Other financial discussions

I recently changed jobs in August 2020.  I previously had an HDHP health insurance plan with HSA, and I want to know if I can switch health insurance to a non-HDHP and contribute to a standard FSA for the remainder of the year.  I'm looking at IRS Pub 969 and having trouble finding any information on this scenario, particularly whether there are potential tax penalties.  Thank you.

Hey everyone!I'm not sure if this is the right place to ask this kind of question so please forgive me if not. I live in AZ and am planning to buy a car private party in CA. Here in AZ, we don't get charged sales tax on private party car purchases.So my question is this: if I'm going to fly out to Cali to buy this car from an individual, since I live in AZ and will register it in AZ, do I need to pay sales tax to anyone or am I good to go without sales taxes? I'll be driving the car home.Thanks!

I e-filed my 2019 taxes through Intuit even though, for the last few years, I've been basically retired and only make about $1000-$2000 per year, cash and don't normally file. As of Sept 20 2020, I'm still get "Payment status unavailable" from the IRS website. Should I be concerned?

Hi so I’m looking for some insight on the stimulus check. I’m 19. For my 2019 taxes, I was claimed as a dependent by my parents and I was a college student. So I didn’t receive a check for that reason. But, I was pregnant, and had my baby in August of this year. So, for my 2020 return I will be claiming my child and filing as an independent. I’ll also be filing as single. My question here is, when I file my 2020 taxes and I put that I have a dependent and that I’m an independent, will I automatically qualify to receive both or one of the $500 for my child or the $1200 since I’m filing as an independent for this year? Will I receive this on top of my regular tax return/will this effect how much of my regular tax return I get back?

I would like to deposit a single sum retirement benefit into a DBA (Doing Business As) bank account. Is there any tax difference from depositing this check into my personal account? It will be on the Schedule C and then all personal & DBA income will be taxed on the 1040 as ordinary income. Am I missing anything? (I was born after 1936 and the amount is less then $10K.)

We have two homes and due COVID we have spent the majority of 2020 in our second home which is in a neighboring state.  We work virtually and kids go to public school virtually.  Can I vote in the state of my second home even though my kids attend public school for our other residency.  Both houses are paid in full and in high tax town so pay our fair share.  Just want a say in the government of our second home as have never had one and this year we spent almost the entire time here.

In our first Community Chatter installment, we shared some of our work from home hacks, and this week we are conducting tours of our workspaces!     With so much to juggle, it's more important than ever to have a dedicated work space that is relatively free from distractions, so that you can focus and be productive. It's even better if your space is comfortable and quiet, but as this year has shown time and again, sometimes it's all about being adaptable and using what you have to create what you need.     There is no "one true way" to set up your work from home space. Someone who lives alone in a studio apartment will have different challenges than the mother of four living in a 3 bedroom house.  As you'll see below (and on the QuickBooks and Intuit Accountants communities) our workspaces vary as much as we do!   Join the conversation and share your workspace   ++++++   “Spending a lot of time at home over the last six months has given me

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I have a client whose 2018 taxes were filed as married filing jointly. The spouse's taxes and info was not used in that year. The spouse's individual taxes are too complicated  to simply file an amendment now. What should I advise the client?

I am trying to refinance our house but they are requiring me to get an audited profit and loss statement form Jan-July 2020. I prepare our own taxes using Turbo Tax Business. I've called around to local CPA's and they wont help me unless i am an existing client. Any advice???

I am an Indian citizen working on a work visa in the USA.What are the tax implication in the USA for the following scenarios when i need to get a money from India to USA.  1) Money received from selling inherited property (From parents) 2) Money received from Parent  as a giftIn both scenario, appropriate tax is paid back in India.  3) Money which i send to Family earlier and now i am getting it back (For which i already paid tax earlier in USA)As of now i file tax return only in USA not in India.

Everyone has seen a lot of change this year, and one of the most common changes is the way our work life has shifted in response to the global pandemic.   Many companies embraced the work from home model as a way of protecting their workers, and similarly, a lot of small businesses had to shift their models to allow them to continue their businesses in a socially responsible and safe manner.    But whether working from home is new to you or you are a seasoned pro, it can present unique challenges depending on a multitude of factors.  We are sharing our tips for success below, as well as in our  QuickBooks Community and Intuit Accountants Community. Join the conversation! What tips do YOU have for working at home?   ++++++   Katie Harris, Community Manager   I have had remote work arrangements several times over the years, so I guess you can say that I was a WFH "pro" already. Adding virtual school into the mix introduced new chall

I had previously indicated an audit for 2013 which is incorrect. The audit is for my 2018 taxes.Please advise what action to take.

Today, 8/29, I went into Turbotax 2019 to access my 2019 return to determine a tax payment I need to make for a Capital gain I have recently incurred.The software opened and made me update. I do not like that , as I used to be able to skip it! Anyway I updated and now it doesn't find my 2019 return. So I browsed for it but it would not open it. m It is seeing my 2018 return. I am at a loss as to what to do at this point as I was just able to open it around a month ago, Thanks!

I worked full time for 9 years. I'm stay home mum. I heard when I reach retirement age, I won't be able to claim SS benefits as I need 10 years. What will happen with all my FICA money that I paid for all these years? Will I be able to get a refund? Thank you

How do I avoid Capitol gains from my boat sale?  Purchased about 3-4 years ago for $16,000 and could possibly sell for 40,000. How can I prove the boat was my primary home?Appreciate advice:)

I have received my $1,200 stimulus check but I didn't receive the $500 part of it for my dependent of 2019 how would I go about correcting that?

I got a letter from the IRS asking me to verify my taxpayer identification number.  I thought I signed my return with the appropriate ID number, could you please advise me as to what to do.  I am suspicious that this may be a fraudulent letter.  Can you advise me?

I got married in 2020, after myself and my then girlfriend received stimulus checks. She got $1200, I got $238. Now that we will file a joint return for 2020,  will I receive the difference? In addition, I have a child that I did not claim for 2019, as his other parent got to claim him for 2019. I get to claim him for 2020, will I receive a $500.00 credit for him?

I still have money in my HSA account that I can pay this stupid debt that shouldn’t be mine in the first place because it took place when I was still on my parents insurance

My spouse claimed our children on his 2019 taxes that he filed WITH Turbo Tax January 2019. We were supposed to receive $1200 plus 2 Dependent according to the IRS calculator but instead we only received $1700.  How can we get it corrected to receive the money ? And why is it wrong. 

How do I get assistance with crafting a legal Will?

If a federal employee began civil service on 30 March 1986, at which time he/she had 4 years of prior active military service (for which he/she made a military deposit to "buy back" the military service so it would count toward civil service retirement), and his/her Service Computation Date was adjusted to 04 February 1982, would his federal civil service retirement income be exempted from North Carolina state income tax based on the "Bailey Settlement"?

I am divorced and this is my year to claim my son.  My ex told me I am able to claim the full amount of daycare expenses, including the half that he paid.  Daycare has been providing me with statements for only my half and this is what I based my DCFSA on.  Now I want to know what I am really able to claim and how I could adjust my FSA to add the additional amount he paid.  Also, I believe I'm only allowed to claim up to 2500 being single, or am I allowed to claim the whole 5000? Thank you

I’m trying to find out when I’m filling out the F bar form 114 is my RRSP considered security or bank or other. It’s also saying that I have to include checking accounts at their highest amount in savings accounts at the highest amounts to the F bar. Anybody familiar with this