Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsCapital gains
Asked onSaturday, November 25, 2023 by StephanieI 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
Senior taxes-air bnb income
Asked onFriday, November 24, 2023 by JenI 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?
I have a question about tax elections for pension payout
Asked onFriday, November 24, 2023 by JulianneI'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.
I was taxed at 35% even though I don't make that much money.
Asked onFriday, November 24, 2023 by mannyHi, 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.
Inheritance tax
Asked onThursday, November 23, 2023 by TammyInherited money from sale of property in NC and live in NY state what is the tax % I need to pay, it was a cash sale
Can I withdraw funds from my Roth IRA
Asked onThursday, November 23, 2023 by LindsayI put my 401k from previous job into a Roth IRA 6 months ago with Fidelity. I’ve run into financial hardship due to a split with my partner and need extra funds. I am 34 years old. What are my options
Used equipment/asset depreciation
Asked onWednesday, November 22, 2023 by MeganI bought a business that included dental lab equipment. The majority of the equipment is 8/9 years old. When factoring that in as my assets how do I come up with a value and incorporate depreciate since it was purchased depreciated.
Deduction for gifts to adult child with a disability
Asked onWednesday, November 22, 2023 by SteveMy adult child receives Federal Disability Income. If I gift him $5,000, can I claim it as a deduction?
Income tax on payment
Asked onWednesday, November 22, 2023 by HarshHello, We are planning to buy fence for home backyard for 10 home together from direct manufacture. So total costing is around 25k. And manufacturer want payment from one account. What happen if all 10 people send their contribution to single individual account and do payment through that one account. That individual account holder face any taxation issue?
IRS l9st payment
Asked onWednesday, November 22, 2023 by SaraWe hire an accountant to do taxes. IRS has cashed and then lost our payment to them and are demanding payment. Who pays our accountant for his time to straighten this out