Unanswered Tax Questions

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

Personal Taxes

will the IRS update the record of account once they receive the return or do we have to wait 4 months for the amendment to be processed?

will the IRS update the record of account once they receive the return or do we have to wait 4 months for the amendment to be processed?