Archived
If I have a claim against me with the texas work force commission what would happen if I get a tax id number?
Kevin's answer
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Answered on November 18, 2013
Your question requires more facts. If the claim is against you personally, and not against a business interest you owe, then the Texas work force...
Archived
If an individual opens a bank acct in their name with a 501(C)3 as the DBA, would they be shielded from tax liability?
Kevin's answer
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Answered on November 18, 2013
You need to open a new account in the name of the 501(c)(3). Note, why do you think you would have tax liability simply for having a checking...
Archived
If you take out investment money from an annuity to put into your small business, do you have to pay taxes on the money?
Kevin's answer
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Answered on November 18, 2013
If you received money from an annuity it will almost certainly need to be included as part of your income for the tax year you received the annuity...
Archived
Looking for a decent CPA to file taxes for my Delaware LLC for the last two years?
Kevin's answer
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Answered on November 18, 2013
You will get half rate service if you want someone to prepare two years tax returns. I suggest that you shop some CPA's over the phone and get...
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Archived
My organization just started and is going to hold it's first fundraiser event, which will involve participants purchasing ticket
Kevin's answer
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Answered on November 15, 2013
This is a very good question and I suggest you talk to someone locally about the state or local regulations of non-profits and the use of...
Archived
Who is responsible for reporting and paying the tax on a personal injury settlement?
No settlement agreement exist on paper.
Kevin's answer
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Answered on November 15, 2013
Someone may have improperly tried to claim the amounts paid as a certain type of deduction, ie mischaracterized the payment to you as something...
Archived
Does the IRS share info with SSI at taxes season?
Kevin's answer
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Answered on November 15, 2013
The IRS will absolutely know what social security income you have received.
Each January you will receive a Social Security Benefit Statement...
Archived
What is statute of limitations regarding 2008 Investment Advice which ultimately caused huge IRS tax liability that is ongoing?
Kevin's answer
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Answered on November 14, 2013
If you want to go after your financial advisor you would likely have to go through mandatory FINRA arbitration. Refer to the rules listed on...
Archived
Does establishing an LLC, then electing S-Corp for tax purposes mean that the LLC now must follow S Corp rules and regulations?
Kevin's answer
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Answered on November 14, 2013
Your tax status is irrelevant in complying with corporate filings and records necessary for the secretary of state (annual reports, etc). You need...
Archived
Claiming property taxes as tax deduction
Kevin's answer
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Answered on November 14, 2013
You need to amend your old returns to properly reflect the deductions. Your accountant that messed up in the first place should do this at no charge.
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