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Ronald J. Cappuccio's Answers (3707)

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We owe back taxes from 2006. Due to us not being able to pay, they filed a tax lien - since there was not a home to attach the

Ronald's answer | Answered on February 06, 2014

An installment agreement does not extend the statute of limitations. This presumes you actually filed the 2006 return. Please contact a tax...

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Can I file head of household on my taxes?

Ronald's answer | Answered on February 06, 2014

No You are still married. You must file either jointly or married filing separately Good luck! Ron Cappuccio

Archived

For one member pllc , which is more beneficial, to be taxed as a sole proprietor or s-corp?

Ronald's answer | Answered on February 06, 2014

Easy. You want to be a disregarded entity. You will file a Schedule C on your 1040. Please check with a good tax and business lawyer. Good...

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Should I be worried about unpaid taxes when buying an LLC?

Ronald's answer | Answered on February 05, 2014

You should be concerned not only about the IRS but State Taxes. You will have to give a notice to the State Taxing authority in each State, I...

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Is a Buy Out taxed as ordinary income or capital gains?

Ronald's answer | Answered on February 05, 2014

You need an attorney to prepare the Agreement. If it is a sale of corporate stock, it should be a capital gain. LLC membership sales are more...

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Hi, I'm a foreign national. What are the documents required by me to be a part of LLC with a citizen based out of new Jersy.

Ronald's answer | Answered on February 05, 2014

There are no special documents needed. You will need a Taxpayer Identification Number when the 1065 Return is filed. Your tax and business lawyer...

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Writing off business expenses- must I be incorporated first?

Ronald's answer | Answered on February 05, 2014

Yes you can deduct business expenses on your 1040 Schedule C because you are a sole proprietor. Please retain an experienced tax and business...

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I am in Pittsburgh, Pennsylvania and am looking to open a partnership, LLC.

Ronald's answer | Answered on February 05, 2014

You are able to form a LLC regardless of the conviction. You should note that the conviction may have an impact on some licensing issues. Good...

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What tax rate do I pay on rental income on a single family residence property purchased in the US as a foreign investor/owner?

Ronald's answer | Answered on February 05, 2014

The LLC would be a "disregarded entity" for tax purposes (presuming your attorney set it up this way.). You would just file a 1040NR. I suggest...

Archived

Does permanent resident have to file tax return, if he doesn't work?

Ronald's answer | Answered on February 04, 2014

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