Questions answered by Ronald J. Cappuccio

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Do I keep my tax returns indefinitely until I sell my rental property to prove depreciation & expenses incurred?

Ronald's answer | Answered on December 11, 2014

The smartest move is to keep tax returns forever. They could be a scanned copy or a paper copy. The reason why you want to keep the tax return is...

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During the OIC process, will the IRS ask to 'refresh' the 433a and bank statements at time of consideration?

Ronald's answer | Answered on December 11, 2014

Yes, you will need to submit an updated 433A and supporting information.Having your bank statements from a business account will be confusing at...

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Assume that XYZ Co., an Arizona corporation, establishes an office in France by incorporating a French company.

Ronald's answer | Answered on December 11, 2014

This sounds like an exam question. Sorry, but do not expect us to answer. Ron Cappuccio

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Capital gains

Ronald's answer | Answered on December 11, 2014

First you need a good local real estate attorney. $250k of the portion that is personal residence will be excluded from income, the balance will be...

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Can i remove my signature from a conveyance document that is sealed ?

Ronald's answer | Answered on December 11, 2014

"Sealing" is not the issue. If you have the deeds and they are not recorded, they are not "delivered" and are not complete. You need a good...

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Does business trust set up in CA has any tax advantage?

Ronald's answer | Answered on December 11, 2014

Business Trusts do Not save taxes! Many times, they are promoted as part of tax savings scams. A real business trust may be useful, but most...

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Is there any taxation exposure in the US for a dual citizen on a New Zealand inheritance given the new FATCA laws?

Ronald's answer | Answered on December 10, 2014

You and your wife are both required to file annual 1040 income tax returns. Depending upon the actual terms of the trust, the distribution may...

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Every 6 month or less my parents from Iran are sending money around 8,000 $ for paying my rent do i need to inform OFAC or IRS ?

Ronald's answer | Answered on December 10, 2014

It does not seem like this level of gift would cause the need to file a form with the IRS revealing US gifts. If you have a specific question, I...

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Can you help to start-up a international business in US?

Ronald's answer | Answered on December 10, 2014

Setting up a US entity should not be a problem. Most likely, the parent company will want to have a corporation rather than a limited liability...

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As executrix what do I need to do to remove the decedent's name from a 2 member LLC and release the LLC to the remaining member

Ronald's answer | Answered on December 10, 2014

First, you should request that the remaining member of the LLC provide you with a copy of the operating agreement and all resolutions. You should...

Ronald J. Cappuccio's Answers (3707)

Do I keep my tax returns indefinitely until I sell my rental property to prove depreciation & expenses incurred?

During the OIC process, will the IRS ask to 'refresh' the 433a and bank statements at time of consideration?

Assume that XYZ Co., an Arizona corporation, establishes an office in France by incorporating a French company.

Capital gains

Can i remove my signature from a conveyance document that is sealed ?

Does business trust set up in CA has any tax advantage?

Is there any taxation exposure in the US for a dual citizen on a New Zealand inheritance given the new FATCA laws?

Every 6 month or less my parents from Iran are sending money around 8,000 $ for paying my rent do i need to inform OFAC or IRS ?

Can you help to start-up a international business in US?

As executrix what do I need to do to remove the decedent's name from a 2 member LLC and release the LLC to the remaining member