Unanswered Tax Questions
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Paying taxes in the US for a job in Germany
Hi, I am a German citizen who is working as a full-time Professor in the US on a F1 student visa (OPT). Do I have to pay taxes in the US for my other job in Germany, which I do not have to pay taxes for in Germany?
Asked Monday, August 14, 2023 by Sabine W.Sign in to Answer
Where to show rental property used the entire year for personal use.
In 2021 I had a rent house that was rented out the entire year. In 2022 I used the house for personal use so I dod not list it on my tax return. Is there some place on my taxes to show this? On turbo tax when I said I used the house for personal use it was deleted from my taxes.
Asked Monday, August 14, 2023 by William W.Sign in to Answer
Newly married and need advice
Hello. I am newly married. My spouse has received SSDI benefits since 2012 and has never had to pay taxes on them. I work earning about $26,000 a year. Since we are both new to this, how does filing taxes for myself differ? What is the best way to go to avoid their SSDI income ($18,500) being taxed or for me to get the highest refund possible? Do we file as married filing jointly or separately? I find this all so confusing and overwhelming. I appreciate any helpful advice.
Asked Monday, August 14, 2023 by Jensen S.Sign in to Answer
Can your accountant be making you pay to much
I have house and deductions for property taxes, interest, two.kids under 18 etc. Stll I wind up owing about 5000 a year. My brother in law is my accountant and I feel he always is too fearful based on what my wife and I make. I mean I made much less last year as a consultant but he said there was less withholding. This just doesn't make sense as we are married with zero dependents.
Asked Sunday, August 13, 2023 by Arthur S.Sign in to Answer
Ssi
Will I get a refund fileing on ssi 920 a month
Asked Sunday, August 13, 2023 by Rickey W.Sign in to Answer
1031 Exchange
Hello Gurus We have an LLC with four partners and under that LLC we have a four investment lands we are planning to sell one land with a good gain. Out of four partners one partners want to cash it out and other partners want to do the 1031 exchange, is it even possible? If it dissolve the LLC and make that land as a personal investor can each of the partners get their own share and then decide what to do with that gain correct? And I would like to understand how 1031 exchange work, let's see we bought a landing 100,000 and now we are selling it for $500,000 long term gain and then do the 1031 exchange for whole 500,000, with similar kind land or investment opportunity, and let's say that $500,000 grows in 10 years to 1 million do we pay taxes on just $500,000 gain or $900,000 after 10 years? Thank you very much in advance I appreciate your time and consideration Shetty
Asked Sunday, August 13, 2023 by Jay S.Sign in to Answer
joint account
i have a joint account with my parent. when they pass can i take a portion of account and remove my name and put balance to their estate? or will i have to assume all amount on my taxes
Asked Sunday, August 13, 2023 by linda b.Sign in to Answer
Capital Gains
I am a 1099 contractor but recently inherited a large sum of stock. I sold $30k of it to pay off my car. I’m worried that I’ll owe a lot of extra taxes this year for doing that. Could I sell more stocks to pay for the extra taxes? Would I have to pay tax on stocks sold to pay taxes owed?
Asked Saturday, August 12, 2023 by Neal J.Sign in to Answer
Sales taxes
If I go to a hardware store and buy lumber, sandpaper, paint or stain ect. and then make something with said materials and sale it why must I charge sales tax in the price I would think that would be double dipping as I already paid sales tax on the items
Asked Friday, August 11, 2023 by Les O.Sign in to Answer
Inheritance money
I received money as a beneficiary and I would like to use some of it to payoff my house and vehicle. I plan on rolling the rest into an IRA. What are the tax issues I could expect and shoud I keep money available in a savings or high yield account to cover the taxes?
Asked Friday, August 11, 2023 by Manny A.Sign in to Answer