Archived
Are gifts from foreign aliens taxable? Are they included as part of my income for the year when I will be doing my taxes?
Kenneth's answer
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Answered on June 30, 2016
It depends on how the person giving the gift is giving it and what the gift is. You should speak with a CPA or tax attorney who handles...
Archived
W-4
Kenneth's answer
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Answered on June 30, 2016
Yep, you enter one on line A and one on line B. The W-4 determines withholding. If you are under withheld, you will owe more in taxes next April,...
Archived
Do we need to pay tax for donation?
Kenneth's answer
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Answered on June 30, 2016
While the application is pending, you can treat a 501(c)(3) as exempt. Upon approval, tax exempt status applies retroactively to the date of...
Archived
Do I pay Self-Employment Tax or only Income Tax / Capital Gains Tax?
Kenneth's answer
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Answered on June 30, 2016
First, you want to make sure that the intellectual property is handled as a capital contribution and not a sale. A sale would be taxable, capital...
Can someone report to irs for being paid under the table?
Kenneth's answer
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Answered on June 30, 2016
Someone saying pay me or I go to the IRS is probably scamming you. Ignore them, tell them to go away, or if you feel that you are threatened by...
Archived
Who is the best type of legal advisor to speak to about getting IRS back owed taxes lowered or dissolved?
Kenneth's answer
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Answered on June 30, 2016
You would want to contact a local low income taxpayer clinic or call one of Florida's law schools and ask for a referral to their legal clinic....
Archived
Do I need to file an amended return for the winnings I forgot to claim
Kenneth's answer
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Answered on June 30, 2016
Yes, especially if the online companies sent a 1099. Those forms are computer matched, so you may get a letter about under-reporting income. The...
Archived
Can I e-file 2015 1120S and 1040, when I'm mailing in amended 2014 1120?
Kenneth's answer
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Answered on June 30, 2016
I don't see why not. For a paper return, make sure that the return is sent USPS Certified Mail and that you retain the Certified Mail receipt for...
Archived
Can I get the cost down or make payments?
Kenneth's answer
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Answered on June 29, 2016
You should speak with a tax attorney as there are IRS programs available if you legitimately cannot pay the tax. You could look in to going on a...
Archived
Is a business-related meal between two owners of a California LLC tax deductible?
Kenneth's answer
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Answered on June 29, 2016
It is probably deductible as described. You should have an accountant or CPA doing the books and run it by them. You should save receipts and take...
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