Does my C - Corporation Owe Personal Holding Company Tax as a Residential Rental Corp even with little interest income at 1% ?
Bruce's answer
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Answered on February 19, 2013
It sounds like you do not have a personal holding company tax problem. However, since you even think you have a PHC problem you should have your...
Archived
HOW DO I FILE MY TAX RETURN IF THE INCOME IS FROM OUTSIDE USA?
Bruce's answer
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Answered on February 19, 2013
U.S. citizens and residents are taxable on their worldwide income. So, yes, you must file an IRS Form 1040. Due to a treaty with your home...
Archived
Mi getting married in the spring and we were wondering how filing taxes will work
Bruce's answer
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Answered on February 18, 2013
What do you mean "every year someone takes my federal taxes"? If you file together no one should be able to take your joint refunds. You need, as...
Archived
Could my tax money be taken if my husbands car was repossessed after his arrest?
Bruce's answer
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Answered on February 18, 2013
A judgment creditor cannot get your tax refund until it is deposited into your bank account. Only the government can intercept a tax refund.
Archived
I am an American citizen who married a Brazilian last year. Are immigration expenses deductible? Can I claim them a year later?
Bruce's answer
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Answered on February 18, 2013
No. They are neither ordinary and necessary business expenses under Section 162 nor are they in connection with a trade or business under Section...
Archived
Transferring title of a FR from my name to an LL my wife and I own . . . are there tax or cost issues ?
Bruce's answer
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Answered on February 18, 2013
Transferring title of a property from your name to an entity in the name of you and your wife should not create any tax issues. Of course it would...
Can I convert my LLC to a Public Benefit Corporation In the state of California ?
Bruce's answer
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Answered on February 18, 2013
Yes you can convert the LLC to a public benefit corporation in the state of California.
CAN I FILE FORM 982 WITH FORM 1041?
Bruce's answer
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Answered on February 18, 2013
Yes. You should do so.
Archived
We are an LLC , filing tax exemption - First , do we dissolve the LLC , or convert the LLC to a corporation in California ?
Bruce's answer
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Answered on February 18, 2013
Most tax exempt entities are filed as corporations, secondarily as trusts. If your LLC has not been active, then you might as well let it die and...
Archived
Can my dad claim me on his taxes?
Bruce's answer
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Answered on February 18, 2013
Yes. Your father can claim you as a dependent. Check the IRS rules at http://www.irs.gov/publications/p501/ar02.html.
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