Must I file taxes if I have no income?

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...

I own two multifamily LLC's. Can I give myself or my wife a salary from the LLC and deduct state, federal and social security ?

A salary is not permitted. It is possible to have a distribution of a fixed amount that could be treated as a salary. Otherwise, all of the...

What business strutcure should I choose for my residental cleaning company?

A limited liability company is the most flexible form of organization for both tax and business purposes. Most likely that would be a smart choice....

Should I have an investment property under an LLC

The answer is a no-brainer - acquire the apartment in a LLC that is treated as a disregarded entity for tax purposes. You have a layer of...

I want to start company in partnership with non us citizen , he is from india . tell me what should i do ?

Your question is not as difficult as you think. You should have your tax and business attorney set up the correct form of entity, most likely a...

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Starting a new business. When applied for EIN # it changed us fm LLC TO MULTI MEM partner should we file 8832 to make it a corp

Please do not elect corporate treatment. As a multi member LLC you will file a 1065 Partnership return. You really need a tax and business lawyer...

How does gross income to single member LLC show up on the owner personal tax return?

Presuming you are "disregarded entity" for tax purposes, you will file a 1040 Schedule C. This is the IRS link to the Schedule C...

What are the most obvious pitfalls when starting LLC paperwork for a home business using an established online service?

There are so many problems with the "do-it-yourself" approach, I do not know where to begin. In the last 10 years, since States have been offering...

I have back taxes owed to the IRS. I am on a approved installment agreement. These taxes were based on married filing separate.

It does not affect your taxes, but the IRS will hold the entire refund, even on the amount that would go to your spouse. Have your tax return...

It always amazes me how accountants try to practice law and do things far outside their education and training. You definitely should have used a...