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LarryL20
Expert Alumni
Expert Alumni
Member profile
CPA with 43 years of tax experience
Latest badges earned

  • Re: New Home Construction Deductions

    Most of the closing costs are added to the cost of your house rather than deducted on your tax return. The primary exceptions are real estate taxes and interest...
    LarryL20
    1
    Updated Nov 26, 2022

  • Re: Started a new business

    Income and expenses for a sole proprietorship (single owner) are reported on your tax return on Schedule C. Here is a link to theProfit and Loss from Business (...
    LarryL20
    Updated Nov 16, 2022

  • Re: Guardianship income

    Yes. Your grandson may have to file a tax return on the amount received from Social Security (depending on how much the grandson received).Your grandson should ...
    LarryL20
    Updated Nov 16, 2022

  • Re: Questions on a New Business during COVID

    There is not a lot of information about the business or why you are prolonging filing taxes. As a cash basis taxpayer, you must report income and expenses in t...
    LarryL20
    1
    Updated Nov 16, 2022

  • Re: Declared Income I Shouldn't have

    You should ensure that the amounts that you received are not taxable based upon accurate information. Assuming that this information is correct and in response ...
    LarryL20
    Updated Nov 16, 2022
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