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I'm a sole LLC member. I had a net loss in 2015 and I'm on disability and receive SSD each month. Must I file OH income tax?
Magda's answer
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Answered on April 09, 2016
The following link may help you:
http://www.tax.ohio.gov/portals/0/forms/ohio_individual/individual/2015/PIT_IT1040_Booklet.pdf
This is not...
Archived
I know this is not a tax board, but I called 2 CPAs already and got 2 different answers. What do I put on line 10A of Form 982?
Magda's answer
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Answered on April 09, 2016
Include on line 10a the smallest of (a) the basis of your nondepreciable property, (b) the amount of the nonbusiness debt included on line 2, or...
Archived
What are tax implications of a company receiving funds to buy a car for a project, then selling it when project is done?
Magda's answer
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Answered on April 09, 2016
You would be correct. This is a question for the accountant. The transaction needs to be properly accounted for. For example, are the funds the...
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Is bank account a proof of change of address ?
do i have to cancel my medicaid in NYC coz i opened bank acc. in Tn ?
Magda's answer
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Answered on April 09, 2016
In my opinion opening a bank account without anything more should not be a change of address. I would argue that a residential lease/ownership,...
Archived
If someone has stolen my federal tax return from my mail box and cashed it, what charges would they possibly be facing?
Magda's answer
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Answered on April 07, 2016
Did you tell them when you called that it had not been received? The following link provides information regarding lost refund checks and may...
How do I sue the IRS for threatening to levy my bank account for money I don't owe, harassment and refusal to give tax fund?
Magda's answer
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Answered on April 07, 2016
You can't sue the IRS for the actions you describe.
I recommend that you either pursue the rights provided to you as set out in the letter you...
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Am I in trouble?
Magda's answer
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Answered on April 07, 2016
Just to present a different side. If you determine that in fact the money in your account was your boyfriend's tax refund then shouldn't you pay...
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How many ppl can I place on board of directors of my llc?
Magda's answer
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Answered on April 07, 2016
An LLC does not have a board of directors. It is either member managed or manager managed. It also does not issue shares of stock but could issue...
Archived
How do we file the tax return and have the refunds deposited directly to our account? What forms should be attached?
Magda's answer
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Answered on April 07, 2016
I am sorry for your loss.
The w-2 provides an area right above the signature lines to include where the refund should be deposited.
Have you...
Archived
What us maximum daily charitable donation per receipt? In Maryland can you write off scratch offs as gambling losses?
Magda's answer
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Answered on April 07, 2016
You need to allocate a value to the donations. The value should be the fair market value of the property at the time of donation (used goods)....