Ronald J Cappuccio’s Answers

Ronald J Cappuccio

Cherry Hill Tax Lawyer.

Contributor Level 16
  1. Foreign partnership establishing US entity seeks answer to entity structure and tax implications.

    Answered almost 2 years ago.

    1. Ronald J Cappuccio
    2. Luca Cristiano Maria Melchionna
    3. Frank A. Natoli
    4. Todd Matthew Heine
    5. Michael Thomas Farrell
    5 lawyer answers

    A limited liability company is the most flexible form of organization for both tax and business purposes. Most likely that would be a smart choice. Much of the issue depends on how this is taxed in the Netherlands. I presently have a Dutch client that is a partnership that owns the US LLC as a solely owned member. US federal and state tax returns are filed and the income passes through to the Dutch entity. If the individual partners were to own the entity, then the partners would both have to...

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  2. I am 50% owner of a partnership LLC in NJ and want to leave the business. How do I go about doing this

    Answered 12 months ago.

    1. Ronald J Cappuccio
    2. Michael T Warshaw
    3. John Robert Eltringham
    4. Bruce E. Burdick
    5. Raymond Andrew Grimes
    5 lawyer answers

    Yes, you definitely should have a tax and business attorney to represent your interests. No one can give you an answer without looking at the business formation documents, especially the Operating Agreement. This will outline your rights and responsibilities and how you can get out of the business. I hope this helps! Ron Cappuccio

    11 lawyers agreed with this answer

  3. I am self employed and have not payed taxes for 10 yrs,what are my options ?

    Answered 11 months ago.

    1. Ronald J Cappuccio
    2. Richard Albert Luthmann
    3. Oscar Javier Ornelas
    4. Robb Adam Longman
    5. Robert Jan Suhajda
    5 lawyer answers

    Do not speak to anyone about this including an accountant or tax preparer. You should definitely meet with a tax lawyer. Lawyers have attorney/client confidentiality. Accountants do not and can be forced to testify against you in a criminal tax matter. The attorney can review your documents. Since you are self-employed, you will definitely owe tax. In that case the tax attorney will hire the accountant to maintain confidentiality. Please note, the chance of criminal prosecution is small, but,...

    10 lawyers agreed with this answer

  4. How do i know if my LLC was filed and registered with an EIN?

    Answered 11 months ago.

    1. Dana P. Shaffner
    2. Ronald J Cappuccio
    3. Alfred Fargione
    4. Loraine M. DiSalvo
    5. Steven M Zelinger
    6. ···
    7 lawyer answers

    It always amazes me how accountants try to practice law and do things far outside their education and training. You definitely should have used a tax and business lawyer to set-up your business. I suggest you call an attorney now. The attorney can check the records and make sure you have a proper operating agreement and other formation documents. Good luck! Ron Cappuccio P.S. The link is for an article comparing the tax advantages of an LLC vs an SCorp. Usually, it is best to be a...

    11 lawyers agreed with this answer

    1 person marked this answer as helpful

  5. How can I avoid capitol gains?

    Answered over 1 year ago.

    1. Ronald J Cappuccio
    2. Joseph Michael Pankowski Jr
    3. Steven M Zelinger
    4. Athina Karamanlis Powers
    4 lawyer answers

    There are several options. One is a 1031 Like Kind Exchange. You could exchange several houses for one larger property (such as a strip shopping center) that may be easier to manage. Another choice is to sell the properties with the least gain first. Then, hold on to the remaining properties so there is a stepped-up basis on your death. Please talk to a good tax and estate planning attorney to help you with this. Ron Cappuccio www.SaveYourEstate.com www.TaxEsq.com

    11 lawyers agreed with this answer

  6. I need help. I havent filed taxes in 5-7 years. Im not sure what to do. Should I get a tax lawyer or an accountant to help me?

    Answered almost 2 years ago.

    1. Gregory Herman-Giddens
    2. Pamela Koslyn
    3. John B. Reilly
    4. Jonathan Hackworth
    5. Ronald J Cappuccio
    6. ···
    7 lawyer answers

    Sorry, but you should definitely meet with a tax lawyer. Lawyers have attorney/client confidentiality. Accountants do not and can be forced to testify against you in a criminal tax matter. The attorney can review your documents. If you are self-employed, you will definitely owe tax. In that case the tax attorney will hire the accountant to maintain confidentiality. If you are an employee with normal withholding, most likely the taxes due would be smaller and the attorney may just simply have...

    11 lawyers agreed with this answer

  7. Someone worked full time for over 20 years but never filed an income tax return. Can any charges be filed against him?

    Answered about 1 year ago.

    1. Ronald J Cappuccio
    2. Venar Raad Ayar
    3. John Stephen Larose
    4. Harold R. Berk
    5. Zaher Fallahi
    5 lawyer answers

    The failure to file can be a crime. Sorry, but you should definitely meet with a tax lawyer. Lawyers have attorney/client confidentiality. Accountants do not and can be forced to testify against you in a criminal tax matter. The attorney can review your documents. If you are an employee with normal withholding, most likely the taxes due would be smaller and the attorney may just simply have the accountant prepare the returns. Please note, the chance of criminal prosecution is small, but, you...

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  8. Wrong address on previous tax returns

    Answered over 1 year ago.

    1. Ronald J Cappuccio
    2. Henry Daniel Lively
    3. Evan A Nielsen
    4. J. Craig Carman
    4 lawyer answers

    You need to file a Form 8822. Here is the link on the IRS site: http://www.irs.gov/pub/irs-pdf/f8822.pdf Good luck! Ron Cappuccio www.TaxEsq.com

    8 lawyers agreed with this answer

    1 person marked this answer as helpful

  9. If I do not pay federal income tax on my earnings, am I a tax cheat?

    Answered about 1 year ago.

    1. Ronald J Cappuccio
    2. Michael Charles Doland
    3. Terrence Jay Moore
    4. Bruce Givner
    5. Richard Gordon Stack
    5 lawyer answers

    I am sorry that you seem to be falling prey to the tax protester nonsense. The Constitution was changed to permit personal income taxes and the Internal Revenue Code was enacted and has been amended tens of thousands of times. Case after case that has gone up to the US Supreme Court has proven that the Internal Revenue Code and the tax laws are collectible. If you want to be a tax protester you are looking towards a future of possible jail, and at a minimum heavy fines, penalties and large...

    10 lawyers agreed with this answer

  10. I rented a commercial space under a sub lease for a restaurant business in NJ. The business is doing poorly and I want out.

    Answered about 1 year ago.

    1. Daniel Adam Pepper
    2. Ronald J Cappuccio
    3. Raymond Andrew Grimes
    4. Steven R. Neuner
    5. Michael T Warshaw
    5 lawyer answers

    Did you PERSONALLY sign it or did your lawyer form a Limited Liability Company? If you personally signed the sublease, you may be liable, depending upon the terms of the lease. You may have other debts - such as equipment suppliers- for which you may also be responsible. Closing a business, could leave you with a lot of debts and tax obligations. You need help! Please see a good tax and business lawyer right away. Good luck! Ron Cappuccio

    8 lawyers agreed with this answer

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