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 Berdon tax partners Saul Brenner, CPA, J.D., LL.M., and Jude Coard, CPA, answer your general business and financial questions. These professionals, with decades of experience, advise businesses and individuals with strategies to increase profitability and preserve wealth. Only questions that are of general interest to our readers will be answered and posted. Click on Answer to see the response. RECENT QUESTIONS Question:I own two residences. I use one as my primary residence and the other is occupied by family members on a rent-free basis. Will I be able to avoid capital gain on the sale of the residence occupied by my family members? Answer: [+] Question: Can a corporation deduct for Simplified Employee Pension (SEP) contributions if it has a loss or does the corporation need to show a profit first? Answer: [+] Question: I am a tenant-stockholder in a co–op and I owe maintenance payments by year end. Can I deduct the full amount of interest and real estate taxes allocated to my share, or should the amount be adjusted accordingly? Answer: [+] Question: I purchased a stock in 2000 and last year the company filed for bankruptcy. What documents do I need to give to my financial advisor to file as a loss? I have the original document for the initial purchase of the stock. Could I use it as a claim for a loss? Answer: [+] The information provided on this website is for general informational purposes only. It does not constitute, and should not be considered, professional advice regarding any particular circumstances. Please consult with your accounting or financial advisor before taking any action. Archived Questions... |
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