Can I use "Jersey" in my business name in New Jersey?: Can I use "Jersey" in my business name in New Jersey? Like Jersey Gold, LLC (made up example)?
Ronald’s answer:
You may use the name "Jersey" but the use may already be taken. You should consult with a good tax business lawyer to determine the best business structure and also discuss names and alternate names.
I hope this helps!
Ron Cappuccio
Is there a statute of limitation on 6694 penalty collections?: How long does the Commissioner have to collect on 6694(b) penalty? I was issued a 6694(b) penalty in 2013. I filed a IRS Form 6118 in May 2014 (timely filed). Acquired documents note that the IRS did nothing with the abatement request till they were contacted by the TAS office in 2019. Acknowledged that no 105C Letter was issued denying the request which would have allowed the matter to be addressed in US District Court within a Appeals Case Memorandum. This was acquired thru FOIA request. The IRS then moved to place a levy on the penalty in 2022. A hearing was requested and as a result the examiner falsified claims that a response was given to a OIC request that was never submitted. Reported this to TIGTA and filed a petition in US Tax Court requesting this levy be dismissed. Commissioner missed deadline to file answer. Filed a motion to for summary judgment citing the fact that the administrative process was miss. Commissioner filed answer in October 2022 stating matter had been moved to appeals and they would contact in 60 days. It has been 7 months and still no word. Is the IRS stalling because it knows it missed the deadline if there is one?
Ronald’s answer:
I know you want a simple, "off the cuff" answer you cannot get it here or anywhere else. You are going to need to hire a tax attorney to review all of the documents and the circumstances in order to give you an opinion.
I know this is not what you want to hear, but I hope it helps!
Ron Cappuccio
How do I start a side hustle legally?: I have a full-time job. I do not work weekends. I want to start buying used furniture on the weekends, refurbish it, then resell it for a profit. Dealing with all only private parties through Facebook Marketplace, Craigslist, etc. What proper legal channels do I need to go through to do this? How do I pay taxes on this income? I would prefer to do this as minimal as possible; I don't want this to be a full-fledged business just something to earn a little extra cash.
Ronald’s answer:
There really is no such thing as a " side hustle." You are either in business or not! Even though you do not want to spend money setting up your business the right way, in the long run, that is the best move. I suggest you contact good tax a business lawyer to set up a limited liability company.
I hope this helps!
Ron Cappuccio