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My Tax Lady Submitted The Incorrect Credit Union And Routing Number For Return Deposit Of My State And Federal Income Tax......how Can I...
User Photo Gerald Nordland
Tax Professional Level: Tax Enthusiast

The IRS will make ONE attempt to directly deposit your refund. If you’re lucky, no one at that bank will have that account number, the bank will reject the deposit and the IRS will send a check to your address....   Read More
Form 2106- Employee Out Of Town Travel Expenses(construction Workers)on Temporary Jobs, Less Than 1 Year In Duration.Can He Use...
User Photo Gerald Nordland
Tax Professional Level: Tax Enthusiast

You need to remember that Depreciation is a BUSINESS expense for the investment needed to generate revenue, NOT a Personal expense. If his brother bought the trailer and rented it to him, the brother could deduct...   Read More
Has There Been Any Legislation Presented To Change The Tax Code In Order To Eliminate The Marriage Penalty?
User Photo Gerald Nordland
Tax Professional Level: Tax Enthusiast

The marriage penalty was eliminated by the EGTRRA tax law in 2001 but persists as a constant 'issue.' For most people it is a non-issue. If both you and your spouse are high earners and the total of your incomes...   Read More
Generally Speaking.......how Is An Irrevocable Trust Taxed? Or Is It Very Complex? Thank You,
User Photo Gerald Nordland
Tax Professional Level: Tax Enthusiast

The taxation is determined by the TYPE of Trust (Simple or Complex) rather than whether it can be changed (Revocable) or not (Irrevocable). A Simple trust distributes ALL income to the beneficiaries who pay tax on...   Read More
My Wife And I Filed Our Federal Tax Return Married But Separately. I Need To File Kentucky Part Time Resident.my Question Is Can We File...
User Photo Gerald Nordland
Tax Professional Level: Tax Enthusiast

Kentucky allows the state filing status to be different than the Federal filing status. Check your other state requirements.   Read More
I Am A Real Estate Agent In California. Should I File My Taxes Using A Schedule C Or Create A Corporation?
User Photo Gerald Nordland
Tax Professional Level: Tax Enthusiast

If you file a Schedule C, all your profit will be subject to Self Employment taxes (which is really Social Security and Medicare taxes). If you expect to draw SS benefits, you must have 40 quarters of payment in...   Read More
We Completely Renovated A Home And Installed Solar Panels, Insulation, Doors, New Roof, Furnace, Water Heaters, Pumps, Windows, Water...
User Photo Gerald Nordland
Tax Professional Level: Tax Enthusiast

Was this home your principal residence? If so, your combined structural credits are limited to $500 and the solar credit is 30%. Only the solar credit applies to second homes and new construction. None of them...   Read More

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