Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsSmall business inquiry
Asked onWednesday, January 03, 2024 by OmarHi, I just started selling on Ebay, I reside in Ontario. I made around 100 to 200 CAD in total sales last month with little profit around 20 CAD. I was wondering if I should register my ecommerce business? and does registering give me any benefits such as GST/HST exemption on sales or business related purchases? Thank you.
llc holding company in new york and want to operate business in another state
Asked onWednesday, January 03, 2024 by joehi I have created an LLC in New York but I want to do work in Nebraska how do I form a company in Nebraska and protect myself from lawsuits because I plan on expanding into other states and not have to sign up for another EIN in Nebraska
INCOME TAX RETURN
Asked onTuesday, January 02, 2024 by LisaI moved to Maryland from California 10/2023. I'm wondering if I need to find a CPA in Maryland to file my income taxes.
Parent subsidiary tax question
Asked onSaturday, December 30, 2023 by RandyI have an LLC that only does online sales like Amazon and Poshmark. I am about to start a new LLC that does litter pick up for commercial properties . I want to make my current LLC the soul managing member of my new LLC.. My question is can I pay my self directly from the subsidiary? Or do I need to pay the owning LLC first. Then pay me through that? Would the income be double taxed once as income for the subsidiary second as income for the parent company?
Unrelated Business Income for a Church
Asked onFriday, December 29, 2023 by MikeLooking for advice on how best to setup tracking/record keeping/filings of unrelated business income for a 501(c)(3) organization. This is something we have not dealt with before. Thanks
MLP K1 Nonresident State Taxes
Asked onFriday, December 29, 2023 by LucasI have mlp k1's that have a state schedule. I am unsure if I have to file a return in multiple states that I do not reside in. Is their anyone I can talk to about this issue?
What should I do with left over money from S Corp?
Asked onThursday, December 28, 2023 by ShunThe left over money from the S-corp after payroll and expenses is roughly 25% Do I file 1120S & Sch K1 and move the money into my personal bank account and call it Distributions? If I need money for my business account do I move it back and call it Capital Contributions? or do I leave the money there and pay taxes and call it Retained Earnings? What's the best practice here?
What taxes do I have to pay for my LLC formed in Wyoming?
Asked onThursday, December 28, 2023 by wolfHello, I am a non-us citizen and reside outside of usa. I want to form an LLC online in Wyoming (an online apparel store). What taxes will I have to pay? Will I have to file tax reports to the IRS? Thank you.
Recording a Credit Card transaction being disputed
Asked onThursday, December 28, 2023 by OwenHi, I made an purchase through an online marketplace, and they failed to communicate and send me the items. The marketplace was not helpful in fixing the issue so I put in a Credit Card claim and am waiting to hear back. In the meantime I am wondering how I would record the transaction on my Credit Card?
3 years unfiled - how to most efficiently pay
Asked onWednesday, December 27, 2023 by larryI haven't filed for 20 - 21 - 22. I have them ready to send. I owe about $2,000 - $3,000 - $1,300 respectively. Should I write one check and send all 3 in one envelope? Should I send them individually with individual checks? How (and should) I estimate my penalties and include that in the check(s)? What is the best way to try to beg mercy and what will get them processed the most quickly?