If I am sole owner of a company - does my spouse get half of the company if we divorce

NJ has "equitable distribution." It is not a split of the assets. Please see a family lawyer. I hope this helps! Ron Cappuccio P.S. I am...

Non-Profit wants to start selling goods for profit - what is the best way to accomplish this?

This is a complex area of Non-Profit tax law."Unrelated Business Income" is taxable and causes headaches for non-profits. (I actually gave a...

Outsourcing Tax

No, usually not. Depending on the State, you may have a Use tax obligation. You should review this with your tax and business attorney. I hope...

If I am starting a company, what would be the advantages of forming an LLC over a sole proprietor?

This is a "no brainer". The LLC adds one layer of protection with the same tax treatment as a sole proprietor. You need to retain a good tax and...

Is it correct that my 2014 1099 includes payments for work done in 2013 but payed in 2014?

This is absolutely correct for a cash basis taxpayer. Income is when received not when the work is done. Ron Cappuccio

Realty Transfer Tax Question NJ

It depends on when it was inherited. There are a number of exemptions. You should review this with your real estate attorney. Good luck! Ron...

Are 'Origination Charges' on a closing statement for a new home tax deductible? Is Title insurance?

The title search, insurance, filing, etc are not deductible. Points, interest and taxes would be deductible. Ask your Real Estate attorney to...

It does not prevent you IF your tax attorney can get the State and IRS to discharge the property from the lien. This takes time and work. I hope...

Who gets paid first from a judgment? IRS, State Of New Jersey Division Of Taxation or judgement creditor

First, you should have contacted a tax lawyer before the judgments against you. At this point, you may want to consult a bankruptcy attorney. I...

What is a 2848 form for the IRS?

The 2848 is a Power of Attorney permitting the IRS to speak with your lawyer. If the lawyer no longer represents you, a copy of the 2848 is filed...