In regards to selling a home, will 2014 have new tax laws that will be in addition to current 2013 tax laws?

The only way to determine the tax hit is to run a tax return using your actual facts for this year including that sale. If you do your own taxes,...

Retirement Asset distribution

Ms. Goldsmith has given you the technically correct answer. You should hire her to help you.

Rental income split in California rental

Mr. Davidoff has given you a superb, scholarly answer. He is both a CPA and attorney. You should call and hire him.

Can I claim interest, taxes and home improvement expenses on both primary and second home or just primary on my tax deductions?

You can deduct interest on the mortgage on your principal residence up to the $1.1 million limit. You cannot deduct home improvement expenses. ...

Tax!

You are seeking financial advice, and this is not a forum for that. This is a forum for legal advice. I suspect that if we knew where you could...

Partnership tax allocations. I have a partnership and invest and hold real estate. I established utilities on a rental property

It is not a great idea to have the utilities in your name if the property is in the name of the partnership. However, if that was required by the...

Joint tax filing while getting divorced

Ms. Campbell and Mr. Kulerski have given you superb answers. Have your family law attorney get the answer either from your spouse's attorney...

How do I estimate CA LLC taxes?

The minimum franchise tax of $800 is good until the gross receipts get to $250,000. At that point there is an additional $900 tax. It increases...

No, you state and federal returns need not be identical because the rules, at least as to deductions, are slightly different. However, the rules...

A friend of mine borrowed about $20,000 a few years back and never returned. Is there a way to show it a loss in personal taxes?

Mr. Davidoff has given you excellent advice. Why don't you call and hire him? In short, you may be able to deduct this.