Unanswered Tax Questions
CPAs - answer tax questions, and introduce your practice to potential tax clients.
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Irs criminal investigation letter
I received irs criminal investigation letter, calling me as a witness, and to bring 5 years of taxes. What do I do and what is this?
Asked Monday, November 27, 2023 by Jon C.Sign in to Answer
Analyze Choices
I a Director of a daycare that receives funding to feed children. The owner would like to see a breakdown showing the most profitable way to use these funds. What program will best capture data and show him clearly how to apply our funding.,
Asked Monday, November 27, 2023 by CAROL B.Sign in to Answer
Relocation
My husband’s job is moving is relocating in March 2024 60 miles further away from our residence. I understand that the moving expense deduction has been suspended until 2025. If we move, can we deduct the expenses for the 2025 filing?
Asked Sunday, November 26, 2023 by Shannon T.Sign in to Answer
Section 179 deduction
If I buy a car for my wife to solely DoorDash with, can I claim the section 179 deduction
Asked Sunday, November 26, 2023 by Donavon M.Sign in to Answer
Submit taxes
My health insurance is trough my husband job, can I submit my taxes separate
Asked Sunday, November 26, 2023 by Emilia V.Sign in to Answer
Construction labor costs for a rental unit
I built out an AirBnb rental unit in part of my wall out basement and did much of the labor myself. Can I include my labor costs when calculating the overall cost of the unit for tax depreciation purposes? If so, what labor rate do I use?
Asked Saturday, November 25, 2023 by Jerry K.Sign in to Answer
Capital gains
I currently own a property with my brother, we inherited it from our parents. He is going to buy me out. He would like to pay me a portion of as a lump sum then pay me in monthly instalments over a few years. I am wondering how this will affect my taxes through capital gains
Asked Saturday, November 25, 2023 by Stephanie M.Sign in to Answer
Senior taxes-air bnb income
I am a senior and my only income is my SSI, except this last year I managed a few air bnbs that gave me more income BUT the owners of air bnb deposit to me pay pal which I put into my personal bank acct money to be used for housing expenses and not my income. Will I be taxed on these deposits ?? How does IRS know between a personal commission or just money to manage that is not income? What should I do?
Asked Friday, November 24, 2023 by Jen M.Sign in to Answer
I have a question about tax elections for pension payout
I'm trying to get a pension payout from my old employer, and they told me today that my state tax elections were defaulted at single zero. My husband and I always file our taxes jointly, so I'm wondering what that would mean for our taxes this coming year. They told me that I'm able to change my elections and they can start new paperwork, but I have to do it before Monday, so I'm trying to figure out the best way to do this. Thanks very much for your help.
Asked Friday, November 24, 2023 by Julianne T.Sign in to Answer
I was taxed at 35% even though I don't make that much money.
Hi, I was let go from my employer and was given a lump sum severance package of $16k. I am curious onto why I was taxed at 35%, leaving me with a net of only $10k ? For the year I wouldn't of even made close to 100k in gross Salary. I would of fallen under the 22 - 25% tax bracket. Thank you for your assistance.
Asked Friday, November 24, 2023 by manny s.Sign in to Answer