Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsTaxs filed on SSI
Asked onWednesday, March 08, 2023 by VictorI'm getting SSI .can I file tax on this at the end of the year?
Roth IRA and Filing Status
Asked onWednesday, March 08, 2023 by MatthewIf a couple is contributing regularly to Roth IRA and then gets married towards the end of the year and wants to file Married Filing Separately, what happens to the money contributed during that year (assuming each spouse earns more than $10,000.00/year.)?
Back door Roth
Asked onWednesday, March 08, 2023 by TimHi, due to too much income, I will not be able to contribute to my Roth IRA. But I already made 1K contribution in it for 2023. I want to stop it and prep for a Back door Roth IRA. So what can I do to my current 1K in a Roth? Do I just just leave it in there and at year end do a Traditional IRA recharacterization, or is there a way I can withdraw it or convert it mid year and achieve the same result? I already have a Traditional IRA because I had to do a recharacterization for 2022, and parked all my contributions to Roth minus the Net Income. Can I contribute into that IRA, or do I need to start a new Traditional IRA for the back door strategy? Thanks.
Do it ourselves???
Asked onWednesday, March 08, 2023 by KristiThe last few years my husband and I have used Free Tax USA to file taxes at home. If we paid a CPA to do it, would we be likely to get more back? Is it worth paying someone? We ended up with standard deduction last year and using software this year saying standard as well. Last year we got about 2k refund and this year saying we owe about 2k. Does this sound accurate with tax changes? My husband and I both work, we have 2 kids age 9, own home (paid off). Thank you!
Is it illegal to not file your taxes when a refund is due?
Asked onWednesday, March 08, 2023 by WilliamIn 2019 I failed to file taxes on time and didn’t do it until recently. No notices or penalties were sent and I was due a small refund. Did I break a law ?
What category to file
Asked onTuesday, March 07, 2023 by HeatherGot married last year, I pay 90% of bills, Should I file head of household with dependent child, age 20 full time student I support or would it be best to file married jointly. I made a little over 69,000 and my husband made about 40,000 together we are about 100k. Which one would be better for better results?
How to file Form F1120A electronically online
Asked onTuesday, March 07, 2023 by AleksandrHow to file Form F1120A electronically online. This is our first time filing. We bought several programs to prepare returns, but they weren't good enough. For example with Turbotax we only managed to submit federal form 1120 electronically... And the Florida form cannot be submitted electronically online through turbotax.... Please advise who can help us submit Florida Form F1120A. Also looking for a CPA partner to work with who needs a nice website. We could make an accountant a beautiful website with a luxury design for free, in exchange for their help in submitting returns and counseling. Please email us if you are ready to discuss details. We will be glad to cooperate.
Should I add income to deduct more expenses because I'm under 400$ income for 2022 taxes?
Asked onTuesday, March 07, 2023 by SamanthaI am a sole proprietor who started business in 2022 and I'm entering expenses from 2022 inside QuickBooks for deductions for 2022 tax time. I am eligible for health care premium to be fully deducted (I am pretty sure, based on the questions I answered too) but it wont deduct because QuickBooks says I've hit my limit for deductions based on my income (less than 400$ for 2022). Because my expenses were higher, I'm at a net loss of over 1k. I am not done entering other expenses but I would like to know, should I enter more income to deduct more? I don't want to deduct all these things and then only half of them get deducted. Would it be better to saves some deductions for next year if that's possible, such as computer parts, but I don't want to write them off as 5 year asset.
City income tax
Asked onTuesday, March 07, 2023 by RonI am still working full time and took a diversification payment from our ESOP. I know I have to pay federal and Ohio state tax but do I have to pay city tax for this 1099R? Thank You