Ask a CPA

You may fill out IRS Form W-4V, voluntary withholding request. Speak to your local CPA about getting a copy of this form.

Exchange of goods or services without money being exchanged is called Bartering. The fair market value of the exchanged goods or services must be included as income on both parties tax returns.
The income should be reported on your business expense Schedule C form or as miscellaneous income on Form 1040 line 21.

Qualified scholarships and fellowships are treated as non-taxable amounts if the following 3 criteria are met: Amounts you receive as a scholarship or fellowship are used for tuition and fees required for enrollment or attendance at the institution or for supplies, books and equipment required for courses of instruction.
The amount you receive is not payment for your services, since you are a candidate for a degree at a educational institution.

Contributions to your 401(k) plan are not the same as an IRA deduction.
The amount you contributed to the 401(k) plan reduces the taxable wages reported in box 1 of your W-2 form.

Cash or property you received as an inheritance, gift or bequest is not included in your income tax return.
Any interest, dividend or rental you earned on the inheritance after receipt of the inheritance is taxable.

If your stock option is granted under a employee stock option plan, the granting or exercise of the option is not included as income on your tax return.
You will report either the income or loss on IRS Schedule D when you sell the stock that you purchased by exercising the option.
Speak to your local CPA about the tax strategies with your options.

A lump-sum payment for cancellation of your employment under the Age Discrimination and Employment Act is taxable income in the year you receive it. It is reportable on IRS Form 1040 as wages.

For decedents and gifts made in the current year, a unified credit is allowed which is the equivalent of a $5,120,000 dollar exemption is subtracted from the tax calculated on the taxable estate.
For 2012 the $5 Million exemption may be increased for inflation.
New for 2011 and 2012 is a concept named portability which allows a surviving spouse's estate to use any portion of the exemption amount not used by the other spouse’s estate.

No. There are 2 limitations that come in play. The deductible amount taken as an entertainment expense for tickets is the face value of the tickets. The excess amount paid to a ticket agent or scalper is not deductible. Secondly, all meals and entertainment expenses are limited to 50% of the cost. The deduction will be claimed on the business Schedule C Form or Form 2106. You should maintain a diary of all business expenses listing the person, the event, the date and the business agenda that was discussed.

No. There is a 50% cost limitation on meals and entertainment that include skyboxes. Also, if the rental is for more than 1 game, you are only allowed to deduct the face value cost of the non-luxury box seats for the number of seats in the box as the deductible amount. The deduction would be claimed on IRS Schedule C or Form 2106.