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Recent Individual Tax questions

Need to get a copy of tax return from 2015 or gross income

need to get a copy of tax return from 2015 or gross income on my tax form. my name is***** filed joint return with my husband, JamesJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Was trying to file this years taxes online using h and R Block and they ask for Gross income for 2015 I filed with Jackson Hewitt and my tax papers did not have the actual return paper in it there fore I can not complete fileing.JA: Is there anything else important you think the Accountant should know?Customer: no

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,856 satisfied customers
Not file taxes for 7 years what should i do, ive been ill

not file taxes for 7 years what should i doJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: ive been ill for years unable to work,I even filed for social security but was turned down. I was hospitalized 3 times since 2009 and in the wayne county mental health system. I have been living in poverty but I have managed to keep my house , the payment is 800 per month. Iwas in a couple of trusts and got help from family,I also sold eveything I own. I am back to work part time and hope to be back full time this year. I am afraid of going to jail or losing my home, wht should i doJA: Is there anything else important you think the Accountant should know?Customer: i have done to many things to survive financial over the years to list, I have rented my house , worked odd jobs with freinds worked for family helping them paint their house ect In a lot of cases they were just giving me charity.I dont want to drag anyone into my mess .

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,856 satisfied customers
Handling an estate with a distribution of $500,000. payable

Handling an estate with a distribution of $500,000. payable to the Estate. How do I handle the taxes?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,412 satisfied customers
Starting a bookkeeping business. Trying to determine the

Starting a bookkeeping business. Trying to determine the best type of company to start. LLC or S Corp. Or should I start a single member LLC, disregarded entity, to own an S Corp?

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Mark Taylor

Certified Public Accountant

Masters

3,298 satisfied customers
My mother just passed away recently, and among other things,

Hi my mother just passed away recently, and among other things, she left a few CD'S for my sister and I to split. The CD's were opened in trust for us and we are the only beneficiaries as well. My question is, can we go ahead and cash those CD's in, or do we have to wait for the will to complete the probate process?

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Lev

Retired

Bachelor's Degree Equivalent

24,326 satisfied customers
I am a resident alien in VA, entered the US in late May on

I am a resident alien in VA, entered the US in late May on an ESTA intending to spend the summer with my boyfriend. We ended up getting married and I stayed. I own an LLC (two members) overseas and employ myself on minimum wage. My job is location independent, which is great, and my accountant has been making sure everything runs smoothly over there. All of my taxes as well as mandatory social and medical insurance have been paid. However, as I spent over 183 days in 2016 in the US, I am considered a US tax resident. My husband wants to file joint tax returns. He tried to enter my income but says he needs my Federal EID. I found some information online on how to obtain it but it is really confusing. Could you please shed some light on what I need to do or what I possibly should have done months ago?

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Robin D.

Vocational, Technical or Trade School

23,164 satisfied customers
Air & and Taxes - A client puts a house or a room/area of

Air B&B and Taxes -Hello,A client puts a house or a room/area of their house on AIR B&B to rent out and the length of stay is normally 7 days or less, what schedule should this income go on the individual tax return?1. Can it be treated as regular rental - passive income on a schedule E?2. Or is it active income and must be taxed for self-employment?Thanks,JW

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Mark Taylor

Certified Public Accountant

Masters

3,298 satisfied customers
I am filling out Form 5471 and have a question. I am a 15%

Hi,I am filling out Form 5471 and have a question.I am a 15% shareholder in a foreign corporation. I already determined that I am category # 3. As part of category 3 requirements, I need to fill out SCH B.Do I need to list all of the US shareholders of the foreign Corporation? I think that there are at least 3-4 US shareholders, but I am not sure that I can retrieve there information (especially their SSN and annual accounting period).Or, do I need to list only myself since this is an individual tax return?Could you please clarify.Thanks!

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Lev

Retired

Bachelor's Degree Equivalent

24,326 satisfied customers
My brother just passed away and I am named as beneficiary on

Hello. My brother just passed away and I am named as beneficiary on his bank account. I also have durable POA for all financial matters. There are two outstanding debts that I wish to pay using funds from the accounts for which I'm named beneficiary. I believe that the funds I receive as beneficiary will be considered taxable income to me. Question: How can I pay the debts out of the funds from his accouns before those amounts are counted as taxable income to me?JA: When we are ready I'll take you to the appropriate web page.Customer: Correction, there are 3 retirement investment accounts and one checking account.JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: I believe I have given the salient information.

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taxmanrog

Master's Degree

1,148 satisfied customers
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