Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
On August 20, 2017, our family farm was destroyed by a
On August 20, 2017, our family farm was destroyed by a tornado. Over the last 2 years, through insurance payouts, and loans we have rebuilt. my question is about the taxes that we are paying on this i… read more
DK_CPA
DK_CPA
CPA
Master of Science in Accounting & Taxationb
1,865 satisfied customers
I own a small farm and I had a storm knock my main livestock
I own a small farm and I had a storm knock my main livestock barn down. I didn't have the barn insured. Can I deduct the value from my taxes … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,004 satisfied customers
Client has a cattle ranch and breeds cattle. She sells
Client has a cattle ranch and breeds cattle. She sells females when they are too old to breed and male calves to maximize the number of females she keeps (capped at 30 heads). It's clear that the cows… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,818 satisfied customers
Capital gains tax question. Sales price of farm is $699,000.
Capital gains tax question. Sales price of farm is $699,000. House value is $350,000, land value is 349,000. Married filing jointly. Buyer wants to write contract for farm loan which is OK Farm purcha… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
5,634 satisfied customers
My house was flooded during Hurricane Harvey. I had 4 inches
My house was flooded during Hurricane Harvey. I had 4 inches of water. Looking at the IRS tables to calculate my loss it only shows for 1 foot or more. How to I find my tax related loss?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,004 satisfied customers
Does damage from flooding as a result of excessive rainfall
Does damage from flooding as a result of excessive rainfall and gutter failure qualify as a tax deduction of a loss subject to a tax reduction? Water entered a daylight basement and required professio… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,004 satisfied customers
I had a question answered last night but I am still just a
I had a question answered last night but I am still just a little confused. I had a total loss of 2 rental trailers in a flood. I had asked if I needed to use Form 4684 and was advised to use Form 479… read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
959 satisfied customers
My basement was flooded during an 8 inch rain last summer.It
my basement was flooded during an 8 inch rain last summer.It broke out the daylight window which caused a flood of water in my basement. The water level was 3 foot deep and all of the contents ruined.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,004 satisfied customers
We have an agricultural exemption which stipulates profit
We have an agricultural exemption which stipulates profit must be the goal. We loan our land to two young cowboys for grazing cattle during the summer and fall months. What expenses should we be conce… read more
Jesse Handel
Jesse Handel
Tax Preparer and Chemist
Bachelor's Degree
161 satisfied customers
Can i deduct the cost of a heifer and all expenses even if
Can i deduct the cost of a heifer and all expenses even if not a cattle rancher. granddaughter has extensive experience with cows so she wants to raise and breed and then sell babies. is any part of t… read more
PDtax
PDtax
Owner
Master's Degree
5,184 satisfied customers
We have put up a fence & small $3000 barn for use of raising
We have put up a fence & small $3000 barn for use of raising 2 calves & selling for profit. If we decide corn is too high to get the calves can we still depreciate the fence & barn? Another option is … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,818 satisfied customers
Retired judge practicing law part time is settled into a 30
Retired judge practicing law part time is settled into a 30 acre farm. All but 2 acres are dedicated to raining beef cattle. Started in 2009. Getting started has been very very expensive(barns, fencin… read more
Anne
Anne
Master Tax Preparer
2,574 satisfied customers
My husband died in September 2010. He operated a logging business
My husband died in September 2010. He operated a logging business for many years. My question is, how many years after his death can I continue to file on the business? There is no income and no opera… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,004 satisfied customers
We purchased a home on 7 acres and have established a farm
We purchased a home on 7 acres and have established a farm with Chickens, 5 Alpacas. What expenses are we allowed to claim.… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,818 satisfied customers
I have 6 head of cattle and a stallion horse. We breed the
I have 6 head of cattle and a stallion horse. We breed the cattle and sell the beef and use the horse for stud service. Can I use this farming on my taxes?… read more
Chad Oberg
Chad Oberg
Director
Bachelor's Degree
174 satisfied customers
I need to spend about 18000 dollars, i own an insurance agency
I need to spend about 18000 dollars, i own an insurance agency and my home is paid for, my cars are paid for basically i have no debt, we were going to build a non-combustible building to put in some … read more
bizmatters
bizmatters
J.D.
666 satisfied customers
My home and contents were damaged during ike. The total contents
My home and contents were damaged during ike. The total contents damage was 85,000. The total home damage was 54,000. The insurance paid 103,000. Am I allowed to take the 36,000 difference as a loss? … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,004 satisfied customers
How do I reduce my Pennsylvania based farm taxes It is about
How do I reduce my Pennsylvania based farm taxes? It is about 300 acres with a house and barn. Has cows and grows corn.… 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

5,118 satisfied customers

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

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

298 satisfied customers

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

Robin D.

Robin D.

Senior Tax Advisor 4

18,818 satisfied customers

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

Megan C

Megan C

Certified Public Accountant (CPA)

8,665 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