Brendan L.
Tax question: first time homebuyer exception for IRA
Ok, so here is the order of events:Before the end of last tax year, made a 5.5k after-tax contribution to an IRA. Did not file for the deduction on that money. Withdrew the 5.5k from the IRA to help with closing on fi...
Yi Chu
How to file tax if there is no business activity
We set up an LLC in Q4 2023, so there was no business activity last year. How should I file federal and state (North Carolina) tax return?
Abhijit Roy choudhury
FINCEN requires Beneficial Ownership Information filing JANUARY 1, 2025
Financial Crime enforcement Network, requires reporting of Beneficial Ownership Information filing by 01/01/2025.
Does this apply to us, Rental LLC owners. What about Not-for-profit HOA's.
Anyone heard of this? Seem...
Natalie Smith
K-1 forms from iFunding
Anyone have any success getting K-1 forms from iFunding this year?I haven't received any communication from them and hoped someone else had.Thanks.--Natalie
Burt L.
What Company To Contact To Issue 1099 For My S Corporation by February 28?
For 1099s issued to yourself for your compensation of an S corp, one has until the end of February instead of the end of January. I saw an ad at BP for processing 1099s but missed who the vendor was. I also called a l...
Karissa Sampson
Urgent help with partnership tax transcript-closing in 3 days.
Underwriting is being difficult. I close in 3 days and they want an IRS Transcript for a partnership return. I cannot find this on the IRS website. Since a partnership is a pass thru entity, is the K1 showing profit/l...
Hyeseong Park
Recording phone call is illegal in PA but
Hi all, I've done 2 flips so far, and I have a question which might be related with law-side about doing business with handymans.I recently finished one flip with my handyman and he delayed kind of every time for each...
Stephen N.
Questions about utilizing the $8k first time homebuyer credit
1. Is the $8k credit available for bond for deed transactions
2. Is it possible for me as a seller to set it up to where the $8k credit is used for down payment? I'm thinking of requiring Buyer to amend 2008 retur...
Nathan Darcy
tenant does not leave property after lease expiration
We have a tenant on a month to month lease that we had given a 60 day notice of lease termination letter to (text, email, and certified mail for delivery). The tenant is still in the property after the 60 day deadline...
Harry Williams
Redemption in Alabama
Hi, On a Tax Deed property purchased from State of Alabama, if I want the previous owner to redeem do I need to file Ejection Lawsuit prior to his redemption? ?If yes, then within what time frame??Thanks...