Tax

Have a tax question? Ask a tax Expert

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

Related Tax Questions
✔I have a W2 job on which I made $113058.52 ✔I did employee
✔I have a W2 job on which I made $113058.52 ✔I did employee contribution of 4729.47 for my 401k ✔I also had a side business under my single member LLC that made about 150000 in 2020 and have a Solo 40… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
40,873 satisfied customers
I have a W2 job through which I made about 118000 this year
I have a W2 job through which I made about 118000 this year and have contributed 8000 to the 401k run by my employer. I also had a side gig this year which gave me about 150000 this year.I also have a… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
23,416 satisfied customers
A taxpayer (over 50) contributes the maximum 26,000 to his
A taxpayer (over 50) contributes the maximum 26,000 to his 403b. He is also self-employed and has a Schedule C. Can any amounts be contributed to a SEP? Or is it only when the self-employment income w… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,365 satisfied customers
I have 2 questions on my taxes that I am filing for 2019. 1.
I have 2 questions on my taxes that I am filing for 2019.1. I have a W2 income and have contributed 19000 to the 401k Plan through my W2 work. I also have a side company that made profit of $603 in 20… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
40,873 satisfied customers
I am a physician working as sole proprietor as independent
I am a physician working as sole proprietor as independent contractor for 2 doctors and have No employees. I have an unrelated business llc that does repairs and management of Realestate with one empl… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
40,873 satisfied customers
I am 63 with no retirement or savings. I want to retire in
I am 63 with no retirement or savings. I want to retire in 4-5 years and need more monthly cash to contribute more to my 401K. I have about $100K equity in my home and also have a student loan debt of… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
9,513 satisfied customers
Looking for advice on setting up a solo (individual) 401k
Looking for advice on setting up a solo (individual) 401k and what income I can use to invest into it to reduce my 1099 income. … read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
1,341 satisfied customers
I am self-employed (sole). I am about to open a new IRA
Hi, I am self-employed (sole). I am about to open a new IRA account (Self Employed IRA), but not sure which one would be optimal for my situation (SEP, Solo 401(k) or SIMPLE IRA). Here is one major va… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,724 satisfied customers
We set up a two-member (spouses only) Self- Employed
We set up a two-member (spouses only) Self- Employed Retirement Plan with Fidelity and were told that our personal contribution to the Plan can be 24,000 per person (we both are above 50 years of age)… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
40,873 satisfied customers
Lane, if I am both self employed and employed (both a
Hi Lane, if I am both self employed and employed (both a schedule A and C), what determines how much I can elect to defer to a solo 401K (from the perspective of both an employee and the employer, bot… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,724 satisfied customers
I am self-employed and have set-up a 401-K. I currently have
I am self-employed and have set-up a 401-K. I currently have small loan against it. I am allowed to borrow up to 50% of the 401-K asset value. I have $15,000 that I was going to use to pay down a seco… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,724 satisfied customers
I have a full time job. Gross 125k/yr. 54 years old. They have
I have a full time job. Gross 125k/yr. 54 years old. They have simple IRA at job. In 2016 I will contribute 15,340. They will add employer match of 3,744. I also have a sole proprietorship. I will gro… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
40,873 satisfied customers
I have a client who are husband and wife. the husband has an
I have a client who are husband and wife. the husband has an incorporated realty trust and the wife has a business that is a sole proprietorship. my understanding is that they can contribute $24k each… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
40,873 satisfied customers
How can I maximize tax savings for 2013 . Husband pays into
How can I maximize tax savings for 2013 . Husband pays into 401K I don't qualify for 401 K so I will contribute to Traditional IRA account for the year . What else can we do to lower tax liability at … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,724 satisfied customers
I'm a sole proprietor in MN. I do freelance advertising work,
I'm a sole proprietor in MN. I do freelance advertising work, just myself, no employees. I earned most of my money through 1099's and some through a W-2, even though I was just freelancing there. I wa… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,724 satisfied customers
I own a LLC (with my wife, split 40-60). LLC had a net profit
I own a LLC (with my wife, split 40-60). LLC had a net profit will report self-employment income on K-1 for both myself and my wife. Both of us also had W2 income made 401k contributions on W2 employe… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,724 satisfied customers
I had asked a question previously when a SEP IRA was used,
I had asked a question previously when a SEP IRA was used, however, I have a different twist to a different type of plan. Again this is a muti-member LLC filing as a partnership. The partners are a hu… read more
PDtax
PDtax
Owner
Master's Degree
6,449 satisfied customers
I am an educator and I also have my own consulting ...
I am an educator and I also have my own consulting business. I went back to school to work on my doctorates. I have too much income to receive the hope credit, but shouldn''t I be able to write off al… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 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

6,039 satisfied customers

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

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

838 satisfied customers

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

Loren

Loren

Attorney

741 satisfied customers

Over 25 years practicing law

Robin D.

Robin D.

Senior Tax Advisor 4

23,416 satisfied customers

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

Megan C

Megan C

Certified Public Accountant (CPA)

8,667 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

< 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