Tax Planning: U.S.

Recent Answers

2010-02-09 Tax Law (Questions About Taxes) - Claiming a Relative:

Glenn, Thanks for your question. No, you cannot claim her as a dependent, primarily because she is not a U. S. resident or citizen. Additionally, she must live in your household for at least half

2010-02-09 Tax Law (Questions About Taxes) - IRA:

John, Thanks for your question. If the W-2 shows wages in Box 1, that is considered earned income and qualifies you for an IRA up to the statutory limits for IRA's but not greater than your earned

2010-02-09 Nonprofit Law - Non Profit, W-9 form:

The W-9 form with instructions is at: www.irs.gov/pub/irs-pdf/fw9.pdf and, on the right column of page 1 you see that, for certain purposes, the taxpayer (merchant) may require your organizations EIN

2010-02-09 Tax Law (Questions About Taxes) - 1099-credit card forgiveness:

Kim: I am assuming that you and he files a joint return. I am also assuming that the credit card company gives you a 1099 for you to count as income the balance that they write off. Personally I do

2010-02-08 Nonprofit Law - 501(c)3 borrowing money from an individual:

There is no inurement issue as long as the interest is not higher than could be obtained from another source. I am assuming that the lender is not a corporate insider or related to a corporate insider