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Recent Taxpayer questions

My wife and I are separated and reside in different states

My wife and I are separated and reside in different states (I am a New Mexico resident, she is a South Carolina resident). Can we still file a joint Federal return and seperate state returns?

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Robin D.

Vocational, Technical or Trade School

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Does a Disregarded Single Member LLC Entity with no US

Does a Disregarded Single Member LLC Entity with no US Employees, Office, Warehouse (no ETBUS) selling through Amazon FBA (where is also holding inventory, accross 2-4 states), has to collect any Sales Tax in the US states? Or only in the state where the LLC has been formed (with the sole purpose of liability protection and payment collection)?

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Robin D.

Vocational, Technical or Trade School

22,384 satisfied customers
What is the deduction for one person? Last years was 7,850.

What is the deduction for one person?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Last years was 7,850. is it the same now?JA: Is there anything else important you think the Accountant should know?Customer: no

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Robin D.

Vocational, Technical or Trade School

22,384 satisfied customers
I have an assignment in Europe paid in Euro. The money

Good afternoon, I have an assignment in Europe paid in Euro. The money stayed for a while on a european account.QUESTION: when I have changed the EURO in US$ (and transferred to USA), the exchange rate was significantly different compared to when the money was credited, is this a "capital gain/loss"?

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taxmanrog

Master's Degree

1,006 satisfied customers
My mother passed away last year, and soon the probate on her

My mother passed away last year, and soon the probate on her estate will be complete. I am working in the US on a H1B visa, and my mother was never a US citizen or green card holder. I will be inheriting some property and money from her in Malaysia. I intend to leave the money in Malaysia. What are my obligations in terms of tax reporting in the US? Will any inheritance tax be applied to this? If so is there any double tax relief agreements between US and Malaysia? There will also be a portion of her money that has been designated to be put into a trust for any future medical issues I may have. Will there be any tax implications in US on this trust? Thank you.

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Robin D.

Vocational, Technical or Trade School

22,384 satisfied customers
This question relates to "-to-market" election under IRS

This question relates to "mark-to-market" election under IRS code section 475. To make the election for the 2016 tax year, you must attach an election statement to your 2015 return filed by 4/18/16 (or to an extension request Form 4868 filed by 4/18/16). Is it possible to file 1040X amendments for 2015, 2014, and 2013 to make the election for the applicable year?

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taxmanrog

Master's Degree

1,006 satisfied customers
Tax question: Is it true that judgment recipient must pay

Tax question: Is it true that judgment recipient must pay income tax on the amount of the judgment within the year of decision?

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Mark Taylor

Certified Public Accountant

Masters

2,642 satisfied customers
I have Income from self employment that accumulated over the

I have Income from self employment that accumulated over the year that I want to report. I know the amount but I don't have records and receipts of who and were it came from. Can I report this as miscellaneous self employment income somewhere on tax form? I did earn the money doing numerous small services and I don't want to lose my earned income credit.

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Robin D.

Vocational, Technical or Trade School

22,384 satisfied customers
How can I unblock my withholding compliance for my taxes

How can I unblock my withholding compliance for my taxes that was given to me in Sep 2014 . I have been claiming 0 since then . I filed all my tax returns and we make payments to the IRS . Balance is about 4 thousand left ?

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Robin D.

Vocational, Technical or Trade School

22,384 satisfied customers
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