Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax Questionscan i hire resource on my company w2 ?
Asked onThursday, January 11, 2024 by SunitaI have registered Domestic LLC in Delaware being a non-resident and want to hire resource on w2 contract. If yes, Please guide me the process for same.
Being a non resident of USA, what are taxes I need to pay?
Asked onThursday, January 11, 2024 by SunitaI have paid the USD 300 for the Franchise LLC and do I need to file for federal tax and income tax as well. Also can you confirm if I need to do annual filing?
Investment to Primary
Asked onThursday, January 11, 2024 by JohnHello, I currently own my primary residence in Texas but we are planning to move to California in June. We are planning to buy the home in California before we move there by using an investment mortgage and then sell our home in Texas before moving there in June. Once we move to the California property we will probably want to refinance it as a primary residence. What are the tax implications that I may run into when I file taxes in 2025?
home sale and taxes
Asked onThursday, January 11, 2024 by Vanmy father just passed away on Texas in October, we are selling his house that we inherited through heirship affidavit. Its a cash sell and it is under $100,000 cash. Will we have to pay federal taxes on the cash amount we receive.
Vehicle deduction question
Asked onWednesday, January 10, 2024 by AdamI currently lease my car, and write-off business use with the actual cost method. In two months the lease ends and I will be purchasing the vehicle. Does doing so constitute acquiring a new vehicle, allowing me to switch to the standard mileage method?
Non-fringe taxable earnings vs. gross earnings
Asked onWednesday, January 10, 2024 by LizannShould I include non-fringe benefits such as discounts and taxable LTD premiums paid by the employer in gross wage calculations when reporting earnings for unemployment benefits or state-run paid family leave programs?
Capital Gains Tax
Asked onTuesday, January 09, 2024 by MarshaI am selling a piece of real estate property. The proceeds will be spilt evenly to my 3 children. How do I avoid/reduce my taxes after the sell. It will be a 450,000 profit. The property is in California but I am now a resident oof Texas. Do I still have to pay the state of Clifornia tax. Is there a way I can gift the proceeds to my children without being taxed. Please advise.
Graphic Design Sales Tax
Asked onMonday, January 08, 2024 by AustinI would like to know if I need to charge clients sales tax as a graphic designer in NY. To give an example: A printer will contract me to do the design work for a billboard. I work on it and when done, will send the print files electronically to the printer. They will then print and install on their end. I will invoice them for the design work and electronic print files only. Sometimes I will invoice the client directly. The client never receives the print files themselves, only the printer. I do not print the items myself nor do I sell printed items on my end.
parents medical expenses
Asked onMonday, January 08, 2024 by terryMy mother works part time. She works a few days a week. She has numerous health issues and isn't able to afford most of her bills. Due to the extent of her medical conditions, her income isn't enough to pay for most of her bills. I have been supporting her financially with her bills, and they are, including but not limited to, living expenses, medical bills, prescriptions, therapy, transportation etc. I have paid a lot of her bills last year, totaling just under $28,000. Can I claim these amounts on my tax return? Thank you
Operating Budget for Public Hospital Question
Asked onSaturday, January 06, 2024 by SteveOur public hospitals CFO (nonprofit) have presented the 2024 Operating Budget and the is one line it for revenue that my question pertains to. The hospital purchased a building for a new clinic. The city in which this building is located applied and received a Community Block Grant to renovate for 1.7M. The CFO is using the 1.7M as extra operating revenue to balance the budget. We will have to use reserve funds to pay this. Is this an acceptable practice for budgeting requirements or even legal? Makes no sense to me.