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

Recent tax questions

I'm generating Oregon Form WC. I'm selling a

I'm generating Oregon Form WC. I'm selling a property for $120,000 with no money down and carrying the loan at 9.4% interest. So the first year will be mostly interest payment and very little principle. I read at https://www.oregon.gov/DOR/forms/FormsPubs/form-or-18-wc-tpv-18_101-183_2015.pdf that " The authorized agent is only required to submit a tax payment on the first installment of an installment sale". Since this is a straight 30 year payment plan with $0 cash up front (i.e. first money I receive is 30 days after the sale), then what line item on Form WC reflects this? #1 Consideration? or maybe #3 Net Proceeds?

Read more

rakhi.v

Financial / Legal Advisor

Bachelor's Degree

 
3,900 satisfied customers
I am a recent retiree from VAH and initially ytransferred

I am a recent retiree from VAH and initially ytransferred TSP savings to NWLI for an annuity but before signing policy I changed my decision due to unexpected financial difficulties. The company returned a check to me without retaining taxes. I ant to comply with legal regulatory taxes that apply. My question is if that is payabke when filing in 2017 or now. Please help me with your advice.

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,336 satisfied customers
2014 return filed jointly. My wife made the full amount of

2014 return filed jointly. My wife made the full amount of social security tax payments ($7254). I has 2 jobs and paid $9966 in social security. Using TurboTax, I showed a excess credit of $2713. The IRS sent me an audit notice that owe $2713.

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,336 satisfied customers
I am in Los Angeles California. I am self-employed. I am

I am in Los Angeles California. I am self-employed. I am making this year less money than last year so my estimated tax payment for the quarter is going to be less. Do I need to attach any other form with my estimated quarterly slip if my payment is now lower than the calculated based on what I had made last year because this year I am making less money?

Read more

Robin D.

Vocational, Technical or Trade School

 
20,318 satisfied customers
Reasons, I was unable to file my federal income taxes and

For various reasons, I was unable to file my federal income taxes for 2013 and 2014 on a timely basis. I finally put everything together over the last few days, and I'm ready to submit my returns.Knowing back in 2013 and 2014 that I was likely to be filing well past the due date, I attempted to make large estimated tax payments for the 2013 and 2014 taxes. Now that I have finally done my taxes, I find that in the case of my 2013 taxes, I overpaid by approximately $10,000. However, for my 2014 taxes I underpaid by approximately $6,000.I have a few related questions about penalties I may now owe. Since I fully paid my 2013 taxes, am I still subject to a penalty on them for filing late? For my 2014 taxes, what are the penalties I will owe, and what forms do I use to calculate/report them? Also, since I overpaid on my 2013 taxes, can I apply the refund on the 2013 taxes to my 2014 taxes? If I can, then I would actually not have underpaid for 2014. If I can do that, should I first file only my 2013 taxes, and then wait a few weeks for the2013 refund to be applied to my 2014 taxes so that there is no confusion when I claim on my 2014 return that I had 2013 refund?

Read more

Robin D.

Vocational, Technical or Trade School

 
20,318 satisfied customers
We have a very large term capital gain . Does this push our

hi...we have a very large long term capital gain for 2016. Does this push our regular income tax into a higher bracket?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: we have a long term capital gain of $330,000 for the 2016 tax year. My wife and I have combined income of about $180.000 and file married jointly. Will the regular income of $180,000 be taxed at the high or highest rates of 35% and 39.5% respectively?JA: Is there anything else important you think the Accountant should know?Customer: noJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.

Read more

Megan C

Master's Degree

 
29,942 satisfied customers
This is in regards to California tax requirements LLC.

This is in regards ***** ***** tax requirements for an LLC.Background Info:-single member LLC-formed 01/18/2016-elected to be treated as an s corp for tax purposes-paid $800 in March using form 3522-I will not exceed $250,000 in gross income for 2016 with my LLCHere's where I'm confused:What is the deal with form 568 for first year LLCs? I've looked at the form, and I see areas asking about total income, etc. If this is my first year, how do I know what my income will be? Is that because they are asking about last year, which would make all my information $0?What is the deadline for form 568? And is it a form that requires me to pay a tax/fee?As mentioned above, I paid $800 LLC tax using form 3522 before the 15th day of the 4th month.I want to make sure I file form 568 correctly, and make payments that are required.Help!

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,336 satisfied customers
My wife and are now retired. Our income each month is now

My wife and are now retired. Our income each month is now fixed and I want to know what we need to send to the irs each month. Social Security pays me 1334 and my wife 2160 each month. She also receives a combined monthly income from 3 pensions totalling 1950.20

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,336 satisfied customers
I received a notice from the IRS saying that I owe them

I received a notice from the IRS saying that I owe them money--that I don't understand.It may be a LTR 99C-----(there are many codes in the upper right of the page)In essence the says 'the totals you reported on the following statements don't agree with the amounts you reported on your tax returns.'It references Forms W-2 & W-3 & Form 941.What is this?

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,336 satisfied customers
View more tax questions

How JustAnswer Works

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Pay nothing to your Expert if you're not satisfied.

In The News