According to the classification of gig economy works, you would have been an independent contractor for Lyft and not an employee; therefore, you...

Technically, you should not use a P.O. Box as your mailing address because you can receive mail at your current address. The IRS will send any...

There aren't any tax benefits or differences to adding your wife to your LLC because Washington is a community property state. Therefore the LLC...

You are not legally allowed to operate a business without a license. Although, for tax purposes you should be able to deduct ordinary and...

Your understanding is correct, your single member LLC is disregarded as an entity by default for federal income tax purposes. The amounts earned...

A 2,009 year old car! Our firm, EPGD Business Law, helps with trusts and estates and we have a great attorney in Palm Beach who can help with...

You are proposing something similar to a reverse-1031 exchange. If you can raise the capital to purchase the replacement property prior to selling...

Can I claim my house as expense to my capital gain income?

No. When you sell the stock you will recognize capital gain or loss as of the date of the sale. If you held the stock for less than one year, then...

Closing C-Corp and bank accounts in association to the business C-Corp?

No, you mentioned that you paid in full and with interest so you should not worry about being subject to tax on amount loaned to your business. The...

How can I stop a tax levy if I can’t afford the payments or levy ?

It sounds like you are already on a payment plan with the IRS. If your circumstances have changed, then you would want to file an offer in...