How to show the sale of a corporation that continues to
How to show the sale of a corporation that continues to exist. The sales contract shows the dollar amount paid for inventory, common stock (not paid in excess), equipment, goodwill and covenant not to compete( these 2 were not on balance sheet prior to sale) this was a cash sale paid in full.The corporation will continue with new shareholders, new FEIN.I showed the sale as a short year, the inventory sale on schedule d, the equipment sale on 4797. I was going to show the ending balance sheet at zero. I am not sure how to show the stock sale and paid in excess, nor the good will and covenant. This is a C corp retail food.
Is there a "statute of limitations" on the time span that
Is there a "statute of limitations" on the time span that the state can collect sales tax on an "online" purchase?JA: Because laws vary from place to place, can you tell me what state this is in?Customer: Rhode IslandJA: Has anything been filed or reported?Customer: Cigarette purchases online from Indian Reservation out of state over seven years ago. State now wants sales taxes on those purchases.JA: Anything else you want the lawyer to know before I connect you?Customer: no
Tax advisor and Enrolled Agent
I work from home, I deduct expenses using Home Use expenses
I work from home , I deduct expenses using Home Use expensesusing a certian % use of homeI just had to invest in a new A/C for my houseof about $7,500 got a loan for for 36 months to pay for ithow can I deduct the proportinal % of this investment ?or do I need to depreciate this in 5 year or 7 years or how many years?
Pearl, what was the deadline dare fr k-1s to be mailed out
Pearl, what was the deadline dare fr k-1s to be mailed out or delivered from businesses to private investors? I am trying to get my 2015, on an extension, done before October 17th, 2016. I need my K-1s from Deihl's Florals and Gifts, LLC of Waterloo, IL. Thanks! ***** @***@******.***JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: The former business partners are real tools! I have obtained the services for William Guy Crouch of Proeller and Moost in St. Louis, MO They can holding the filing, awaiting for this K-1 at only $150.00. they charge $290.00 hourly.
Vocational, Technical or Trade School
I have a k1 that has box 11 code f with a net irc sec 475
I have a k1 that has box 11 code f with a net irc sec 475 income of $28000.JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: i am trying to determine if this should be classified as a short term capital gain as she is not a trader or as ordinary income.JA: Is there anything else important you think the Accountant should know?Customer: no