Tax Filing Tips
The most frequently asked tax questions related to Tax Filing Tips
Tax deductions
Asked Tuesday, March 17, 2026 by ToddI'm looking for possible tax write offs for a 76 year old retiree who receives social security, pension, life insurance and oil lease income.
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S-Corp Owner, No Payroll, Need 1120-S Help
Asked Tuesday, March 03, 2026 by ZacharyI 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.
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Partnership return form 1065
Asked Friday, February 13, 2026 by WAYNEIn 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?
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CPA Services Request for 2025 Tax Preparation
Asked Wednesday, February 11, 2026 by AmyHello, 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.
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Additional senior deduction for 2025
Asked Friday, January 30, 2026 by WILLIAMAccording to the IRS website all I need to do is check the box that I am over 65 and include my SSN. The IRS adds the $6000 additional deduction when they receive my return. Before the $6000 senior deduction I owe $641. With the deduction I owe $41. When I submit my return which amount should I pay?
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Implications for Responsible party using SSN for filing with IRS for EIN/TIN
Asked Monday, September 08, 2025 by CharlieWe’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?
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Sales Tax in Florida
Asked Monday, September 08, 2025 by DeidreI am an independent author and want to sell my books at a local convention. How do I collect and then submit the sales tax?
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Tax Implications of Family Funding for EB-5 Visa
Asked Wednesday, September 03, 2025 by AbhishekHi 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
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Taxes on gambling winnings
Asked Friday, February 02, 2024 by MichaelI am getting some confusing information on gambling winnings that I hope you can clarify. I have approximately $28,000 in W2G events in a casino app. But, in the app my year end win/loss shows a win of only approximately $3,000. Do I report the whole $28,000 in income? And if so, can I also deduct the $25,000 loss if I itemize?
CPA Answer:
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