Employee Tax Expert
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I love helping people understand their taxes better! I've been an Enrolled Agent since 2014.
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Thanks for your question today! If your 1099 reflects only the payments received for services, then you would not report the reimbursement as income and would ...
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Since you stated that the entity will be taxed as a C Corporation, then yes, if you are providing services to the corporation you must be paid reasonable compen...
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Jeff, It's possible that no tax would be owed. Please take a look at the "inheritance" section of this article. It explains that if the asset was received by i...
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Itemized deductions on Schedule A include things such as medical expenses, mortgage interest, property taxes and charitable contributions. Deductions against t...
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As it sounds like all of these expenses were incurred after the property stopped being rented out and in order to make it livable as your personal residence, th...
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