Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsVehicle use
Asked onMonday, October 02, 2023 by KevinI work for a utility company. I used to drive a company provided vehicle, but it is no longer available to me. I am considering buying a vehicle for company use, I’d say it would be 90% used for work. I can claim mileage and be reimbursed thru the company. Are there any other advantages/options to lessen my out of pocket cost?
Covid unemployment
Asked onMonday, October 02, 2023 by ThomasI was unemployed for most of the pandemic and received unemployment can I get a return for this?
What state should I file my if I lives in two different states?
Asked onFriday, September 29, 2023 by HeribertoMy residence is Texas as my driving’s ID says. Because my primary home is in Texas but I have and home and business that I own in Georgia. My spouse has Georgia ID and she don’t work and she don’t live at my primary residence as I do. We always file jointly because I was to busy to goes to the tax Pc office and do the tax my self. But I work in Georgia and I lived there also but my primary residence is Texas. How would I file my taxes? As jointly as single? Where do I file in Texas or Georgia? Do I needs to file jointly if my residence is Texas ? Can I just put my spouse as dependent because she don’t work I taking care of her ? What should i do by file?
2nd income taxes
Asked onFriday, September 29, 2023 by MatthewHello, I started working a second job with Uber Eats and Door Dash in May of this year. I know that I have to pay taxes on my earnings since these companies do not do it for you. I am a little confused as to how to exactly do it. Does my primary job income affect it? Do I get any deductions for mileage or gas? I think I may need some assistance.
1099-DIV
Asked onFriday, September 29, 2023 by BarbaraMy husband died 3 1/2 years ago. I got a 1099-DIV for 2022 with my husband name and SSN on it stating he received a distribution of $1,789. I never received any money. We have not had a joint account for a little over 3 years. I never did have a retirement account. Do I need to claim the distribution on my Federal return? If so, what line on the 1040-SR?
Crypto currency platform went bankrupt and can not provide transaction history
Asked onFriday, September 29, 2023 by MarthaHow do I get transaction history if the crypto platform went bankrupt and is not responding to phone calls or emails?
Family Loan & No Gift Tax
Asked onThursday, September 28, 2023 by DannyI am getting a zero percent loan from my mom for $75000. Paying back $625 month for 10 years. How do we write promissory note so it doesn't trigger gift tax.
Starting a new business in another State
Asked onThursday, September 28, 2023 by MaryWe own a fence company in Massachusetts its an S-corp. We are residents of Massachusetts but go to Florida for the winters. We want to do subcontracting work for other fence companies when we are in Florida. We will need to buy a truck, trailer and tools down there. Which of the following should we do: 1) Register our existing company as an out of state business in Florida and put our pay as subcontractors through our existing company? If we do this do we just set up an income category as subcontracting income? 2) Just do 1099's in our personal names and just be sole proprietors and file a Schedule C. 3) Register a new S-Corp in Florida? Or do you gave another suggestion? Any tax or other implications we should be aware of for any of the above options? Thanks so much. Mary Hughes
Inheritance tax
Asked onThursday, September 28, 2023 by PatriciaInheritance is in a savings account earning 4.25% since 1/1/2023. Lawyer said we cannot get our inheritance because the interest needs to be reported to IRS. Please help.
S Corp dissolved 13 years ago - need advice
Asked onThursday, September 28, 2023 by CathyWe dissolved our S Corp 13 years ago in Florida. All debts, etc were handled and it was dissolved properly by our accountant at the time. We had a few outstanding judgments owed to the S corp at the time but honestly thought they would never be collected. Well lo and behold someone who owed us (the S corp) money has come out of the woodwork and wants to satisfy the judgment. We were the only 2 shareholders in our S corp. I am not sure how to handle the receipt of the money for tax purposes (assuming the person actually follows through and sends the money). I have asked for the check to be made payable to the business name and my husbands name (so that it can be deposited and so that I can do a proper Satisfaction of Judgment). Do I just claim it as personal income? Do I do nothing with it? We ran our books as cash basis (if I remember correctly). I usually handle our taxes now because they are not that complicated, but not sure how to proceed with this. Thanks!