Employee Tax Expert
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TurboTax Live, Biz-Tax Tax Expert, CPA MSA-Tax - Experience including construction, entertainment, medical, restaurant
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JR,Thank you for your follow-up question.For $55,000 gain less the standard deduction $15,750 = $34,250.You will have an additional standard deduction for being...
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Greetings JRIf you are a single taxpayer and your only income is the capital gain if it is long term.Consider the $50,000 gain less the standard deduction $15,...
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LLC's for the most part don't have what you would really call shares. They are more aligned with what a partnership has which is ownership percentages, so it wo...
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Clothing expensesfor consideration are normally items not worn outside of work. Items that can also be used as street clothes are not deductible. They need to b...
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ForeignTravel Expenses are fully deductible if you spend 100% of your time abroad for business. But if you participate in nonbusiness activity (sightseeing, wi...
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