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  You are here:  AllExperts > Business > Corporate Law > Tax Law (Questions About Taxes)

Expert Profile: John Stancil, CPA

Expertise:  I can answer questions on personal income taxes, partnerships, and some corporate income taxes. Kentucky state income tax also. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I teach tax and accounting at a small church-related college. I have maintained a part time tax practice for over 30 years. I am a member of the AICPA, National Society of Tax Professionals, and the Institute of Management Accountants.
I hold a doctorate in Accounting, and four professional certifications: CPA, CMA, CFM, and CIA. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I write a monthly tax column for the local newspaper.

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What do you like about this subject?  I enjoy the dynamic nature of taxation, and the fact that it is always changing. I also enjoy helping citizens minimize their taxes, so they only have to pay the legally required minimum amount.
Awards & High Honors 
Volunteer Expert of the Month, 3/2000
Something interesting about this subject that others may not know:  It was not until WWII that the income tax became a mass tax. Prior to that time, only the very wealthy paid income taxes.
What do you still hope to achieve/learn in this field?  One can never know all the tax law, so I hope to increase what I do know, and keep up with relevant changes in the law.
Average Ratings
Prestige Points: 144278
Knowledge   9.95   Best of the best
Clarity of Response   9.89   Best of the best
Timeliness   10.0   Best of the best
Politeness   10.0   Best of the best
Number Of Questions
(in Past 24 Hours)
0
Max Questions to be Asked
(in 24 Hour period)
100
Total Questions
(since joining AllExperts)
15347
Recent Reviews from Users
KnowlClarityTimePolitenessDate
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User Comments
Thank you so much. You are kind and helpful. Paula
(Paula on 07/24/08)
Thank you ever so much! This answers my question exactly - and thanks, again, for the promptness!!
(Cheryle on 07/23/08)
Thank you very much for the confirmation
(cindy on 07/23/08)
Thank you for the speedy response.
(Don on 07/23/08)
Thank you!
(Jay on 07/23/08)
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Recent Answers from John Stancil, CPA
2008-07-23  Foreign exchange students Carol, Thanks for your question. If the student 1)lives in your home under a written agreement between you and a qualified organization as a part of a program to provide educational opportunities...
2008-07-23  Reimbursement checking account for gas Cheryle, Thanks for your question. Such a system is legal, but not very smart. This type of plan is known as a non-accountable plan. Under these plans, reimbursements are taxable income but you...
2008-07-23  vacation payout Cindy, Thanks for your question. As a matter of fact, there is such a law. IRS regulations require that the employer use one of two methods for supplemental income payments. Your payment falls...
2008-07-22  Partnership w-2 don, Thanks for your question. No, that is not allowed by the IRS. As a partner, you cannot be an employee. You receive a K-1 at the end of the year and pay self-employment taxes on your share...
2008-07-22  emminent domain, right of way payment with retained ownership Allen, Thanks for your question. Yes, as you are selling property rights, the sales is taxable, at capital gain rates. You may be able to allocate some basis to the sale, as this definitely lowers...
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