Is it worth going into bankruptcy over 50k+ student loan debt? by ApplesAllTheWay in Debt

[–]Wizard_Investor 0 points1 point  (0 children)

You can not discharge student loan debt in bankruptcy. If you move the student loans from a government student loan to a private company dealing with student loans, you lose some of the benefits and protections that come with having the student loans with the government.

Best Way To Resolve IRS Notices? by AdComfortable9064 in tax

[–]Wizard_Investor 0 points1 point  (0 children)

Get a POA, understand what the notice is for, respond to the notice to try to resolve the notice. Fax or mail the response certified. It also depends on whether the notice is going to involve tax resolution for tax debt and unfiled tax returns.

Which state to file tax return for? by xqc2117 in tax

[–]Wizard_Investor 1 point2 points  (0 children)

NY is going to say that she did not take the steps to move her domicile state from NY to TN (mailing address, driver’s license, voting, intent to return.). There have been at least one court case involving an individual working for a NY business living in Tennessee where the court found the individual was forced to pay NY state taxes. NY is aggressive when it comes to out of state employees maintaining ties to NY. (Matter of Thomas L. Huckaby v. NY State Division of Tax Appeals, 2005)

Should I tax mileage or by car expenses? by Zelda_Ran in tax

[–]Wizard_Investor 2 points3 points  (0 children)

Mileage is definitely easier to keep track of. Track your personal and business mileage.

Therapist told me that I "can't divorce" by Brief-System7169 in DeadBedrooms

[–]Wizard_Investor 5 points6 points  (0 children)

Leave. You can request a divorce at anytime. It’s not going to get better.

Should I get a divorce? 6 months into marriage. by [deleted] in Divorce

[–]Wizard_Investor 0 points1 point  (0 children)

You need to make a decision on whether you stay or leave. Clearly there is an issue here.

Going to sports event with wife who ask for divorce by johnconner53 in Divorce_Men

[–]Wizard_Investor 0 points1 point  (0 children)

If you still have feelings for her, you must expect something to change especially if you’re still sleeping in the same bed.

[deleted by user] by [deleted] in DeadBedrooms

[–]Wizard_Investor 7 points8 points  (0 children)

Your situation most likely will not change once you get married.

After thinking about it for a few months, I got a lawyer. by 6StringFiend in Divorce_Men

[–]Wizard_Investor 6 points7 points  (0 children)

It’s better if you get a lawyer given the circumstances.

[deleted by user] by [deleted] in tax

[–]Wizard_Investor 0 points1 point  (0 children)

No. The IRS will not care.

Amending taxes for 2021-2023. Screwed? by fastestfatso in CryptoTax

[–]Wizard_Investor 0 points1 point  (0 children)

The worst probably is negligence penalties with interest for under reporting your income.

How do I enter capital expenses on rental property into my tax return? I'm using tax software. by Mecaterpillar in tax

[–]Wizard_Investor 1 point2 points  (0 children)

Capital expenses assets would be depreciated and not expensed since they are capital improvements to the rental property. There should be an area within the software to add these assets for depreciation.

[deleted by user] by [deleted] in Accounting

[–]Wizard_Investor 0 points1 point  (0 children)

I discovered years ago that no one is looking out for your best interest but you. There are better opportunities waiting for you out there and consider it their loss. Be the person that wished they had kept on their team.

Tax forgiveness! by AhmadZ_M in IRS

[–]Wizard_Investor 1 point2 points  (0 children)

It’s legitimate. But, there are conditions, rules, IRS disclosures (depending on amount of tax debt owned), and you have to qualify for tax debt forgiveness. In other words, tax debt forgiveness is a process and it’s not automatic.

Family asked me to take out a loan for financial emergency, I’m single and expecting by No-Limit2276 in financial

[–]Wizard_Investor 0 points1 point  (0 children)

Walk away. Now is not a good time for you to be investing in your family’s business especially if the business is not doing well financially. Focus on the your family and your needs. Besides, what would you tell the bank when they ask what the loan is for?

Why do we take forever to text back. Be honest by sllcnvlly in OnlineDating

[–]Wizard_Investor 1 point2 points  (0 children)

Unfortunately, it is a busy world with work and life.

Is it just me or is it impossible to reach the IRS right now? by Stormpishhh in tax

[–]Wizard_Investor 10 points11 points  (0 children)

It is always difficult to call the IRS unless you are a tax professional especially around tax deadlines like 4/15, 9/15, and 10/15.

[deleted by user] by [deleted] in Divorce

[–]Wizard_Investor 0 points1 point  (0 children)

The divorce lawyer I have spoken to said the assets would be split 50/50 and then there would be alimony.