Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsInherited annuity
Asked onSunday, May 14, 2023 by TIMMRAWill I have to pay taxes on inherited annuities? Is there a way around it
Home Office to Main W2 job office, can I write this off?
Asked onSunday, May 14, 2023 by DAKOTACan I deduct my drive to my W2 job from my home office if I can classify an area of my home as an office? Then it becomes trips between offices, which is deductible. I do this for my side business, with my office in the home going to my warehouse. What is preventing me from being able to do this with my drive to my W2 job from my home office?
FHA loan, my name on wife and I's business
Asked onSaturday, May 13, 2023 by glenHello, my wife and I are photographers. The name of the business is in her name. She bought a house 5 years ago FHA and now I am trying to buy a house FHA. The bank accounts the income goes in is in both our names. The tax returns name me as primary borrower. What is the best way for my name to be put on the business for loan purposes?
Never received
Asked onFriday, May 12, 2023 by AudreyI have not yet received my taxes nor my stimulus checks none of them
Twitch talent agency
Asked onFriday, May 12, 2023 by TrixieOn twitch, my talents are working as independent contractors under my sole proprietorship. If they swap their payout and tax onboarding information to being under my individual name and EIN, is that sufficient (they are working under my company, which does not have a larger LLC), or should be paying me separately for the services to avoid any issues and misunderstandings
Roth Ira
Asked onFriday, May 12, 2023 by NaomeeI opened a Roth account March 2019 with $85;000. I know there is a five year rule. I am 85 years old. Should I be taking distributions? Also, can I take withdrawals before the five year date? Thank you
Illinois employer did not withhold state taxes (mandated withholding state)
Asked onFriday, May 12, 2023 by LoraMy Illinois employer has not withheld any state taxes from my pay. Now I owe $850 to the state. Are they responsible since they are required to withhold? Thank you
HOW MUCH MONEY CAN I WITHDREW FROM THE BANK WITHOUT THE BANK REPORT IRS
Asked onThursday, May 11, 2023 by GWENDOLYNHOW MUCH MONEY CAN I WITHDREW FROM THE BANK WITHOUT THE BANK REPORT IRS AND HOW MANY TIMES I CAN WITHDREW WITH A MONTH OR HOW OFTEN SHOULD WITHDREW WITHOUT BANK REPORT TO IRS I ONLY HAVE A CHECKING AND CHECKING
Canada US Tax Treaties for Scholarships
Asked onThursday, May 11, 2023 by SusanTo whom it may concern, My name is Susan Ling, a Canadian citizen currently present in the US as a nonresident alien on a J1 Visa. I have currently received a $20,000USD scholarship from an external grant (i.e. not directly associated with employment) and am trying to identify and claim and appropriate tax treaty to reduce tax withholding. I would appreciate any assistance on identifying an appropriate article and paragraph, thank you in advance.
Non resident owned company tax
Asked onThursday, May 11, 2023 by EmreDear Sir/Madam, I hope this email finds you well. I am writing to inquire about the tax obligations of my company, MONA LLC, as a foreign investor in the USA, specifically in the state of Wyoming. I have already applied for a tax identification number (TIN), and I am expecting to receive it soon. However, I would appreciate further clarification regarding my tax responsibilities. My primary concern relates to conducting business in other countries from MONA LLC. I have consulted with several advisors who informed me that I may not be required to pay taxes in the USA for such international business activities. However, I wanted to confirm this information with your esteemed organization to ensure its accuracy. Additionally, I would like to inquire about the specific documents or filings that MONA LLC needs to share with the Wyoming government on an annual basis, beyond what is already mentioned on your official website. I believe it is crucial to stay compliant and fulfill all necessary requirements, and your guidance in this matter would be greatly appreciated. Thank you in advance for your assistance. I look forward to receiving your response and any relevant information that will help me better understand MONA LLC's tax obligations in Wyoming. Sincerely,