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What Is The Maximum Amount A Grandparent Can Gift To The Grandchild's 529 College Saving Fund?
User Photo Dean Marzullo
Tax Professional Level: Tax Enthusiast

Line B. Qualified Tuition Programs (529 Plans or Programs) If in 2014, you contributed more than $14,000 to a Qualified Tuition Plan (QTP) on behalf of any one person, you may elect to treat up to $70,000 of...   Read More
0 0 529 Plan
I Have A Malaysian Retirement Svgs Ac. In Late 2013, I Withdrew $180k And Transferred Some $90k To Pay For My Son's College Tuition.
User Photo Dean Marzullo
Tax Professional Level: Tax Enthusiast

Who Must File an FBAR United States persons are required to file an FBAR if: the United States person had a financial interest in or signature authority over at least one financial account located outside of the...   Read More
What Is The Status Of The MN Court Case That Provided That The Section 382 Limitation Should Be Calculated On A Pre-apportionment Basis?
User Photo Dean Marzullo
Tax Professional Level: Tax Enthusiast

290.191 APPORTIONMENT OF NET INCOME. Subdivision 1.General rule. (a) Except as otherwise provided in section 290.17, subdivision 5, the net income from a trade or business carried on partly within and partly...   Read More
Is A Canadian Resident/citizen With No Physical Presence In The US Liable For US Income Taxes?
User Photo Dean Marzullo
Tax Professional Level: Tax Enthusiast

Income is derived from US Source - file a 1040NR   Read More
I Purchased A 34' Sailboat (part Of A Fleet). I Have Heard Something About Maritime Tax. Is That Something To Be Concerned With? What Is It?
User Photo Dean Marzullo
Tax Professional Level: Tax Enthusiast

State tax laws do not explicitly refer to “the maritime industry.” Thus, this report lists the state and local taxes that could apply to vessels, boats, and marine-related businesses and activities, as well as...   Read More
What Is PAYE And When Is It Payable To The Internal Revenue Commission? State The Penalties For Not Complying With The Stipulated...
User Photo Dean Marzullo
Tax Professional Level: Tax Enthusiast

This relates to student loans...When an employer withholds taxes from an employee's pay to make "pay-as-you-earn" contributions to the IRS, the amount withheld reflects some of the deductions that the employee will...   Read More
0 0 PAYE Tax
Is There An AMT Consideration For An Unrealized ESPP 423(c) That Is Shown On A Form 3922?.
User Photo Dean Marzullo
Tax Professional Level: Tax Enthusiast

Here is the answer: Line 14—Exercise of Incentive Stock Options For the regular tax, no income is recognized when an incentive stock option (ISO), as defined in section 422(b), is exercised. However, this...   Read More
Is An 83(b) Election Applicable Only To Natural Persons?
User Photo Dean Marzullo
Tax Professional Level: Tax Enthusiast

As a general rule, section 83 requires a person (which is not necessarily a natural person) performing services to include in income the amount that the fair market value of the property received exceeds the amount...   Read More
For Same-sex Couples That Got Married During 2013: Before, Due To DOMA, There Was A (taxable) "Imputed Income" Line For Non-cash...
User Photo Dean Marzullo
Tax Professional Level: Tax Enthusiast

The employer can refund the all taxes to you if they were improperly withheld on the "imputed income." If a W-2 was issued and it needs to be corrected, then the employer has to issue a "Corrected W-2." You would...   Read More
I Work For A Construction Company, A Large Portion Of Our "employees" Are Paid Cash And Taxes Are Not Taken Out. Now That The...
User Photo Dean Marzullo
Tax Professional Level: Tax Enthusiast

They can go to the state labor board or whatever the agency is named that handles employee issues such as wages and request a classification to determine if they, indeed, are employees. If they are determined to...   Read More

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