Unanswered Tax Questions
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1099 or W2 Employees
Currently in the beginning stages of a start up small business cleaning service. We are currently weighing the options of 1099 or W2 employees. If we went the route of W2 employees, are we bound to provide health insurance to each of the employees with a W2? Also, are we free to be selective on who can receive a 1099 or a W2?
Asked Saturday, March 11, 2023 by Malik A.Sign in to Answer
How do I upload my 1040c to e-file and where I
I filled out my 1040c form online but I want file it e-file upload it to where and how
Asked Friday, March 10, 2023 by Robert J.Sign in to Answer
Filing of Form 8582
I've been accumulating Passive Activity Losses for the last decade. For the first time this year, I rec'd a gain instead of a loss. I thought, no problem, I have the accumulated losses in my tax records. When I went back to look at previously filed returns, I cannot find any Form 8582 declaring the accumulated losses/carryover each year. Am I in trouble, or will the IRS computer system simply be able to check the loss I've put into the tax software (and thus the filing) each year?
Asked Friday, March 10, 2023 by Lester W.Sign in to Answer
State tax
I filed my taxes. Federal went through state didn't. How do I file again without federal thinking I'm doing it twice. In Oklahoma you can't just file state.
Asked Friday, March 10, 2023 by Philomena M.Sign in to Answer
What can be included in QBI
I have been including CRP payments in QBI, is that still ok? Also I have 2 nephews who received a 1099 for farm labor instead of a W-2, can I count their income as QBI?
Asked Friday, March 10, 2023 by Alice H.Sign in to Answer
tax question
my mother put my name as part owner of a house a couple of years ago when she had her will drawn up. she sold the house in 2022 but i never received any of the money from the sale. do i declare that I "sold a property" on my 2023 income tax form
Asked Friday, March 10, 2023 by Rich F.Sign in to Answer
Restoring a Vintage Vehicle
I want to write off my repairs/improvements for my Bronco. Do I have to change ownership from my name to my llc's name? I will only be doing this once as my business is not restoring vehicles.
Asked Friday, March 10, 2023 by Adrian S.Sign in to Answer
Effect of IRA distribution on annual contribution limit
I contributed $3900 to Roth IRA in 2022, then I made the withdrawal of the entire amount, also in 2022. I want to contribute to Traditional IRA instead. Does my $3900 Roth contribution still counts toward annual contribution limit for 2022?
Asked Friday, March 10, 2023 by Olga A.Sign in to Answer
Extra business money
I had recently received compensation for a totaled car and decided to put some 4000$ into my llc account, do I have to pay taxes for this even though it's not generally thought of as work related income?
Asked Friday, March 10, 2023 by Matthew P.Sign in to Answer
Crypto
I have a business where I purchase items from people and sell them on Amazon. Amazon gives a 1099k form at the end of the year. When I buy items, I pay people via ACH transfer or a third party platform like CashAp. Many people are interested in crypto payments. Would I be able to pay people with crypto and put the transactions on my taxes as a write off? I know I can use receipts for ACH and CashApp to put on it to lower the profits, for example I pay someone $100 for an item and sell the item for $200, and put the receipt on my taxes so I only made $100 instead of $200, could I do it with crypto? Thanks.
Asked Friday, March 10, 2023 by Eyal P.Sign in to Answer