In California, if a spouse receives spousal and child support, will she have to pay income taxes on that? It's her only income?

Child support is not taxable to the recipient spouse and not tax deductible by the payor spouse. Alimony on the other hand, is taxable to the...

Can a person hold a S corporation without having payroll in it. Since this S corp has a passive income to the owner personal tax

A stockholder working in his or her S corporation must draw a reasonable salary from the corporation. The determination of reasonableness, depends...

Dealership did not charge sales tax (for an out of state customer)- higher taxes now due in another state?

Generally, the state where you purchased the car should have charged you sales tax, if they have one. Otherwise, your own state will charge you...

Selected as the best answer

Income tax exemption for capital gain asset

Unfortunately, you have not lived I the house in the last two years and there won’t be exclusion. If you can live n the house for 24 out of last 60...

Confusing about Tax Filing Status

Generally, you may file the status as “married filing jointly”, and include the IRS form W-7 for the wife, and send the package to Austin, Texas,...

Should I sue H&R Block over tax owed amounting to $1,300?

As my colleagues indicated, your facts are unclear and you have been given some unsatisfactory answer to your inquiry. Consult a tax CPA or another...

For single member LLCs do we have to file separate taxes or can we put them on our personal taxes?

I concur with my learned colleagues. A single member LLC is disregarded for the IRS purpose and reported either in schedule C or E. A California...

Awarded Carry Forward Losses in Divorce, yet IRS says not timely

Consult a tax attorney, preferably with experience in advising divorce attorneys. Good luck. Zaher Fallahi, Tax Attorney, CPA.

I have a $100,000 judgement in my favor. I am 64. I want to convert that much from my IRA to a Roth. Will I owe if I do that?

Consult a tax attorney with experience in handling tax implication of settlements and awards. The judgment may be subject to the IRC Section 104...

I am helping a new faith-based non-profit organization get started, and I'm dealing with their incorporation issues.

Consult an attorney with experience in filing the IRS 1023 application. If you are an attorney, and do not have the necessary skill, which is my...