Archived
How to register if I have to open a staffing firm? My brother has a IT company in India and need to setup Onsite-Offshore model
Kenneth's answer
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Answered on June 10, 2016
You need to hire and consult with a business/tax attorney. Onshore/offshore business models are very complex and not something you should try to...
Archived
Can a corporation starting out file the paperwork to be an a S-Corp and then covert to a C-Corp down the road?
Kenneth's answer
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Answered on June 10, 2016
If you lose or revoke the S election, you become a C corp by default (applies to LLC or statutory corporation).
Archived
If you get a refund on foreign taxes, how do you show it your US taxes?
Kenneth's answer
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Answered on June 10, 2016
For refunds from foreign tax jurisdictions against which you claimed a foreign tax credit, the correct procedure is to amend the return (1040X).
Archived
What is the charge to file a stay of collection to the IRS on my behalf?
Kenneth's answer
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Answered on June 10, 2016
You might be able to use Collection Due Process or file for an equivalent hearing. You will also need to get caught up on the late returns and work...
Archived
Can a retail business discriminate based on alienage (i.e. green card holder) vs US citizen?
Kenneth's answer
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Answered on June 10, 2016
It is not a matter of activating Quickbooks (the software), but activating Quickbooks to function as a merchant account for accepting credit cards...
Archived
About Federal Tax Withholding form W4
Kenneth's answer
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Answered on June 10, 2016
Annual wages.
https://www.irs.gov/pub/irs-pdf/fw4.pdf
Archived
Does S-type and LLC formation occur at the same time?
Kenneth's answer
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Answered on June 10, 2016
You form the LLC and file the IRS forms for electing treatment as a Subchapter S corporation (Form 2553). There is a time limit within which you...
Archived
If I obtained a business license and tax id# to start my own business and never actually started it yet, do I have to file taxes
Kenneth's answer
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Answered on June 10, 2016
What you need to file depends on how you set up the business. If the business hasn't had any activity, you will just send in a tax return with a...
Archived
I am being sued by the IRS
Kenneth's answer
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Answered on June 10, 2016
A phone call from the "IRS" threatening you is a scam. The IRS does not do business by phone calls. If you are still worried, call up the tax...
Archived
Taxes for Money Made From Surveys and Mock Defense Trials
Kenneth's answer
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Answered on June 09, 2016
It's income. Attorney Peterson answered this question perfectly.
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