What yo do about my asset overseas?

Unfortunately once you become naturalized you become subject to world wide taxation even on an offshore asset that you acquired before entering the...

Reasonable reliance on a professional is fantastic grounds for penalty abatement. If you can get him or her to admit in writing that he or she...

How much IRS tax am I liable to pay on a sale of a house at $300,000.00 - clearing around $165,000.00?

1st determine what the fair market value was at the time you inherited it. Take the sales price less all related expenses (commissions - fix up...

Is this true? Any experts out there that can answer with certainty?

To be deductible spousal support payment must meet the following criteria: • The payment is made in cash; 21 • The payment is received by a...

Do I need a CPA to achieve the goals? Will I be audited into oblivion popping up and filing taxes?

It sounds like you never had a filing requirement. If this is correct no issue with exposure surrounding pattern of non filing. However, if...

Selected as the best answer

S corporation subsidiary and division restrictions, liability issues

I would add that S Corporation can Form Q Subs https://www.ftb.ca.gov/forms/misc/1093.pdf The parent and all Q Subs would file a consolidated...

Do I have to pay taxes in the US? Can I avoid it? How much do I have to pay? Can I send it to my home country instead?

I assume either you have met the substantial presence test or have been issued a green card and are therefore a U.S. "Tax Resident"....

How can I avoid state of CA or IRS from immediately raiding bank account(s) for back taxes when I deposit my inheritance?

Your asking a dangerous question as it is a felony to evade a collection action (tax evasion). It could be considered aiding and abetting income...

Does a federal tax lien attach to the proceeds from a decedent's retirement account?

I would add that the taxing authority could hold the beneficiaries personally liable for any distributions received from the 401K. The executor...

What are the major taxes my company would have to pay?

If your operating out of a tax free country this implies you may be a non resident alien. Are you a citizen? Do you intend to live in the U.S.? ...