Lots of credit card settlements gave me 1099-C forms for 2011. Am I insolvent? I am filing taxes.

You probably cannot include your wife' student loan debg to establish your insolvency because it very well may be a separate property debt if...

When a corporation files bankruptcy , are those corporate officers still held responsible to re pay the IRS 941's liability ?

Personal bank;ruptcy will not discharge the trust fund portion of payroll taxes that are asserted against you. This is not a good strategy. Your...

Should I convert LLC to Corporation?

A subchapter S. Corp. would provide you with more tax advantages. You also could out of having to pay estimated tax payments. An LLC can also elect...

I am assuming you are an international company formed in India that wants to do business in the US, You have not provided enough information. for a...

I am not sure if transferring the residential properrty to your name is a good idea because you will probably have a huge capital gain based on the...

I am working on similar case now. First, step is what are your rights? Are you a shareholder in the corp.? If not you have no legal rights. If you...

Under CA & Federal (FTB & IRS) laws, would a tax payment plan void/nullify the ability to refile future amendments? Or not

You need to seek a consult with a tax attorney to ferret out the law, analysis and appropriate strategy in this matter. You can always amend...

Looking to move to either an LLC or S-Corp to give the rental properties to my 3 children. Which is a better move?

I favor LLC 'sfor real estate. (See my legal guide on this subject.) Subchapter S Corporation require officers who must be paid wages subject to...

If corporations in Delaware are not required to pay income tax, does that mean they only pay tax in the state of operation?

The prior attorney is correct. New York, as well as all states that I am aware of will require you to register to do business in the state where...

I own an LLC that provides services only. The company has no assets or income. The LLC owes 3 subcontractors back wages.

You cannot discharge the trust found of wages in bankruptcy. Good luck! Phillip M. Smith Jr. Los Angeles Tax & Business...