59
votes
Paying $185k back rent to sister - can I claim in taxes?
This is way too complex for a DIY. You need an attorney ASAP. With the amounts involved (hundreds of thousands of dollars), you may be able to get an attorney on commission (i.e.: you don't pay ...
- 166k
28
votes
Paying $185k back rent to sister - can I claim in taxes?
I think you can't be charged "back rent". For most of the time you were there your mother owned the house and so could live there rent free. If she allowed you to live in the same apartment ...
- 33.1k
9
votes
Paying $185k back rent to sister - can I claim in taxes?
Your question is so weird. You seem focused on the wrong thing. $185k in back rent sounds completely bonkers.
But to answer your literal question of "can I claim that on my taxes"; talk to a ...
- 692
6
votes
Accepted
Are interest and penalties due to the IRS when there is an automatic extension due to emergency?
The disaster relief allows postponing deadlines to file and to pay. For much of California, the deadlines to file and pay 2022 taxes have been postponed to November 16, 2023 (after the initial ...
- 166k
4
votes
Accepted
If the highest federal tax rate is 33% and the highest provincial tax rate is 25.75%. why is the marginal tax rate 53% rather than 58.75% (Quebec)?
https://www.taxtips.ca/qctax/federaltaxabatement.htm
Under an agreement between the federal government and Quebec, most
Quebec taxpayers get a federal tax abatement (reduction) of 16.5% of
either ...
- 1,737
3
votes
Accepted
How do income taxes work with basic personal amount in Canada?
The tax brackets are for amounts of taxable income. The personal allowances specify the amount of income that is not considered taxable.
If you earn $15,100 then your first $15,000 is not taxable. You ...
- 33.1k
2
votes
Paying $185k back rent to sister - can I claim in taxes?
If you're receiving income and then turning around to pay it back to your sister, that could be two taxable transactions, once for your income and once for your sister's rental income (although if it'...
- 185
2
votes
Can I claim the tax back from my lawyer's fee?
Attorney fees for insurance and liability claims are not tax deductible in the US.
- 166k
2
votes
Accepted
Can I re-file a missing Schedule 1 in this situation?
You didn't provide enough information to answer your question. the IRS did not allow for that deduction because Schedule 1 was not filed - what is this based on? Did they receive an official letter? ...
- 166k
2
votes
How do income taxes work with basic personal amount in Canada?
Your tax is $15. I don't know what tax calculator you used but complicated ones will have employment income and a bunch of other types of income. You want to use other income or interest income as ...
- 1,737
1
vote
Accepted
Switzerland taxation over income derived from foreign businesses
You'll need to talk to a tax adviser. They'll ask you:
Is your LLC a corporation or a partnership? You said it's a single member, but then went on to refer to it as "we".
If corporation - ...
- 166k
1
vote
Accepted
How do I report Interest on tax refund from India?
You file the form 1040-X with the new form 1116 based on the updated numbers, and calculate the difference in tax liability based on the updated (reduced) credit.
Since the foreign government paid you ...
- 166k
1
vote
Paying $185k back rent to sister - can I claim in taxes?
To answer the question in the headline: Unless it's a business expense, rent is not deductable. But the lawyer can confirm that for you too, or see if you can categorize some of it as something else.
- 43k
1
vote
In which country do I pay capital gain taxes, as a German with a US Internship?
This is a difficult matter for capital gains of only $1000. To answer your question, you need to first understand whether you are a tax resident in Germany and/or in the USA in 2023. You can be a tax ...
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