User Submitted Tax Questions
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1)Box 4 Social Security withheld 2)Box 6 Medicaid Tax, 3) Box 14 other death/D 426.40 Where ( if at all)are these boxes to be recorded on the 1040 and D400?
Asked onThursday, February 23, 2023 by KayeCPAs - Sign in to Answer
Paperwork details
I have a question about a business that I had that had some paperwork filed for it but then it had to be shut down and so all of the paperwork wasn't filed. Do I still need complete the filing if paperwork like the AoO or an OA haven't been filed yet?
Asked onThursday, February 23, 2023 by isaacCPAs - Sign in to Answer
General Question
Hello I'm currently 19 living in Florida (self employed) and I was wondering on average how much ill pay in taxes before deductions if I've made $103,000 in 2022
Asked onThursday, February 23, 2023 by DawsonCPAs - Sign in to Answer
IRA Question
Hi, I am hoping someone can help me. I inherited an IRA from my Mom many years ago. I put the money into 2 CGM mutual funds. Late last year, I received notice from CGM that they were going out of business and that I needed to liquidate my funds. I met with Fidelity with the purpose of transferring the funds to them into a new IRA account. Fidelity sent the paperwork to CGM and requested that they send them the money. Instead, CGM sent me a check which I immediately sent to Fidelity. I just got a 1099 from CGM which showed that they actually withheld federal tax which of course I did not want them to do. When I called them, they claimed that Fidelity did not send them all of the needed paperwork so they did not process this as a transfer and because the funds are closed, they cannot correct the problem. So what the heck do I do? It's past the 60 days. I am using TurboTax Deluxe to do my taxes? Is there a fix so that the total amount of the check sent to me + the withheld tax count as an IRA transfer? Please help and I am confused as hell. I thank you for your help.
Asked onThursday, February 23, 2023 by DarioCPAs - Sign in to Answer
Tax Payment
Can an LLC reimburse partners for taxes paid on business income?
Asked onThursday, February 23, 2023 by BrittanyCPAs - Sign in to Answer
Travel Nurse w/ company now going to staff at a Hospital
Hi I have my own travel nurse company and in the past have been getting paid a 1099 from hospitals I did travel nurse contracts with. I recently just go hired for a full time position at hospital and they are unwilling to offer me a 1099 (even though I have a business travel agency license and all liability insurances). What can I do to pay myself as a company for tax benefits vs claiming a W2? My company technically outsourced myself to a permanent position. Thank you!
Asked onWednesday, February 22, 2023 by AaronCPAs - Sign in to Answer
Husband/Wife Business
My husband owns a LLC cleaning business that I work for. He 1099’s me and some clients have issued me 1099’s in my name under my SS number and some in the LLC name under the TIN. Which forms should we use to file a joint return? We live in Missouri.
Asked onWednesday, February 22, 2023 by MoniqueCPAs - Sign in to Answer
We are on ssi and would we file taxes on ssi?
We don't work. Do we still file taxes.
Asked onWednesday, February 22, 2023 by ChristineCPAs - Sign in to Answer
Selling home before two years of ownership
Hi, My question is what taxes and fees will I owe if I sell my home in the state of TN before living there for two years? Assuming capital gains tax will not be owed. Thank you so much.
Asked onWednesday, February 22, 2023 by JamieCPAs - Sign in to Answer
What do i do if my empmoyer didnt withold taxes from my checks
When I applied for the job I currently haveI filled out a w4 along with my employment application, So as I have with every other job I have ever had I started looking for my w2 around mid January. Well when it became the 3rd week of February and I still did not have it, I asked my employer about it, and that is when she informed me that they do not take taxes out on any of their employees. Is tht legal for her to do without telling me? Had I been told I could have prepared by taking money out of each check myself. I am a single parent barely making ends meet as it is, I can't afford to owe money to the government, not to mention that my credit died a month ago and I was counting on a tax return for a down payment on transportation. I have no idea where to go from here. How do I even file my taxes without a w2 or 1099? Plus I am paid with a hand written check from a business account so I have never gotten a check stub either.
Asked onWednesday, February 22, 2023 by AprilCPAs - Sign in to Answer