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Recent Tax Rules questions

I live in Texas and would like to sell a few things on eBay.

I live in Texas and would like to sell a few things on eBay. I'm not trying to make it into a business at this time, but I read that since I live in Texas I need to get a state tax id, because I have to charge Texas customers, sales tax. I applied for one, and just put "home- eBay" as my business name. I wasn't sure if that was the right thing to do, please help. Also, I'm not sure what I need/can report when I file taxes. Hope this makes sense. Thanks

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Mark Taylor

Certified Public Accountant

Masters

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I live in Kansas an am opening an internet sales company. I

I live in Kansas an am opening an internet sales company. I see that Texas has no corporate income taxes. Furthermore, the sales tax in some counties is lower than anything in Kansas. I have confirmed that Texas is a state that will allow you to use a PO box as a company's address.UPS stores allow you to open a PO box that has an address that looks just like a physical address.Can you think of any adverse taxation that may result if I base my LLC out of an address in Texas while living in Kansas?Thank you.

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Mark Taylor

Certified Public Accountant

Masters

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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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My question is pertaining to the sale of my business. I

My question is pertaining to the sale of my business. I operate a retail store structured as a single member LLC in Pennsylvania. For federal tax purposes it is a sole proprietorship, but in PA it is considered a corporation. We are about to execute a purchase agreement with the buyer, and need advice as to the most beneficial way to allocate the exchange of assets. Aside from the physical inventory, the purchase price constitutes store fixtures, display cases and computer equipment, as well as the business name, or good-will.All fixtures and other physical assets have been fully depreciated. The good-will does not appear on the books at all, so I assume the basis there would be zero.Does it make any difference how the proceeds of the sale are allocated (fixtures versus good-will) in terms of how it will be taxed? If so, how should the allocation go?There will be a non-compete clause, which if I am correct, is a key factor.

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

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Gift taxes questions - general overview - impact to the

Gift taxes questions- general overview- impact to the giver (reporting/paying gift tax)- impact to the recipient (reporting/paying gift tax)

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Mark Taylor

Certified Public Accountant

Masters

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346 satisfied customers
I am non Us citizen.I have an offshore company.I would like

Hi,I am non Us citizen.I have an offshore company.I would like to trade in Us stock market,trough Us online brokerage firms.My question is:I need to pay Tax in Us after capital gain or i need to pay in my country?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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What is the difference between prior depreciation and prior

What is the difference between prior depreciation and prior AMT depreciation for a vehicle when claiming business usage deductions and credits?

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

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I will be inheriting $147,000. What will be the tax rate on

I will be inheriting $147,000. What will be the tax rate on this amount in state of NY and I am 60 years old now.

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Robin D.

Vocational, Technical or Trade School

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20,604 satisfied customers
What are the taxes involved: a) if a US company has 1m in

what are the taxes involved:a) if a US company has 1m in profits in 2016 and before the end of the year the company spends 1m in the acquisition of shares of a foreign company.b) if a US company has 1m in profits in 2016 and before the end of the year the company spends 1m in the acquisition of copyrights from a foreign company.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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16,770 satisfied customers
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