Income tax filing

Legally he could file married filing sedately (MFS). Generally, MFS may not be tax advantageous status. Your divorce attorney may counsel both of...

Do I need to amend my Delaware entity's tax return 2014 and 2015 to change the address to be my Delaware address?

I just answer this question in a separate section. The information presented herein is for general purposes only. It is not intended to, and may...

Documentation required for an international wire gift

You could obtain a letter from the foreign donor, describing the gift and may be the reason (if not first degree family member) and perfectly...

How to report gifts to clients that were grossed up in 1099 form

Bonus is a compensation and subject to all applicable taxes. There is nothing you should do differently on the 1099.Miscellanous. You may have a...

In a community property state like California, W-2 income is a community property and owned 50% by each spouse, unless there is a pre-nuptial...

Do I need to amend my Delaware entity's tax return 2014 and 2015 to change the address to be my Delaware address?

Unfortunately, I see your situation happens often, primarily because people start practicing law and tax without obtaining professional advice....

Is a health insurance scholarship received as part of a teaching assistantship subject to self-employment tax?

Generally, insurance premiums paid through employment is not taxable for SE or income.

What will my penalties and or taxes be when withdrawing money from a 401(k)

Generally, based on your facts (no penalties), you may have to pay regular Federal tax only since you have no state income tax in Texas. The...

Can I endorse his name on our refund check from the Federal Income Tax?

Generally, the bank may not pay it if you sign your name only, and you should not sign for him unless authored to do so. Ask the bank what they...

On what basis is my profit taxed?

I just assisted a client on the same matter. He gets about $45K back, and will receive a 1099 for $500K ordinary income, not capital gains. Consult...