My wife and I purchased a second home outright for our son and daughter and new grandchild to live in.

A couple refinements to the last answer: First, you understand that once you make this transfer this is no longer your property and it is part of...

I ran out of W2 forms and ordered more early Jan. IRS states out of stock. What can I do to issue the final 7?

The IRS/Social Security Administration has an online service that allows you to generate and file these forms. In addition, you may want to call...

In PA, okay to pay county, state & local taxes on property of unclosed estate with money from that estate?

Generally, the executor of the estate must preserve and protect assets of the estate. So the payment of these expenses will prevent the house from...

So if a friend gifted a million dollars to me do i file taxes on it

At the federal level, there is a gift tax exemption of $1,000,000 and an annual donee exclusion of $13,000 for present interest gifts. So the gift...

At the federal level, there is a gift tax exemption of $1,000,000 and an annual donee exclusion of $13,000 for present interest gifts. So the gift...

Is PA Inheritance Tax due

Since your father was a resident of PA, any assets of his estate are taxable for PA inheritance tax (PIT) purposes. Under PA law, the portion of...

I received 1099-m's from some clients. How do I handle as a SP - when amts received are gross amounts for service before vendors

You should report this 1099 misc income and any other income from your sole proprietorship on Schedule C of the Form 1040. There you can deduct...

The only thing to add from the second attorney is to point out that you can not file "single" if you are still married. You must file "married...

Business is a Corporation, haveBusiness credit card. business closed, no money to pay credit card, who is responsible.

If you operated the company with the requisite formalities such as a separate corporate bank account, regular minutes, no other irregularities and...

How do I fugure my taxes on SSD ?

For your estimated taxes for 2010, you need to do a projection of your income for that year and then calculate the taxes based on married filing...