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I started an Ecommerce business last year and I was doing my

I started an Ecommerce business last year and I was doing my own taxes but then things got difficult and I filed for an extension. Who can I contact to help me with this situation?

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

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I need a copy of my cp 575. How can I get one faxed to me

I need a copy of my cp 575. How can I get one faxed to me today??JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I need a copy today....JA: Is there anything else the Accountant should be aware of?Customer: no

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Robin D.

Vocational, Technical or Trade School

20,962 satisfied customers
I'm a CPA i have a client with late-filed 3520 for frn gifts

I'm a CPA i have a client with late-filed 3520 for frn gifts in part 6, do you have any experience in this area?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Will the penalty be automatically assessed like late filed 5472?JA: Is there anything else the Accountant should be aware of?Customer: No

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Mark Taylor

Certified Public Accountant

Masters

956 satisfied customers
If I receive settlement money from a law suit where my

If I receive settlement money from a law suit where my attorney receives 40% of it, what kind of taxes will be assessed on this money?

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Mark Taylor

Certified Public Accountant

Masters

956 satisfied customers
This one is a little odd. Figuring insolvency to offset

This one is a little odd. Figuring insolvency to offset canceled debt. There is a property for which I received a 1099-A, but not a 1099-C. Since the debt wasn't canceled but the 1099-A is a disposition of the asset, can I claim the liability on the insolvency worksheet and leave off the asset? The 1099-A is dated before the unrelated canceled debt that I am trying to offset.JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: No, it's an interpretation thing. I have a canceled debt on a 1099-C dated in November. In figuring assets and liabilities, I have a property with a 1099-A in May. Since that May property does not have a 1099-C, I wonder if I can use just the debt for that property in Liabilities, but leave the property itself out of the assets since there was a 1099-A for it.

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PDtax

Owner

Master's Degree

6,868 satisfied customers
Have just got a TAx letter, they are taxing my 529

have just got a TAx letter, they are taxing my 529 withdrawalsJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: i made 529 withdrawals in 2014, i received a letter stating the withdrawals were taxable. Thye withdrawals were for my daugther';s college expensesJA: Is there anything else the Accountant should be aware of?Customer: no

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,012 satisfied customers
I use quickbooks online for our small business. We switched

Hi, I use quickbooks online for our small business. We switched over a few months ago. Some jobs that we do, we don't get paid until months later (we get state rebates and sometimes it takes a while). As I am going over each job, I am not sure what to do....a job that was completed in Dec 2015...partial payment was deposited in dec. The balance and some expenses associated with this job were paid in 2016. How do I record this? Is any money collected this year counts as this year's? when I run a report for some reason it is showing no revenues for this year for this job even though I have payments made this year. Basically I am just not sure which year to count sales/revenues for jobs that were done late 2015 but paid either partially or fully in 2016.Thank you

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Mark Taylor

Certified Public Accountant

Masters

956 satisfied customers
QUESTION: For i 864, how do I calculate current individual

For JamesQUESTION: For i 864, how do I calculate current individual annual income. I have paystubs for 8mos starting January until Aug this year. I am full time receiving a salary of 20/hr for 80hrs bi-weekly, with incentives and bonus in between months. Should I get the YTD gross and divide by 8 then multiply by 12 mos?ANSWER: First, you should supply paystubs. Second, you should do exactly as you described - extrapolate your annual income based on what you've earned .Question: Should I calculate based on base pay the remaining Aug to Dec? then add the Gross YTD of $27,000 from Jan to July 2016? Do I need to put exact figures? I'm not sure if I will receive bonus or overtime pay for the remaining months of Aug to Dec.Would you kindly give me sample computation? Tnx

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Mark Taylor

Certified Public Accountant

Masters

956 satisfied customers
When an S-Corp closes it's door and have assets that were

when an S-Corp closes it's door and have assets that were not sold, how is this reported on the last 1120S? Most of the assets have been depreciated and some that have not fully depreciated. But none of the assets were sold.

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610 satisfied customers
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