Taxes on home sale if under one year of primary residential ownership.

Yes, you would pay ordinary income on any gain if you make settlement owning the property for less than a year. I don't know what the Houston...

W-9

The W-9 is required to certify the correct Taxpayer ID #. This would certify the Trust's TIN to the brokerage firm. No big deal. I hope this...

I want to sell my Business. Want to know options when it comes to how i can save money from taxes on the sale of my business!

First, you will not loose 40% in taxes. Even if you were a sole proprietor, you would have your basis in the assets of $67k, depending on additions...

Sales Tax for international sales

You will have to pay income tax on the business income. Sales tax is really complicated. If you have a US based business, you may be stuck paying...

You should consult with a tax attorney first. Attorneys are trained to negotiate and understand that IRS audits are not simply a revelation of...

Opening aLLC

First, please check if you have an employment agreement with a covenant preventing competition. It sounds like you may actually be competing with...

Which Taxpayer Identification Number is good to register a sole proprietorship for non-resident?

First, you do not need to register anything in the US. Even though you are selling to US customers, you stated the sales are online and being sold...

Do capital investment gains in a general partnership require self employment tax?

Presuming your partnership files a 1065, US Partnership Income Tax Return, the income and the character of the income (such as long term capital...

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Should we try not to pay a contractor more than $10,000 in any year to avoid IRS investigation?

Thank you for your question and concern. Nevertheless, I think it is a little misplaced. If you are a homeowner, you are not required to issue a...

US citizen living abroad didn't return taxes for the past few years. How can he fix this situation?

All US citizens are required to report worldwide income to the IRS. Even though your husband did not make any income in the US, he still may owe...