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Recent Customs and Border Protection questions

Lev:. LEV only please You come to me very highly recommended

Hello Lev:. LEV only please You come to me very highly recommended by Judith, with whom I am working on an immigration case. Can we talk about a tax issue ? It is going to be so much easier for me then typing...I just woke up...It is 7:00 a.m. where I am, and if you will be available for another 30 minutes, I will be awake enough.I understand a call is around $60.00

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Lev

Retired

Bachelor's Degree Equivalent

24,808 satisfied customers
My fiancee has been in Ghana West Africa lately where she

My fiancee has been in Ghana West Africa lately where she procured 37.5 kilos of gold bullion. What are the taxes when shipped to the United States?

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

5,354 satisfied customers
I am a U.S. citizen but have been living in the Bahamas for

I am a U.S. citizen but have been living in the Bahamas for about 9 years. I have not filed taxes since I've been gone. I was making between $30,000 and $50,000 a year. I'm married now and I'm wanting to move back to Florida. Wondering if I will have any problems Bringing back to the U.S. around $30,000 to start up a business. Will I have problems from not filing all these years and will I have to pay any back taxes or taxes on the money I will be bringing into the country? I am also a dual citizen of the Bahamas. I'm American and Bahamian. Also does it be a problem bringing all that money at once into the U.S. because I know they say your not suppose to bring in more than $10,000

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Robin D.

Vocational, Technical or Trade School

24,042 satisfied customers
Hello. I am a US citizen and have been living abroad for a few years. My wife is not a US

Hello. I am a US citizen and have been living abroad for a few years. My wife is not a US citizen. My father who is not a US citizen and never lived in the US recently passed away in the country abroad where I have been living. He left me an inheritance in cash (300K) USD. Now we are planning to move back to the US. What is the best way to bring this money to the US?

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Lev

Retired

Bachelor's Degree Equivalent

24,808 satisfied customers
Will a person receiving a silver wedding gift sent from Austria

Will a person receiving a silver wedding gift sent from Austria to France have to pay a duty or tax? Will the person sending the gift have to pay a tax or only shipping charges?

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5,016 satisfied customers
I asked what the laws were for my fiance from bringing

I asked what the laws were for my fiance from ghana bringing in gold bullion from ghana and the answer was vague and bad.I want to know since it is a gift from her mother is it legal for her to bring as our wedding gift ,question 1 and 2 how much tax is on it if any.Your reply was 1st $100,000 not taxed ,but what is the tax on the rest since she is bringing $600,000.

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Lev

Retired

Bachelor's Degree Equivalent

24,808 satisfied customers
If I am the sole shareholder of an s-corp that breaks even

If I am the sole shareholder of an s-corp that breaks even (total revenue is 20K expenses = 20K) and I have no other personal income, do I still need to file a 1040? There is $0 income on the return.

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

10,330 satisfied customers
I surrendered a life insurance policy this year that I had

I surrendered a life insurance policy this year that I had borrowed against several years ago. I was told that the total value of the policy would be taxable. the amount I received was $4,528.23 and they have reported $112,009.63 as the unused premium. This did not take into account the $25,403 that I have paid them in interest over the years nor the premiums paid for the policy. The $112,009 was reported on a 1099R which i understand is a retirement account. As this was a life insurance policy I don't understand this. First, is that entire amount taxable and is a 1099R the correct form to report it? Thank youJA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: Not that I can think of, but I'm over my head so if you see anything else please let me know

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ABC Accounting Group

Bachelor's Degree

978 satisfied customers
SEP IRA question: If I make a contribution to my SEP IRA in

SEP IRA question:If I make a contribution to my SEP IRA in February 2017 to apply to 2016, but my contribution is over the calculated limit based on my self-employed profit... can I just leave the excess amount invested and then take the tax benefit for that excess amount in 2017?

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Lev

Retired

Bachelor's Degree Equivalent

24,808 satisfied customers
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