Steven Francis Schroeder's Answers (144)

Archived

Will creating an S corp benefit me if my AGI is more than 150k?

Steven's answer | Answered on October 18, 2011

I agree with the original posters as a S corporation should not benefit you with regards to the passive income generated by the rental properties. ...

Archived

How can I claim depreciation on a vacant residence?

Steven's answer | Answered on October 18, 2011

I agree with the original posters.

Archived

Can non-taxable pension be considered as income in the USA?

Steven's answer | Answered on October 18, 2011

I agree with the original poster. Whether income is taxable or non-taxable does not necessarily prohibit a landlord from considering it under the...

Archived

What are the tax implication of a permanent US resident receiving a large amount of money by wire from outside US

Steven's answer | Answered on October 18, 2011

I agree with the original poster.

Archived

Can executor sell one of two homes left to 3 beneficiaries against their wishes. No debts against home other than back taxes.

Steven's answer | Answered on October 18, 2011

This question deals more with probate issues than tax issues. You will want to post this question in the probate forums.

Archived

Which revenues do we have to calculate into our contribution calculation?

Steven's answer | Answered on October 18, 2011

I agree with the original poster. You will need to speak with either a CPA or legal firm that handles companies similar to yours as this is a...

Archived

I have a verbal agreement with my father to purchase the family home, but now he dont want to sell after i caught the taxs up!

Steven's answer | Answered on October 18, 2011

Did you file the lawsuit on your own or have help from a attorney. If you hired a attorney you need to speak with him or her.

Archived

IRS audit: Tax home issue.

Steven's answer | Answered on October 05, 2011

You may want to look at IRS Publication 463 for more guidance. Basically, expenses for transportation, meals and lodging are deductible for...

Archived

How do I handle taxes when someone else is paying my mortgage directly?

Steven's answer | Answered on October 05, 2011

I agree with the original poster. You must be the person paying the mortgage in order to claim the deduction. You will also want to have your...

Archived

Dept of revenue sales tax

Steven's answer | Answered on October 05, 2011

I am a little confused by your question. Is the $30K owed by the LLC or you personally for sales tax? Are you or the LLC filing for Chapter 7...

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