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Tax Q & A
My Husband Passed Away in 2014. How Do I File...
Hey Dave, My husband passed in February of this 2104. We have always filed a joint return. What do I need to do this year? Also, he received a sizable refund from one of the credit cards that had been canceled after his...
Can We Claim the American Opportunity Credit...
Hey Dave, I have a daughter, age 20, who is eligible for the American Opportunity Tax Credit of $2,500.00. Can she also use the Lifetime Educational Tax Credit of $4,000.00? Ralph Ralph, Sorry to say, but you have your...
Do We Need to Tell the IRS About Our Offshore...
Hey Dave, We have an off-shore account, set up in 1998 when they weren't reportable, via an Isle of Man investment company (Zurich). But now under the Foreign Account Tax Compliance Act, the accounts are reportable. Our account...
My Sister-In-Law Took the Kids Back. Which One...
Hey Dave, I took care of my three nieces and a nephew (all under 17 years of age) up until the end of last month, August 28, 2014, to be exact. I claimed these kids on my taxes last year. Can I claim them again for this year...
That Blender You Just Received From Your Bank...
Banks love to give out “freebies” to new customers for opening checking accounts and the like. Be it an apple corer or a Vitamix (OK, maybe not a Vitamix… how about an Osterizer?), who does not feel a pulsating warmth inside...
Home Equity Loan vs. Store Credit Card. Which...
Hey Dave, If I'm going to do home repairs, such as a roof and heating, which will cost about $15,000, would it be better to take out a home equity loan to pay for it or just use my Home Depot credit card, which has a big line...
What Happens If I Make a Mistake On My Taxes?
If you made an inadvertent mistake on your taxes or omitted required information, such as a late-received W-2 or K-1, you can file an amended tax return on Form 1040X. Generally, if you find a mistake before the IRS does, you...
Do Our Armed Forces Adhere to a Different Set...
If you are a member of the U.S. Armed Forces, there are tax breaks written just for you. These breaks apply to all regular and reserve units controlled by the Secretary of Defense. Merchant Mariners and American Red Cross...
We Are Contractors. How Do We Report Our Income?
Aloha Dave, We have a question: we have been asked to build some basic boxes to be used as a stage for a company. They plan to pay us but are not placing us on their payroll as employees. When we declare the income for taxes...
Displaying results 19-27 (of 41)
Tax Q & A