Skip to main content
Datan Zvi Dorot

Datan Dorot’s Answers

4 total

  • Is an LLC filed in Delaware owning real estate property in Florida, responsible for filing State Income Taxes in Florida?

    Property (Rental Property)

    Datan’s Answer

    Florida only imposes income tax on corporations. LLC’s, however, can be in the form of either a corporation, a partnership or a disregarded entity for tax purposes. Generally people who create LLC would have them set up as “partnerships” and, therefore, would not be subject to state income tax in Florida. Nonetheless, this is definitely something that would require you to go over with a qualified professional to determine the details.

    See question 
  • Can the IRS and Offer in Compromise?

    Hi, after severe economic problems, I ended with an IRS debt of $ 1500. I started paying my debt last October $ 100 a month. I am wondering if I can make an Offer in Compromise to the IRS? What are the benefits?

    Datan’s Answer

    The IRS engages in “offers in compromise” under various circumstances. The most common successful offers in compromise (which is a process in which you and the IRS agree on a reduced payment than the amount owed) involve insolvent taxpayers or when there is legitimate doubt as to liability (i.e., the IRS is wrong). While seemingly simple, this process can actually get quite involved and you should see representation by a qualified professional.

    See question 
  • Do I need to pay taxes on $100970 I received in 2014 on wire transfers? My mom and grandma sold a house in Cuba.

    I received 59k in a international wire transfer, and the rest on 25k , 9500 etc on national wire transfers that adds on $41970. Should I fill out form 3520? I haven't received any paper from the bank.

    Datan’s Answer

    If it was a gift from your non-resident alien mom and grandma, then there will be no tax. You do, however, have to file a Form 3520 to report the gift (but again, there will be no tax to you). I do suggest speaking to a CPA or a tax attorney to guide you along the process.

    See question