Important Question

To learn about the rules for filing as a head of household go to http://www.irs.gov/publications/p501/ar02.html. Mr. Atchley has already explained...

Will closing my business account cause any problems or red flags with the IRS since I waited 7 years to close out the business?

It should not cause any red flags if you tell the IRS what should by now already be obvious: the business is gone.

If you let the IRS know your business is no more the IRS will not want to know why you are no longer filing returns. Discuss this with your tax...

Inbound tax planning, also state specific?

Yes, pre-immigration tax planning is different from regular tax planning. Before you become a U.S. citizen or resident you are probably - this is...

What are good books or resources for starting a private operating foundation?

You should go to the Council on Foundations web site. They have a marvelous number of resources.

Small Business Philanthropy: How Does It Work?

Ms. Harris has given you superb advice specific to your state, so you should call her and buy some time from her before you do anything. From a...

Claiming Minors on Taxes With a Divorce Decree

The custodial parent must file a form 8332. If he is the custodial parent you cannot claim the child simply due to the court decree. If you sent...

I paid several thousand dollars in security deposit violations to a tenant (Chicago). Should I file a 1099-MISC ?

It cannot hurt to file the form since it is merely an information return. Of course if you talk to a competent tax return preparer that person can...

MY FEDERAL AMENDED TAX RETURN FROM 2010 WAS DENIED BUT MY STATE AMENDED RETURN WAS ACCEPTED AND REFUNED

There is a 3 year statute of limitations on filing an amended return. So if your 2010 return was file on April 15, 2011, the amended return was...

Do I have to pay Delaware personal income tax? (out of state owner of DE LLC)

You should file a Delaware tax return for the LLC but you only have to pay tax on the Delaware source income.