Archived
I closed my partnership in a different state (NJ) where I am. K-1 has NJ address. Do I submit an IRS change of address form?
Kenneth's answer
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Answered on March 12, 2016
I would certainly change it. If you are audited or the IRS needs to send something, they are only legally required to send it to the last known...
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Archived
Can I claim any of this (exam fee, flight, etc) on my taxes as a job hunting expense?
Kenneth's answer
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Answered on March 12, 2016
Maybe. To start with, the expenses must be for seeking employment within the same career. If you are changing careers, a first time job seeker, or...
Archived
What is the proper way to report foreign gifts to IRS for Tax purposes?
Kenneth's answer
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Answered on March 12, 2016
There isn't a gift tax issue here since the amount in question is only 11,000, however, you mentioned that the proceeds of the gift landed in your...
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Archived
Do i have any legal ground for them publishing my SS# and other information ?
Kenneth's answer
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Answered on March 10, 2016
Maybe, though absent actual damages, the best people tend to get in situations like this if something like free credit monitoring, if anything....
Archived
Pay income tax on freelancing income
Kenneth's answer
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Answered on March 10, 2016
No range on income, it is generally all taxable. You would report income and expenses related to freelancing on Schedule C of Form 1040.
Archived
Shall I pay taxes for Kickstarter in USA?
Kenneth's answer
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Answered on March 10, 2016
Mr. Brooks provided an excellent answer. I would only add that your plan is one which will lead to disaster from a tax perspective (if Kickstarter...
Archived
Do I need to become a business entity?
Kenneth's answer
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Answered on March 09, 2016
You never have to be a business entity to conduct business in the U.S., however, it is always a good idea for a couple of reasons. One, it helps...
Archived
Is this contempt?
Kenneth's answer
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Answered on March 09, 2016
This is a family law issue and you should contact the lawyer who handled your divorce or another family law attorney to help you with this....
Do i need to file Form 3520. "Gifts from Foreign Person"? with the IRS
Kenneth's answer
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Answered on March 09, 2016
You might, it depends on a few other details like are you filing a joint return with your spouse, etc. I would suggest getting a CPA or tax...
Archived
What type of legal business entity/structure is best for me?
Kenneth's answer
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Answered on March 07, 2016
You need to consult with an attorney as there are a number of ways to do this and, more often than not, these situations are complicated. I would...
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