The IRS rule is that the custodial parent claims the qualifying child as a dependent. For the noncustodial parent to claim the child as a...

Generally speaking - yes. The IRS has agreements with many states that will allow the state to capture your tax refund if you owe the state money....

Gross income includes all income, including online poker winnings. Your gambling winnings would typically be reported on 1040, Schedule 1, line 8...

There is a lot going on here. I would suggest you sit down with a tax lawyer that is familiar with partnership tax. First - there is no statute...

I'm not able to opine on NY aspects. Generally, the IRS would consider anything that enhances value to be a capital improvement. Adding the hatch...

When you borrow money, you do not pay income tax on the borrowed amount. If you don't pay it back, then you have COD or cancellation of debt...

There is no one answer to each of your questions. The tax laws say that the custodial parent gets to claim the child(ren) as a dependent(s). The...

I am not completely clear on your question. First, if a company car is provided they company may allow limited personal use of the vehicle. That...

Congratulations on paying off your mobile home. That is a great accomplishment, and I understand that you want to protect it. However,...

The custodial parent is the parent that gets to claim the child as the dependent. The custodial parent is the parent with whom the child spends...