Archived
As a licensed clinical alcohol and drug counselor (LCADC) should/can I form either an LLC or professional corp in New Jersey
Ronald's answer
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Answered on January 06, 2013
Yes, you can form a Professional Corporation or LLC, depending on which authority does the licensing. If possible, you should have your tax and...
Archived
Can someone else form an LLC named ABC LLC in my state if I've previously incorporated as ABC Consulting Inc?
Ronald's answer
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Answered on January 06, 2013
First, you are dealing with a particular issue with the NJ Department of Revenue. It prohibits EXACT duplicates. In your case, NJ lets similar...
Archived
How do I remove my name from an LLC?
Ronald's answer
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Answered on January 06, 2013
First, you should speak with your divorce attorney. The transfer of the LLC can be part of your divorce settlement. I am concerned, however, that...
Archived
Which is a better state to live in for a retired widow, from a tax perspective: GA, SC or FL?
Ronald's answer
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Answered on January 06, 2013
The tax rates are relatively low in each State. How much income and how much of an estate to does your mother have? If the estate is substantial,...
Archived
Do I have to pay a gift tax when I remove my name from the house my daughter bought
4 years ago ? She is refinancing now.
Ronald's answer
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Answered on January 06, 2013
Since you were on the mortgage loan, it could be argued that some of the equity is attributable to you. If the house has not gone up in value,...
Archived
I inherited a house and barn that has a lot of stuff in it with a good amount of value. If I sell the contents do I pay tax on
Ronald's answer
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Answered on January 06, 2013
Presuming that you are selling the assets at the value listed on the estate or inheritance tax return, there would be no gain. If you sell it for...
Archived
My grandfather & uncle owned a cabin. They willed it to there children. My uncles children haven't paid any taxes since 1976.
Ronald's answer
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Answered on January 06, 2013
Please immediately talk to a local real estate attorney in the State where the property is located. Most likely, the property has been sold at a...
Archived
Do I file taxes for my new 2012 LLC start up biz -"kit homes". I had a loan & expenses- tools, materials for R&D but no sales .
Ronald's answer
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Answered on January 05, 2013
You will file an additional Schedule C for your new business with your 1040. This way, you can take advantage of the expenses and deductions for...
Archived
How long a tax payer required to keep the documents in support of his federal and California returns?
Ronald's answer
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Answered on January 05, 2013
You should always keep your tax returns. This way, if they are lost in the IRS or State computer system, you will have a copy. You should keep your...
Archived
W-4
Ronald's answer
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Answered on January 05, 2013
Yes, you may use the 2012 W-4. Remember, the 2% Social Security tax reduction was eliminated, so you will pay more tax. Depending on the income of...