Hello, client had substantial loss due to flooding that was not a federally declared disaster. Can this be claimed as a casualty loss or does it have to be a fe... read more
S Corp stared 2017. Never filed. Long Story. Cannabis.Expenses in 2018 and 2019. Large, 500K NOL is projectedA CPA colleague suggested filing an Initial and Fin... read more
My client a restaurant owner, received audit notice from CDTFA , with the notice they asked him to sign a "WAIVER OF LIMITATIONS" indicating that:A Waiver of Li... read more
Hi, client received a CP2000 and all the differences were regarding form 8958 community property allocation. This was e-filed with the return, at least I see it... read more
Are city rebates for home improvements taxable? Client received a 1099 from the city. Seems to me the rebate should reduce the amount of the improvement added t... read more
I have a client whose 1095-A had column A completed and 0 for column B & C. I went online and calculated the proper amount to enter in Column B and put 0 in col... read more
Hi allAnyone have experience filing a form 3k-1 in MA. The form is attached to the K1 and noted as "for informational purposes only must be electronically filed... read more
Hi allMy client has only 1099 income om $200k, and wants to claim $36k for a personal assistant. Any issue entering this $36k as contract labor? No 1099 was iss... read more
I have done some research and are still not getting a clear answer. I'd love some help with this question... I have a client who passed in January, 2024 who had... read more
I have a small grocery store client that has suffered losses for three years. Fiscal YE = 9/30/24. I don't think any tax analysis is needed as they won't need t... read more
How long should I keep electronic client records? Also, within ProSeries, a number of prior 1099 & W-2 prepared form(s) from prior years remain on the record ev... read more
Is the accrued market discount recognized for tax purposes on schedule B after showing an adjustment to the gain on the form 8949 tax exempt from Iowa as intere... read more
Facts: Son, mother and father are all owners in a home. The son lives in the home, but the parents do not. The son wants to sell the home.Question: If the paren... read more
