Normannn

I have a client who is a realtor who leases a vehicle for the business and business use is 100%. when taking into account the lease you do not take any depreciation deduction into account of the lease only the lease payments minus the Inclusion amount and mileage to see if the standard deduction or actual deductions are higher. thanks for any help Norm Desmarais

Hi everyone I have a question about a client who had died and beneficiary is fiance who funded most of IRA. she had lots of credit card debt that was cancelled and owed the IRS and Mas Department of Revenue back taxes and the beneficiary is wondering if the IRS and Mass DOR has a right to the part proceeds from the IRA. I am under the impression that the IRA And Mass DOR can go after their money from the IRA before it's distributed to the beneficary. the IRA doesn't have any kind of lien forom both of them and wondering if we should distribute the IRA to the beneficiary and claim it as his?

A TP bought a srayer for his Farm and wants to section 179 it all. Can you section 179 equipment and create a loss on the sch F or is it limited to bringing you profit down to zero?