Archived
Can outside investors invest in a single member llc, with the investment not being debt and the single member status maintained?
Dana's answer
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Answered on August 25, 2014
If your family receives membership interests in the LLC in exchange for their contributions then the LLC will no longer be a single-member LLC and...
Archived
Should I bother filing Fbars that are past statute of limitations? Does this affect income tax returns and their statutes?
Dana's answer
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Answered on August 25, 2014
The answer will depend on what the lawyer you hire to review your entire situation says. Given that you have FBAR issues going back more than 6...
Archived
I'm looking at purchasing a single member LLC business. She hasn't filed taxes; I want to make sure I'm not responsible.
Dana's answer
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Answered on August 25, 2014
You absolutely must consult, at least briefly, with a good tax/business attorney in your area. There are way too many potential issues - in any...
Archived
Actual resident for tax purposes: what constitutes presence in the state for 183 days?
Dana's answer
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Answered on August 25, 2014
I am not licensed to practice in VA but, as a general matter, the use of the term "maintains a place of abode" is intended to catch people in...
Archived
Gifted my stepdad a car, when he went to get title, state attached lien for unpaid taxes.
Dana's answer
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Answered on August 25, 2014
The lien means that the State now has told the world that it gets first dibs on the car, or on the proceeds from any sale of the car; it also means...
Archived
Why is NYS taxation claiming I owe STATE INCOME TAX in excess of 12,000 when my 2009 return shows a refund amount ?
Dana's answer
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Answered on August 25, 2014
Unfortunately this sounds like a complicated situation and the only way any attorney could give you an answer would be for that attorney to review...
Archived
My business is registered in USA. I want to know about the taxes, if I do business out of country.
Dana's answer
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Answered on August 25, 2014
The short, but very unhelpful, answer is: to whichever country or tax agency that has jurisdiction to impose a tax on you for your business...
Archived
What version tax form should I use to file delinquent information returns like 5471?
Dana's answer
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Answered on August 25, 2014
Mr. Gray has given you good advice. I would second his recommendation that you consult with a good tax attorney in your area because there are...
Archived
Gift from overseas. Is it taxable?
Dana's answer
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Answered on August 25, 2014
Mr. Gray has given you good advice. Receipt of the gift, in and of itself, should not create a taxable event for you. However, given the amount,...
Archived
For the IRS offshore dislcosure programs, can I advise that I want to enter, but that I need time to prepare filings?
Dana's answer
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Answered on August 25, 2014
There is. The first thing to do is to hire a good tax attorney who has experience with the OVDI (offshore voluntary disclosure initiative). As...
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