Unanswered Tax Questions

Payments and Penalties

Roth IRA Withdrawal Fees/Penalties

Im 45 years old and have been unemployed for some months. Because of that I cant take a loan out from 401k account. So I rolled those funds into a rollover IRA and Roth IRA account. Ive had funds in Roth IRA account for over 5 years. I just wanted to verify that there wouldnt be any fees/penalties for withdrawing funds or transferring funds from Roth IRA account to my bank.

Self Directed IRA

Tax deductions needed

Self Directed IRA

Roth IRA withdrawal

I’m 45 years old. I’ve been unemployed for some months and so I couldn’t take loan from 401k account. I rolled over 401k funds to rollover IRA and Roth IRA accounts. Have had Roth funds for longer than 5 years. Just wanted to verify that if I take withdrawal from Roth IRA account that ther wouldn’t be any taxes or penalties

Nonresident Tax Issues

Sell of property

I have a primary resident in NC and a vacation home in SC. Planning on sell my SC home to buy another home to make my primary resident in SC and NC becomes my secondary home. Do I have to pay taxes on the sell of my SC home? If I ever sell my NC home, would I now have to pay taxes on it? Thank you

Tax Forms

Schedule C SMLLC

SMLLC parent llc and subsidiary llc's owned by the parent llc 1040 Should I add the income and expenses of all the LLCs on the same Schedule C? Considering that as I understand it I am only the owner of the LLC patent, not the subsidiaries

Nonresident Tax Issues

Double tax avoidance in California state

Hello CPA, I need a tax advice regarding the double avoidance agreements for California state with other countries. If i pay tax in Sweden on some income in that country, can i claim the tax under California state tax laws after i declare my global income ?

Nonresident Tax Issues

Eligibilty for Federal Tax Credit for EVs

Hi, I want some tax advice regarding eligibilty of Federal Tax credit. As a non resident, can I claim federal tax credit for EV (electric Vehicle) if my income falls with in the requirements. It helps me with decision whether I can purchase EV this year.

Tax Forms

W4 & W-4P

February 2024 I'll have a job and a pension. Why do I have to account for taxes on my W-4 but I also account for that job taxes on my W-4P?

Tax Forms

Questions regarding Schedule C tax deductions categories for group travel business

Hello, I am the owner in a single-member LLC that is a small group travel business. I plan and execute small group tours in various international destinations across Europe, Africa and Asia, and offer a close to "all-inclusive" price package experience that includes all meals, lodging, activities, and transportation. I plan the trip and I am the guide on the trip. On Schedule C form where I have to categorize my expenses, I'm wondering how to categorize the expenses that I have for these trips (as the meals are part of the "trip package" that I see, I assume they should be 100% deductible expenses rather than 50%. Would I just lump all of the travel expenses for these trips into the "Travel" category rather than separating into "Meals" ? Please advise and thank you so much for your help!!

Investment and Finance

Is there a penalty for.not cashing in your savings bonds after maturity from the I R S

Is there a penalty for not cashing your savings bonds after maturity from the I R S