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Ronald J. Cappuccio's Answers (3707)

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Archived

How should I answer this question? (I assume no but i just dont understand the sentence)

Ronald's answer | Answered on April 15, 2016

This is a complicated form and issue. You really need a good tax lawyer to help you answer these questions. This is a nice warm, but it is just...

Archived

Can I claim yard sale profits as income on my 1040's?

Ronald's answer | Answered on April 15, 2016

You may want to file a Schedule C so you can deduct your expenses. I don't know if this is a business or just 2 yard sales a year. ALso, if you are...

Archived

How does someone get a Federal tax lien on motor vehicle lifted when the property is damaged and is being sold?

Ronald's answer | Answered on April 15, 2016

On the individual seller and probably not on the bike specifically. There is a process for having the bike released from the lien, but it is quite...

Archived

What are the requirements/limitations of creating a branch company in US from Iran? What permits should I apply for?

Ronald's answer | Answered on April 14, 2016

It may be easier to have your tax and business attorney form a US entity, such as a corporation or LLC, which could be owned by you individually or...

Archived

When filing 3 years BACK taxes, Turbotax asks for our mailing address. Should I enter our former or current address?

Ronald's answer | Answered on April 14, 2016

I am glad you feel comfortable with TurboTax. From your situation, it sounds far too complex for TurboTax unless you happen to be a tax expert. I...

Archived

DOES A PAYER NEED TO PROVIDE PAYEE 1099 FORM OR OTHER FORM AFTER MONETARY SETTLEMENT?

Ronald's answer | Answered on April 14, 2016

It depends the kind of case. If it is simply a collection action or damages action, then normally a 1099 is not file. If it is an action for...

Archived

I haven't filed my 2014 taxes. What forms should I use to file 2014 taxes (Federal, CA and NY)?

Ronald's answer | Answered on April 14, 2016

Take your information to a CPA or professional tax preparer to prepare both the 2014 and 2015 returns. The software they have will make it easy to...

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What's the maximum # of properties that can be purchased with 1031 exchange proceeds? Is it up to 3 properties?

Ronald's answer | Answered on April 14, 2016

There is no maximum under some circumstances. Talk to your tax lawyer before you do anything!

Archived

How do I go about getting a lien on my personal account lifted ? My business was listed as an LLC. Do they have a right

Ronald's answer | Answered on April 13, 2016

Unfortunately, it sounds like you have terminated your LLC and with it some of the protections that you otherwise would have had. You need to...

Archived

As has US not resident a fiscal importance there to choose a state rather than an other one?

Ronald's answer | Answered on April 13, 2016

Are you sure you want to be a US business? If so, that means you are going to be subject to taxes in the US and in the states for you do business....