Everyone knows there are tax benefits to having children and dependents
and some are pretty amazing! If you’ve ever had questions about the
popular Child Tax Credit (CTC) or Earned Income Credit (EIC), this is
the place to be! TurboTax does the think...read more
It seems the most popular question at tax time is “Can I deduct this…?”.
Of course you don’t want to pay more taxes than you need to; and you
want to get all the tax deductions and credits you’re entitled to take.
The resources below have helped many...read more
I'm filing my taxes using Turbo Tax Home and Business. I'm filing
jointly and my AGI is higher than the IRS limit for the EV credit.
However I purchased this vehicle for my LLC and I'd like to claim this
credit for my business. I can't seem to find a...read more
The two members/partners of an LLC purchased about $2500 in furniture
used in rented space for their salon services. Does the furniture
(chairs, sofa, countertops) need to be entered on Form 1065 as a fixed
asset or as an expense. If an expense, I am...read more
theleebPosted yesterday
| Latest post 11 hours ago by
Mike9241
Hi folks, there are two partners operating a business and it is
organized in the state of Tennessee as a "Multiple Member-Managed
Limited Liability Company". I am not sure whether to select "Domestic
limited liability company" or "Domestic limited li...read more
theleebPosted yesterday
| Latest post yesterday by
Mike9241
Hello, so far I have not seen a way to subcategorize income for
allocation purposes for an LLC partnership on Schedule K-1 The
partnership agreement simply states that all profits are split in half
(two-member LLC). But I know each of the partners ag...read more
My iOS It's Deductible mobile app doesn't show stock donations although
they are showing up in the online version of It's Deductible. Is this a
known issue, or just a limitation of the mobile app?
Hi IRS primary residence definition is vague. I am finding hard time
find out my the last date of primary residence for Publication 523 tax
exclusion. I purchased my pervious place in 2018 and current place in
2021. I changed my USPS address on May/2...read more
I sold my home on a contract I lived in for 9yrs it had no mortgage on
it . Now it's paid in full by the buyers and I'm told I have to fill out
a w-9 for IRS by attorney that's drawing up new deed for buyer ? it was
only 50.000 over 9 yrs of monthly ...read more
Why isn’t there an update option on the “What do you need to change on
your return?” screen to amend carry over information from 2021 to 2022
Windows Desktop Premier version? The update will not only appropriately
handle losses etc. but should also p...read more
I was using a vehicle that I was still paying on for the majority of
2023 for personal and business use. In October I traded that in and got
a different vehicle which was being used for personal and business
usage. I am not sure how to file taxes and...read more