Archived
Is it rare that an LLC agreement is reevaluated to adjust shares? If not, could you point me towards some resources?
Ronald's answer
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Answered on December 29, 2014
First, it is a shame you did not have a good tax and business lawyer prepare the Operating Agreement. You should immediately consult with a...
Archived
Is Child Tax Credit a fix amount or it depends on your income?
Ronald's answer
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Answered on December 29, 2014
The credit phases out. The amounts change every year, but it sounds like the income levels you mentioned will not qualify. Your CPA will do the...
Archived
Can I claim him as a dependent?
Ronald's answer
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Answered on December 29, 2014
From the facts, probably not. Since he is not a relative and from the facts presented, you will not qualify. You should, however, check with your...
Archived
Tax question
Ronald's answer
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Answered on December 28, 2014
Gifts between spouses are not subject to Federal Gift tax. Also, if you are in PA, there would be no PA gift tax between spouses.
Good luck in...
Archived
Tax return + dependant
Ronald's answer
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Answered on December 28, 2014
It is simple, you were still married as of December 31, 2013, so you should have filed Married Filing Separately. You could not be a dependent of...
Archived
I never received a check from fund 1 but the irs said i did and now owe tax on it how can i find out who cashed this check
Ronald's answer
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Answered on December 28, 2014
If this was a 1099C cancellation of debt, and it was your principal residence, the New Tax Extenders passed by Congress would make this exempt....
Archived
I live in Florida and am thinking about opening a small personal trainer business. I was thinking of filing as an LLC.
Ronald's answer
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Answered on December 28, 2014
As an LLC, you normally would treat it as a "disregarded entity" for tax purposes. That means you woulf file a Schedule C on your 1040. You would...
Archived
Do I still have to file NY Sales taxes if I moved to PA and sold an item to a customer in CA?
Ronald's answer
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Answered on December 28, 2014
You should definitely file Sales and Use tax returns for each quarter even of they are "O". Also, file a final return for 2014. Speak about this...
Archived
My tax returns arent what I got back
Ronald's answer
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Answered on December 28, 2014
If you have any questions about you tax return, I suggest you hire a new CPA to look at year last few years' returns and to prepare your 2014...
Archived
Can non-income property be claimed (in some way) when filing personal income tax?
Ronald's answer
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Answered on December 27, 2014
Please consult a good real estate attorney in your area. You should consider setting up a LLC to own the property. Then each member would get a K-1...