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

Recent Progressive Tax System questions

I have a condo in San Diego that I have owned since October

I have a condo in San Diego that I have owned since October of 2008. I lived in it from that time until October of 2009 when I joined the military. Upon joining the military I was moved around the country from October 2009 to July 2011. During this time I rented out the condo as a long-term rental.In July 2011 I was stationed back in San Diego and I returned to live in the condo from July 2011 until October 2012 when I bought a single family home and moved there. Since October 2012 until the current time, May 2014, I have been renting out the condo as a short term rental. If I were to sell the condo right now would I be subject to capital gains tax?

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,180 satisfied customers
regarding the exceptions work sheet, if adjusted income is

regarding the exceptions work sheet, if adjusted income is $116081 what after standard deductions, what formula would you use to figure deduction for exemptions on line 42?

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,180 satisfied customers
I will be working in China. What can I expect to pay in taxes

I will be working in China. What can I expect to pay in taxes on the my income in RMB (Chinese currency) as a U.S. citizen. And, what portion of my income earned abroad will be shielded from taxation by the IRS? Is there a risk of 'double taxation'?

Read more

USTaxAdvising

Partner

Bachelor's Degree

1,662 satisfied customers
My husband lives abroad due to a work assignment (less than

My husband lives abroad due to a work assignment (less than 30 days in the US in 2011). I live and work in the US. He pays foreign income tax and I pay U.S. tax. His entire income is under the foreign income exclusion amount, however, if filing jointly, the resulting tax is much higher than what I would have paid filing separately. Can i claim foreign tax credit in addition to foreign income exclusion since we're filing jointly? Or are the two mutually exclusive? If so, can I use his foreign tax to offset my US liability (assuming filing jointly)?

Read more

R. Klein, EA

Tax Advisor

Master's Degree

4,668 satisfied customers
I recently have been working 3 separate jobs, and am confused

I recently have been working 3 separate jobs, and am confused on what i should be claiming on my w-4 form. Since i have 3 jobs i dont want to have to owe so much back at the end of the year in taxes. i normally claim 2 on my checks, should i not claim 2 at all my jobs?

Read more

CGCPA

Owner

Bachelor's Degree

3,356 satisfied customers
I am unsure how to fill out a w4 form if I make less then

i am unsure how to fill out a w4 form if I make less then 35k per yearJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: i am single live with a roommate have not student loans or kidsJA: Is there anything else the Accountant should be aware of?Customer: no

Read more

emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

3,954 satisfied customers
If the IRS has notified the treasury department to sell your

If the IRS has notified the treasury department to sell your property can it be stopped with a Chapter 13 bankruptcy?

Read more

emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

3,954 satisfied customers
I've just started a PLLC. What are your thoughts on current

I've just started a PLLC. What are your thoughts on current IRS rules for a business vehicle? In particular, I am thinking of a large SUV (>6,000 lb gross vehicle weight). I understand there is a generous deduction for that. Further, I'm considering a hybrid (plug-in) version. Are there still tax credits available for that?

Read more

emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

3,954 satisfied customers
If I grant to a communications company an easement on my

If I grant to a communications company an easement on my property for a fee of $10,000, is some kind of income tax owed on that payment.

Read more

Mark Taylor

Certified Public Accountant

Masters

802 satisfied customers
View more tax questions
In The News