Can one hypothetically form an LLC in another state to avoid high capital gains tax on trades?

incorporating and establishing a nexus in Nevada will not shield you from FEDERAL capital gains taxes. This income is sourced to the US, and as...

Was I required to file federal income tax in 2018 and 2019?

It depends on your filing status. Normally you are not required to file a return if your income did not exceed your standard deduction in either...

What federal and state taxes do you pay on non income LLC

You should not owe federal or state income taxes, although the LLC may have a filing every year with NYS which would require a nominal minimum...

Should you pay taxes on money earned from selling drugs?

keeping with the al capone theme - i think you need to consult privately with a criminal defense attorney so that any statements made are preserved...

For a non Custodial parent , how does a dollar for dollar credit get applied when there are loans and grants

had to read through the question a few times to make sure i understood it. First of all, you are correct in that the scholarship would not...

The IRS Criminal Investigation Division has limited resources and cannot assign agents to chase every tip that comes in the door. Therefore, in...

Sister passed away, I’m the last blood relative, her name is on house title, can I get this property?

If property is in NY State (and assuming no will), NY EPTL §4-1.1(a) states the surviving spouse would get it all. Agree with counsel above; fact...

while i agree with all of the answers above, my personal experience is that going through the IRS taxpayer advocate may be the quickest way to...

Yes - if the estate assets generate > $600 of income, it has to file its own income tax return - a Form 1041 (which would be due 4/15/2020 for...

this can get pretty complicated; I would strongly recommend you consult with an experienced estate planning attorney - there are so many variables...