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Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 2967
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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Happy New Year! Who is a good tax prep accountant? I live in

Customer Question

Happy New Year! Who is a good tax prep accountant? I live in Las Vegas, but I only want a good company no matter where they are.
Tax issues #1: S corp with substantial income at year end, check in the mail now. With this last check, I will roughly break even for 2015. May I include this income for 2015, even though it will show up on the 2016 bank statement?
Tax issues #2: I traded options all year, ended up with a substantial overall loss; about 300 trades. This is downloadable from the brokerage; but some special rules apply to my SLV trades. Some trades carry over from 2014
Tax issues #3: Substantial international wire to my personal account.
Bought 2 cars in 2015, had a mortgage all year, married filing separately.
Submitted: 1 year ago.
Category: Tax
Expert:  Barbara replied 1 year ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Just Answer prohibits experts from making specific recommendations for people/companies. My best advice would be to speak with several Enrolled Agents in your area to get an idea of their expertise. You can located an Enrolled Agent in your area at the following link:

http://nvsea.org/

As to the points you mentioned in your question,

1. The S corporation will issue a K-1 to you for 2015, and the information on the K-1 will be included on your personal tax return for 2015.

2. You are correct that there is special treatment of options. The following link will provide you with information:

http://www.taxtips.ca/personaltax/investing/taxtreatment/options.htm

3. Depending on the amount, you may be required to report money you received from a foreign person/entity on Form 3520. You can review Form 3520 and its instructions at the following:

https://www.irs.gov/uac/About-Form-3520

Generally, if you are a U.S. person who, during the current tax year, received either: a. More than $100,000 from a nonresident alien individual or a foreign estate (including foreign persons related to that nonresident alien individual or foreign estate) that you treated as gifts or bequests; or b. More than $15,601 from foreign corporations or foreign partnerships (including foreign persons related to such foreign corporations or foreign partnerships) that you treated as gifts.

If your filing status is married filing separate, here are some guidelines:

http://www.efile.com/married-filing-separately-tax-filing-status/

Please know that the married filing separate filing status is usually the LEAST advantageous.

Please let me know if you require further information or clarification.

Thank you and Happy New Year,

Barb

Expert:  Barbara replied 1 year ago.

Just following up with you to see if you have any other questions or concerns. If so, please come back to me here, and I will be happy to assist you.

Best regards ***** ***** New Year,

Barb