In the state of TX, if a church organization (unincorporated
In the state of TX, if a church organization (unincorporated religious association) sells a tax exempt property to an individual that is not another non profit, is there a property tax liability for either the buyer or the seller (from the proceeds of the sale) at the time of the sale?
JD, MBA, CFP, CRPS
I own a business that operartes in New York State and the State
I own a business that operartes in New York State and the State of New Jersey. Seperate Licenses for each state. The bulk of my business is a tax exempt building in New Jersey. I have included in my NYS Sales tax the deposits from my New Jersey account that is tax exempt. Have I overpaid taxes to the State of New York?
Can a not-for-profit orgainzation rent space to a for-profit
Can a not-for-profit orgainzation rent space to a for-profit entity without losing the not-for-profit property tax exemption providing the not-for-profit entity (Church) does not receive compensation exceeding what is allowed? Please give me a citstio in the NYS tax code to verify this face.
I had some wood flooring installed last year for $3000 in a
I had some wood flooring installed last year for $3000 in a rental property that I was staying in at the time. Does this count for a federal sales tax exemption? The Turbotax help guide lists 'building materials for major home improvements' as an appropriate exemption but then it indicates not to include "items purchased for your business or rental property" as exemptions.
HoldCo, a single member LLC, owns a 50% interest in OpCo and
HoldCo, a single member LLC, owns a 50% interest in OpCo and has no other activity except to own those membership interests.On October 1, the member of HoldCo sells his interest in HoldCo to Buyer - effectively transfering the interest in OpCo, but at the holding company level.The question is, how is the income in OpCo through October 1 treated? Will the Buyer be able to allocate 9/12ths of the income for the year to the seller, and passthrough the 4th quarter results to his tax return?I am the Buyer in this situation, and would control OpCo via the transfer. Tax return work is available for OpCo for FY2016
I have a question about whether I can pay my mother as a
I have a question about whether I can pay my mother as a 1099 assistant.JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I am a very busy Executive for a consulting firm and travel quite a bit. So I need someone to take care of things for me every day that I don't have time for, a personal assistant. My mother recently retired and wants the job.JA: Is there anything else important you think the Accountant should know?Customer: I get paid W2 but also have an establishied LLC for a business I used to run. Can I pay my mother as a 1099 personal assistant?
Tax advisor and Enrolled Agent
Is 0000 the same as 0 on a lock in letter, I recieved a
Is 0000 the same as 0 on a lock in letterJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I recieved a withholding complience letter stating my withholding is 0000.I want to know the meaning of 4 0000 and not just 1JA: Is there anything else the Accountant should be aware of?Customer: No