Does the Operating Agreement of an LLC have to be signed by an attorney to be legal or just by its members?
Ronald's answer
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Answered on February 03, 2018
No, your attorney does not usually sign the Operating Agreement. If you are trying to do this yourself, you are making a mistake. Please retain a...
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How do taxes work if you were only paid with equity for an early stage startup?
Ronald's answer
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Answered on February 03, 2018
The equity may be income. Valuation will be an issue. Also, your expenses may be either employee business expenses or Schedule C expenses. Please...
Archived
Can my husband file his taxes without me now that we are separated & he is filing for divorce?
Ronald's answer
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Answered on February 03, 2018
Yes, you may both file individually as "married filing separately." This way you are not liable for each other's taxes.Good luck with your...
Do I have to pay tax on rental of my mother's home?
Ronald's answer
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Answered on February 02, 2018
Yes, your mother gave you a gift but your choice to rent out and get and earn income means that it is taxable income for you. You will have to...
Is it illegal to pay someone off the books?
Ronald's answer
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Answered on February 02, 2018
First, do not write questions like this in a public forum. It is potentially criminal and could be an issue. The advice given by others on this to...
What to do if company did not send you 1099 form for tax return?
Ronald's answer
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Answered on February 01, 2018
Even though the company should have given you a 1099, it is not needed to file your 1040 Schedule C. You should have a tax professional prepare...
Forming an LLC in PA or NJ?
Ronald's answer
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Answered on February 01, 2018
Possibly neither state. It depends exactly what you do. If your work is all online, you may choose another jurisdiction besides New Jersey and...
Archived
BF has IRS liens, if I add him as co-owner to bank acct can IRS come after him for funds in joint acct?
Ronald's answer
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Answered on February 01, 2018
Yes, that is not a good idea. If you have a joint account the IRS and the state will consider it to be all his money and could levy the entire...
Archived
Can I give a tax free gift to a kind lady who has been coming to our house to take care of my bedridden wife at no cost.
Ronald's answer
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Answered on February 01, 2018
I am glad this is out of the kindness of your heart, but it looks like compensation for services rendered. You, therefore, will be considered her...
Archived
Will the IRS give me my 2017 refund filed?
Ronald's answer
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Answered on February 01, 2018
It is possible, but not likely at the IRS will withhold your 2017 refund. Since the taxes not yet assessed for 2015, they should not hold it unless...