LLCs and Federal Tax. Do we only pay taxes on what is distributed? Are taxes paid on the amount held within the LLC?

I agree with the other tax advisors who stated, the LLC profits rather than the LLC's distributions are taxable to the LLC's owner or owners ...

I want to offer free computer repair to low income individuals in Orlando. my questions is tax related do i get any tax deduct.

I cannot speak about Fla law, but for Federal income tax purposes, your services will not be deductible, but the small or discounted amount you...

CAN any one tell me where it is written in the IRS or TAX CODE that only earings in a single year can be reported on a 1099 for

The ear rings are income in the taxable year received. If the ear rings are received in 2014, then the ear rings are 2914 income. This is for...

Two children of friends were orphaned. How best to contribute money to the custodial grandparent from a tax perspective.

You can make gifts to an individual of 14k annually and, if you have a spouse, that spouse can make an annual gift of 14k to that same individual...

I haven't filed ca state or fed tax returns in 7 years, who can help me and how much will it cost?

I suggest that you employ a local tax attorney as soon as possible. The attorney can employ a CPA to assist in handling your case and seek to...

How is he claiming you two are filing jointly if you did not sign the returns? Do you have a separation agreement and, if so, what does it...

How does taxation on a deferred comp plan work for independent contractors if I have never been paid nor seen a statement at all

The facts as presented are not clear to me. First, i am not clear as to how you can be certain that you are fully vested or that you have any...

Joint married tax return check came back payable to deceased spouse only. Can I deposit only in open joint bank acct

I agree with the other attorney who questioned the legality of filing a joint return for a deceased person. As a result of his death, I assume...

I want to get married and my boyfriend hasn't filed in 18 to 20 years. He is considered self employed.

I agree with the suggestion that your friend secure the services of a local tax attorney. I doubt you can be liable legally for his taxes since...

Do I need to file taxes for a business if I have no employees and made no money?

If you have no income and no employees, I don't believe it necessary to file a return for the business, but, assuming the business is not operated...