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Can one get 100% decoction from a money scam? Mail order
mail order scam which started as a out town phone call. … read more
emc011075
emc011075
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I am dealing with a company called SKilled FInancial
I am dealing with a company called SKilled FInancial Consultancy, and Emerald Sports/ Cloverleaf Bookmakers, with whom I have supposedly made a fair bit of money, but when I went to withdraw it they c… read more
taxmanrog
taxmanrog
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I am a Card holder planning to sell foreign assets (property
Hi....I am a Green Card holder planning to sell foreign assets (property in India)...I am aware that I will have to pay the higher of the 2 tax liabilities (either Indian or American)..I expect my US … read more
Chad EA, CDFA®, CFP®
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I have an S-Corp and am the sole owner. I want to start an
I have an S-Corp and am the sole owner. I want to start an LLC and fund the company with a 100k capital investment from my S-Corp. The only operations the LLC will have this year will be setting up (n… read more
Megan C
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I have a client that was a victim of a Romance/Business Investment
I have a client that was a victim of a Romance/Business Investment Scam. She has her reciepts and has filed reports with FBI etc. She had a International Investigator look him up. The report basically… read more
emc011075
emc011075
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Bachelor's Degree
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hi Megan, Now, for example I buy a property for 50k, needs
hi Megan, Now, for example I buy a property for 50k, needs 30k in rehab my basis is 80k. assuming I keep it for 27.5yrs and then I sell it for 100k. my adjusted basis is Zero. does that mean I will pa… read more
Megan C
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To answer your question: I was told that dependent deductions
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taxmanrog
taxmanrog
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A few questions for year end planning: 1) My S corp has
A few questions for year end planning: 1) My S corp has a -$800 net income so far for 2013. Do I need to still take a salary, e.g. do the W2 and other forms for myself for 2013? 2) I have 3 USA compan… read more
taxmanrog
taxmanrog
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A C Corp invests nearly all of its earnings in brokerage
A C Corp invests nearly all of it's earnings in brokerage accounts and other investments during the fiscal year. Is the taxable amount for the year only earnings left in the C Corp that were not inves… read more
MequonCPA
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I started a c-corp with some associates. How I continued to
I started a c-corp with some associates. Each of us paid for the stock. I continued to transfer funds to the company to pay for patent related expense, $80K. Can I deduct any of this from my personal … read more
fastfile
fastfile
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Can I claim losses from theft (telephone investment scam) as
Can I claim losses from theft (telephone investment scam) as an individual and where do I claim it on my tax return?… read more
Expert
Expert
is there a Allowable Business Investment Loss (ABIL) in the
is there a "Allowable Business Investment Loss" (ABIL) in the US as there is in Canada - or do we have something other way to deduct an investment loss made to a Magazine venture (Corp) that failed - … read more
William Ellis, CPA
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I have a question about the home equity line of credit. I
I have a question about the home equity line of credit. I took out 190k from HEOC in 5/2005. I used 10k for home improvement in 2005, the rest was used for investment. In 2006 and 2007, I did a lot of… read more
Mark D
Mark D
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I did not receive a k1 or any other paper work after my first
I did not receive a k1 or any other paper work after my first one, because the investment I was in turned out to be a scam, so I was wondering how I can write this thing off?… read more
RD
RD
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If you have been a victom of an internet scam. Can you ...
If you have been a victom of an internet scam. Can you deduct any of the amount you got scamed out of? I also want to know about a home break in ,Can you deduct what your insurance does not cover?… read more
jgordosea
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I was the victim of a Mexican timeshare scam. I signed a ...
I was the victim of a Mexican timeshare scam. I signed a contract to buy some weeks, then realized that it was a scam, but stil lost a $9510 deposit that I made on the contract to purchase. How can I … read more
LEV
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I am inheriting $20,007,000.00 form a my bank in ...
I am inheriting $20,007,000.00 from a bank in England. What would be the tax on this money since I am next to kin.? If I want to donate money to a charity how much would I have to give, instead of giv… read more
Sandi Hargrove, SkyHawks
Sandi Hargrove, SkyHawks
Master Tax Pro and Enrolled Agent
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I lost money $10,000 through an investment scam, the
I lost money $10,000 through an investment scam, the guy escaped to China, but the judge said the money is tax deductible. What form can I fill out? Does it have something to do with IRS code 165?… read more
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