Can a worker be paid under a table at a food place?

Persons or entities that pay employees "under the table" are committing tax fraud and are subject to penalties under the Internal Revenue Code. By...

As you know, green cards (permanent resident alien cards) are not issued to corporations. The mere fact that you formed a business entity in the...

Does an agreement to pay commissions need to be in writing in order to be enforceable?

First and foremost, please know that I am not licensed to practice law in New York. Therefore, check with a New York authority. That said, in...

Can I start a new business or will I be with held

You can form as many companies as you want (with acceptable different names) and they will continue to be active as long as you pay the annual...

Hello, I have a question related to Capital gain on an investment property.

I will assume that the investment property is a capital asset that you have held for more than one year. It appears from what you have stated in...

How does a Canadian heir get taxed on American inheritance set up within living trusts. Can the Cdn heir be a coexecutor?

As was previously stated some assumptions have to be made. It sounds like there exists one or more revocable living trusts. and I will assume they...

What have to answer if they ask me when I filed my last tax?

A requirement for citizenship is that the applicant is compliant with federal tax law. All required tax returns must have been filed or are on...

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Can a business owner buy himself lunch and write it off as a business expense?

As stated by others, the answer is "no". However, lunch with a client or business partner or prospective client can be an "ordinary and necessary"...

Items often referred to as "drug paraphernalia" can typically be used with or without drugs. Obviously the cigarette papers by themselves are not...

Will I owe capital gains taxes if my former husband buys out my share of property we still hold in common post-divorce?

There is a tax term known as "basis" which is nothing more than a compilation of the total cost of the property. Since you both owned the property...