| Recent Answers from WILLIAM D MCCONNAUGHY |
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2008-08-29 Mistake on 2006 Tax Return - I owe the IRS: The answer to your question is MAYBE. I say maybe because you state that you sold insurance as a self-employed person, and received a Form 1099 reporting your income from this source. However, you...
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2008-08-14 Do I have to pay estimated taxes: With the changes indicated in the facts you stated, calculating the estimated taxes that may be due is going to be more complicated than usual for you. I suggest that a proforma tax return be prepared...
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2008-08-10 taxes: No, the inheritance of a principle sum of money is not reportable by you as income subject to taxation. However, any earnings derived from those funds once inherited by you would be subject to tax...
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2008-08-07 Income Tax / W4 , etc: Assuming that the work in Ohio will not be permanent, and that you plan to continue living permanently in Virginia, you should keep your Virginia address on file with your employer. Likewise, use the...
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2008-08-03 can a motorcycle be a business tax write off: Yes, to the extent that any tangible piece of property is put into use for the production of income it would qualify as a business tax write off. However, if this asset is also being used for personal...
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