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Recent Omnibus Budget Reconciliation questions

An employer offers to pay an employees medical for 3 months

An employer offers to pay an employee's medical for 3 months as part of her severance package. Is this taxable compensation to her?

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Robin D.

Vocational, Technical or Trade School

22,322 satisfied customers
Have a client who owned a hotel....they ended up having to

Have a client who owned a hotel....they ended up having to let the hotel go to auction, where another hotel ended up buying the note and forcing them into forclosure...the other hotel ended up taking all the assets of the hotel with them. My question is, I need to get the note off my clients books and the assets off the books....What are my steps.

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PDtax

Owner

Master's Degree

7,368 satisfied customers
My fiances mother, 93, just went into assisted living , lives

My fiance's mother, 93, just went into assisted living , lives in calif, half the house is in trust from her fathers death in 1987. Can they have her buy the half of the house with her remaining dollars, pretty much all her cash,so they can pay for her assisted living. She is totally with it. Her doctor asked her to spell world and then asked her to spell it backwards and she did it faster than me and I went to medical school.what are the tax and gift issues.

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Lev

Retired

Bachelor's Degree Equivalent

24,194 satisfied customers
Here is the senario, I started a new job after being laid

Here is the senario, I started a new job after being laid off, I got a new job and my current employer does not off health insurance but he offered to pay my COBRA premiums for me, his accountant at the time told him that as long as he paid the premiums and I did not have unrestricted access to the money that it would be tax-free payment for him since its healthcare, since then he has a new accountant and he states that the premium payments would be taxable. So we are a little confused as to what the status of these payments would be?

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Anne_C

Attorney

Doctoral Degree

1,496 satisfied customers
i have an employee on LT disability who is terminating his

i have an employee on LT disability who is terminating his employment due to illness. The firm would like to continue to pay his health insurance. Is this taxable to him? How is it reported?

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JKCPA

Certified Public Accountant (CPA)

Bachelor's Degree

4,666 satisfied customers
I was gifted my fathers house for $1.00 in May 2005 and it ...

I was gifted my fathers house for $1.00 in May 2005 and it has a life estate clause in it. My father was put into the nursing home in May 2007 and was approved for Medicaid in 2007. I need to sell the house now as I cannot afford the expenses and taxes. Can I do this with out the Nursing Home getting anything. I have always lived in the house and am my fathers care taker and Power of Attorney. My father is now under medicaid and hospice care.

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Lev

Retired

Bachelor's Degree Equivalent

24,194 satisfied customers
I had some errors on my 2015 Form 709 Part 2 line 7, .I

I had some errors on my 2015 Form 709 Part 2 line 7,JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: .I called the irs and was told to use 2,178,800 as the amount of the exclusion. Seems wrong. Also, I had several previousJA: Is there anything else the Accountant should be aware of?Customer: I filed 709s for two previous years and my income has never been greater than 75k. The irs agent said I simply made a mistake on the form and gave me some numbers to file an amended form. I worry about the exclusion amt. that was quoted.

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Dr. Fiona Chen

President

Ph.D.

782 satisfied customers
Does Post 9/11 GI Benefits count as income? Not asking for

Does Post 9/11 GI Benefits count as income? Not asking for tax reasons. Asking if it is considered income legally say for something that takes into account your income to decide a fee or something like that. Yes or no that counts as income and where can I find that (legal document that says so)

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,906 satisfied customers
Nevada tax question. I have a person in Las Vegas with a DMV

Nevada tax question. I have a person in Las Vegas with a DMV receipt forVIN INSPECTIONPRISON INDUSTRY FEEREGISTRATION FEE-PASSENGER VEHICLESBASIC GOV SERVICES TAX-CLARKSUPPLEMENT GOV SERVICES TAX-CLARKEach has its own cost.Which, if any of these, are tax deductible???

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Dr. Fiona Chen

President

Ph.D.

782 satisfied customers
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