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Our non profit is looking to purchase some cosmetics from a

Our non profit is looking to purchase some cosmetics from a French company. We are hoping to contract with this company a discounted rate on the items so that we can sell them in the US to underwrite our charity. Can the French company use the discounted amount as a tax deduction on the items under French tax laws?

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Dr. Fiona Chen

President

Ph.D.

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Currently, my father in-law pays my wife a salary and takes

Currently, my father in-law pays my wife a salary and takes out taxes, social security etc.We formed a LLC. We are wondering if my father in-law paid the LLC vs. my wife, if there are tax advantages for us or would we have to pay more because of state business tax on that income + state taxes, fed, and social security?

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Mark Taylor

Certified Public Accountant

Masters

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I live in Texas and would like to sell a few things on eBay.

I live in Texas and would like to sell a few things on eBay. I'm not trying to make it into a business at this time, but I read that since I live in Texas I need to get a state tax id, because I have to charge Texas customers, sales tax. I applied for one, and just put "home- eBay" as my business name. I wasn't sure if that was the right thing to do, please help. Also, I'm not sure what I need/can report when I file taxes. Hope this makes sense. Thanks

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Mark Taylor

Certified Public Accountant

Masters

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324 satisfied customers
I have a registered LLC in Delaware. In 2016 I have so far

I have a registered LLC in Delaware.In 2016 I have so far lived in NYC, HI, and now looking at moving to either CA, or FL.What state would my tax return be done in?I'm looking at moving to FL in October for the remainder of the year, hoping that would give me the tax benefits from that state.I have a NY drivers licence, and a HI state ID card just for some extra info...Last years tax i filed in HI, even though I didn't move here until February 2016.Really unsure of what I should be doing as I move around so much.Thanks

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Dr. Fiona Chen

President

Ph.D.

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62 satisfied customers
I just amended a clients returns, 14 and 15. I would like to

I just amended a clients returns for 2013, 14 and 15. I would like to work out the interest they owe for each year so they can make an accurate payment. I find it confusing, as IRS wiill give a percentage to add to another rate. I do not find a table anywhere. For that matter, I would accept a workable rule of thumb that would get me close to the correct answer, if that was available. I run into variants of this problem routinely in trying to work out penalties. My computer- Intuit Pro Series--calculates pretty much everything else. What is the solution?

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Dr. Fiona Chen

President

Ph.D.

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62 satisfied customers
Am interested in purchasing a Tesla Model X primarily (say

Am interested in purchasing a Tesla Model X for use primarily (say 90%) in business. I want to understand the interaction of:1) Federal $7500 credit for electric vehicles2) Section 179 deduction for business equipment3) Bonus depreciation rules for aboveI would like to take advantage of all legal deductions/credits but not do anything that isn't completely above board

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PDtax

Owner

Master's Degree

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6,766 satisfied customers
I got that a 1099 can be ammended to a capital gains. Are

I got that a 1099 can be ammended to a capital gains . Are their any benefits for the landlord for submitting under a 1099 versus capital gains . why would they choose one over the other for a buyout of a rent stabilized lease .what are my benefits in Florida under 1099 and in NY under capital gains . Does it have to be a NY asset if I got the buyout from a NY apt. evne though I reside in Florida

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Robin D.

Vocational, Technical or Trade School

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20,596 satisfied customers
I live out of the USA + days a year between 2 foreign

Hello,I live out of the USA for 330+ days a year between 2 foreign countries. In one I am about 183 days (where there are 10+ people working for my company in the USA) and the other about 180. The company I have also has an office in FL and I have a FL driver's license.My income is from personal services performed in a foreign country an my tax home must be in a foreign country ( https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion-requirements ).I conduct business over the internet from where ever I are physically and that you personally are not physically present in the FL office (or in any other physical location in the US).Some of the people who work for me are physically located in the US as well as in other countries & I communicate with them via internet. I also have P.O boxes in the US and one of the businesses (LLC) has an office in the USA.Can you cite IRS opinion letter or legal reference in your answer please.Thank you

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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16,742 satisfied customers
I own several rental properties and sold three in 2015. I

Hi, I own several rental properties and sold three in 2015. I will have a substantial capital gain on the order of $500,000 as a result of these sales (mostly deferred gain since they were all acquired in exchanges).. In completing my Schedule E, it turns out that for 2015 my net rental LOSS for all the properties for the year is about $50,000. More than half of this loss is on the properties I sold. Will I be limited to $25,000 or will I be able to put the whole $50K on page 1 of the 1040? (I realize that there are other factors at play here but I am hoping that you can isolate this one thing. I've googled around and it appears that if I sell a property that has deferred passive losses I can take them in the year of sale, which is really the same thing as what I'm describing. I'd appreciate any clarification you can give me, including any references you may have to back me up if I'm right. Thank you!

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Mark Taylor

Certified Public Accountant

Masters

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324 satisfied customers
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