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How much does this service cost? Do they let you know cost
I got a notice from its that they feel I owe more for 2015 due to Ira deduction being disallowed. I got the deduction worksheet for 2015 and it requires your total income number but in order to get total income I need to know the Ira deduction allowed. So stuck between the two figures. I used a software free service to do the filing in 2015 … read more
Chad EA, CDFA®, CFP®
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TouboTax question: For earned income credit, your investment
TouboTax question: For earned income credit, your investment income must be $3400 or less, and the income limit is $39296. I only had $17 of investment income in 2016. But TurboTax told me that I'm no… read more
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I have Form 1040 client that owns a husband/wife law firm,
Hi Stephen, I have Form 1040 client that owns a husband/wife law firm, each sharing $ 140K ($ 70K each) on a K-1 and $ 20K each on a W-2. I want them to fund a SEP IRA as well as their traditional IRA… read more
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What are the tax benefits/ of a C-corp over an S-corp reguarding
What are the tax benefits/ of a C-corp over an S-corp reguarding putting net profits in a Roth IRA (for the sole owner), as far as ability to write it off?… read more
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My wife and I filing jointly, have a modified AGI of $122,495
My wife and I filing jointly, have a modified AGI of $122,495 (including taxable SS $) and am trying to figure out if I can contribute to an IRA for my wife. I have a simple IRA at work. She began rec… read more
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I have a Roth-IRA account and did not contribute anything to
I have a Roth-IRA account and did not contribute anything to it during the 2011 tax year. Instead, I had to do early withdrawal of $6000 from my Roth-IRA in 2011 for emergency purposes. However, now I… read more
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If I already max out a 401K contribution through my
If I already max out a 401K contribution through my employer, can I still set up a Roth IRA and make contributions to it, with the money growing tax free? If yes, are there any limitations?… read more
Robin D.
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Can I take my retirment vacation/sick payout of $6,000 and
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When converting a 401k to a Roth IRA, does the amount transferring
When converting a 401k to a Roth IRA, does the amount transferring from the 401k get calculated in your adjusted gross income? For instance, if an adjusted gross earned income for someone filing singl… read more
JKCPA
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This question is to CPA. My sister is 75 years old,single
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Can i open a Traditional IRA today (reducing taxes) and then
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I have a question about IRAs. I am an expatriate working overseas,
I have a question about IRA's. I am an expatriate working overseas, and have met the physical presence requirement (330 days out of the US). I am married filing jointly, and my gross income exceeds th… read more
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I am 58 yrs old making 110,000 a year. Im already maxing
I am 58 yrs old making 110,000 a year. I'm already maxing my 403(b) and 457. Can I still open and max a Roth IRA?… read more
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Me and my wife (Ages 38 and 36) make approx 109K AGI. I have
Me and my wife (Ages 38 and 36) make approx 109K AGI. I have a Roth IRA. Can I open one more for my wife and fund it with 5K? Is the 5K limit per individual or per family?… read more
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I have an old conventional IRA started 30 years ago. I am
I have an old conventional IRA started 30 years ago. I am self employed and have a SEP IRA for my self and my office employees. Can I contribute to both and are there any limitations?… read more
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I recently rolled over my 401K from my previous employers
I recently rolled over my 401K from my previous employer's plan directly into an individual IRA. I now work for a company that does not have a 401K plan. However, I would still like to contribute to a… read more
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If the Ret. plan box (#13 on my W-2) has an x in it, and
If the "Ret. plan" box (#13 on my W-2) has an 'x' in it, and I did not participate in my employers retirement plan (403b), will the IRS question , or allow me to deduct the $2,400 I contributed to an … read more
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