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If I do some work for a foreign country (Sweden) and get an

Hi thereJA: Hello. What seems to be the problem?Customer: If I do some work for a foreign country (Sweden) and get an income from them, how do I declare it to the IRS?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I do not have my own business, or anything like that.JA: Is there anything else important you think the Accountant should know?Customer: not that i can think of

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Dr. Fiona Chen

President

Ph.D.

264 satisfied customers
An individual is forming a Limited Liability Company. How

an individual is forming a Limited Liability Company. How will the LLC report the company earning to the IRS?

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Mark Taylor

Certified Public Accountant

Masters

904 satisfied customers
International tax question.....I'm a US citizen. my wife is

International tax question.....I'm a US citizen. my wife is a French citizen. She has no Visa to the USA or has a green card or has ever lived in the USA. WE file married but seperate. I live in the US.The question...My wife is selling an apartment in Paris, that she bought before we were married. IT is solely in her name. SHe will pay French capital gains on the property.is there a USA tax liability on this particular sale? She is going to buy another property solely in her name in France.

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Dr. Fiona Chen

President

Ph.D.

264 satisfied customers
I am planning to start an e-bay business selling books. I

I am planning to start an e-bay business selling books. I have about 2000 books as initial inventory, which I have accumulated over the years. The cost of the books is roughly 20k. Say I would only sell books the first year for $2500. In addition to other business expenses would I also be able to deduct the remaining inventory of books (18k) as a business expense in my first year of operation for IRS purposes?

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Dr. Fiona Chen

President

Ph.D.

264 satisfied customers
How do I reflect or report adjustments made by Palmetto

How do I reflect or report adjustments made by Palmetto (Medicare) on my income on the Tax Returns? I have a Home Health Business. They reported on the 1099 to the IRS a higher amount paid than what they actually deposited in the account.

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Robin D.

Vocational, Technical or Trade School

20,936 satisfied customers
I paid $40,000 in back taxes to the city of Philadelphia.

I paid $40,000 in back taxes to the city of Philadelphia. Can I write this off next year on my Federal and State Tax?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: there is no more to tell. If I had paid the tax as required this would have come out of my federal and state taxes as non taxable income. Retroactively can I do this?JA: Is there anything else important you think the Accountant should know?Customer: no

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56 satisfied customers
Does the IRS keep copies of tax returns indefinitely. If

Does the IRS keep copies of tax returns indefinitely. If not, how far back do they go?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I am filing for my social security and my statement says that I have no income for 1984. I know that is inaccurate. How can I get a copy of my tax returns for 1984 or is that too long ago.JA: Is there anything else the Accountant should be aware of?Customer: NO

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Mark Taylor

Certified Public Accountant

Masters

904 satisfied customers
In 1990 my grandmother created a trust. She at that time put

In 1990 my grandmother created a trust. She at that time put her home in the trust.My father and her sister, (no other siblings) were the original partners in the trust.My father died and then my mother. In their wills their interest in the trust were given to me and my brother. My grandmother died recently and because my parents died, my bother and myself inherited from the trust the 50% interest in trust. My aunt who is still alive retained her 50% share of the trust.The house was last month and will close this month.No one has any idea what the house cost to build in 1950 or any cost for updates, etc.Do my brother and I have to worry about paying capital gains tax on what we receive or do we owe anything in taxes?

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Dr. Fiona Chen

President

Ph.D.

264 satisfied customers
Tax Experts One of my client's is planning to use foreign

Tax ExpertsOne of my client's is planning to use foreign web designers for his business. His business is S-Corp.1. Is he required to do tax withholding on US based income paid to foreigners (person or corporation).2. Do they need to have US federal ID?3. What forms need to be filed and how often?4. Is foreign person required to file US tax return?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,234 satisfied customers
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