Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
WHAT AMOUNT SHOULD BE STATED ON THE SCHEDULE L (BALANCE
WHAT AMOUNT SHOULD BE STATED ON THE SCHEDULE L (BALANCE SHEET) OF A FORM 1120 FOR THE BUILDING? IS IT THE ADJUSTED COST BASIS OR THE FAIR MARKET VALUE OF THE ASSET? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,394 satisfied customers
I have a building that was demolished by the city. I still
I have a building that was demolished by the city. I still own the land. Is there a tax issue? … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
This tax question regards depreciation, cost basis and asset
Hello, this tax question regards ***** ***** basis and asset reporting when you tear down one vacation rental property and replace it with another on the same lot. The original vacation cottage still … read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
1,930 satisfied customers
This tax question regards a vacation rental property in
Hello, this tax question regards ***** ***** rental property in Massachusetts which is professionally managed and rented out weekly for the May-Sept Cape Cod and used about 3 weeks per year by the out… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I have a client who purchased a commercial building with an
I have a client who purchased a commercial building with an existing tenant in 2014. Several months later, he purchased a 2nd commercial building with an existing tenant next door. The 2nd building wa… read more
PDtax
PDtax
Certified Public Accountant (CPA)
Master's Degree
5,190 satisfied customers
Ok so I have owned our very small business years, I do all
Ok so I have owned our very small business for 17 years, I do all my family's taxes (turbo tax) but now my son started a corporation in Feb 2015...2014 his dba brought in 38000 gross in 2015 his corp … read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
Taxpayer owned a commercial building with tenant on
Taxpayer owned a commercial building with tenant on short-term lease. A new restaurant tenant comes along, but requires that the old building be knocked down and replaced with one that is their curren… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
30,022 satisfied customers
A S-Corp client of mine had s contract by the original owner
A S-Corp client of mine had his contract for deed for given by the original owner (actually 3rd owner) and "repurchased" the property (commercial rental) at a lower amount. The new amount is covered u… read more
PDtax
PDtax
Certified Public Accountant (CPA)
Master's Degree
5,190 satisfied customers
I bought a one story 600 sq foot house in April 2008. Needing more space I demolished the
I bought a one story 600 sq foot house in April 2008. Needing more space I demolished the house to the ground in 2010 and built a brand new 2000 sq foot house. I got married in 2012 and both me and my… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
in 2013, i partially sold my real estate in india to a builder.
in 2013, i partially sold my real estate in india to a builder. i received some cash in april 2013, will receive more cash later. builder is constructing a new 4 flat property from his own resources. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
Built 2 units on one title 6 years ago, have separated from
Built 2 units on one title 6 years ago, have separated from wife and have now separated the titles into 2 names, one for her and one for me. I want to sell mine as i cannot afford to refiance it, will… read more
Expert
Expert
I own an S-corp which has always been an S-corp. I purchased
I own an S-corp which has always been an S-corp. I purchased 100% of the stock in the corporation from another person for $94,360. It was a stock sale. When completing schedule L (Balance Sheet) of 11… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,360 satisfied customers
Aloha, I actually need some answers regarding small buisness
Aloha, I actually need some answers regarding small buisness income tax deductions and other ??? re:: buisness income tax. Is there anyone who can help me? Customer… read more
Chad Oberg
Chad Oberg
Director
Bachelor's Degree
126 satisfied customers
How do I report the transaction on the balance sheet when my
How do I report the transaction on the balance sheet when my client stayed with all the assets and liabilities of the corporation?… read more
RD
RD
Self Employed
Master's Degree
5,572 satisfied customers
Looking to find out on a retail business for a list of what
Looking to find out on a retail business for a list of what I need to close the year. What does the bookkeeper or accountant need to do?… read more
BK-CPA
BK-CPA
Bachelor's Degree
972 satisfied customers
I have purchased land and am constructing a multi family residential
I have purchased land and am constructing a multi family residential project that will take about 3 years to complete. I do not want to enter my land and construction costs as expenses that will show … read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
1,732 satisfied customers
Hi Ed, I bought a private house (by taking a loan) about
Hi Ed, I bought a private house (by taking a loan) about one and a half years ago to be my primary residence. However, because the house was in a bad shape, I had to demoliksh it and build a new one, … read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I am doing a 2007 1120S for a client. He purchased a ...
I am doing a 2007 1120S for a client. He purchased a business in 2006 for $20,000 and did not claim it on his 2006 1120S. I would guess I need to ammend his 2006 return to include a Form 8594? Can you… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 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