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Recent Tax Law questions

I live abroad in the UAE and haven't filed in 4 years now.

Hello there, I live abroad in the UAE and haven't filed for taxes in 4 years now. Do I need to pay tax if I earn less than $30k? Are there any penalties that I should be worried about? I can obtain most of my pay stubs to document my earnings.

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Lane

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My dad gave me a bunch of "junk" before he passed a few

My dad gave me a bunch of "junk" before he passed a few years ago and told me I could sell it if I could get anything for it. Do I have to declare those sales as income ?

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Robin D.

Vocational, Technical or Trade School

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What needs to be included on a c-corporation dissolution

What needs to be included on a c-corporation dissolution plan to the IRS?From IRS form 966: "Attach a certified copy of the resolution or plan and all amendments or supplements not previously filed." I want to file the final corporate tax return for this entity. Thanks.

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Lane

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Term (20 to 40 yr investing question) blue chip stocks like

long term (20 to 40 yr investing question) blue chip stocks like GE, IBM and J&J. Can I have an expert in that area please.

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Lane

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Our non profit is looking to purchase some cosmetics from a

Our non profit is looking to purchase some cosmetics from a French company. We are hoping to contract with this company a discounted rate on the items so that we can sell them in the US to underwrite our charity. Can the French company use the discounted amount as a tax deduction on the items under French tax laws?

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Dr. Fiona Chen

President

Ph.D.

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I have my interview on the 4 of August i file taxes husband

I have my interview on the 4 of August i file taxes for my husband wholives in Jamaica but have a social security will it prevent me from getting my citiczen ship i am worried

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Lane

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Situation: resident. A non-US citizen wants to give me a

Situation: I am US-resident. A non-US citizen wants to give me a cash gift. In order for me to get the cash gift, the non-US-Citizen must first make a transfer to her account located in the US (this is required by the donor's financial institution overseas). then:1. Do I pay taxes on the cash gift, if the amount is greater than US$ 100,000? Do I pay if the amount is lower than 100,000?2. How would the cash gift affect my tax filing for the next year and future years? (if it is less than US$ 100,000 or greater than US$100,000)3. Once the cash gift is my account, and I want to withdraw partially or totally the money (to invest or spend it) do I pay taxes? If yes, how much would be the taxes and does it depend on the size of the amount withdrawn?4. Is there another way, to get the money (cash gift or transfer from the US account) to minimize the amount of taxes? such as society or trust? (for amounts lower and greater than US $100,000)5. Do US banks have to report to the IRS and other countries the size of the transfers? (meaning that I would get a tax report from my bankto file with the IRS or other financial institutions)6. I will apply to become a US-citizen in the future. Do you know the implications of this cash gift for my application as a US-citizen? (This is more of an immigration question, but maybe you had dealt with customers with similar situations)Thank you.

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Lane

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Filed 2012 Federal and North Carolina tax returns on time.

Filed 2012 Federal and North Carolina tax returns on time. North Carolina now says they did not receive original return. Am preparing to send copy of NC return as original. Married, changed name in 2014. Do I send 2012 return in maiden name or married name or both with explanation?

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Lane

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Doctoral Degree

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On the 1065 K-1, line I1, it asks type of entity. What do I

on the 1065 K-1, line I1, it asks for the type of entity. What do I enter for a decedent's estate?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: The income/loss from the K-1 will flow through to a Form 1041 (decedent's estate)JA: Is there anything else important you think the Accountant should know?Customer: No

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Lane

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