Llc vs Corp in Delaware for anonymity and asset protection

First, if you are running the business, this will get discovered by your current employer. Presuming you will have an employee to handle the work,...

Hi, I work as a freelance composer,do I need to make private individuals sign a W9? Or is it only for companies? thank you

It sounds like you have things reversed. You only need a W-9 or 1099 when you PAY someone, not when you are the supplier. I hope this...

Tax season

Yes, married couples can always file their income taxes as Married Filing separately, although this may not be the best choice. It sounds like your...

I recently sold a John Deere Tractor for $12,000.00. Do I have to report this as income?

Did you expense the tractor in the year purchased? If so, your basis is "$0" and you would have gain. If you never deducted the tractor, nor...

I live in Morocco and i own a business in (DE) US ... I got an ITIN Number should i do my taxes return as well?

Yes, if you have US income. You did not state whether the business is a corporation or LLC. Please retain a good tax and business attorney. I...

Are comps to performers taxable?

Since the hotel room comp is for the venue where there are doing the show, it is probably not taxable. I presume the gift cards are for meals and...

Normally, you will keep the same EIN for the LLC taxes as a partnership. You and your fellow member should have an attorney prepared agreement....

LLC: only income in 2013 was $300 from a bank as a promotion. I did not fill up Form 1065. What should I do?

Have your CPA prepare a 1065 for 2012,2013 and 2014. If you are not using the LLC, you should have your attorney dissolve it, Good luck! Ron...

My business is being aduited by the its. What should I do?

You immediately need to retain a tax LAWYER, not a CPA. In case there is a potential fraud issue, you need attorney-client...

Tax preparer says he's being audited .

The IRS does audits of Tax Preparers to make sure they have support for clients claiming the EITC. This is a special program with the IRS and is...