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"The hardest thing to understand is the income tax." - A. Einstein
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Are the rental incomes of the medical equipments unrelated business taxable income?
3 days ago, Colorado, USA
I trade futures on the futures exchange. Am I subject to the 28% short term tax rate?
Answered by Jeffrey Jackson
Futures are taxed at the 15% tax rate. Read More
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1 week ago, New York, USA
My wife, who's an actress, got dental braces to straighten her teeth in order to improve her marketability. Can she deduct the cost of her braces as a business expense?
If she is in some sort of add or actress who makes money from teeth showing, I believe she could deduct as business expense. But if she just... Read More
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4 weeks ago, California, USA
An employee purchases shares of common stock of her employer, with a full recourse promissory note, but her employment agreement provides that any outstanding indebtedness at the time of her death, permanent disability, termination without cause or a change in control, will be forgiven.
Answered by Chris Snedeker
If the note is forgiven then the employee may have a taxable event. It will create debt forgiveness income to the employee if there is a... Read More
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5 weeks ago, California, USA
If I am a model, can I write of my gym membership as a business expense?
Answered by Daiva Kalinin
Likely not Read More
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6 weeks ago, California, USA
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