I have a client with a new business who filed an 1120-S last year and has asked me to handle the tax prep this year. I found an article titled "Preparing a S Co... read more
New client has a rental property that was an Airbnb. The city ordinance no longer allows property to be rented as an Airbnb.The property became a long term rent... read more
Well Ugh, and Double-Ugh!Client came to me last month admitting that they were behind from 2022 because the highly recommended tax lady they were using kept mak... read more
Hi,I have two clients who do business in California as non-residents, and I keep trying to electronically file their estimated taxes. However, it keeps rejectin... read more
The owner of a condo had no damage to their condo in a federally declared disaster area (DR-4834). The condo grounds were damaged. The HOA had a special assessm... read more
It is my understanding that leased vehicles over 6000 lbs can take a Sec. 179 - limit of $30,500 but cannot take depreciation if using actual expenses which inc... read more
Illinois taxpayer received aGrantor Tax Information Letter instead of forms but I've been able to fill out every in his tax and last part says:STATE TAX INFORMA... read more
#! Form 8615 should be attached to the return even if unearned income is under $2,600. The form is not printing with return and if I print it, the childs name a... read more
Hello All:When is a schedule E loss not deductible. I don't do a lot of returns with rental properties. I set up a new rental property for a client, it calculat... read more
Hello All:I have not used an e signature yet this tax season. Tried to use my first one today. It seemed easy enough to request an e signature, then I got to a ... read more
Client purchased a soda vending machine business for $10,000. How is this accounted for on the tax return? Is is just not recognized until the business is sold ... read more
Working on an S-corp. That the primary business is rental properties. They have purchased some heavy equipment for the corporation when I set it up on depreciat... read more
I have a limited partner in a partnership with ordinary income box 1 equal to se income box 14a on the k-1. Down below in box 13 is a sizable Sec 754 depreciati... read more
I need help with Pro Series. I have a couple whose husband is active in the military. They both live in Alabama. I file jointly for them this year. The husband ... read more
