I have a new client that is a sole proprietor who sells art. She works out of a stand-alone studio on the family property owned by her and her husband. They put... read more
Vehicle was purchased 8 years ago. In year 9 the car was partially (48%) used for business. Years 1-8 had no business use. Standard mileage rate was used in yea... read more
Hello,Can someone help answer a question I have regarding the number of years a trader can carry back NOL after making "mark to market election.1. How many year... read more
His Intuit shares are up $15 this morning. @Jim-from-Ohiocould slow down, slack off on a few appointments this afternoon, and still finish the day with more tha... read more
One of my clients asked me to "do his taxes right" for him because his past tax preparer has been filing a Schedule C instead of an 1120 he is worried that he ... read more
Hi, looking for some guidance from someone who has claimed disaster losses before. Client had house damage post hurricane Ian in FL (2022). He paid out of pocke... read more
In 29 pages, he concludes: "In our opinion, the Maryland courts would most likely hold that a CPA may, without violating the prohibition on unauthorized practic... read more
I have a new client that called me the other day for some advice. She left the US 25 years ago to live in France. She got married to a French resident and they ... read more
Individual Client already received authorization for US/CA and NC. Now adding another state WI. Screen to accept authorization shows already authorized US/CA an... read more
THE IRS SITE, CHECK MY REFUND, KEEPS SAYING THAT THE INFO DOES NOT MATCH ANY THING IN THERE DATABASE. IT SUGGESTED TO RE-EFILE THE RETURN, CAN YOU ACTUALLLY DO ... read more
Hi, client is a greencard holder and lived outside of the US the whole year in 2023. If I read the guidance correctly, he can file a 1040 with worldwide income ... read more
Dear All,We researched this and couldn't find the answer.Would anybody know, if we have a company that pays all its employees heath insurance and one emplyee an... read more
Where so you put the business usage/percent for an asset that is used both for business and personal? I see the column on the depreciation schedules but I can n... read more
I've always found line 16 (adjustments) to be the most difficult part of the Foreign Tax Credit. Is an adjustment needed when there's just one category of forei... read more