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  • When can you take a capital loss on worthless stock?

    Individuals own stock in a holding company whose sole asset is an insurance company which is going into receivership today. The stock is worthless today, as there is no market it and the shareholders won’t see a dime, but it won’t actually be disolved for a year or two. Can we take the [...]

  • Do I have to pay taxes for money earned from a legal settlement?

    If one is awarded money as a result of a legal settlement, do I need to pay federal (and/or state taxes) on the money earned from such a settlement? The settlement was a result of a grievance filed for employment discrimination and wrongful termination.

  • How smart is it to sell stock to help in a house down payment? Does the tax hit make it not worth it?

    I’m trying to get my monthly mortgage payment manageable by adding a chunk to my down payment (stock $).

  • How much money can you make until you have to start paying taxes?

    I just started cleaning houses for some extra money. I make about $100 a week. Do I need to pay taxes on this money? Do you know how much money I can make with out having to pay taxes?

  • The company has withholding tax from stock options in divorce,how wud we pay the tax from the non employee ?

    The company has withholding tax (federal and state(CA) from stock options in divorced couple, the husband is the employee.How would the company remit the withholding tax from the wife’s(non employee’s) share in IRS and CA FTB?what forms need to file by the company?

  • Do companies raising money in the stock market pay capital gains?

    Say a company goes public and raises $100 million through issuing stock, do they have to pay the capital gains tax on this?

  • Bringing money from another country to purchase a house here?

    If a large amount of money like 40-50k is brought here from a foreign country, and some wants to use it to buy a house will they be taxes by IRS? I know there is a fee to transfer the money here, but should the IRS tax these money since it will be use for [...]

 

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