I owned a rental property under a S-Corp in California. To save money on my tax returns,

To convert from a Sub S Corp to an LLC necessitates a liquidation of the Sub S Corp which may result in taxable gain. I agree with the other...

Are inheritance taxes based on the estate's gross value or net value?

I agree with most of the answers from the other attorneys, but there are a number of factors affecting the taxes to be paid with respect to an...

Form S corp for tax purpose under LLC

I agree with the attorney who questions you with respect to your decision to change to an S corp. I believe that the LLC is the preferred entity...

Is an executive taxed on discounted amount of a sale of a condo by one of our subsidiaries to him ?

I believe the IRS could contend the discounts constitute additional compensation to the extent of the value of such discounts. This is for...

Can reallocation of $200,000 (reduce assets) from portfolio to buy home for son until graduation be done without tax issues?

I assume you do not want to make a gift of the $200,000 since you stated you wish to make that money "work" for you. It appears the best mean for...

Do I need to collect sales tax on my online store when I'm based out of a state that doesn't require sales tax.

The normal rule is that the question is determined by the laws of the state in which the sale occurs-as one attorney said there are different tests...

Can a taxpayer sue division of taxation employee for accusation without facts

I am confused by your statement of facts. You said you "think" your tax court case was dismissed-the papers received from the Tax Court should be...

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Are life insurance proceeds taxable.?

There are insufficient facts to answer your question. For example, as another attorney indicated, it is not clear whether this was part of a group...

This is a question about changing an LLC into an S-Corporation for tax purposes.

I agree with the attorney who suggested you employ a tax attorney. As one of the attorneys cautioned, you may not be improving your situation by...

I 'm a independent contractor. Can the IRS garnish my pay from one of my customers when the checks are made out to my business

I agree with the other attorneys who state there are not a detailed summary of the facts confronting you, but that they, in essence, believe your...