Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsRelocation
Asked onSunday, November 26, 2023 by ShannonMy 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?
Section 179 deduction
Asked onSunday, November 26, 2023 by DonavonIf I buy a car for my wife to solely DoorDash with, can I claim the section 179 deduction
Submit taxes
Asked onSunday, November 26, 2023 by EmiliaMy health insurance is trough my husband job, can I submit my taxes separate
Construction labor costs for a rental unit
Asked onSaturday, November 25, 2023 by JerryI 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?
Capital 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