Description:
Tax professionals meeting place and answers to queries. (Moderated)
|
|
|
Health Savings Account with high medical expenses
|
| |
I am on Cal-COBRA after working for a small employer. I have an HSA- compatible policy and an HSA, but my premiums are high (because of my age) and I use up my deductible and out-of- pociet maximum every year, and also have a lot of uncovered health expenses because some of my doctors are out-of-network.... more »
|
|
|
Employer paid education taxes deducted over different tax years
|
| |
So my wife is doing an MBA and her company pays for school. Recently they changed their tax withholding procedures. Before she was able to claim it was work related so no taxes were withheld. Now the company claims that is no longer the case and they must withhold taxes on anything over the 5250 and it gets spread over 7 pay periods.... more »
|
|
|
CCH Tax News Headlines - November 11, 2009
|
| |
CCH Tax News Headlines - November 11, 2009 Federal Headlines: 11/11/2009 - _Reid Expects Health Reform Debate to Begin Before Thanksgiving_ ([link]) 11/11/2009 - _Statutory Hybrid Plans Granted Relief for Interest-Crediting Rates (Ann. 2009-82)_... more »
|
|
|
Federal Energy Tax Credit Requirement
|
| |
I searched this newsgroup for this subject and didn't find my answer. Does someone know where I can get definitive requirements for qualifications for these tax credits. I've just purchased a house and will be replacing a 1988 vintage roof-mounted AC/Heating Unit immediately since a 4" crack was found in the... more »
|
|
|
extended home buyer tax credit
|
| |
I have a question about claiming the extended home buyer tax credit. The IRS says that if the qualified home buyer has a binding written contract by April 30, 2010 and closes on the house by July 1, 2010, they can amend their 2009 return and apply the credit, or they can wait and take the credit on their 2010 return filed by April 15, 2011.... more »
|
|
|
back-door Roth scheme
|
| |
I recently heard about the following scheme for a (semi-)retired person to sneak money into a Roth ... Set up an S-Corp. Pay yourself a paycheck from it. Do a solo-401K to convert the "paycheck" money from taxable to tax-sheltered. The S-Corp gives you negative income, which you offset with a Roth conversion.... more »
|
|
|
CCH Tax News Headlines - November 10, 2009
|
| |
CCH Tax News Headlines - November 10, 2009 Federal Headlines: 11/10/2009 - _White House Weighs in on Budget Reconciliation Protection of Health Care Reform Bill_ ([link]) 11/10/2009 - _Substantial Overstatement of Partnership Basis in "Son of... more »
|
|
|
Explaining a Loan/Services Rendered in an Audit
|
| |
I am currently going through an audit with the IRS. The accountant I have been using ended up screwing up my taxes, so I went into the audit representing myself. Obviously not the best choice, I realize now. I've done a decent job so far. We are down to only two more issues that I need to explain. The one I have a question about is as follows>... more »
|
|
|
HSA & Deducting Medical Expenses.
|
| |
I was hoping someone could shed some light on a tax question I have: I have an HSA with a HDHP, and my employer contributed $1500 to this HSA this year. My family deductible was $7000, which we hit this year with the birth of our first child. I have a few questions 1.) My deductible is > 7.5%, so I can itemize this cost, correct?... more »
|
|
|
Roth recharacterization question
|
| |
This is a pretty basic - and simple, I hope - question, but I can't seem to find the answer. I convert some CASH from trad-IRA to Roth. I then invest that cash, and the investment loses money. So I want to recharacterize, for tax savings. Can I do this, even though I converted cash, and it's not... more »
|
|
|
|
