Gary39
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Thanks, that is helpful. I also subsequently realized that the situation I described is actually an application of the Mega Back Door Roth strategy (although a ...
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Thanks MaryK4, but I am not sure that is always correct (in all situations)? In this specific case the Sole Proprietor already made the maximum allowable Salary...
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Thanks. I am asking on my sons behalf (he is the homeowner with the roommate). It would not be advantageous for him to treat this as a rental and depreciate a p...
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Thanks for the feedback, but are you sure? I see that Intuit's Employee Tax Expert says "only the part that you pay, i.e 1/2 in my case". I like your answer bet...
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Regarding the last comment in the previous reply "You can still deduct the mortgage interest and property taxes as itemized deductions on Schedule A of the tax ...
Activity Feed for Gary39
- Posted Re: Can a Sole Proprietor have a Cost Basis in his own (Traditional) Solo 401 K? on Deductions & credits. April 16, 2023 11:36 AM
- Cheered Re: Can a Sole Proprietor have a Cost Basis in his own (Traditional) Solo 401 K? for dmertz. April 16, 2023 11:21 AM
- Posted Re: Can a Sole Proprietor have a Cost Basis in his own (Traditional) Solo 401 K? on Deductions & credits. March 30, 2023 8:27 PM
- Posted Can a Sole Proprietor have a Cost Basis in his own (Traditional) Solo 401 K? on Deductions & credits. March 30, 2023 2:20 PM
- Posted Re: If you want to consider the amount received as rent, then... on Deductions & credits. March 9, 2020 1:09 PM
- Posted Re: If you want to consider the amount received as rent, then... on Deductions & credits. March 9, 2020 1:01 PM
- Posted Re: If you want to consider the amount received as rent, then... on Deductions & credits. March 9, 2020 12:36 PM