Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
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Asked onFriday, August 04, 2023 by AmberIf my spouse and I both Bork but he makes more than me, together we made over $100,000 should we be a married filing jointly and should I have multiple jobs or spouse works marked as yes?
Is it more beneficial to be married or domestic partnership?
Asked onFriday, August 04, 2023 by DianaI'm 34 female, partner 36 male. We live in El Paso tx. We're thinking of getting married or domestic partnership, I make around 87,500 a year and partner 31,200.
Tax penalty
Asked onFriday, August 04, 2023 by TwanaI got my taxes done by someone but the left off my 1099. So now I need to amend my taxes. I’m using free tax USA to do it but I don’t know where to enter the $26.00 estimated tax penalty that on the original return. So my amount owed do match I’m off my that $26.00
Business expense
Asked onFriday, August 04, 2023 by RyanI have an LLC, and wish to obtain a certificate to further my education in the field of my business. Would that be considered a business expense?
Wondering about claiming someone I have quardianship of
Asked onFriday, August 04, 2023 by RobertaI have quardianship of a 17 yr old she’s on my link and I’m on disability I’m separated but my husband sees her also and helps with all her things she needs can he claim her on his taxes and her mom thinks she can claim her but we have notarized papers I have quardianship and take care of her
County tax taken out of paychecks
Asked onThursday, August 03, 2023 by AmberHi I’m getting cook county tax taken out of all my paychecks and I’m wondering why?
Separated
Asked onThursday, August 03, 2023 by RobertaMe and my husband are separated I have quardianship of a girl who is 17 I’m on disability he doesn’t live with us but pays for her clothes schooling etc can he claim her on his taxes I have her on my link but he pays everything else.But her mom says she’s claiming her can she do that since she’s living with me
Sale of Inherited Property and Section 121 exemption
Asked onThursday, August 03, 2023 by StevenThere is an estate proceeding open for an intestate decedent, ready for distribution of assets to beneficiaries. One of these assets is a house owned solely by the decedent. Online sources, including state websites, have said that, in New York state, real property automatically vests in the heirs of an intestate estate. An administrator's deed documenting the transfer of ownership has not yet been filed with the county. It has been more than 5 years since this person has died. I understand that property sold within an estate does not qualify for the Section 121 exemption on capital gains tax. Would the heirs, having lived in the house from before his death up until the present day, qualify for Section 121 if the house is sold after being distributed to them from the estate? Is their having title, though not having it documented on a deed, sufficient to meet the "ownership" requirement, or does the IRS only consider ownership as starting once the house is formally distributed from the estate to the beneficiaries? Thank you.
1099
Asked onThursday, August 03, 2023 by LHi My parent has dementia and I have been caring for her. Can I pay myself from her money if I have a 1099 and pay taxes on it? And if yes how do I go about getting a 1099? Do I need to be a actual business or is that considered just an independent contractor
HSA Transfers
Asked onThursday, August 03, 2023 by EricI own two HSA accounts, one my current employer set up for me and a second I opened myself for a previous employer. I generally invest the distributions that are made into the accounts rather than withdraw them for medical use. The HSA my current employer set up has more fees and less options than the one I opened myself for the previous employer. My question is, can I transfer the distributions made to my new account directly to the one I set up previously without incurring a penalty or creating a taxable event? Thank you.