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I think my sister's husband has taken a life insurance on her without her knowledge. How can I find out if he did or not.
Ronald's answer
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Answered on January 05, 2018
Your sister's husband has an insurable interest, and many newly married couples get term life policies. They should also have Wills/Estate Plans...
Archived
Received a modest amount of money to form my business from a friend, tax implications?
Ronald's answer
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Answered on January 05, 2018
You did not state whether this $5000 was a gift or loan. In any case, it was made personally to you, not the business. Therefore it is your...
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If my Client does not file 1099 with IRS and does not provide me with one how I (business owner - s corporation) report income?
Ronald's answer
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Answered on January 05, 2018
Because you are operating as a corporation, your client does not have to give you a 1099. You would keep the records of your income and expenses...
Archived
What structure do I select for my multi-member LLC between myself and another LLC to rent property?
Ronald's answer
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Answered on January 04, 2018
You want to choose 1065 partnership status so the income and expenses pass through to the members. You are making a mistake not having a good tax...
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Received a fine from IRS because of a former employers negligence can I have that fine put onto him or his company?
Ronald's answer
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Answered on December 29, 2017
Unfortunately, you did not defend this when you were audited. You could have insisted the Revenue Agent Summons the records. You state you...
What is the best state in which to form a real estate investment LLC if one member is in CA & the other is in FL
Ronald's answer
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Answered on December 28, 2017
The State where the real estate is located should be the location of the LLC for that asset. You may have a parent LLC that owns the membership...
Archived
Is it legal for me to file taxes in the USA if I’m not a citizen ?
Ronald's answer
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Answered on December 28, 2017
If you have US source income, then you will have to file a US Non-Resident return. Please discuss this with a tax attorney.
I hope this...
Archived
What is the best way to go about incorporating my current business?
Ronald's answer
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Answered on December 27, 2017
As a hairstylist, and I presume a licensed cosmetician, you have personal liability for your actions. If you do not intend to hire someone to help...
Archived
Can I file IRS Form 1099 for my self in my company ?
Ronald's answer
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Answered on December 26, 2017
You would not file a 1099. If you are sole proprietor, you would file a Schedule C as part of your 1040 which would reflect the income. If you own...
Archived
When your married, do you have to file together??
Ronald's answer
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Answered on December 24, 2017
When you are married, you can file either married filing jointly or married filing separately. Your professional tax preparer can prepare your...