Tax Filing Tips

Can spouses living apart file taxes jointly?

Asked Saturday, June 27, 2026 by Elaine

Do spouses have to live at same residence to file joint tax return?

Quick Answer:

No, spouses do not have to live at the same residence to file a joint tax return. Under IRS rules, your filing status is determined by your marital status as of December 31. If you are legally marrie...

Tax Filing Tips

Tax deductions

Asked Tuesday, March 17, 2026 by Todd

I'm looking for possible tax write offs for a 76 year old retiree who receives social security, pension, life insurance and oil lease income.

Quick Answer:

For a retiree with your income sources, several deductions could reduce taxable income. Common itemized deductions often include: * **Medical Expenses:** If your out-of-pocket medical,

Tax Filing Tips

S-Corp Owner, No Payroll, Need 1120-S Help

Asked Tuesday, March 03, 2026 by Zachary

I own a single-member S-corp. In 2024, I had one client, earned ~$37k via 1099, and did not run payroll — I transferred funds directly to my personal account. I know this raises an IRS "reasonable salary" issue. I need help assessing my exposure, whether corrective action is needed, and filing my 1120-S.

Quick Answer:

Your concern regarding a reasonable salary for your single-member S-corp with $37,000 in 1099 income and no payroll is valid. The IRS expects S-corp owner-employees to take a reasonable salary for ser...

Tax Filing Tips

Partnership return form 1065

Asked Friday, February 13, 2026 by WAYNE

In a family limited partnership in Texas, if one of the general partners died in January 2026, will the year 2025 partnership return form 1065 and k-1's be filed as usual, the death in 2026 not having any impact on the return for 2025?

Quick Answer:

The death of a general partner in January 2026 would not impact the partnership's tax filings for the 2025 tax year. The 2025 Form 1065 and associated K-1s cover the partnership's activities and owne...

Tax Filing Tips

CPA Services Request for 2025 Tax Preparation

Asked Wednesday, February 11, 2026 by Amy

Hello, I am reaching out to determine your availability to provide professional tax preparation services for the 2025 tax year. I am seeking a CPA with proven expertise in ensuring accurate, timely tax filings and maintaining compliance with federal and state regulations. I would appreciate receiving information regarding your services, fees, and onboarding requirements. Thank you for your time and consideration. I look forward to the opportunity to collaborate. Sincerely, Amy Wood.

Quick Answer:

Dear Amy Wood, Thank you for reaching out regarding tax preparation services for the 2025 tax year. I am currently accepting new clients and would be pleased to discuss your needs. My services focus...

Tax Filing Tips

Married couple filing taxes separately when one spouse is in Chapter 13 bankruptcy.

Asked Wednesday, January 28, 2026 by Steven

I am currently going through a Chapter 13 bankruptcy. My spouse is not. Should I file our taxes separately instead of jointly since I must report to the trustee any tax refund. I want my spouse's refund to be protected even if mine can be garnished. I am in North Carolina. Thanks.

Quick Answer:

Given your Chapter 13 bankruptcy and your goal to protect your spouse's refund, filing separately could be a strategic consideration. When you file separately, each spouse reports their own income, d...

Tax Filing Tips

Implications for Responsible party using SSN for filing with IRS for EIN/TIN

Asked Monday, September 08, 2025 by Charlie

We’ve set up a VA corp wholly owned by our UK parent. One US citizen officer (VP of Growth) could be listed as IRS responsible party to get EIN instantly, or we can file with a foreign director (slower). What are the implications for her if she’s the responsible party now and later removed via 8822-B? Any ongoing exposure/liability? Or if indeed she remains as responsible party and isn't removed? What are the implications if she leaves the business?

Quick Answer:

If the US citizen VP is listed as the responsible party and later removed using Form 8822-B, her liability for tax matters generally ceases upon the IRS's acceptance of the form. However, her liabili...

Tax Filing Tips

Sales Tax in Florida

Asked Monday, September 08, 2025 by Deidre

I am an independent author and want to sell my books at a local convention. How do I collect and then submit the sales tax?

Quick Answer:

As a CPA, I advise you to check your state's Department of Revenue website for specific sales tax requirements. Generally, you'll need to obtain a sales tax permit if your sales exceed a certain thre...

Tax Filing Tips

Tax Implications of Family Funding for EB-5 Visa

Asked Wednesday, September 03, 2025 by Abhishek

Hi All: I am trying to understand the tax implications around borrowing vs receiving as a gift, half a million dollars from my family (brother). I am exploring options to apply for an EB-5 visa and need $800,000 to do so. I am partially funding it through my savings, and the rest will be covered with help from my family. I want to understand what the most tax-efficient way of doing so is (both for my brother, who will be gifting the money, and me, who will be receiving it). Thank you, Best, Abh

Quick Answer:

The most tax-efficient method depends on several factors not provided, and I cannot give specific financial or legal advice. However, I can offer some general tax considerations. For your brother (t...