Unanswered Tax Questions
CPAs - answer tax questions, and introduce your practice to potential tax clients.
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Bitcoin/Crypto
Hi I was just hoping to get some information regarding buying Bitcoin/crypto. Is there a certain amount that we can buy without having to report it on our taxes? Or does any amount we buy in crypto have to be reported? I want to check before investing any money in it.
Asked Monday, June 19, 2023 by Ruby A.Sign in to Answer
Will insurance Paypal payment be taxed?
I was involved in a car accident in 2023, and the insurance payout for my car was sent to me through Paypal. I understand any payments higher than $600 will be reported to the IRS, but have also read insurance payouts aren't taxed. I withdrew the money to get my replacement car and the parts needed to repair it, but now I'm unsure how it will affect my taxes next year. I do not run a business through Paypal, it is only for personal purchases.
Asked Monday, June 19, 2023 by Nikki S.Sign in to Answer
Federal taxes
Why don't my employer take federal taxes out of my checks?
Asked Monday, June 19, 2023 by Alicia S.Sign in to Answer
Can a wife as her tax transcipts independently from her previously receive joint file
I need assistance with a tax-related question. In a scenario involving a husband and wife, they have jointly filed their 2022 tax return. The wife has been requested by a federal office to provide her tax transcript. However, the husband is uncooperative and unwilling to submit a joint transcript. I would like to know if the wife has the option to independently request a copy of her own federal tax transcript from the IRS, which she can then submit to the federal office while maintaining confidentiality.
Asked Monday, June 19, 2023 by Abdolrahim N.Sign in to Answer
Gig tax advice
I am an online gig worker. Need to report to social security.
Asked Monday, June 19, 2023 by Darrin A.Sign in to Answer
How to write off time spent at rentals
I keep track each time I go to work at the Rentals iPhone. What is the best way to do that? Can I only write off mileage? Or the time spent working? Do I pay myself for work done?
Asked Sunday, June 18, 2023 by Beth Ann G.Sign in to Answer
Audited, claiming kids
I've claimed all 3 of my children since they were born, the eldest being 6. I complied with the requests for extra documentation and waited. They're now saying I can't claim them or the earned income credit and owe 1,000 + with interest, even though they're just now saying I owe something. I have been waiting since I filed in February and do not understand how they can claim that these children are suddenly not mine.
Asked Saturday, June 17, 2023 by Gage T.Sign in to Answer
can a owner of a job take taxes out of paycheck even if they don't have my social security number?
i started working and realized that the owner of the company were i work is taking taxes out of my paycheck, but they don't have my social security number, so is it legal? and what can I do about it?
Asked Saturday, June 17, 2023 by irma G.Sign in to Answer
Donation
A person wanted to donate $4000.00 from their IRA to my church. At the same time, they wanted the church to give them $2000.00 so they could save on taxes. Is this legal, or is this a form of money laundering?
Asked Friday, June 16, 2023 by John A.Sign in to Answer