Archived
Will being incorporated hinder me in getting a partial pay installment agreement on back personal taxes?
Ronald's answer
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Answered on March 27, 2015
First, you do not want to do anything that will extend the statute of limitations on collection for your personal tax that you owe. This would...
Archived
How do I find out who claimed me as their wife on a tax return?
Ronald's answer
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Answered on March 26, 2015
Most likely it is a transposition error on the other person's tax return. Have your tax professional file the paper return with a special note...
Archived
H&R block did my taxes wrong for 2013 by putting the wrong social, so now I cant not file for 2014 through turbo tax.
Ronald's answer
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Answered on March 26, 2015
I personally would avoid H&R Block and the other franchises, and TurboTax, and go to a full time tax professional to solve your problem.
Good...
Archived
As a new franchisee for a water/fire restoration co., I'm debating the use of S-corp vs. LLC. I am the sole owner.
Ronald's answer
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Answered on March 24, 2015
The LLC is absolutely the best way to set up your business. As a disregarded entity, you do not get a payroll. Instead the profits are reported on...
Archived
Can wholesaler sell directly to the end consumer ?
Ronald's answer
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Answered on March 24, 2015
Yes, you can be both a distributor and a retailer. Remember, you may need to collect sales tax for retail sales. Also, you wholesale customers may...
Archived
Sales Tax Collection
Ronald's answer
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Answered on March 24, 2015
This is a hot area of tax law and subject to constant change. The various states are trying to make claims for both sales tax and business taxes. I...
Archived
Federal Income Tax Lien
Ronald's answer
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Answered on March 21, 2015
The IRS tax lien only lasts 10 years. If the IRS is not pushing collection and it is nearing the Statute of Limitations, I would not push it. The...
Archived
If I have 12 ml worth of stock at the time of my death, in order to qualify for step-up basis, do I have to put them in a trust?
Ronald's answer
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Answered on March 19, 2015
This is too complicated for a quick, online answer. You need a good estate tax lawyer to plan your estate and financial issue.
I hope this...
Archived
A deposit showed up in my account from the IRS unexpectedly, can I use the money?
Ronald's answer
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Answered on March 18, 2015
Obviously something is wrong! Do not spend the money because it is not yours and you could end up owing the IRS penalties and interest as well as...
Archived
LLC Legal setup for NRA in regards of taxing.
Ronald's answer
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Answered on March 18, 2015
In your own country that might be the wisest move for tax purposes. If you set up the US entity, it is clean and be subject to US taxes on...