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bbaker11
Employee Tax Expert
Employee Tax Expert
Member profile
I'm an Enrolled Agent with 16 years of tax preparation experience.
Latest badges earned
  • Making an early withdrawal from your 401(k) can lead to a 10% penalty on the early withdrawal amount. Please see the following link for more information: https:...
    bbaker11
    Updated Oct 30, 2024
  • For tax year 2024, the maximum amount of income a joint filer can have and still contribute to a Roth IRA is $240,000. Although note that your contribution amou...
    bbaker11
    5
    Updated Oct 31, 2024
  • Per IRS Pub. 525, https://www.irs.gov/pub/irs-pdf/p525.pdfp. 35, Holocaust reparation payments are not reportable and therefore not taxable. Same would apply to...
    bbaker11
    Updated Oct 30, 2024
  • If you suspect or know an individual or business isn't complying with the tax laws or hasn’t paid the tax they owe, report online or by mail withForm 3949-A, In...
    bbaker11
    Updated Oct 30, 2024
  • Congratulations on your new line of work! As a self employed individual, you would be required to file a Federal return if your net earnings (total of all incom...
    bbaker11
    Updated Oct 30, 2024
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