Does this sound non-taxable?

Refer to the following which explains the different treatment of law suits and awards. The taxability depends largely on whether the award is for...

Do I have to pay quarterly tax on estimated dividend income for an S Corp? How do I work this out?

Technically you are not self-employed if you are paying yourself wages through your corporation. If you are not self-employed then you don't have...

What can I do and how do I turn them in?

Who is the custodial parent of the children? Generally the custodial parent gets to claim the children unless the custodial parent signs Form 8332...

A CAF number is a unique nine-digit identification number and is assigned the first time you file a third party authorization (POA) with IRS. When...

Is my wife an employee or a sole proprietor? Should I beclaiming her income as a business income,or continueto claim its wages?

The IRS has guidance to help you determine whether a person is an employee or an independent contractor. You can look at publications on the topic...

For a Tax Professional to answer, what do i need to do to resolve issue

You may want to contact or visit social security office as they are the ones responsible for issuing ssn. In case it takes a while to straighten it...

Tax question regarding a new home

Closing costs are an itemized deduction. In order to be able to itemize deductions you have to exceed the standard deduction. Hence it depends on...

How will the cost basis for the stock, if sold, be calculated for tax purposes?

If you inherited stock then your basis is the fair market value at the time of the decedent's death.

She has passed away, what are the tax implications when I am sole owner/remove her name. The current value is $130,000

Technically you owned 50% of the stock at the time she made you a joint tenant. Because you did not pay for this 50% interest it would be...

She was just wondering if she has to pay anything like gifting

Gift tax is the responsibility of the donor (that is the gift giver). You and your husband can give $14,000 in 2016 to your daughter without...