Archived
If I give my two partners (not family) some of my shares ($250K value) in our LLC can it be tax free by using the Estate & Gift
Dana's answer
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Answered on January 06, 2015
Theoretically it's possible, but the IRS generally does not agree to treat transfers in a business context as gifts and would very likely...
Archived
How do taxes work?
Dana's answer
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Answered on January 06, 2015
You need to speak with a tax attorney who has experience with sales tax issues, especially California sales tax issues.
Archived
I have judgments against me may the person who supports me claim me on their taxes?
Dana's answer
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Answered on January 06, 2015
Generally speaking, the mere fact that someone claims you as a dependent for tax purposes should not make that person liable for your separate...
Archived
Is it taxable?
Dana's answer
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Answered on January 06, 2015
Generally speaking, the portion that was paid on account of physical injuries should not be taxable; any portion that was awarded as lost income or...
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Archived
TAX AUD PROCEEDURE? Would you wait for the irs, go to local irs office, amend 2013 now or wait as it may get selected too?
Dana's answer
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Answered on January 06, 2015
Generally speaking, once you've made a payment to the IRS, the payment cannot be reversed other than through the normal refund process. Putting a...
Archived
Am I allowed to file single if I've only been married a few months of the year?
Dana's answer
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Answered on January 06, 2015
You must file as married. For tax purposes your marital status for the year is generally determined by whether you are married or not married on...
Archived
Do i have to pay back IRS for american education opportunity for my student daughter in 2012 taxes?l
Dana's answer
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Answered on January 06, 2015
If you did not pay the qualifying tuition expenses, then you generally aren't entitled to claim the credit with respect to those expenses. Since...
Archived
Can I sell a Car valued at approx $4000 and buy another car with a salvage title priced at $7000 with a Federal Tax Lien?
Dana's answer
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Answered on January 06, 2015
Generally speaking, the IRS can come by whenever it wishes and seize the car to be sold and the proceeds applied to the outstanding taxes covered...
How founders of a c-corp can report/show and be reimbursed for their incorporation-related expenses?
Dana's answer
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Answered on January 06, 2015
Generally speaking, the tax code treats organizational and start up expenses in one of several different ways depending on the particular...
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Archived
No business activity
Dana's answer
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Answered on January 06, 2015
If the LLC did not engage in any activities, then it has nothing to report. If you were the sole member, then it would generally be disregarded...
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