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Brian Joseph Munson

Brian Munson’s Answers

316 total


  • I live in Paris, I would like to start company in the USA. Do I need to have a LLC for a tax ID number

    Start a Business in the USA

    Brian’s Answer

    LLCs and Tax ID #s are not required. The purpose of an LLC is to limit your personal liability while still allowing for a simple flow-through structure. If you are the sole member of the LLC, you do not need a Tax ID # -- you can just use your SSN. However, I advise clients to get a separate tax ID # so the business accounts are not under their SSN.

    Converesely, if you choose not to go the LLC route (or some other entity) you would be considered a sole proprietor and would not need a tax ID #. Everything would be under your SSN.

    I would advise that you at least form an LLC for liability purposes. This is quick, easy, and cheap. You can do it online at the La Secretary of State website, though you should probably consult with an attorney familiar with start-ups and organizing documents to ensure that you have any necessary language. Also, depending on the purpose of your company, an LLC may not be the best form -- especially when international matters are concerned.

    Best of luck.

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  • If i have misplaced my mothers will can i get a copy of it?

    Lost will

    Brian’s Answer

    The attorney or notary who prepared the will should have a copy. If your mother is still living, they will likely require her permission to speak with you about it. If she has passed, then they should give you a copy. Unfortunately, there is no central filing system for wills in La. If you're not sure who prepared it, you can search public records to see what attorney or notary your mother used in the past and start your search from there.

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  • In April of this year, I began an LLC with hopes that I could have it qualify for tax exemption by the IRS.

    However I was informed by the IRS that I should dissolve the LLC in the state of Louisiana and incorporate a nonprofit instead when trying to gain tax exemption on a corporation. Should I dissolve the LLC and start up a nonprofit? Or should I con...

    Brian’s Answer

    LLCs can qualify for tax exempt status, but the IRS prefers a corporation. For one thing, you cannot use the new EZ form if you are and LLC. There are also specific provisions you need in your organizing documents. If you have not begun operations yet, then it may be beneficial to scrap the LLC and start fresh. However, most people have invested time and money into the LLC and don't want to do that. Regardless, you should consult with someone familiar with starting non-profits. Don't begin as a for-profit and try to switch later; that just isn't practical. If you want to talk more about it, I'd be happy to help.

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  • Elder Law, Tax Law & Employment Law: Is Live-In Adult Caretaker (For Elderly) An Independent Contractor Or Employee?

    I've been working as the caretaker for an elderly member of my family for a few months. She's still all there mentally, but has required round-the-clock care for years. Before hiring me, she hired several caretakers from various companies--i.e. no...

    Brian’s Answer

    Technically, you most likely an employee. However, this is a facts and circumstances test and can get kind of tricky. For your relative's sake, it is better if you are an independent contractor. That way she does not have to pay any employment taxes or deal with workers' comp insurance. One way to show your status as an independent contractor is to have a contract in place. This is pretty standard practice in the elder law field.

    Be aware, though, that whether you an employee or an independent contractor, taxes have to be paid. The difference is only in who pays them. This can be a little complicated, and I would recommend seeing a CPA to prepare your relative's or your taxes.

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  • In completing my turbo tax electronic filling, what should I use for the sales price, cost basis, and depreciation.

    My 2 brothers and I sold our parent's home for settlement price of $15,000 + $ 400(settlement cost). Very old home with no improvements. I received a 1099-S from the title company with gross proceeds of $5000 listed and no other amounts. We each...

    Brian’s Answer

    I assume you and your siblings inherited your parents' home. In that case, the basis would be stepped up to fair market value (FMV). Also, the IRS generally does not match basis information; they are primarily focused on matching revenues. Be sure that the 1099-S amount is entered properly and separately enter 1/3 of the settlement costs. There is usually a field for selling expenses.

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  • My ex has only visitation rights every other weekend can he claim them on his taxes? He's a bad father and I'm going to file a m

    My ex is abusive to my girls I'm getting ready to file a motion to change things he's behind on child support and barley pays now he wants to get a judge to grant this he has no responsibility's lives with his mom and she's the one buying everythi...

    Brian’s Answer

    Despite many misconceptions, your divorce decree does not control. The IRS uses a test to determine who can claim the child. Here, it sounds like you would win the test and be entitled to claim the child as a dependent. If you both file, then the IRS will likely deny the dependent for both at first, and then ask for supporting documentation. In the end, the IRS will only allow one person to claim the child.

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  • Filing status for tax return

    I am a resident of AZ since last 1.5 yrs and in work visa. I got legally married in India in Nov 2014. My wife is in India and has never come to US. She doesn't have TIN or SSN. In 2014 we have not lived together in US. In this scenario what will ...

    Brian’s Answer

    I know not all international marriages are immediately recognized in the US, but I would think that India is. If the marriage is recognized (which is determined by the State Department), then your status would be married.

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  • My mortgage company does not send me tax statements each year for interest payments made to file my taxes.

    I have a mortgage that I pay each month .the mortgage company does not send statements for interest paid for filing taxes each year. Nor do they send statements each month .amounts paid amounts owed .I have no payment history receipts from their ...

    Brian’s Answer

    I would start with a local (state) consumer protection agency. Each state generally has one, usually in the attorney general's office. Sometimes it is part of the Secretary of State since they deal with business filings. I would check out their websites.

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  • I have recently gotten a divorce and am filing singly this year. Do I have to report the child/spousal sup. if started in May?

    My divorce became final in Aug. I started receiving child/spousal support in May of 2014. Do I claim this on my taxes this year?

    Brian’s Answer

    Child support payments are not taxable income, but alimony / spousal support is. However, if not all payments are made or not made in full, then they can be re-characterized. Also, many things that people consider one form are actually the other according to technical tax laws. I would strongly recommend discussing your payments with a tax professional.

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  • What are my rights as a family member?

    On Dec 6th I had to admit my mom into the hospital where she stayed for a few days since then she has been moved to a nursing home where she has to do physical therapy for 3 to for weeks . Am I her power of attorney of do i have to file paperwork ...

    Brian’s Answer

    If your mother is no longer married, then it would be up to you and your sister to agree on her treatment. Since this sounds unlikely, you should get a POA. However, a general POA is not sufficient for most medical matters. You will need POA specifically addressing healthcare and it should have a HIPPA release in it.

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