Archived
About to form an LLC with my partner and I. We normally split the profit as our salary. Can we still do this after formation?
Charles's answer
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Answered on August 06, 2018
A two person LLC will be taxed as a partnership unless you elect S corp status. The pship should pass the income through to you as earned income...
Archived
Single member LLC sole proprietorship Tax filing for the current year 2018 ?
Charles's answer
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Answered on August 06, 2018
You file a regular form 1040 with a Schedule E. Do you need to file estimates on a 1040 ES, maybe, maybe not
Archived
Would the transfer of LLC ownership be sufficient to avoid having income reported in my name?
Charles's answer
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Answered on August 06, 2018
You need see a tax attorney. You have potential tax evasion issues and/or gift tax issues. This is not the forum to discuss detailed, specific...
Archived
Can you change percentage for K1 on LLC?
Charles's answer
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Answered on August 06, 2018
You can file amended returns to correct the profit or loss allocations and then start using the right amount going forward. All members are going...
Archived
Can the IRS actually take my child support?
Charles's answer
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Answered on August 06, 2018
What you need to do is get things resolved with the IRS. You should have done it 10 years ago instead of letting them take your stuff now. An...
Archived
So how many LLC can someone have? My new neighbors are buying houses then putting them in a llc all with a different name..
Charles's answer
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Answered on August 06, 2018
It looks like it is a real estate investment company. They can have as many LLCs as they want. Are they avoiding taxes? Who knows. White and...
Archived
IRS rejected my refund and said I should be receiving a letter stating my income could not be verified, what does that mean ?
Charles's answer
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Answered on August 06, 2018
Not nearly enough info to answer your question. Is This EIC refund? What type of income do you have? Have you looked at your wage and income...
Archived
Can I sue The IRS????
Charles's answer
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Answered on August 06, 2018
No you can't sue the IRS. You made the mistake. Now it is being fixed. It takes the IRS about 3 months to process a 1040X, then it has to issue the...
Archived
I just realized that I did not subtract an IRA I opened in 2014 on my 2014 income tax return. What are my options?
Charles's answer
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Answered on August 05, 2018
The 2014 tax year is closed unless you filed an extension. If so you can amend your return.
Archived
How can I sue H&R Block for not giving me all of my tax returns? What I received does not match what I was supposed to get.
Charles's answer
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Answered on August 05, 2018
The goverment sends a notice stating why your refund is different. I woulsmd start there. Block prepares the tax return. The don't decide when and...
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