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I have a registered LLC in Delaware. In 2016 I have so far

I have a registered LLC in Delaware.In 2016 I have so far lived in NYC, HI, and now looking at moving to either CA, or FL.What state would my tax return be done in?I'm looking at moving to FL in October for the remainder of the year, hoping that would give me the tax benefits from that state.I have a NY drivers licence, and a HI state ID card just for some extra info...Last years tax i filed in HI, even though I didn't move here until February 2016.Really unsure of what I should be doing as I move around so much.Thanks

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Dr. Fiona Chen

President

Ph.D.

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We have a very large term capital gain . Does this push our

hi...we have a very large long term capital gain for 2016. Does this push our regular income tax into a higher bracket?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: we have a long term capital gain of $330,000 for the 2016 tax year. My wife and I have combined income of about $180.000 and file married jointly. Will the regular income of $180,000 be taxed at the high or highest rates of 35% and 39.5% respectively?JA: 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.

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Megan C

Master's Degree

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Does a (non-offshore) voluntary disclosure have to be accompanied

Does a (non-offshore) voluntary disclosure have to be accompanied by an amended return? Or can a taxpayer simply indicate a willingness to cooperate with the IRS in determining his or her correct tax liability and to pay in full, the tax, interest, and any penalties determined by the IRS to be applicable? Is there any downside to the taxpayer indicating that he is willing to do so in regard to say the last six years, and it turns out that only two or three years of returns actually need amendment?

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Barbara

Enrolled Agent, Paralegal

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4,868 satisfied customers
My accountant just sent me my tax return says i owe 85000

hi my accountant just sent me my tax return says i owe 85000 personal i have an s corp my business does around the number every year i asked her she said she eating dinner i wanted too throw up somethings not right and i dont fell like talking too her any more can i have someone else redo my returns they where electronicly filed already

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

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I am a 701/2 yr. old single woman, still employed, receiving

I am a 701/2 yr. old single woman, still employed, receiving W2's. I was told I could take the RMD from my Traditional IRA, reinvest the RMD back into my account, without paying taxes on that money. Is that correct? Would that benefit me or the company? I don't want to pay any penalties, and do anything wrong.Thank you so much for your reply.Denver Colorado

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Lev

Retired

Bachelor's Degree Equivalent

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I plan to open a LLC in USA where operation of the business

I plan to open a LLC in USA where operation of the business will be handled offshore. One option is to set up LLC as a single person LLC and show all the expenses and profits of my India Partner as expenses of LLC. This will keep obviously keep it simple but may increase tax liability as all profits will pass on to my personal tax return. I am expecting profits to be very small in the beginning.Another option is to set up LLC as multiple partners (me and offshore partner). Multiple partner LLC would be more complex than one partner LLC especially because offshore partner will be involved.I know that LLC can be created with multiple partners. I wanted to seek your help in guiding me with pros and cons of these 2 approaches and a recommendation.

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Lev

Retired

Bachelor's Degree Equivalent

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24,192 satisfied customers
Tax planning purposes, do you have advise on how

For future tax planning purposes, do you have advise on how we can reduce our state tax bill with Michigan. We understand we will need to establish residency, not sure how to do that other than next year selling our Virginia home and then getting kids their driving lessons and license renewal. We live abroad and want to comply with federal and state tax laws. If you can offer advice, we are seeking help with complicated expat tax comprehension.Thanks again

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

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Should I expect to pay Michigan state income tax on

Should I expect to pay Michigan state income tax on worldwide income as a non-domiciled resident for income earned above FEIE? We have been paying National and local taxes since we moved abroad 9 months ago.

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

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It is not about tax issue. It is about presenting the balance

It is not about tax issue. It is about presenting the balance sheet. Three shareholders purchased an S "Corporation for 1.5 million on a stock sale.JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: The corporation balance sheet has a treasury of stock of 1 million in its equity section. Since it is a stock sale, all the items are kept in the balance sheet as they are. As a result of the treasury stock, the equity is negative. How does the Corporation get rid of this? The corporation has no cash. The profit of the S Corporation is distributed to the shareholders every year.JA: Is there anything else important you think the Accountant should know?Customer: In a stock sale, can the shareholders make an entry for goodwill that will not be amortized to account the price paid in excess of the part.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.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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