct my premiums on my taxes. I also have come across the exception saying, "You cannot deduct your health coverage premiums if you were eligible for a group plan through your or your spouse’s employer."...
Submitted Apr 26, 2016
how much a month is disability and accidental insurance for a small semi truck business with only 1 employee/owner
Submitted May 4, 2016
I got divorced in Dec of 2015. I gave notice to my job within 30 days for life change events. They stopped the medical insurance premiums for him; but not a life insurance premium for him. It was one of those things that I was going to get to; but didn't. He was also my beneficiary in all my benefits; and I hadn't changed that. Unfortunately, he recently passed...
Submitted May 6, 2016
I am planning to work as a teacher in the UAE from August 2016 to June 2017. How will this affect my tax income returns or filing for it.
Submitted Apr 18, 2016