All Questions

0
votes
1answer
2 views

Jonathan Duhamel-Poker player

Which place Jonathan Duhamel came from?
1
vote
3answers
17 views

Home Office Rent Expense for C Corp

If a C Corp is operated out of an office in the home, can "rent" expense be taken on the Corporation tax return for a percentage of mortgage interest, RE taxes, etc. similar to a s …
1
vote
3answers
19 views

Buy out partner with negative capital account.

Partnership with 3 partners, one has negative capital account because he never contributed anything and the parntership has only had losses since inception. The partnership bought …
2
votes
4answers
59 views

RRSP and Canadian exchange rates

I am completing a TR for a US person who cashed in their RRSP in 2009. I have the amount that should be income in the US after he/she became taxable in the US, but the amount when …
1
vote
4answers
61 views

Payment by check not cash as promised

I am a family entertainer, I have now worked as an outside contractor, w -9 filed out for them. I file a 1099. I agreed to perform for $100 per day, I do not accept checks as paym …
3
votes
4answers
60 views

Assumption of Liabilities

For various reasons, I have a client whose parent company would like to assume the liabilities of one of their subsidiaries. Both companies have historically reported their taxes …
3
votes
3answers
201 views

Deductibility of up-front MIP on an FHA refinance?

The 1098 I received from my mortgage company reported a very large amount (several thousand dollars) in box 4, "Mortgage insurance premiums". As the loan was refinanced this year, …
2
votes
4answers
110 views

Clergy Housing Allowance

Anyone have an opinion about whether to take clergy business expenses against their housing allowance to reduce SE vs. listing the clergy business expenses in the itemized deductio …
3
votes
2answers
58 views

Merchant cash advances

How are you treating merchant cash advances (i.e. cash advance coupled with a fee which is subsequently repaid by the provider taking a percentage of credit card receipts) for tax …
2
votes
1answer
25 views

Homebuyer tax credit(s) after divorce is final

Here is the situation. My wife and I recently divorced in Michigan. 4 days after the divorce was final I bought a new home in April of 2010. My prior residence was owned solely by …
3
votes
2answers
31 views

alimony recapture , ex not paying in the 3rd year

My Ex paid alimony the first 2 years of 5 years. Payment was a percent of his salay. 50% the 1st and 2nd year. 25% the 3rd year. This year being the 3rd year. Ex was laid of …
3
votes
2answers
27 views

Is expat subject to NY state tax if his family maintains apt in NY?

US citizen has lived abroad for the past year and salary is paid by a foreign entity. He has resident status in this country. However, his wife and child live in NY and their apa …
2
votes
3answers
64 views

Schedule-C or not?

We bought land and built a home to make a profit from the sale. We did not live in the home and it was not a second home. We did all the contracting ourselves and when it was rea …
2
votes
4answers
54 views

Florida sales tax on planning fee?

We are going thru a Florida sales tax audit and are being told that our conference planning/management fee is taxable because of pass-thru items on our invoice for which we just re …
2
votes
1answer
24 views

Change to Cash Basis

Want to convert a parent (Sub S) and sub (QSSS) to the cash method using Form 3115. Will they qualify for "automatic" under the 3 yr/$10,000,000 Avg. rule if the parent's avg. gros …

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