Unanswered Tax Questions
CPAs - answer tax questions, and introduce your practice to potential tax clients.
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W2
I have a full time job as a nurse but i am going to get a prn job as a nurse. I need to know what to put on my prn job w2. I claim 0 with my full time job. I am married with 2 children. We file married and jointly.
Asked Wednesday, October 18, 2023 by Jaimy F.Sign in to Answer
Utilising taxes losses effectively
Hi, I am looking for assistance with utilising a significant (to me anyway) amour of losses from previous years taxes and am very much struggling to find ways of managing this without having to write down to zero (ie using my losses on tax free income). I have over $60k in losses and unfortunately didn’t earn as much as I wanted last year to get as high an income as possible for these losses. I would greatly appreciate knowing my options. I am also very keen on finding an accountant/planner that can assist with an effective tax and overall wealth strategy moving forward in better income years so would really appreciate advice and contacts
Asked Wednesday, October 18, 2023 by Dwayne F.Sign in to Answer
Tax implication of Gifts to help with a Mortgage
What are the short and long term tax implications of giving my son a gift of $250,000 USD to help pay for a down payment on a house? What taxes will I have to pay on this gift and future gifts? How will this affect my other taxable income? How will it affect my son's taxes?
Asked Wednesday, October 18, 2023 by Columbus N.Sign in to Answer
Have an IMF CODE AND A SARS CODE NOW I NEED A TAX CODE
Was gifted money from a UK offshore account need a tax code to complete the transfer
Asked Wednesday, October 18, 2023 by Rhonda A.Sign in to Answer
Inherited property that was sold do I pay taxes on that?
Asked Tuesday, October 17, 2023 by Melanie C.Sign in to Answer
Order of adoption and energy efficiency credits
My taxes this year will be covered with carry-forward on the adoption tax credit. (This is the first of the 5 years of carry-forward.) I am looking at home energy efficiency upgrades that come with tax credits due to the inflation reduction act. Will the energy efficiency credits be applied before the adoption tax credit, this allowing me to continue carrying forward that credit? Or will the adoption credit be applied first, meaning the energy efficiency credits would be useless?
Asked Tuesday, October 17, 2023 by Nathan A.Sign in to Answer
Will adding my wife's name to the home deed via a Gift of Deed cause any tax implications?
Asked Tuesday, October 17, 2023 by Larry E.Sign in to Answer
401(k) loan default question
My spouse took out a 401(k) loan from their employer in 2022 to help us afford a new primary residence. They are switching jobs at the end of the month and we won't be able to repay the unpaid balance by the tax filing deadline in April 2024, and therefore it will go into default. I understand that this will be treated as taxable income, but which tax year will it happen in? Will it be considered income for 2022 when we originated the loan, and we have to file an amended tax return? Will it be considered income for 2023 since that's when they switched jobs? Or in 2024 because we have until tax day in April 2024 to repay the unpaid balance?
Asked Tuesday, October 17, 2023 by Esme H.Sign in to Answer
Boyfriend die paying on back taxes now irs is taking the money from me
Asked Tuesday, October 17, 2023 by Carol U.Sign in to Answer
Transcript
Can u help me with transcript? Im trying to find out y i havent received my return yet or when or if i will
Asked Tuesday, October 17, 2023 by Destini B.Sign in to Answer