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Hello,
I have been audited as a Small Business Owner/Sole Proprietor business. but IRS don't respond my letters after notices.
Ronald's answer
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Answered on January 04, 2017
Unfortunately, you may have waited too long. The certified letter you received was probably a "notice of deficiency" which gives you 90 days to...
Archived
Is there a form to the irs to show I got less than 5 million from a living parent.
Ronald's answer
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Answered on January 03, 2017
First, you need to make sure this is authorized under the Power of Attorney. Secondly, your parent would need to file a 709 US Gift Tax Return....
Archived
I filed a 10.99 for $3,200.00 for 2014
I received a letter from the irs saying I owe $768,000.00 in past due taxes
Ronald's answer
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Answered on January 03, 2017
You need a tax lawyer. Obviously, there is some mistake either in the 1099 or your filing (the company may have reported your gross earnings and...
Archived
How do I properly set up a single member llc loan to the member (myself)
Ronald's answer
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Answered on January 02, 2017
As a single-member LLC, presuming you are a disregarded entity for federal and state tax purposes, you do not "loan" yourself money for tax...
My only income is from pet sitting and walking, cleaning and child care but I don't have a registered business. Can I file taxes
Ronald's answer
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Answered on January 02, 2017
You MUST file a Federal (and possibly State) income tax return. Since you are self-employed, you will be able to deduct certain business expenses...
Archived
Do I have to pay taxes on a cash gift from an aunt in the amount of 14000
Ronald's answer
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Answered on January 01, 2017
No. There is neer a gift tax on the recipient of a gift from a US citizen. I suggest that you and your aunt talk to a tax and estate attorney to...
Archived
If a small Chinese business website sells goods to a few USA customers - is any USA tax due? How to file it?
Ronald's answer
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Answered on December 31, 2016
Well, you are probably doing business in multiple States in the US. Each State may have Sales and Use Tax, Income Tax and other taxes.This is in...
Archived
Can I file my tax returns even though I only worked for two months?
Ronald's answer
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Answered on December 31, 2016
Yes, all adults should file a tax return every year. If you do not file a tax return, there is not limitation on the IRS auditing you for that...
Archived
Which state should I start a LLC in for a condo short term rental business?
Ronald's answer
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Answered on December 30, 2016
Probably, Florida because that is where the property is located. FL does have some crazy LLC laws and taxes. Also, you may want to have the LLC...
Archived
Will I acquire any tax debt accrued by a sole propriety, "Doing Business As", business transfer to me when I business?
Ronald's answer
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Answered on December 30, 2016
You can be personally liable for both federal and state taxes, depending upon the kind of taxes they are. In most states the failure to pay sales...