My company has done very well over the past couple of years,
My company has done very well over the past couple of years, and I hold stock in it. My financial advisor has told me I need to sell some of that stock. These are restricted stock units (RSUs) which are part of my compensation. I'm afraid that selling the stock will trigger AMT. It will likely amount to approx. $500,000 capital gain. Will this be a problem?
JD, MBA, CFP, CRPS
Hi, I have set up a Mining Consultancy service in NZ but 90%
Hi,I have set up a Mining Consultancy service in NZ but 90% of my work is in South Africa and Australia with the rest being in NZ. I am paid in AU$ and I dont charge any gst (accountant said I am zero-rated). Is it correct that I dont need to register for gst in Australia as long as I dont exceed the $75k threshold? I will have in total about 4 mining clients in Australia and 1 in South Africa.Thank you in advance for your time.LM
Im on long term disability. I have two blocks of money. One
I'm on long term disability. I have two blocks of money. One is a retirement fund and the other is my 401k. These are currently being managed by my former employer. I've heard that I can withdraw my pension fund without penalty except for taxes. I'm 52 years old single but my home is shared with my ex partner. We both reside in the home with his mother.One option I was considering was to pay off my the home loan. Not having that monthly payment would be a great relief. But, it would also be a risk for my retirement fund. Currently, my 401k is invested in the stock market. That makes me very nervous. Its only now that my 401k has gotten close to what it was pre-stock drop. But, putting that money in an IRA making basically no interest doesn't seem wise at all.I definitely want the pension money away from my employer. The 401k I'm not sure about. Currently that money is in a age-driven fund. As I get older, the investment shifts to less risky options.Sorry, I know that's a lot of questions. Thanks for your help.
How do i fill out Form 8594 for assets purchased.
How do i fill out Form 8594 for assets purchased. Alllocation of purchase price is as follows:$5000.00 office and professional equipment and furniture$10,000.00 all patient medical, billing, and business records, signage,and telephone numbers and listings$40,000.00 Goodwill of Miller Chiropractic LLC$0.00 non compete agreementTo what asset class do the above items belong?
I have a client who had a Sole, filling on Schedule C and in
I have a client who had a Sole, filling on Schedule C and in 2016, I elected it as an S-corp. His cars are to be transferred to the S-corp. the value/basis of his personal is larger than me looking at the book value and using that on his S-corp what happens to the difference? Loss on personal or loss?JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: you want figures? it's general question
Sr Financial & Tax Consultant
Appropriate reimbursement per diem: Our board approved
Appropriate reimbursement per diem:Our board approved policy is 50% of the M&IE rate, but the government allows 75%, with, as item 10 on the link states, "no exceptions."http://www.defensetravel.dod.mil/site/faqflday.cfmWe are in the process of updating policy with the board, but, in the interim, which do we use? What is the rationale?Thank you,--jeff
Bachelor's Degree Equivalent
I need to speak with an accountant who is able to answer
I need to speak with an accountant who is able to answer questions about S-corps.JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Our company became an S Corp. legally in February 2016. There are only two shareholders at 50-50 (my husband and my son). They each took a wage of $25,000 for the year. We bought TurboTax for S corps and I had a question. Unfortunately I have not been filing quarterly wage reports. However I do have all the tax money saved in the bank to send to the government and the state. So my question is, do I give my husband and son each a W-2? To report their wage of 25,000? Even though I haven't paid the government does Social Security taxes yet. I was hoping to just pay them NOW at the end of the year since I didn't realize I needed to do it quarterly.JA: Is there anything else important you think the Accountant should know?Customer: TurboTax is allowing us to create either 1099s or W-2s ( One for my son and one for my husband). On top of the 25,000 wage, we did On top of the 25,000 wage, they did have $5000 each in distributions as well
Sr Financial & Tax Consultant
Notice of intent to seize(levy) your property or rights to
Notice of intent to seize(levy) your property or rights to property from IRSIssue related prior my question:http://my.justanswer.com/question/index/6c7ea7144f4f461eb308885ae000c3e7?continueTheConversation=False&comingFromAdservEmail=False&ratedThroughEmail=False&rating=0&paymentType=UnknownRecent updates:Feb 15: My accountant wrote letter describing issue with payroll software issue and requesting for late payment penalty wavierMar 15: Received acknowledgement letter regarding receipt of the Feb 15 letter and issue is being looked atMar 20: Notice of intent to seize(levy) your property or rights to property from IRS. Pay the Penalty by Mar 30. Failure of payment by Mar 30 may levy property or rights to propertyMy accountant is writing another letter to IRS. But I am concerned since the deadline date is Mar 30 and IRS will levy property or rights to property. Please advice..
I have Independent Contractors that I pay for services
I have Independent Contractors that I pay for services rendered (paid as a Vendor) - if there services are $2,000 I pay $2,000 without any witholding taxes taken.When I'm filing my Quarterly 941 with the IRS do I need to calculate my firm's portion of taxes due on the aforementioned $2,000 and include those tax payments in the quarterly filing?
Vocational, Technical or Trade School