My husband and I need help deciding to register our business as a Partnership or Qualified Joint Venture.

Clearly you should set up the business as a limited liability company. There is no reason that you should have personal liability like you would...

Paying for a "girlfriend" is not tax deductible. It would be interesting trying to explain this to an auditor from the IRS. Maybe you should...

I am in a 50/50 LLC partnership.

The reason why these expenses written off by the LLC is that you are a partnership for federal tax purposes. That means the money that you spent...

Does a NRA single member of LLC have to pay Federal Taxes on income generated in India for IT Services provided to US clients?

Your Hunch is wrong! As a single-member LLC, you normally would be treated as a disregarded entities for federal tax purposes. That means that...

Should I file a 2013 tax return if I didn't work but owe back taxes for prior years?

You absolutely MUST file a tax return to stay in compliance and maintain your "Currently Not Collectible" status. This will also start the statute...

Tax file for LLC with only family members

It sounds like a partnership for Federal Tax Purposes. Why did you use this structure? I suggest you review the LLC documents, including the...

I am interested in forming a company with one of my peers. Would I want to be in a partnership or should we be members of an LLC

You should definitely have the added layer of protection of a LLC!!!! You will be treated as a partnership (filing 1065) for tax purposes. The net...

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What are the legal ramifications of not filing a tax return for 2 years?

You must file the tax returns! I explain repeatedly every adult should file a tax return every year, even if there is no income, just to start the...

Does my husband's LLC need to file a partnership return in all the states where the product is sold?

This is really a complicated tax question based upon the facts. Merely selling a product in a State does not usually created nexus, but it can if...

We are an independent c-corp. Would like to become a wholly owned subsidiary of a US company. How is this accomplished?

I am not sure what you are trying to accomplish. If you are selling your business in exchange for stock in the buyer, this can be accomplished in a...