Asylum Case. I have assets and receivables (cash and loaned money to some friend) abroad. How can I show them in my tax return?

Keep good records so when you are paid back, you can prove that it isn't taxable income.

Strictly being a personal trainer is not sales taxable. If you are selling supplements or the like then that would be sales taxable.

My current employee in medical field will go to medical school and work for me. Ed Expenseses?

In order to reap the tax benefits there are a couple of ways to go about it. You should consult with a tax planning lawyer to see what option works...

What are the tax strategies for selling a condo that I am currently renting out?

Transactional tax planning involves a multitude of factors. There are ways to defer all or part of the tax. Maybe it is better to recognize the tax...

If a sole proprietor uses his personal bank account for business, should he also keep expense receipts for personal expenses?

I have never had an examiner ask for a client to prove that expenses not deducted on the tax return should be. 1099-misc and W-2s are issued to...

Can I sue my CPA for incorrectly filling my IRS audit?

2 things. First IRS examiners quite often ignore you documentation. Many times I tell them to give me their report and then we go to appeals....

Havent worked in almost two years, can i claim my newborn this year?

You are not required to file a return if you have no income. The benefit. of claiming your son would be of very little value. The dependent rules...

I sold my home in 2015 the title company paid the wrong person.

ok. sounds like you could have a claim for damages

If you file jointly now, then the whole refund can be taken. There is a way to avoid that though. Liens don't get placed against specific property....

Am I required to provide my social security number?

You are required to provide a tax identifying number, either a Social Security or an EIN. Otherwise the interior decorator will have to withhold...