Tax and general business including hospitality related (hotel mgmt degree and experience in industry prior to obtaining ms tax and cpa).
19 years cpa. ms tax. NOTE: My discussions are only a general information and do not constitute tax advise without entering into a specific agreement and executing an engagement letter; This free chat is nothing more than general information and should not be construed as tax advice nor does my response or replies imply an agreement to provide client specific advice or other guidance for purposes of avoiding IRS tax or penalties and should not be relied upon without your own validation and confirmation of the how the discussion may fit your facts... Not having all the facts and/or not having a direct client relationship prevents me from providing the most accurate replies as possible and I highly suggest using a local CPA to provide you with written advice and guidance. Taking matters into your own hands is much akin to trying to land an airplane without a license. It is easy to FLY a plane, but LANDING is when critical experience is key. In short, caveat emptor; do your homework and don't just rely on free chat board advice anywhere, anytime.
AICPA, CSCPA (Ct society), National Tax,
MS tax and other post graduate coursework
variety including Summa Cum Laude
I don't disclose or kiss and tell
|S. Wilson||12/01/16||10||10||10||Thank you so much. Helped quite a .....|
Have you been reporting the whole payment or just interest? Have you been taking depreciation? And no.. you can't deduct the cost of the loan because you should depreciate the property value over
Not really They can be long term capital loss You could take them as start up and deduct in first year but IRS might disallow as you never started business But it is worth a shot. I would put
First Sorry for your loss The gain should be in your return but if the brijerbddintbretitlenit, the 1099 will be in mom's name You should put it on her final return and make an adjustment reporting
Ps What state/city are you located? You simply file as if he was not in jail. He will get a w2 for his earnings as if he wasn't in jail. That doesn't take away your rights to file You can likely
Way above my pay grade. You are apparently trying to do more evasion. The one thing that sounds like evasion is you want to give the money to your sister for her to hold it outside the USA, but other
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