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On CA form 3805v in Part II (calculation of MTI), if I have

On CA form 3805v in Part II (calculation of MTI), if I have a negative AGI from Form 540, line 17 and I have a deduction from Form 540, line 18 (the former is larger than the latter), do I: (1) add these to arrive at a smaller negative number, (2) subtract line 18 to arrive at a larger negative number, or (3) limit the amount to the figure in line 17 on Form 540? Is my question confusing?JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: I don't think so...I am just confused on subtracting a positive number from a negative number.

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Arthur Rubin

Doctoral Degree

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Tax year 2015, claimed son, as non costodial parent with

tax year 2015, claimed son, as non costodial parent with form 8332 from mother authorizing me to claim him, IRS came back with form 886-H-DEPJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: there are alot of options on this form and a massive amount of docs to collect that dont seem appropriate. Need help determining which to collect.JA: Is there anything else the Accountant should be aware of?Customer: Name change 7 years ago, but have been claiming him alternate years.

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Robin D.

Vocational, Technical or Trade School

25,324 satisfied customers
My mother passed away this year in Mississippi. My sibling

My mother passed away this year in Mississippi. My sibling and myself were left $20,000 each. Will be we taxed on the inheritance?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Like what?JA: Is there anything else important you think the Accountant should know?Customer: My brother, sister and I each received the $20,000, but my sister and myself received land. How do we need to file these inheritances on our taxes?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,938 satisfied customers
My friend has been receiving book royalties from a German

My friend has been receiving book royalties from a German publisher and she just received a sizeable royalty advance on a new book. Does that make her a German taxpayer? She's American and doesn't travel to Germany in connection with her books.

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Robin D.

Vocational, Technical or Trade School

25,324 satisfied customers
I was self-employed (and still am) up until June of this

Hi! I was self-employed (and still am) up until June of this year. As of June 1st, I will be classified as an employee. I have always paid estimated taxes for the past 3 years on my 1099 income and typically pay about 36% of my 1099 income in estimated taxes and then get a small tax refund later. I am trying to fill in my W-4 now and I tried to use the IRS withholding calculator to verify that I don't need to withhold any additional taxes from my paychecks when I am officially employee status.I am single with no dependents. Is it likely enough for me to pay the estimated quarterly payments on my 1099 income at about 36% of that amount as I normally do and then file single claiming 0 on the W-4 or will I likely owe some additional taxes?Thank you for your help! I appreciate it.

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Robin D.

Vocational, Technical or Trade School

25,324 satisfied customers
My client is in the US on a student visa. He has no SS# and

My client is in the US on a student visa. He has no SS# ***** has never been required to file a US income tax return. He is currentky selling his principal residence that he paid cash for and the capital gain will be much less than the$250,000 lifetime exclusion. Does the settlement agent have to withhold 10 % of his procedds?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: No, Just that we wouldn't even have a SS# ***** identify the money if it's sent into the IRS

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Robin D.

Vocational, Technical or Trade School

25,324 satisfied customers
My LLC is Delaware based with principal place of business in

My LLC is Delaware based with principal place of business in San Francisco, CA. We'd like to hire someone to work from his home in Florida, doing social media work - does this constitute having a business connection (nexus) in Florida?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: noope

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Mark Taylor

Certified Public Accountant

Masters

3,388 satisfied customers
LLC entity was formed in 2016. In error, Partnership 1065

LLC entity was formed in 2016. In error, Partnership 1065 return was filed instead of filing Schedule C, where 1% was given to the son. Is there a way to revert the filing? Basically, void 1065 already filed and file Schedule C instead?

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Mark Taylor

Certified Public Accountant

Masters

3,388 satisfied customers
When is the business "start date" of an LLC on a 1065? When

When is the business "start date" of an LLC on a 1065? When the company started operations (e.g., selling products to customers) - or when the LLC registered with the Secretary of State's office?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,938 satisfied customers
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