Archived
If I have a large capital gain anticipated from a real estate transaction with a 1 yr + escrow , can I apply a 1031 exchange
Bruce's answer
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Answered on April 24, 2014
The answer is that you probably can technically do what you have in mind. You and your own corporation are not the same people for purposes of a...
Archived
If I am filing a tax return for my parents who are now both in a nursing home what address do i put on their tax return?
Bruce's answer
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Answered on April 21, 2014
If you wish to use your address, then use a power of attorney (IRS Form 2848) and file form 56.
Archived
How can my husband assert his rights and the Ohio state SOL for tax collection. Does he have to get a lawyer?
Bruce's answer
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Answered on April 21, 2014
If you can't afford an attorney then you should continue calling the Attorney General's office. Perhaps there is an ombudsman in the state's...
Archived
Can my employer use an old tax levy order to garnish my wages?
Bruce's answer
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Answered on April 19, 2014
An "old" levy may still be valid. An order might be good for two years. See California Code of Civil Procedure Section 706.032..
Archived
Am I personally liable for California State Franchise Tax of a cancelled LLC?
Bruce's answer
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Answered on April 19, 2014
You do not have personal liability as long as you did not take assets from the LLC and put them in your pocket instead of using those assets to pay...
Archived
Do family law judges in California raise money for their own election campaign?
Bruce's answer
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Answered on April 18, 2014
Yes, judges are entitled to raise money for their re-election campaigns. Yes, anyone can donate to their campaigns.
What language is appropriate for transfer tax exemption?
Bruce's answer
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Answered on April 18, 2014
The transfer tax exemption - meaning for federal estate and gift tax - is not dependent upon the language that appears on the deed. If it is a...
Archived
How much income tax has to be paid by a business owner which has a annual profit of $20,000 to $40,000
Bruce's answer
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Answered on April 18, 2014
The answer could be anywhere from none to 50%. You need to hire a competent CPA.
Selected as the best answer
Archived
How to pay legally for personal work outsourced to individual based in other country
Bruce's answer
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Answered on April 15, 2014
If you are paying money to someone in another country that is still a deduction from your business income. Just use a good CPA of which there are...
Archived
Suspended LLC in Cailfornia, Never operated. no money for taxes.
Bruce's answer
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Answered on April 15, 2014
If you do not plan on using the LLC, you can simply stop paying the minimum franchise tax. The state will suspend it. You will not have personal...
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