I am looking to organize my business into an LLP or a Professional Corp., but I am unclear on the pros/cons of each type.

Both entities are about equal at limiting liability. You can be protected for the malpractice of other medical professionals you do business with...

Should I set-up an LLP or a PC?

How do you want to be taxed? As and S Corporation or C Corporation - Choose a PC (Public Corporation) If you want to be taxed as a partnership...

TAX ACCOUNTANT MADE MISTAKES ON MY TAX FORMS. MUST I USE HIM TO FIX ERRORS OR CAN I HIRE A DIFFERENT ONE TO AMEND HIS MISTAKES?

I agree with what the other attorneys have said but I would add that your accountant is clueless. The IRS will grant a dependent to the first...

Home is in Pourover Will. The beneficiaries get stepped up basis. Is the Trust subject to Capital Gains on the property sale?

Ordinarily property that runs through an estate is stepped up to its fair market value. If the property is sold soon after the death of the...

As a green card holder you are subject to U.S. world wide income and information reporting. While transferring cash from your offshore accounts to...

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Get your bank and credit card statements and cancelled checks for 2010 – put together as accurate an accounting as you can. File a 2010 return. ...

I was arrogantly told by an attorney based out of Tustin CA that no one goes to prison for tax fraud and tax evasion. T or F?

In a way what he / she said it true… In the U.S. each year the federal government brings about 5,000 criminal prosecutions a year. 3500 or so...

Does non resident who has ITIN number should report tax every year ? even if not living in us ?

An ITIN number is typically issues to nonresident aliens that do not have a social security number assigned. Nonresident aliens may need to file...

Big Tax Problem! An accountant I used last year wasn't legit. Now being chased by the IRS & Franchise tax board for fines

Being both a CPA and an attorney if your using a sophisticated CPA your probably OK. If you wind up having to litigate get an Attorney. But...

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Community Property Laws in California

It sounds to me like your not married. There is no common law marriage in CA so Community Property would never be an issue if you do not marry...