Join the 9 million people who found a smarter way to get Expert help

Recent tax questions

I started an s-corp over legal zoom but never did anything

i started an s-corp over legal zoom but never did anything with it and never operated and forgot about it. it has been a year. i want to get rid of it. what is the estimate of penalties i will pay?i also worked as an independent contractor for a few months as a job, but never filed taxes on the 1099 because it was only for a few months. Will i get penalties, if so, how much, it's been a year since then. Also, is there a way i can resolve this conflict? Is there a timeline i can re file and include those in my tax filings? Is it fraud to not file this, i do not want this trouble and want to resolve completely.

Read more

 
37,548 satisfied customers
It is a business tax liability, We were audited years (2011,

Hi, it is a business tax liabilityJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: We were audited for 3 years (2011, 2012, 2013). We appealed, everything denied. We incurred about $35000 in interest and penalties.JA: Is there anything else important you think the Accountant should know?Customer: Well we failed to file tax returns for the above mentioned years because our accountant dragged it and dragged itJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
I am creating a small e-commerce store selling clothing

I am creating a small e-commerce store selling clothing items (mainly T-Shirts) within the U.S. and want to know if I need to charge sales tax to individuals within my state of residency or everyone who purchases these items?

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
I am a woman 74 years. My husband and I have a automotive

I am a woman 74 years. My husband and I have a automotive business in New Mexico. My husband is alcoholic. And has a girlfriend. Due to his lifestyle, the business has been rundown. I have fought for years to keep it going. Now the business is for sale but the sale proceeds will not cover debts. I would like to divorce. Question - if I do, will the debts carry with me??? and should I file bankruptcy for relief. Also we owe the State of NM 35k in business sales taxes and unemployment taxes. We own a home together and the business property is also in our names. What are my options????

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
I have a client who left CA in April 2012 and is being

I have a client who left CA in April 2012 and is being assessed taxes plus interest,collection fees and ;penalties on a 1099 income.. He was out of state when many of the payments were received in his new home in Texas. The added costs are almost as great as the original tax.. CA FTB is threatening to file a lien or levy. My client did not realize he had any tax liability to CA. The Payer is from Calif. Do I simply take the amount he was paid when in CA and file a CA return pay tax based on that? No CA return was filed, as client only had this small CA income. How much CA 1099 income must he make to be subject to CA tax.? Any ideas or tips?

Read more

Barbara

Enrolled Agent, Paralegal

 
4,688 satisfied customers
These are questions CPA who specializes in taxes. 1) I would

These are questions for a CPA who specializes in taxes.1) I would like to use my rights to my ex-spouse's pension plan to buy out his half of the house. In doing so, will I get an increase in cost basis for the house without having my ex-spouse incurring any tax liability (as no money has currently changed hands)? Which section of the tax code would support this?2) Separately, can the cost basis for my half of the house be based on the date of our divorce instead of the date of purchase? Which section of the tax code support this?We cannot sell jointly and get the $500k cap gains exemption as the separation decree was more than 3 years ago.Thank you.

Read more

PDtax

Owner

Master's Degree

 
6,658 satisfied customers
I need to fill out a TPT-1 form and I am confused : I just

I need to fill out a TPT-1 form and I am confusedJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I just opened the business on May 15th and its a SPA. I got the TPT-1 form and I dont know if I have to include all my expenses that I had for opening the SPA or if I just put total sales and products soldJA: Is there anything else important you think the Accountant should know?Customer: noJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.

Read more

rakhi.v

Financial / Legal Advisor

Bachelor's Degree

 
3,896 satisfied customers
My question is how to present property exchanged in 1031 on

My question is how to present property exchanged in 1031 on the financial statement? where should I look for guide?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Do you have to present deferred gain of your property exchanged somewhere in financial statement?JA: Is there anything else the Accountant should be aware of?Customer: Your clue will be appreciated?JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
I got a letter from the IRS concerning m 2013 tax returns.

I got a letter from the IRS concerning m 2013 tax returns. They want proof of my deductions for medical, home office, and contributions. I don't have any of that. We had a tornado touch down two weeks ago and there is water damage in my attic. My father-in-law (who lives with us) accidentally threw away all of our records. Worse case scenario, what can I expect?JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: Will I have to worry about my other returns being audited? I lost everything to prove my expenses.JA: It's hard to know for sure. The Accountant will figure it out. OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.

Read more

Lev

Retired

Bachelor's Degree Equivalent

 
24,192 satisfied customers
View more tax questions

How JustAnswer Works

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Pay nothing to your Expert if you're not satisfied.

In The News