Tax

Have a tax question? Ask a tax Expert

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

Related Tax Questions
I am having problems understanding how these transaction
I am having problems understanding how these transaction actually go into the equity account. Since they come from different places. Which money do I allocate to this account. the 750 first one is the… read more
DK_CPA
DK_CPA
CPA
Master of Science in Accounting & Taxationb
1,922 satisfied customers
Question regarding types of trusts: my husband and I are
Question regarding types of trusts: my husband and I are interested in setting up a trust. The purpose is: (1) to avoid probate in the event of death; and (2) for some assets, to shield from liabiliti… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
44,566 satisfied customers
In Quickbooks I have a bank account and a credit card
In Quickbooks I have a bank account and a credit card account that I make purchases from for business expenses. When I do my books I Record payments to the credit card as transfers from the bank accou… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
5,734 satisfied customers
My father-in-law is the sole beneficiary of a revocable
my father-in-law is the sole beneficiary of a revocable trust that he and his deceased wife established (she died 6 years ago). That Trust held a portion of a home that was sold in 2017 and the procee… read more
Tax.appeal.168
Tax.appeal.168
Principal
7,280 satisfied customers
At age 90, I have a Brokerage CD IRA and would like to
At age 90, I have a Brokerage CD IRA and would like to transfer this to a trust (revocable trust) that I have recently setup for my children with minimal tax implications. What is the best way to do t… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
44,566 satisfied customers
Robin, I am reading that the beneficiaries of a revocable
Hi Robin,I am reading that the beneficiaries of a revocable trust don't pay taxes on the distributions. Please see below the text I read. So if my mom (a non-resident, foreign person living outside th… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,818 satisfied customers
Want to set up a trust for my grandchild. Nevada. my
Nevada. my grandson just turned one year old. My wife and I, both around 70 and retired, with SS benefits and investment incomes, plan to start the trust with $20,000 now, and add $20,000 every year in an investment account for distribution when he turns 21. I am looking for an arrangement so the income generated will not be taxed until distribution, similar to a ROTH IRA. … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
44,566 satisfied customers
DOES AN EIN NUMBER PROTECT A REVOCABLE TRUST, WE OPEN A
WE OPEN A CHECKING ACCOUNT AT CHASE BANK AND I TOLD HIM WE HAD A REVOCABLE TRUST AND HE SUGGEST APPLYING FOR EIN NUMBER AND ALLOWING IT/THE EIN BECOME THE BENEFICIARY OF THE TRUST. … read more
Richard
Richard
Tax Attorney
Doctoral Degree
5,118 satisfied customers
Can a revocable trust, after both Trustees have passed....co
For ***** *****" can a revocable trust, after both Trustees have passed....co trustee also the beneficiary of decedents estate.....can the current trust with Real Estate deeded to Trust....can I the C… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,539 satisfied customers
I have recieved in feb all funds from my mother trust, How
I have recieved in feb all funds from my mother trust, How do i claim or do i have to claim the funds Will I have to pay taxes? Can I use on line tax form The trust was in NC I live in Ca… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,270 satisfied customers
My question is as follows: An owner withdraws money from
My question is as follows: An owner withdraws money from a 401k they own and have structured themselves. How would the withdrawl be posted in his books? Would the ledger reflect a credit to the bank a… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
Can a "Spendthrift" Trust be set up for an unincorporated association
Can a "Spendthrift" Trust be set up for an unincorporated association or other entity as benefiary? We ask because we attended with several friends a "planning" workshop for people getting gas and oil… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
2,721 satisfied customers
If I create a revocable/living trust with my son as beneficiary,
If I create a revocable/living trust with my son as beneficiary, and then I have the trust incorporate a non-profit organization which it “owns”, will the IRS be less likely to grant the non-profit ta… read more
winktax
winktax
Enrolled Agent
Master's Degree
425 satisfied customers
I live in Calif. I want to open a personal checking acct with
I live in Calif. I want to open a personal checking acct with a bank in Nevada that has no branches or is chartered or affiliated in any way with Calif. I'm fighting with the state on taxes and I don'… read more
Jax Tax
Jax Tax
Senior Tax Attorney
Master's Degree
1,394 satisfied customers
My uncle has an irrevocable trust and it is taxed under his
My uncle has an irrevocable trust and it is taxed under his tax id # (social security number). He is the grantor, but I am the trustee. He opened up a bank account with this irrevocable trust under hi… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
I have a tax question regarding my revocable trust. My revocable
I have a tax question regarding my revocable trust. My revocable trust owns my IRAs. I have just read "Qualified plans such as IRAs, 401(d)s, pensions, thrift plans, Keoghs, SEPs, and other plans wher… read more
Bill
Bill
Master's Degree
3,177 satisfied customers
What form do I file as a trustee for a simple bank trust
I am the trustee for a trust created by a decedent's irrevocable trust. The trust I am trustee for is just a bank account held in trust for a few years for another person. Initial deposit was 100k, an… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
my father in law passed away and left his IRA to the family ...
my father in law passed away and left his IRA to the family trust, which my daughter is beneficiary and I am the trustee, I am told that I must liquidate the assets and pay creditors, is this True? I … read more
Bill
Bill
Master's Degree
3,177 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