Archived
In an LLC to S Corp conversion, can you start the S-Corp in a Fiscal Year basis if the LLC was on calendar year?
Henry's answer
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Answered on December 08, 2009
I agree. Check with your accountant on this one. Fiscal years have to be approved by the IRS. You no longer can just select any fiscal year end...
Archived
Tax implications for transfer of deed?
Henry's answer
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Answered on December 08, 2009
If they deed the property to you on a quit claim, then you own what ever they had with regard to ownership of the property. This could be anywhere...
Archived
Business
Henry's answer
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Answered on December 08, 2009
This question needs more facts. You can run a business, but a lot more details are necessary to determine what else you will need to do. Seek...
Archived
I need some advice on taxes asap!!!
Henry's answer
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Answered on December 08, 2009
I agree with the other attorneys. These are gifts and you do not have to report this as income. Now, get as far away from this guy as you...
Archived
Can overpayment of $20K commission be repaid without affecting our W2? This will affect college financial aid for kids.
Henry's answer
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Answered on December 06, 2009
As long as you pay back the money by the end of the year, your company should be able to correct the W-2 for you. Talk to your HR department and...
Archived
Can a bona fide ira be attached for a typical debt ? are ira's afforded the same debt protection as a keough {401, etc.} ?
Henry's answer
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Answered on December 06, 2009
Qualified retirement plans are given protection from creditors under ERISA. IRA's are not afforded this protection and are fair game for creditors...
Archived
Do we need to pay $800 LLC tax, if we cancel LLC after 2 months it was formed without any activity?
Henry's answer
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Answered on December 06, 2009
To dissolve the LLC you will need to have a tax clearance certificate from the Franchise Tax Board. You cannot get this certificate until you pay...
Archived
My boyfriend and I both own our homes. We wish to sell them and buy another together. Are there tax considerations we should
Henry's answer
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Answered on December 06, 2009
Your principal residence, if you have lived in it for 2 of the last 5 years, each have a $250,000 gain exclusion. When you buy a new house you...
Archived
Is there anything I can do??????
Henry's answer
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Answered on December 06, 2009
Is this will being probated? If the estate exceeded $100,000 a probate is a must in CA. Contact a probate attorney immediately to investigate and...
Archived
Is a will executed in NY State valid in Tenn.
Henry's answer
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Answered on December 06, 2009
If your will was valid in NY, it is valid in Tenn. under the full faith and credit clause of the US Constitution. However, it would be a good idea...
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