Join the 9 million people who found a smarter way to get Expert help

Recent Fair Tax questions

I filed state taxes for Georgia in 2010. My filings were wrong

I filed state taxes for Georgia in 2010. My filings were wrong and now they say I owe $393.00, I show where $205.00 was held and $140.00 was held, Total $345.00They gave me $32.00 back that year.Also the figure they have for income is off by 2,000.00 over. I think I took 2400.00 credit for unemployment not realizing that it was only for the 2009 year. My total income was 13,969.00 they said it was 15.400.00.Breaking the bank I am...lol Can hardship be a factor, it took me 2 yrs to land this contract job I have now, for 4yrs running at the same location. But making a whopping 23000.00 I am 63 yrs old, barely getting by after being downsized in 2008 from a good paying job. All I own is my car, I have nothing else, living with a friend.I have started proceedings for small claims court,as the tribunal wants $60.00But now my interest and penalties are accruing. I did not get the notice on this until 12/14/2014What are my options and how should proceed. Is small claims the best way to go?

Read more

Lev

Retired

Bachelor's Degree Equivalent

24,192 satisfied customers
i need help and an example with how to report the sale of RSUs

i need help and an example with how to report the sale of RSUs in 2012 that were reported as a single line item on my 1099, but involved the sale from multiple vesting lots.

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,706 satisfied customers
I did some work as an independent contractor from August through

I did some work as an independent contractor from August through early December and I submitted a bunch of invoices to my clients, some of which have been paid to me and some of which have not. For the invoices that haven't been paid, how do I handle this on my taxes? Do I simply ignore it on this year's taxes and then treat it like it was earned in 2012? What if they cut the check in December but I don't cash it until January?Since I realize this is a very simple question, it would also be great to get some detail about why or other "good to know" related info.

Read more

CGCPA

Owner

Bachelor's Degree

3,360 satisfied customers
My spouse and I filed married Jointly last year and received

My spouse and I filed married Jointly last year and received a maryland refund of $1547. This year we are filing married seperately. My question is on the 1040 line 10 would both my spouse and I have to enter the $1547 and both be taxed on the full amount. This doesn't seem fair to be taxed on the $1547 refund twice since we are filing seperately this year. Can just one of us enter the refund on line 10 or maybe divide it in half.

Read more

Merlo

Tax Consultant

558 satisfied customers
After selling a mutual fund in 2005, my husband and I ...

After selling a mutual fund in 2005, my husband and I realized a capital loss. We have been able to claim $3000 on this loss each year on our tax return. The amount of loss remaining is $64,560 to be claimed over the coming years. If the FairTax is initiated, how will we be able to realize the value of this capital loss carry over? Would it be wise to sell some of the stock we currently hold to claim this loss on capital gains? Is there a limit on the amount of stock you can sell during one fiscal year in order to apply this capital loss carry over? Thank you.

Read more

Wayne Brasch

Accountant and Business Consultant

Master Degree

718 satisfied customers
after the fair tax has past wont the irs be around for ...

after the fair tax has past wont the irs be around for years auditing the country for bask taxs

Read more

Christopher Phelps

Sole Practitioner

Master Degree

1,180 satisfied customers
I am getting a 1099-misc form but I am not my own ...

I am getting a 1099-misc form but I am not my own business Is it in my interest to not have a schedule C

Read more

Wayne Brasch

Accountant and Business Consultant

Master Degree

718 satisfied customers
Eva, I meant to rate you at 5 stars, but the stars would not

Eva, I meant to rate you at 5 stars, but the stars would not take it. It may have accidently onlydid 2 stars. please reply & I will re mark the 5 stars.Thank you,Fred

Read more

emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,202 satisfied customers
The State of Texas has frozen a bank account of mine and

The State of Texas has frozen a bank account of mine and removes some of the money from the account. I was, but not am a citizen of the State of Texas and I never received any notice from the state. Is it legal for the State of Texas to take such action and my that action be reversed?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: I have not lived in Texas for over 2 years. I now live in Tennessee. Does Texas still have any jurisdiction? And, I have not conducted business in Texas for years, and own no taxes as far as I know.

Read more

Mark Taylor

Certified Public Accountant

Masters

1,250 satisfied customers
View more tax questions
In The News