Archived
If you owned & lived in a property for 2 years & rented it out for the next 2 years, would you have to pay capital gains taxes?
Bruce's answer
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Answered on March 23, 2014
Section 121 of the Internal Revenue Code, which allows you to exclude the first $250,000 of capital gain per person, is very specific. Mr. Wagner...
Archived
How to file taxes without a 1099-misc?
Bruce's answer
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Answered on March 23, 2014
You must report the income whether or not you received the 1099. You must talk to a competent CPA, and perhaps even a tax attorney since the issue...
Archived
I have a tax lien on my credit report.
Bruce's answer
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Answered on March 23, 2014
Hire a competent CPA to help you work out the problem with the state. Once you have done that go to the credit reporting agencies with the...
Archived
IRS-ODVP-Income Tax: Is Pre-Clearance advisable to disclose UK accounts under $12k? (Voluntary Disclosure of Offshore Accounts)
Bruce's answer
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Answered on March 23, 2014
The "petty" accounts will not cause you a problem. For the retirement account you may be well advised to enter the OVDI and, once your file has...
Is the $800 California annual LLC fee tax deductible? If so, how should I deduct it?
Bruce's answer
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Answered on March 23, 2014
Messrs. Smith and Wagner have given you the correct advice.
Archived
IRS-OVDI-Income Tax: Is Pre-Clearance advisable to disclose UK accounts under $12k? (Voluntary Disclosure of Offshore Accounts)
Bruce's answer
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Answered on March 23, 2014
The two "petty" accounts will not cause you a problem under the OVDI. The issue is how much money was in your retirement account? You may be best...
Archived
Need attorney to assist in setting up a bingo parlor for a non profit in the Oakland, CA area. We are a 501 (c) 3 non profit.
Bruce's answer
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Answered on March 16, 2014
Try Arthur Reiman 818-623-9898 whose firm does nothing but represent non-profits.
Selected as the best answer
Archived
Can a non US citizen form an LLC, LLC with S Corp selection, etc in California?
Bruce's answer
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Answered on March 16, 2014
Yes, as a legal U.S. resident you can have an "S" corporation, whether formed as an LLC or corporation under state law. However, as Messrs....
Archived
Is it legal for two separate companies to be using the same EIN?
Bruce's answer
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Answered on March 16, 2014
One entity cannot use two separate EINs. Messrs. Mikulenckak and Smith have given you excellent answers.
Selected as the best answer
Archived
Inheritance
Bruce's answer
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Answered on March 16, 2014
Howard Jarvis, who spearheaded Proposition 13, also spearheaded the drive to eliminate California's inheritance tax back in the early 1980s.
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