Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsForeign LLC Taxes
Asked onTuesday, August 29, 2023 by AhmedHello I want to create LLC in USA but iam confused between New Mexico and Montana state I create LLC to get bank account and payment gatway for my business Iam non resident in usa, iam Egyptian My business sales in middle east only and all my customers is from middle east, have no business or sales in US I will only use USA payment gateway and online banking Iam asking about taxes which i must pay every year? And which state will be best for my from point of taxes I heard in my situation it will be zero taxes is that right?
Sales Tax on Wedding venues in Oklahoma
Asked onMonday, August 28, 2023 by ScottDoes Oklahoma require sales tax for wedding venue rental? I haven't been able to find this information anywhere.
Payroll
Asked onMonday, August 28, 2023 by RandallI've been paying myself on payroll, I've done it as a sole proprietor and now that I have an LLC and file a 1065. The new accountant I'm working with says I'm not supposed to be doing that. Is this accurate? What are my options going forward? Will I be penalized?
EIN
Asked onMonday, August 28, 2023 by PierreHi, I am trying to transfer my sole proprietor single member LLC to my father. Currently I own it and operate it alone but would like to transfer the ownership 100% to my father for $0. Currently the company has an EIN my question is how do I advise the IRS that I am no longer the responsible party does he need to apply for a new EIN? What paper/forms do i need to make this transfer
taxing a small business LLC
Asked onMonday, August 28, 2023 by RaymondI'm looking to start a small business for contractors. I've being seeing something about taxing a LLC as a S Corp or being taxed as an individual if I'm understanding correctly. I would like to know the proper way to set up taxes in regards to my future LLC before jumpiing into it.
Inheritance question
Asked onMonday, August 28, 2023 by AaronI am the executor of my fathers will. Everything is straight forward, other than he has a stipulation that any body under 21 doesn’t get their portion until they turn 21. What is the best way to go about doing this as it will take 1-6 years for the younger ones to get their inheritance. And we don’t want it just sitting in some bank account making .5% APR when we can throw it in a cd and have of make 4-5%. Thanks!
W4 form
Asked onSunday, August 27, 2023 by MelissaI need help filling out W4 form with multiple jobs
Is a lump sum payment for a promissory note subject to being taxed?
Asked onSaturday, August 26, 2023 by MarkI was offered $90k to sell a promissory note. I would like to take that offer. Once I get that lump sum, am I going to be expected to pay taxes on it? Thank you, Mark Chang 202.491.0307
Capital Loss Offset & Carryover
Asked onFriday, August 25, 2023 by RICHARDI lost 1 million from real estate development investment. If I gained 300K from stock investment, would I be able to offset the capital loss? Also, If I gained another 700K next year, would I be able to offset the rest of the capital loss?