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What's the correct way to capitalize software costs for a single-member LLC? I'm currently incurring startup fees and software development costs. When the... read on

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• 4 votes
• Answered byThe BIDaWIZ Team

A taxpayer received a Canadian Statement of Amounts paid to Non Residents of Canada, Form NR4. It was for pension benefits for when... read on

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• 1 votes
• Answered byThe BIDaWIZ Team

If my only income is social security and investment income, can I still contribute to an IRA? If not and I have already... read on

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• 2 votes
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A taxpayer bought a condo for his son to live in rent free in 2005. The son moved out in 2013 and the... read on

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• 3 votes
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I opened an educational IRA for my son who never used it. My son is now 24 years old. What can be done... read on

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• 5 votes
• Answered byThe BIDaWIZ Team

If I sold my company for $6.5MM and $2MM went to debt repayment, do I get taxed on the full 6.5MM or 4.5MM?... read on

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• 4 votes
• Answered byThe BIDaWIZ Team

I have a dentist PC Corporation. I bought a new car that was used for my business. I purchased the car... read on

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• 4 votes
• Answered byThe BIDaWIZ Team

How do you calculate Gross Profit Percentage for Installment Sales. My boss purchased this property in 2000 and sold it in 2003 as... read on

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• 1 votes
• Answered byThe BIDaWIZ Team

A credit shelter trust owns 25% of a farm. Form 1041 instructions say a trust "is not allowed to make an election under... read on

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• 2 votes
• Answered byThe BIDaWIZ Team

My husband and I are legally separated in the State of Michigan. We are filing taxes separately. I am filing head of household.... read on

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• 1 votes
• Answered byThe BIDaWIZ Team