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I have been doing my taxes for years as my business has

I have been doing my taxes for years as my business has grown..I supply a total of expenses and sales to my accountant and they put it together..Now I am being audited..I am no longer in a rush and I am counting deposits and gross sales and purchases..My 2015 gross sales shown were(###) ###-####.But My deposits are showing(###) ###-####..My purchases look higher then what was stated and my profit and loss is a disorganized upside down mess..I now I am up the creek here.I am hoping I will not go to jail.As I look at my deposits I notice I might have made 300k a year which I cant really imagine and I showed 145k for the year.I am counting up s items in more detail of course since I am going to be audited..If I had to sell my house or refi it ,it that would be a relief..I was flying to Las Vegas to see a specific management system for my business that does the whole program with training ..I am between asking for an amend to redo it or just pay what ever..I am lost..tax laywer say dont worry which is like saying who cares..any advice?JA: It can cost anywhere from $10 to $100, depending on the type of issue and how much of the Accountant's time your question is expected to take (how complex and lengthy an answer you require).Customer: basic good advice is helpfulJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: You have the whole thing alreadyJA: Is there anything else the Accountant should be aware of?Customer: no

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,598 satisfied customers
Is a building sign (channel letters) that is attached to a

Is a building sign (channel letters) that is attached to a retail store taxable in the State of New jersey. I believe this should be a capital improvement and sales tax should not be charged. Am I right?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I want to know If I purchase a new sign sign for my retail store in New Jersey that will be attached to the front of my building (typical channel letter sign) does NJ require sales tax to be paid on the sign?JA: Is there anything else important you think the Accountant should know?Customer: no

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Matthew Breecher

President

MBA

90 satisfied customers
May I ask one question regarding foreign LLC registration? I

Good morning Pearl, May I ask one question regarding foreign LLC registration?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I created one single member LLC in MD, doing home-based computer consultant work, all my earnings from MA, that is, invoice directly paid by another company B in MA, in that case, should I file foreign LLC registration in MA? many thanks!JA: Is there anything else the Accountant should be aware of?Customer: No, thanks

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Matthew Breecher

President

MBA

90 satisfied customers
I filed a 941 hastily last year and realized I marked

I filed a 941 hastily last year and realized I marked distribution funds as payroll items. It was 2 withdraws with part of each supposed to be paycheck net and the other part of each supposed to be distribution. I operate an S corp.

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PDtax

Owner

Master's Degree

7,918 satisfied customers
I have turbotax Premier on my computer. I filed my 2016

I have turbotax Premier on my computer. I filed my 2016 Income Tax Return On Line without any problems. When I tried to file my Spouse's Income Tax Return On Line I was unable to do so as Box 21, The Number of months - disability disability and Box 23, The number of months Retirement on Form T4A (P) were not filled in. Both Boxes were blank so I ignored the request. I was unable to file my Spouse's return on Line. I then decided I would mail her Income Tax Return. I clicked on "Print to Mail" and the Duplicate Pages were printed- not the Original. Is there any way now that I can file her Return On Line, or print the Original Pages of her return?JA: Just to clarify, what's the make and model of your machine, and what operating system are you running?Customer: I have an Apple Computer, I don't know the Model but it is about 5 yrs old. I and I have Parallels Desktop for turbotaxJA: Have you installed any updates recently?Customer: Not recentlyJA: Anything else you want the computer expert to know before I connect you?Customer: I had no problems whatsoever filing My Return on Line

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50 satisfied customers
We started a company in 2013. During that first year, we put

We started a company in 2013. During that first year, we put some of the expenses on our own accounts. We intended to reimburse for the expenses out of the corporate account, but simply forgot. It was a small amount, less than $5000. Can we amend the 2013 return? If so, what's the correct way to account for this?JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: no

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

11,040 satisfied customers
I am a Limited Partner of an LLC (form 1065) and received a

I am a Limited Partner of an LLC (form 1065) and received a Final K-1 which shows a loss in box 1 of ($21K). During the prior three years my K-1 losses from this LLC were ($79K) meaning that my total cash investment in and loss sustained was ($100K). In prior years my Accountant could not take the losses as a deduction on my tax return because I was a Limited Partner and had no passive income to use against these losses. Can I now take the entire $100K loss because the LLC has gone out of business. If so does it end up on Schedule E/Line 17 on my federal 1040?

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

11,040 satisfied customers
Ok, I understand, "The Line 4 would include the estimate of

Ok, I understand, "The Line 4 would include the estimate of your tax liability before any payments (withholdings and estimated tax payments) were made"., However, what if I have not added my deduction or expenses since I am an independent contractor? I'm not a 100% sure of how much I really owe since I'm estimating without any deductions/ business expenses.

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Brian Michels

Partner

Bachelors of Business Administration

220 satisfied customers
I have an unit agreement with the company I work for as an

Hi I have an unit agreement with the company I work for as an executive accountant. Every year I gain a certain % of tax basis in the investment company. I am wondering if I should receive a K1 form even if the company is losing money. thank you

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Arthur Rubin

Doctoral Degree

1,856 satisfied customers
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