Can statute of limitations apply to state taxes?

When NJ obtains a judgment for taxes, they have 20 years to collect. They also, routinely, renew the judgment. You should contact a good tax...

Normally, I would have my clients set up one LLC to be the management company and another to actually own the different units. This would be to...

If you have4 properly registered the Alternate Name for the LLC that should be sufficient. You definitely should have the LLC full name on the...

How to start a business with a foreign partner residing outside of USA?

There is no requirement to be a US citizen or resident to own a business in the US. You could start another LLC, or possibly a corporation, with a...

Do I have to register my LLC in the state that I reside in?

No, since the business is solely operated in NJ, the NJ LLC would be fine without registering in your home State. You will pay tax on the income in...

What is the best course of action ?

I suggest you speak with a professional tax preparer or CPA and not the big box franchisees. You want someone full-time. I hope this...

Looking to buy a spa business from owner by method transfer of ownership. Will I be responsible for their tax due?

Yes, you can be responsible two ways. First, if you buy the shares of the stock in the corporation, the corporation will continue to have all of...

Are my interior design business wardrobe costs deductible as a business expense?

Your personal clothing is not deductible. If it is regular clothing, even though you may wear it for business, it is not deductible. For example, I...

If you go to Court, the judge will make you sign a W-9, so why not just do it?

DO I FILE SCHEDULE C AS A SOLE PROPRIETOR AND A SEPARATE ONE AS AN LLC

You should file a separate Schedule C for each EIN. If not this will cause confusion and the IRS and State Taxation agencies will search for the...