LLC filing taxes as a corporation: Does question #4b of Schedule K of Form 1120 (US Corporation Income Tax Return) apply?
Bruce's answer
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Answered on April 16, 2015
Presumably you are filling out the Form 1120 because your LLC has elected to be taxed as a "C" corporation. If that is the case then Mr. Smith has...
Can I sue a tax preparer who did not submit my tax return before the 4/15 deadline?
Bruce's answer
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Answered on April 15, 2015
You probably have a claim for their failure to respond in a timely fashion. The question is going to be the amount of damages. Presumably a late...
Archived
Do I need a tax lawyer?
Bruce's answer
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Answered on April 15, 2015
The only damages you might have would be interest on the underpaid tax. However, it is your responsibility to have the correct withholding. So I...
Archived
Tax file
Bruce's answer
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Answered on April 15, 2015
You should meet with a tax return preparer or CPA to determine whether you made enough money to require filing a return for 2014 in which you met...
Archived
Can the IRS come after me for unreported taxes from back in 2011? What is the statue of limitations?
Bruce's answer
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Answered on April 13, 2015
If you filed the 2011 return on time - April 15, 2012 - then the statute of limitations is April 15, 2015. If you filed at the extended due date -...
Archived
How can a non US citizen gift a home to a sibling in CA without paying gift taxes?
Bruce's answer
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Answered on April 13, 2015
First, if it is worth more than $100,000 the U.S. citizen must file a Form 3520. Second, if it is over $60,000 the non-U.S. resident will have to...
Archived
If I claim an elder parent as a dependent on my taxes am I responsible for any back taxes they may owe from years prior?
Bruce's answer
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Answered on April 13, 2015
You are not liable for their back taxes if you claim them as dependents. Their income for purposes of the support test includes all income that is...
Archived
In the end of 2012 I went to a estate attorneys office. And they deeded a property to me. Igave them my id and they got my
Bruce's answer
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Answered on April 12, 2015
Have you called the attorney's office and asked them why they have not recorded it? Have you sent them a letter, certified, return receipt...
Archived
Does my interest income earned on past investments in my home country taxable in the US?
Bruce's answer
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Answered on April 12, 2015
If you do not meet the substantial presence test, then you are not taxable on your worldwide income. Go to...
Archived
Does my income via a medical group partnership (my sole income) qualify as “taxable compensation” required for Roth IRA Contrib.
Bruce's answer
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Answered on April 12, 2015
If you are a partner in the partnership some portion of your income should be paid as self-employment earnings. Not all of the partnership's...
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