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Recent Service Tax questions

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?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,706 satisfied customers
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

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Shawn P Adamo

CEO

Bachelor's Degree

4,726 satisfied customers
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.

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Bill

Master's Degree

2,000 satisfied customers
Lane. Thanks again for the help. ------ Can you tell me

Hi Lane. Thanks again for the help.------Can you tell me which of the plan's you described are strictly C Corp and which one's that work for S Corp's? I know the one company that I did the other ESOP for was an S Corp and I like this option but I want to make sure I know which one's need to be a C Corp and which one's are ok for S Corps?------Thanks again. Jamie

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,706 satisfied customers
I think it's actually a legal question. For years I've had a

I think it's actually a legal question. For years I've had a small business with just my self as the employee. It's a C corp, incorporated in NY. I just moved to california. I think, for tax purposes, I'd like to convert the C corp to an S corp. My wife and I had health insurance through her employer. Since she no longer works there, we need to establish health coverage. We're currently paying for COBRA. If I convert the C corp to an S corp, I'll be able to take the health insuruance as a self-employeed adjustment to income. I think. Does that sound correct? and Can I convert a C corp to an S corp?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: I don;t know

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Mark Taylor

Certified Public Accountant

Masters

1,236 satisfied customers
I just filed to reinstate a nonprofit organization's 501c3

I just filed to reinstate a nonprofit organization's 501c3 status which was revoked under the automatic revocation procedure for nonprofits for not filing for three years. The only thing of concern was that the IRS instructions say to submit a $400 fee but the pay.gov wanted $275 and there as no way to change the amount paid. So I let it go through as $275. Do you know anything about this?

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37,948 satisfied customers
I will work as an "independent contractor" for a US-based

I will work as an "independent contractor" for a US-based technology consulting company.My work will mainly be software development services for the company's clients who are based in the US.I will be based in Egypt and will perform all work from Egypt.Is my income from this "independent contractor" setup taxable in the US?If the company transfers my pay (on a monthly basis) to my account in a US bank, does that trigger any taxation?

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TaxRobin

Vocational, Technical or Trade School

21,198 satisfied customers
I have a two-part question regarding taxes. I have been

Hi - I have a two-part question regarding taxes.I have been self-employed Jan - Aug 2016, total income 91,132.00Estimated taxes paid Q1 - Q3: Fed 9,100; GA 1,400 eachNow, as of Sep 2016 salaried employee with annual income 114,000.Question 1: would it be prudent to pay the estimated taxes for Q4 just in case (withholdings with new job is 1 each)Question 2: I have been funding a SEP - to-date 15,000 - can I put another 5,000 since the 401K with the new company is not available until Jan 2017?PS: I do not have an IRAMany thanks,Vera

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,706 satisfied customers
How much the Buyer's agent (real estate agent hired by

How much the Buyer's agent (real estate agent hired by myself for my best interests) will charge me if the price of the single family house is 415k?Govt will also take any percentage such as sales tax from me on purchase price?

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Emilee Weaver

Controller

Masters of Professional Accounting

48 satisfied customers
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