Your Personal Accountants

Pelican  said... I held options (granted several years back through an incentive plan, all vested) with a private company of which I was an...

shawn  said... Question on American Opportunities tax credit. I learned from a friend a means of taking the credit even though my sons scho...

kimbrovideo  said... Dear Accountant, I am a self-employed filmmaker who rents video gear to production companies. I am set up as a sole-p...

MetalSmitten  said... Hi, I started a mainly online business selling handmade jewelry and did better than I expected. This is currently my ...

Your Personal Accountants: Ask The Accountant : "Carolee1945 said... I am doing my parents taxes. My dad died in 2009. We have a surviv...

Fred  said... This a question on civil law in Massachusetts. I have a court judgment against a home improvement contractor for approximatel...

Calrageous said... Hello, I run my own small business and I've grown considerably this last year. I've just switched over to qu...

Jennifer said... Questions Regarding Payroll Taxes: My employer refuses to be out-of- pocket his portion of payroll taxes (social, m...

JessiKo said... I am thinking about purchasing a house and wanted to use money from a foreign account. What are the pros and cons of doi...

A. said... I have a pretty complicated scenario, and I'm hoping you can help! I bought a house in Sept. 2009 and filed an amended 2...

Michael said... Hi, I have a question. I have a student loan that I took out in Jan, 2004. The total loan amt. was 16,205.00. If the mo...

M said... I have a SEP IRA through my employer. We just transitioned to a 401K this month. Instead of rolling my SEP IRA into my 401K, I...

Diana said... I am not sure if this is where to ask this question. In a janitorial business I have soap dispensers that I sell. I do not...

DogsBody said... Hi there, I am planning to undertake Post Graduate study overseas and as such I don't qualify for a student loan....

Your Personal Accountants: Question regarding forensic accounting.

Chelseaa! said... I have a couple of questions regarding forensic accounting that I was wondering if you could answer. How would you de...

rollotom said... Can you recommend a way to get realistic practice on the month end closing process? My lack of experience in this area ...

jrhodenphotography said... We are looking to buy a home - my grandparents are loaning us th money and both their name and ours will be o...

Rebeca said... Hello. I would like to know if there is a way to pay my credit cards with money I receive on stocks I sell without having...

Jeffrey said... Dear Mr. Asraf, I have a super-specific tax question that I haven't been able to answer: A first-time homebuyer c...

bob said... Rental Property Question: I have a C Corp and would like to rent out my 2nd home to my C Corp. From what I have read this seems...

Jen said... Hello, This is a great service! I hope this is the right way to post a question. I have a question about 401(k) early withdra...

Paul said... Good Morning Mr. Asraf. I helping my son with his books. He earns wages in one job and starting studio from 0. I use quicken...

stevea1 said... I live rent-free in a house owned by my parents, am I subject to inputed income taxes?

ajmccrimmon said... In a self employment business, is it more beneficial to set up dividends or owners withdrawals and how do we report t...

Dear Lauren, thank you very much for visitng our blog. Your organization as a non profit is responsible to maintain complete details of th...

DroopyDog said... I live in Missouri, I have sold a boat and I am buying a replacement boat. I have a couple of questions. First, am I able...

ct said... SCENARIO: RECEIVED A LETTER FROM THE IRS STATING IF I FILED MY CHILDREN I WOULD BE FINED ETC. SINGLE PARENT DID NOT HAVE SS #S F...

Dear Readers, if you find out blog interesting and if we have helped you in anyways, then please take a min and write your experiences. Your...

Emily said... Hi! I have a question regarded credit cards and credit score. My credit score is in the mid 700's right now and I really ...

justalibragirl said... I have questions about irrevocable trusts and special needs trusts. This is regarding a settlement from a lawsuit...

Dear cashnow, the money received from Toyota is not income to you. Therefore not taxable. You simply are receiving a refund of purchase retu...

Dear Readers, please submit your question on this blog by clicking on the "Comments" link, which is located at the bottom of each ...

I found your blog and wasn't sure how to go about asking a question on there. Here's my question: I am a single mom w/ 2 kids a...

I found you through your blog, but could not figure out how to post my question there. I am changing out furniture that has long since bee...

Dear reader, thank you for visiting our blog. We structured our corporation last year as Web Tax Office . We thankfully had a very good year...

Cristina said... I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know w...

Dear Ashish, thank you very much for posting on my blog. Every business has some uniqueness, and yet at the same time they have some similar...

Dear Suresh, thank you for posting on my blog. You have incorported your business and also got your first client on contract basis, CONGRATU...

Hugh, if you are a resident of NY and are also a student you do qualify for a education credit. However, your credit may be limited dependin...

Rick, thanks for posting your question on my blog. Before deciding which state forms and or state returns you would need to file, find out w...

Dear Visitor, Did you acquire the stocks you sold from your company in an ISO i.e. incentive stock options? If your answer is yes then most ...

Yes, the profits and losses should be allocated between all three partners. In your case, the profits or losses would be allocated between t...

Dear Ananomous, The answer to your question depends on whether you had the following: Were you a NC resident? Whether you had Nexus in NC Wh...

First, go over this checklist. Did you file 2553 in the year 2005 or earlier? If you filed it, did you receive an approval from the IRS? If ...

Nicole, you have two different scenerios. One you have to claim the earnings and the expenses related to you message therapist business on S...

Good morning Joe, You did quite a bit of research. Your research is absolutely correct and also most of your assumptions. I will try to make...

Good morning Joe, thank you very much for posting on my blog. Regarding your first question you can claim Hope credit for first two years of...

Jeff, I am sorry to hear that you went out of business. I am trying to answer here based on the information you have provided however, I wou...

Eric, I am in a professional environment. I always deal with individuals making lots more than $95,000 a year. You can start a business, you...