Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
I would like to know how much deduction can I take for
I would like to know how much deduction can I take for having a home office … read more
abci168
abci168
Principal
27 satisfied customers
Questions: A(75. Questions: A(75%) and (25%) purchase a
Questions: A(75%) and B(25%) purchase a property.No written agreements. They refinance the equity billed up. A does not distribute excess proceeds and retains 100%. "A" takes 100% of mortgage interest deductions and property tax deductions. "A" collects rent and retains !00% and does not report as income. What is ''A's" liability towards unpaid taxes by taking "B's 25% of property tax, rent, mortgage interest and not reporting those as additional income or gain? "A" collects the mortgage payment for "B" but overcharges on each payment, is the overcharge additional unreported income? "B" writes checks to "A" for his share of the mortgage payment, property tax, then "A" writes checks to the various entities. Trust deeds state the percentages each share. If possible I need a written answer. This behavior spans 20 yrs. … read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
If a person purchases an investment property in florida, can
if a person purchases an investment property in florida, can they purchase a private home for themselves and designate a portion to an office to run the investment property from, 6 months out of the y… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,716 satisfied customers
Trying to figure out the correct way to record roommates
Trying to figure out the correct way to record roommates (all family) within my primary residence where we provide all utilities, internet and at least 5 meals a week. H&R Block said the food cost cou… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,716 satisfied customers
I mean having my Taxes done soon I have an office in my
I mean having my Taxes done soon I have an office in my house for my business I know there's a square footage formula that they use in order to take off for deductions what is that… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
We are a sole proprietor tree service. We use part of our
We are a sole proprietor tree service. We use part of our barn for a saw shop and lots of our land is occupied with piles and stacks of wood for sale, as well as brush waiting to be burned. We also ha… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I have an online E Commerce business. My boyfriend who lives
I have an online E Commerce business. My boyfriend who lives in my home also has an online E Commerce business. Two separate business's. We file separately. I am the only one who specifically use spac… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,748 satisfied customers
We recently purchased an investment property that we intend
We recently purchased an investment property that we intend to rent out. It needs a sizable amount of renovation and we are short of cash, so we intend on using California First, a California PACE (Pr… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
can i write off the depreciation in my house if i am filling
can i write off the depreciation in my house if i am filling jointly with my spouse and also filling for my rental property business (LLC)-sole member?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Hi, One more question. I have moved to California and have
Hi, One more question. I have moved to California and have retained my house in Washington and am renting it out to tenants. For the home in Washington, is my rental income based on the amount of rent… read more
fastfile
fastfile
Tax Advisor
Master's Degree
550 satisfied customers
I have had a house for sale since 2007, due to a job transfer,
I have had a house for sale since 2007, due to a job transfer, that I have not been able to dump. I had a lease-purchase that fell through and had it just rented out once in order to help pay the mort… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,748 satisfied customers
Re 2009 home interest deduction (complicated) hello When
Re: 2009 home interest deduction (complicated) hello: When I purchased home I put a very large down payment 20% on $620K home. I had negative amortizing loan option. For years I only paid minimum paym… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,748 satisfied customers
got married, both owned homes, we sold one house, refinanced
got married, both owned homes, we sold one house, refinanced another, and purchased a new built home. Took a loss on home we sold - $10,000 less than purchase price and that doesn't include any commis… read more
Jacy
Jacy
Bachelor's Degree
567 satisfied customers
I am thinking about buying a home and using money from an IRA
I am thinking about buying a home and using money from an IRA for a downpayment. As I understand it, there is a government program that allows a first-time home buyer to withdraw up to 10K of IRA fund… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
60 satisfied customers
I loan a lot of money on the micro-lending web site Kiva.org.
I loan a lot of money on the micro-lending web site Kiva.org. I plan on never withdrawing the money, as I constantly reloan 100% of the money returned to my account. Can this money be treated as an in… read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
Back in February, I purchased an investment home, which I rent
Back in February, I purchased an investment home, which I rent out. To take advantage of a good deal, I paid cash. All along my thought was that I would finance it later on. A non-leveraged investment… read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
We are considering placing our 3000 sq ft personal residence
We are considering placing our 3000 sq ft personal residence into a newly formed S Corp that was created to also include sales/expenses from our new service business. This year we began renting the up… read more
Anne
Anne
Master Tax Preparer
1,328 satisfied customers
I am married filing jointly. I have a small sewing business
I am married filing jointly. I have a small sewing business where i am a vendor for a medical supply company. I get a 1099 every year. I use one room in my house soley for this business (creating the … read more
Merlo
Merlo
Tax Consultant
558 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