Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsCar Rental
Asked onTuesday, October 24, 2023 by JasonHi, the question I have is if I rent a car as a doordash driver, and I use it strickly for dashing, can I write off 100% of what I payed for the rental? And does this mean the tax write off will essentially pay for the car?
Forms
Asked onTuesday, October 24, 2023 by ANDREAHi, I just started a small business and registered with Santa Clara county for a business tax certificate as well as with the CDTFA for a sellers permit. My small business is a sole prop, part of the year side business and I don't expect to make more than $1000 by the end of the year. Will I need to save up for self employment tax and file quarterly? What about the months I do not make any money? Is it just schedule c and/or do I need another form to itemize expenses? I'm reading a lot of conflicting info online and the small business development center non profit cannot offer tax advice. Any help would be greatly appreciated. Thank you.
Solar tax credits
Asked onTuesday, October 24, 2023 by TrentonI am considering installing solar panels for my home. The contractor said I will get a Federal Residential renewable energy tax credit (30%) and an "Illinois shines" credit of $24,800. Do either of these credits have income limits to receive the full credit?
Washington State. Construction side work.
Asked onMonday, October 23, 2023 by AshleyWashington State here. My husband is a licensed plumber and fixed a couple toilets at my work, for $500. We don't have our own plumbing company. My work asked him to complete a 1099. Since we don't have a plumbing business EIN, obviously his only option is to enter his personal SSN. Which is fine, we don't mind paying taxes on that income at all. My confusion arises because, as I understand, this type of professional service should be charged a 6.5% sales tax in Washington. If we charged it, we have no way of paying that tax to the state because we have no business. Do we just not charge the sales tax? I can't ant imagine the state will be happy with that. Also, we don't have a state income tax, so we never have to file a state return, only federal. Would this transaction require us to file a state return? Seems like enough hassle to just not charge them, but that's not ideal either. TIA for any advice!
Escrow account excess funds rights to property
Asked onMonday, October 23, 2023 by SandraMy husband and I were given a home and property in 2017. He passed away in 2020 it was never put in our name. I have been living here since 2017. My mother n law passed away 2018.my father n law passed away this year I have been paying the property tax since 2017. I lost the property to a property sale in june 2023. There is a excess funds account held in escrow for the property. What rights do I have for paying the tax buyer and keeping the property. What rights or order do I have for the excess funds held at the tax office ? If u know someone who can help me go about taking care of this please call or email me. And if I cannot access funds or property do I have the right to the taxes I have paid in since 2017
HDHP No Longer An Option.......
Asked onMonday, October 23, 2023 by RCOur current health insurance provider is no longer going to be a option for an HDHP. They have failed to reach an agreement with the primary medical group in and around our town. At best, it might be 6 months before an agreement is reached, if at all. We would need to drive 60+ miles to see a provider in-network. Our current insurance provider is the only one out of our current open enrollment options that offers an HDHP. Is there another alternative (HRA, HMO, etc.) that would meet the deductible qualifications for us to continue to put money into our HSA? Thank You for your time.
Owe back taxes
Asked onMonday, October 23, 2023 by CynthiaWe sold a house in 2021 with a profit of $285,000. Apparently, we didn't file the right forms because we received a letter from the IRS stating that we owe $350,000 in back taxes including $32,000 in interest. Can this be fixed by filing an amendment, or do we need a tax attorney?
Dividends From ROTH IRA
Asked onMonday, October 23, 2023 by ChrisIf I invest in an ETF that pays a monthly dividend, such as JEPQ, is the monthly dividend considered non-taxable in a ROTH IRA? If I remove the dividend from the ROTH IRA, can I use it as cash without any tax consequences since it originated from the ROTH IRA?
Supposed missed filing deadline - IRS won't refund
Asked onMonday, October 23, 2023 by ArtHi, I’m hoping you can provide me some guidance on my 2017 tax return filing issues. I had sufficient withholdings taken throughout the 2017 tax year to cover my tax burden and also added an $8,000 payment with my extension on April 12, 2018 (the $8,000 wound up being an over-estimate and was not required). For personal reasons, I had filed my 2017 income taxes on 5/13/2021. However, the IRS claims they received my tax filing on January 26, 2022. Since this date was after the October 15, 2021 filing deadline for 2017 returns, the IRS will not provide me my refund. The IRS also stated that my tax return was complete and processed without issue. Unfortunately, I cannot provide the IRS with valid proof of mailing. In a conversation with the IRS, an agent told me that the IRS scans every mailed tax return. I am requesting a copy of the scan but have not received anything. I have called and written the IRS numerous times and have not received a successful resolution. Would you have any suggestion on a path forward? Thank you.
Will I have to file a tax return
Asked onMonday, October 23, 2023 by MarilynSocial Security is 26400.00 plus pension 3600.00 plus cd interest 5000.00 yearly my age is 74. Do I have to file taxes?