Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
I am confused on closing an S Corporation with cash, loan to
I am confused on closing an S Corporation with cash, loan to owner, and a credit card that he is going to pay off personally. … read more
taxmanrog
taxmanrog
Master's Degree
1,193 satisfied customers
I bought my home in may 15, 2015. I was carefully budget before
I bought my home in may 15, 2015. I was carefully budget before purchased my home. the home was $145,000 and I put $10,000 Down mortgage, the home was remaining $135,000 of the purchase price. On Dece… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I borrowed 31000 from my 401k to fix my house to put it on
I borrowed 31000 from my 401k to fix my house to put it on the market. It sold for 195,000. Now I am wondering what the smartest thing to do is to buy a new house. We are moving from NH to MN. Either … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
My husband is retiring next year, we are going to invest money.
my husband is retiring next year, we are going to invest money. But what I am wondering is if we pay off mortgage and credit card debt would we pay taxes on that money?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I am a physician and recently built a new office building.
I am a physician and recently built a new office building. I am in the process of selling the old building and may realize a profit of $40,000 after paying off the loan. i would like to use this money… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I live in a home on a parcel of land and I would like to cut
I live in a home on a parcel of land and I would like to cut a piece of acreage off and sell. but I'm not sure what the tax would be on the sale vs if I sold the home and the entire piece of property.… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
60 satisfied customers
I filed for bankruptcy in 2010 and credit card debt, a mortgage,
I filed for bankruptcy in 2010 and credit card debt, a mortgage, and an equity line were among the charged off debts. From all my reading, no debt charged off in a bankruptcy is included as income on … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I purchased 44 acres earlier this year for $62,000. I have
I purchased 44 acres earlier this year for $62,000. I have incurred deductible expenses of $5,340 including survey, subdivison fees, soil work, closing costs etc., making my cost basis $67,340. I subd… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,165 satisfied customers
In January of 2009 I sold farm ground for 182,027.98. The buyer
In January of 2009 I sold farm ground for 182,027.98. The buyer paid 89,895.48 the first year and second payment of 92,132.50 this year. My question is how much will I have to pay in caital gains?… read more
Jon Andrews
Jon Andrews
CPA
2,926 satisfied customers
Real Estate/Capital Gains Tax Law Question If I split off
Real Estate/Capital Gains Tax Law Question: If I split off and sell a portion of my lot to a third party, retaining the rest for myself, what is the basis of the sold land for capital gains purposes? … read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Need someone who is an expert with short sales. Not forclosures.
Need someone who is an expert with short sales. Not forclosures. Short sales. We had a 1st mortgage for 270,000 and a 2nd for 68,000. Total was 338,000 with same Bank. House sold under a short sale fo… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I was given some acreage from a family member and used it to
I was given some acreage from a family member and used it to secure a loan to pay off credit card debt. Now I want to sell this property and payoff the loan. What are the tax laws on this sale of real… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I have a mail order business I started from scratch. The ...
I have a mail order business I started from scratch. The mailing list has never been on the books as an asset, since we started it from nothing. The business got in trouble, we got behind on payroll t… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,165 satisfied customers
Im headed toward foreclosure on a house and need some
I'm headed toward foreclosure on a house and need some advice on what to do. I've been advised to file for bankruptcy and short sell the house. Then don't follow through with the BK after the house is… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I recently sold a home I had lived in for 20 years. My ...
I recently sold a home I had lived in for 20 years. My intention is to pay down our current mortgage from the proceeds of that sale. I would also like to pay off a credit card debt at this time. Will … read more
Sandi Hargrove, SkyHawks
Sandi Hargrove, SkyHawks
Master Tax Advisor, Enrolled Agent
Master Degree
1,257 satisfied customers
We just sold an undeveloped 5-acre residential parcel in ...
We just sold an undeveloped 5-acre residential parcel in Oregon for $129,000 which I took over payments on 20 years ago when my father died. We live on an adjacent 7-acre parcel where I built our home… read more
GARY ELLIS
GARY ELLIS
Tax professional
Bachelor Degree
74 satisfied customers
I sold a lake house in 2005 and made a pretty large profit ...
I sold a lake house in 2005 and made a pretty large profit on it. I used the money from the entire sale to pay off a mortgage on a house that I own. Do I have to pay capital gains tax on the profit I … read more
Jon Andrews
Jon Andrews
CPA
2,926 satisfied customers
we sold our home and used the profits to buy another for ...
we sold our home and used the profits to buy another for cash. Should we have taken a mortgage on new home (tax benefits)-- is there any thing we can now do? Also, We want to eliminate an $15,000 cred… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x