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John Dundon, II EATax Professional Level: Tax Wizard
IRS Form 4562 found here -> http://www.irs.gov/pub/irs-pdf/f4562.pdf Instructions found here -> http://www.irs.gov/pub/irs-pdf/i4562.pdf Also check out IRS Publication 946 on how to depreciate property found... Read More
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Kathryn MorganTax Professional Level: Master Tax Advisor
Go to IRS.gov and in the search box type "tax treaty" and the name of the country. This should bring up both the treaty and technical analysis. Read the technical analysis first. Read More
William KeatsTax Professional Level: Master Tax Advisor
A 1031 Tax-Deferred Exchange (TDF) is the exchange of one type of business or investment property for a like-kind of business or investment property. It cannot include property for sale to customers or property... Read More
William KeatsTax Professional Level: Master Tax Advisor
In a sale of the property, any gain on the sale would be taxed. In an exchange, the tax is deferred until such time the acquired property is sold. Read More
Telemika GreeneTax Professional Level: Tax Enthusiast
Earned income Tax credit is a refundable federal income tax credit for low to moderate income working individuals and families. Individuals may receive refunds more than what was withheld in federal with holding... Read More
William KeatsTax Professional Level: Master Tax Advisor
This is more of a legal determination and does require the services of a lawyer, one who will tell you the pros and cons between a revocable trust and an irrevocable (inter vivos) trust. However, the inter vivos... Read More
William KeatsTax Professional Level: Master Tax Advisor
The capital gains tax rate is increased to 20% for 2013. The prior year was 15%. As far as the home is concerned, if you sell or plan to sell this year, and you file a joint return, the first $500,000 of profit... Read More
John Dundon, II EATax Professional Level: Tax Wizard
It depends on how long ago the 'other spouse' sold the first house but generally no. Read More
John Dundon, II EATax Professional Level: Tax Wizard
This is a loaded question for sure. Your primary residence is in Michigan. You are self employed and travel outside of Michigan regularly and consistently - sometimes to the same area - should you rent an... Read More
Trenna MorrisTax Professional Level: Tax Enthusiast
Penalty Relief for Delayed 2012 Forms can be found at this web address: http://www.irs.gov/pub/irs-drop/n-13-24.pdf Here is the list of delayed 2012 forms: EXHIBIT 1 – Delayed 2012 forms (available in... Read More
