Can we start an LLC, redo offices and give them a tax write off form that they donated their old office items for their tax writ

If you start an LLC and "redo" the offices, you can potentially deduct your expenses for the "redo." However, you migth have to capitalize those...

Converting home to rental for purposes of deducting a loss?

On April 23, 2012, the Tax Court decided the Reesink case, a 1031 case in which Mr. and Mrs. Reesink bought the property in November, 2005,...

Social Security wage cap question

There is no method for the employers to get back an overpayment. So the best approach is to talk to them and try to get the two of them to...

Will back child support be taken from my ex husbands income tax refund?

The Arizona Department of Economic Security (DCSE) has the authority to intercept State Income Tax Refunds when a past-due child support balance...

What to do with a corporation with no assets?

It sounds like the corporation never had any assets and never conducted business. So do nothing and the state will suspend it and revoke its...

Capital gains and partnership

Your basis for income tax purposes if $110,000 + $50,000 = $160,000 minus depreciation for 15 years. Let's guess that the depreciation is $20,000...

You are confusing two different issues: (i) is your niece a California resident for income tax purposes; and (ii) is your niece eligible for...

If the California Franchise Tax Board determines that you have taxable income that you have not reported it can prepare a return for you. This is...

Business Shares and Tax Implication

Of course it is difficult to determine from the vagueness of your question. However, here is an attempt. Assume you have an obligation to pay...

What taxes do I pay on gains from trading forex through a foreign LLC/partnership?

You must File IRS Form 8865 "Return of U.S. Persons With Respect To Certain Foreign Partnerships." You must also file an FBAR - Form TD F 90-22.1...