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2017-03-27 Tax Law (Questions About Taxes) - Excess 529 distribution:

Jay,    Thanks for your question.    She does not have to file a tax return, as her income is under the threshold for filing.     I am not an expert on NJ tax, but I assume the same would apply, as state

2017-03-20 Tax Law (Questions About Taxes) - Housing allowance.:

Randy,    Thanks for your question.     If you are ordained, your housing allowance is limited to actual amounts spent for housing or the fair market rental value. It must be designated in advance by n

2017-03-19 Tax Law (Questions About Taxes) - Earned Income Credit:

Jeff,    I wouldn't say it disqualifies her, but one of the due diligence requirements askscif income is sufficient to support her. You would have to answer that with a no, and explain the answer. Could

2017-03-19 Auditing - Cash From Trust:

Lisa,  You are probably over thinking this. Unless you make lots (20-100) transactions over $10k you will not be noticed. I would file your taxes as you usually do, the IRS will notify you if they have

2017-03-18 Tax Law (Questions About Taxes) - Partnership K-1:

Frank,    Thanks for your question.     There is a simple answer with a complex solution. The K-1 should be issued to your IRA, not to you. The IRA is a separate tax entity.    If the IRA had earning in

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