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Ronald J Cappuccio
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Ronald Cappuccio’s Answers

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  • Need a lawyer for a start up company. 1) Corporate Formation/Guidance 2) Website/Customer Agreements

    Launching an online portal. A concept in being, working on technical aspect but will be launching it commercially soon. Need a lawyer who has been through the cycle of start up online businesses.

    Ronald’s Answer

    You need a lawyer that can help you decide the location of formation and the type of entity. Also, if you are going to have more than one owner, there is more complexity in the set-up.

    I hope this helps!

    Ron Cappuccio

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  • Do I have a legal case?

    My tax preparer submitted a false document that she created during an IRS audit. I was not present during the submission since I signed a form allowing her to represent me during the audit. I confirmed with the IRS that the document and its deta...

    Ronald’s Answer

    Please, immediately retain a tax lawyer. It sounds like you have a fraudulent tax preparer and you do not want to be caught up in this. A lawyer will have attorney-client confidentiality.

    Do not discuss this more in public forums!

    Ron Cappuccio

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  • If my C Corporation didn't generate any income at all (or income is in the negative) Do I still have to file a return with IRS?

    Hello, My Texas Corporation didn't generate any income, in fact it has cost me money over the past 10 months. I moved to California and I am terminating that Corporation. Should I still file a return with irs for it? Thank you,

    Ronald’s Answer

    Yes, you should file a Corporate Tax Return - 1120. This will start the 3 year statute of limitations on audits by the IRS. You should also do the state corporate filings.

    Good luck!

    Ron Cappuccio

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  • I am non US citizen and perform services outside US. What form is required by my US client so they don't with hold any tax?

    I perform Engineering and drafting services for an American client. I am not an American citizen or resident. I do all my work in India. What kind of form do I need to send to my American client so that they do not with hold any tax.

    Ronald’s Answer

    There is no form. If you have a corporation established, the US entity can pay your business and there is no withholding. The problem with paying you directly is there may be a claim that you are an employee. You should talk with your customer and make sure they get a good tax lawyer to work on this.

    I hope this helps!

    Ron Cappuccio

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  • Are there tax implications for filing an LLC in NY, NJ or DE?

    I'm located in NJ, but very close to NYC. Are there tax benefits for one state over the other? Or is this something I should ask an Accountant?

    Ronald’s Answer

    It depends on what you are doing in the LLC. If it is an online only business, you may want to consider DE. If you have an actual location or store, you will need register in that State. You really need to review this with a good tax and business lawyer who can help you set-up the business right!

    Good luck!

    Ron Cappuccio

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  • Can my LLC opt to be treated as an S-corp?

    I'm an American starting a business with a Spanish friend of mine. We're incorporating an LLC in Texas and would like to have the LLC treated as an S-corp for tax purposes. My Spanish friend is a non-resident alien, living in Madrid. The Instructi...

    Ronald’s Answer

    No, as a non-resident alien, your friend can not qualify for S corporation status. Frankly, the LLC is probably better as a 1065 partnership for tax purposes. If your friend does not want to file US income tax returns, he could set-up a "blocker" corporation to be the LLC member.

    You need a good tax and business attorney to doe this right!

    Good luck in your new business.

    Ron Cappuccio

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  • Consulting biz w/ 2 partners - 1 in CA & 1 in CO. Any advice where to create LLC? What else needs to be done? Clients nationwide

    No sale of any goods. Both home-based consultants; no employees. Currently have clients in Texas, Colorado, California and occasionally other states. Do we need an LLC in 1 or both states? Do we have to file taxes in every state we do ...

    Ronald’s Answer

    You did not state the type of consulting, but it seems like all of the work is done remotely. Most likely, you will not have to register in most States, but you definitely will need a tax and business lawyer to review the facts and make a determination,

    Good luck in your new business!

    Ron Cappuccio

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  • My wages are being garnished by the irs for back taxes, will they stop there or go after my house, cars etc.

    I am a federal employee and i was already making payments. I was always on time with the payments we set up but they started garnishing my wages but i need to know will they stop there or will they go after my possessions and if so how long do i h...

    Ronald’s Answer

    If you had an installment agreement, your wages would not have been garnished. You need a good take tax attorney to help you get an installment agreement and to prevent further IRS collections actions.

    Good luck!

    Ron Cappuccio

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  • Accidentally incorporated 4 years ago in NJ, never did business, $0 assets. Reinstate & dissolve? Worst outcome if I let it go?

    Four years ago when I was registering my sole proprietorship, I accidentally incorporated a business in NJ. Found out recently about the min CBT ($500 annual). The business is currently void, and would have to be reinstated/dissolved. Never comme...

    Ronald’s Answer

    Unfortunately, people often make mistakes when they try to do it themselves. NJ does not have a no asset dissolution. You need to talk to a good tax and business attorney to help you solve the problem. Also, if you decide to open a business, most likely a Limited Liability Company would be the better choice,.

    I hope this helps!

    Ron Cappuccio

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