Archived
What is the best business structure if a few people are interested in investing in RE together, but we might ADD people later?
Ronald's answer
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Answered on March 14, 2016
No, you can add additional members to an LLC just like you can to a corporation. First of all, real estate is much better in a limited liability...
Archived
What can I do to avoid any personal obligation or liability on my future wife's existing federal and CA state tax debts?
Ronald's answer
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Answered on March 14, 2016
Technically, no...but. If you and your new wife file jointly, the IRS can take the entire refund due, even the part owed based upon your income....
Archived
Tax question regarding a new home
Ronald's answer
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Answered on March 14, 2016
First, whether it is a single-family home or a multifamily home, you cannot deduct the entire mortgage costs. Rather you can only deduct the...
Archived
Is my wife an employee or a sole proprietor? Should I beclaiming her income as a business income,or continueto claim its wages?
Ronald's answer
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Answered on March 14, 2016
It is customary in the beauty industry that hairstylists and other service providers are considered independent contractors. The reason for this is...
Archived
What are the top 5 things I need to have in place legally to start and run the business?
Ronald's answer
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Answered on March 14, 2016
The first issue is what type of entity needs to be formed and where you want to form it. This is something you and your tax and business attorney...
Archived
Can FOREX investment losses be deducted?
Ronald's answer
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Answered on March 13, 2016
The losses can be deducted from gains. Also, $3000 of Long term Capital loss can be written fo annually. You should have a professional tax...
Archived
What is the best way to protect my new business assets from the old landlord trying to collect? By a opening anew S. Corp or LLC
Ronald's answer
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Answered on March 13, 2016
Your old entity is still liable. If you transfer any assets, the new entity could have liability. Please, retain a good tax and business attorney...
Archived
For a Tax Professional to answer, what do i need to do to resolve issue
Ronald's answer
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Answered on March 13, 2016
Please hire a CPA or professional tax preparer to help you file your return. THis is not a do-it-yourself project unless you want to spend a lot of...
Archived
Questions above
Ronald's answer
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Answered on March 13, 2016
What you are missing is that you need a good tax and business attorney to review your business idea, help decide where the business should be...
Archived
Tax situation for LLC
Ronald's answer
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Answered on March 13, 2016
Theoretically, you would have to file a short year 1065 for February to June 2015. Practically, if you file as married filing jointly, you could...