Archived
How can I prove to NVC or USCIS that I'm exempt from Tax Returns filing since I live abroad for most of my life? if I was exempt
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Answered on August 01, 2012
U.S. citizens and residents are subject to U.S. income tax on their worldwide income. It doesn't matter whether you have been living in South...
Archived
Individual liability for Corp $800 min tax
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Answered on August 01, 2012
The state of California could, of course, change its attitude in the future. However, based on what I have seen over the past 35 years, you have...
Archived
My partners and I own a small business, formed as a general partnership, we gave our books & documents to our preparer, but
Bruce's answer
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Answered on August 01, 2012
You need to immediately hire a CPA who is competent in representing taxpayers who have tax problems, including unfiled returns. Preferably this...
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Archived
As a 501(c)(3) Public Charity, can you solicit donations by gifts for certain amounts?
Bruce's answer
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Answered on August 01, 2012
You can have a web site and sell items to support the charity. However, only the amount in excess of the item's value is deductible for charitable...
Archived
G4 and tax exemption
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Answered on August 01, 2012
The term "exempt individual" does not refer to someone exempt from U.S. tax, but to an individual termporarily present in the U.S. as a foreign...
Archived
2011 California tax return, K-1 schedule from S-Corp
Bruce's answer
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Answered on August 01, 2012
Technically, your husband was not a "partner" but a shareholder in the "S" corporation. He cannot "resign" as an owner; he can only "resign" as an...
Archived
Filing taxes?
Bruce's answer
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Answered on July 31, 2012
If you reside in the U.S. you are a resident. As a resident you must file an IRS Form 1040. The IRS does not care whether you are a legal or...
Archived
If a 1099-MISC is issued to an ex-employee for the full amount in a settlement agreement what does that mean for him/her?
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Answered on July 31, 2012
That almost certainly means that the funds are ordinary income to the ex-employee. The law regarding the taxation of damages is that the damages...
Archived
Is itlegal for an insurance company to holdcommisionsthat an agent has been 1099,d and paid taxes onover severaal years
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Answered on July 31, 2012
If your claim is $4,000 or less, plus interest, costs and any special damages or penalties provided by law, you can sue in Kansas Small Claims...
Archived
Does tax liability change when taxes from excess distribution regime(Section 1291) are factored?
Bruce's answer
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Answered on July 31, 2012
Since you have received no responses from this site on this question, you must understand that PFICs are a difficult topic in general, and that...
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