Archived
CA Attorney please. I do business in CA and NV as a sole proprietor and live in CA. Can I apportion business income to NV?
Henry's answer
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Answered on April 27, 2011
You are a CA resident and are required to file a CA income tax return for your worldwide income. You can and should apportion income to any state...
Archived
How long do I have to wait before I can file another offer in compromise?
Henry's answer
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Answered on April 27, 2011
There is really no time limit, but the subsequent offer must be materially different or the IRS will reject it.
Archived
I received a notice from the IRS that there was an error for $400 on the 2008 return and they have adjusted accordingly and
Henry's answer
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Answered on April 27, 2011
You and your wife are both liable for the tax liability on a joint return. When the IRS adjusts a joint return they send out a notice to each...
Archived
I work in Oregon and live in washinton. I am going to be garnished for back Or. tax. Can Or. search my residence for valuables?
Henry's answer
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Answered on April 27, 2011
It is possible, but unlikely. Your best course of action is to work out a payment plan or offer in compromise with them to stop enforced...
Archived
I have a B1/B2 visa and I want to open a LLC in NY, do I need a tax ID number? or what are the steps to open the company?
Henry's answer
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Answered on April 27, 2011
The entity will have to be properly formed with the Secretary of State by filing articles of organization and the entity will have to have a tax ID...
Archived
When people talk about potential gift tax /return if I transfer 1/2 of my home to sister, would the equity be the # that matters
Henry's answer
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Answered on April 27, 2011
When you transfer half of the house to your sister the net fair market value of the gift will have to be reported on a gift tax return. You are...
Archived
I have an L1A visa. I am Canadian citizen and filed takes for 2009 in the US. I live in Massachussets.
Henry's answer
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Answered on April 27, 2011
Since you are a Canadian you will file a form 1040NR - Non-resident income tax return.
How do I proof to the IRS my cash icome?
Henry's answer
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Answered on April 27, 2011
Prepare a log of all the cash that you received by client. Present this to the IRS as your documentation. I am assuming that you did not deposit...
Archived
I am a U.S Citizen living in the U.A.E filing taxes for 2010. I was told that there is an exemption of $91,500 before taxation.
Henry's answer
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Answered on April 27, 2011
IRS Publication 54 found at www.irs.gov is your source.
As a US citizen you are liable for US income taxes on a world wide basis. However,...
Archived
Probate, Litigation question on my Dad's estate in Florida.
Henry's answer
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Answered on April 25, 2011
Again, you should try to resolve this yourself first by sending a demand letter to your sister. If she does not comply promptly you should hire an...
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