The alimony rules changed for 2019. Generally, alimony is not deductible by the payor not includible in income for the recipient for the 2019 tax year. The prior rule required the recipient to include alimony in income.
the majority of the mortgage each month. She doesn't have to file taxes (retired). How does this work? Can my name be added to the financing documents to show co ownership even though it's her credit that is being approved for the loan?
Raised the taxable value to $220,000 on 1/1/18, just 7 weeks after I purchased it. Now, one year later, they are increasing it again to $237,000. That's a 50% increase in taxable value in two years, from 1/1/17 to 1/1/19. I had the home appraised in January, 2019, and was told the market value was... Read more »
Tax audit - 2 years item being reviewed (high deductible medical and pharmacy). don't have all the receipts. i do have the bills (30K plus) to substantiate and can account for atleast some ( approx half or so) of the deductible in year 1..and maybe 1/3 in year 2 of the returns being audited.... Read more »
I previously worked for Bloomin’ brands and had a five-year contract in which I had to put $25,000 in and then received 10% of the bottom line every month. At the end of my contract, I was bought out of my 10 percent share, which ended up being about $72,000. This occurred back in 2012 and now my... Read more »
Tax code that pertains to retailers given senior citizens 85 years and older a 1% sales exclusion from purchasing tangible personal sales for his own personal use. Code 12 - 36 - 2646 pertains to retailers responsibilities. A store like Walmart in West Columbia 2401 Augusta Rd 29169 Phone... Read more »
Nice work. Sounds like you may be getting Walmart's attention soon.
Regarding you lamentation about the difficulty of enforcement, you are correct: Unless the elderly are informed about this benefit they cannot avail themselves of it. One way to inform them is by class action litigation....Read more »
I work in the accounting departing. My duties include payroll, accounts payable, paying taxes. The corporation I work for is not in any tax debt right now. Due to some changes with the bank I may need to be added as an authorized signer to move money around the company accounts, Payroll, payable... Read more »
Although it is impossible to predict what your future has in store for you, it is safe to say that merely being the bookkeeper and having signing authority on the company account--in and of itself--is not enough to tag you for some possible taxes due in the future. However, it is just as safe to...Read more »
My husband is incarcerated and was tje sole provider for tax yr 2018. He filed head of household and claimed our 4 children but dodnt put me on the taxes at all so he could keep the money..what do i do
My children's father has forged my name on 3 years of tax returns and for the last 2 years, he has filed our children, without my permission. I have asked him repeatedly not to do this. So my question is, can the non custodial parent be penalized for not having a signed form 8332 from the custodial... Read more »
If your husband forged your name that is illegal. Unfortunately many non-custodial parents do not fill out the 8332 when they file. If you are entitled to claim the children you will likely have to paper file since the children's social security numbers have been used and you will not be able to...Read more »
We've been separated since 2015. Separate maintenance was put in place. He moved out abandoning our children and I. He filled a fraudulent tax return in 2016. His attorney has filed a motion against me to force me to file joint taxes with him in 2017. Is this legal? What are my rights? Our... Read more »
Considering you are divorcing and you do not have faith in the ability of your soon to be ex to file an accurate return, you can file married filing separately. You could file head of household if you are separated, lived in separate households for the last 6 months (or more) of the year and...Read more »
I am retiring soon, and plan to roll my government 401K-type plan into a self-directed checkbook IRA, with me as administrator and possibly also custodian.. The principal investment will be flipping foreclosure homes. I plan to buy the houses jointly with my IRA, to maximize the funds I have... Read more »
You cannot live in the house. Anything that you use IRA money to buy cannot be for the benefit of the IRA member. You can manage the LLC that you set up, but you cannot work on the house yourself nor live in it during renovation. That is a prohibited transaction and will cause the IRS to...Read more »
You are required to pay rent because your rent obligation is determined through the contract you have with the landlord. The past taxes are the responsibility of the landlord, but this will not relieve you of your obligation to perform under your rental agreement as contracted with the landlord....Read more »
We filed married/joint in the past and with 2 dependents resulting in receiving EIC. Now both children are over age 17 which lessens the refund, I know. Which way would I get a better return, especially being currently unemployed?
If you are still married you cannot file as single. You can file married filing jointly or married filing separately. It is impossible to tell you which way you would get a bigger refund so I can only speak in general terms. There are certain deductions that you will not be allowed to take if...Read more »
This is not something you should be posting on a public forum. You need to contact a tax attorney and discuss your options. Most of us offer a free consultation. A good tax attorney should be able to help you reconstruct your records and seek to minimize your penalties.
I am assuming that you are referring to a property tax bill. nullo bono means many things, however, it is likely that the County realized that the tax bill was improperly issued. If this occurs, the County can issue a new bill that is correct. If you sold a car, for instance, the bill may be...Read more »
I work as a tipped employee in a restaurant and rarely see a paycheck due to the money I make. I received my w2 and due to the lack of federal withholdings I owe a large amount of taxes. Is there any liability on the employer's end?
The withholding is governed by the Form W-4 you (the taxpayer) fill out when you start working somewhere. Here's a W-4 for 2017 https://www.irs.gov/pub/irs-pdf/fw4.pdf Based on your entries on the Form, the withholding will be adjusted. Often, people will put so many exemptions on the Form that...Read more »
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