I am a US non resident who was working for a US based
I am a US non resident who was working for a US based organization in Africa. We separated in May 2016 and would like to withdraw from the 401 K which I no longer contribute to. How can I get this done and how can I go through the tax relief since I have not even stepped in US.JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: That is all
When I sell my primary residence in Colorado and move to New
when I sell my primary residence in Colorado and move to New Mexico will I have to pay any taxes if I sell below $100kJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I stated above that I am selling my primary residence in Colorado and moving to New Mexico for work and am selling for below $100k. do I have to pay taxes on the amount I receiveJA: Is there anything else the Accountant should be aware of?Customer: I am a Senior
Vocational, Technical or Trade School
I have a few questions. I own a unit in a co-op. 1) Can I
Hello. I have a few questions.I own a unit in a co-op.1) Can I deduct the the buildings ( recipient/lender )mortgage interest ( form 1098 ) on my tax return ( itemized deduction - schedule A) as payee/borrower?2) Do I need to include the annual NY real estate tax abatement I receive that is credited towards my monthly maintenance as income on my tax return?3) Do I need to include the annual cooperative real estate tax abatement ( STAR ) rebate that I receive as a credit towards my monthly maintenance as income on my tax return?4) I receive an annual notice from the Corp. with the $ amount per share allowable to shareholders for claiming a deduction for the Corp's real estate tax expense ( i.e. $5.00 per share x 500 shares =$ 2,500. ) Do I deduct the $2,500 on schedule A under real estate taxes?
I am a overseer of a non-profit -508c1A. On the donation
I am a overseer of a non-profit -508c1A. On the donation receipt, there is a cash line,where I put the amount given. Below the cash line there is a credit line-can I accept a pomise to pay note ,payable in 2017? Will the IRS accept the cash and credit added together as the total donation for 2016 return. Tom
My husband's estate received $18,000 from the State of South
My husband's estate received $18,000 from the State of South Carolina's unclaimed funds. After the money was deposited into the estate account, as my husband's only heir, I transferred the money into my personal account. Do I have to pay income tax on the money or does my husband's estate pay the taxes?JA: Since estate law varies from place to place, can you tell me what state this is in?Customer: South CarolinaJA: Has anything been filed or reported?Customer: No. I got an extension on my 2015 taxes, but have to file by October 2015. So not sure if need to report it on my income tax or the estate tax filing.JA: Anything else you want the lawyer to know before I connect you?Customer: My husband's estate has not been closed yet. Has to be closed by Jan. 2017.
Sr Financial & Tax Consultant
I'm setting up a new company in Quickbooks and have a
Hi - I'm setting up a new company in Quickbooks and have a question about the Owner Contribution / Owner Equity account. I would be really be easiest to speak with someone on the phone, if possible. Would someone be able to call me at(###) ###-####Thank you *****
I file a very simple tax return every year, receive a refund
I file a very simple tax return every year, receive a refund of about $500. I just recently found out that I had a pension account with a company I worked for over 20 years ago. I am going to take the lump sum payment to pay off my remaining debt. My question is, even though they will deduct 20% in federal taxes and an additional 10% penalty since I am under 59 1/2, I would like to know how this will affect my tax filing? Will I have to pay instead of receiving a refund?
Vocational, Technical or Trade School
We are a S Corp and pay for shareholders med premiums in a
Hi,We are a S Corp and pay for shareholders med premiums in a group policy as with all other employees. As I understand we must include the shareholders' premiums in addition to their income on their W2s and they will be taxed on the premiums and all other employees will not. My question is, must we include their exact premium or can we use average premium? In addition, as I understand, the company cannot take a deduction for their portion of the premiums as well, is this correct? Again I am only referring to shareholders, medical and dental premiums?Thank you
Financial / Legal Advisor