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Recent Tax System questions

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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I've been running two small businesses (both LLC/S-Corp)

I've been running two small businesses (both LLC/S-Corp) in CA, USA for several years - one Internet/Media-related and the other selling electronic/gadget accessories thru' online channels (e.g. Amazon) and distributors around the world (with majority of the products manufactured in Guangzhou, China, which is next to Hong Kong). The two companies have a total of 1-2 independent contractors (1099's). I'm considering to relocate both companies to Hong Kong, where I have my roots (with HK Resident ID card). I plan to continue hiring independent contractors in CA, USA to support the two businesses in Hong Kong. I'm aware of FATCA reporting requirements.What are the proper procedures for small companies (like mine) to relocate to foreign countries??In particular, I'm only concerned about USA-side: For example, whether I need to (somehow) officially close down my businesses here in CA first and then reincorporate in Hong Kong (the latter is simple & straightforward and not an issue). If so, what are the “step-by-step” procedures, such as preparing & filing “closing” financial statements & specific tax forms (for Federal & State), etc. Hope my CPA who prepares the annual tax returns for both of my businesses would be able to do it.Are there other alternatives, such as setting up two companies in Hong Kong first, and then buy-out (or merge with) the two companies in CA, USA?? If so, what are the “step-by-step” procedure??

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Mark Taylor

Certified Public Accountant

Masters

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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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If you are a single male living in an apartment can you

If you are a single male living in an apartment can you claim 3 for dependents ( 1 single 1 head of household and 1 automatically ) or what do you claim

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

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Trying to understand something about the Green Party USA. What

Trying to understand something about the Green Party USA. What type of business is it. http://www.gp.org/about It says it is a federation of state parties. Contributions are not tax deductible so I assume it is not a non-profit. Therefore is it a for-profit or how where would I go to look up that info. Thank you.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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What are the capital gains tax of a real estate

What are the capital gains tax for sale of a real estate asset in Boston by a non-US citizen (Nonresident alien). Seller is not living in the US and does not have any other business or trade.Please confirm:- what's the specific short-term capital gains tax rate for a non-US citizen- what's the specific long-term capital gains tax rate for a non-US citizen

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Lev

Retired

Bachelor's Degree Equivalent

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I'm irst time here, is your help is free? JA:

Hello! I'm for the irst time here, is your help is free?JA: The Accountant's require payment for their services. It's way less expensive on JustAnswer than face-to-face would cost.Customer: sure, could you tell prices please?JA: The Accountant will know how to help.Customer: i had a foreign income as self-employed and I'd like to fill my tax return for prior yearsJA: Please tell me more, so we can help you best.Customer: I'm a green card holder and didn't know i need to fill tax return in the US while I've already paid taxes in my country (Russia), i work online (advertising field, have clients in rissia, but live in the US). I had income in half 2012, and then 2013,2014, never fiiled US tax return. So I'm afraid of penalties...JA: Is there anything else important you think the Accountant should know?Customer: i have two ways - to fill as non-resident alien + tax treaty OR like a resident, so gross income for 1040 - deduction for home officeJA: 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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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

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I jointly filed my tax return through someone, however, I'm

I jointly filed my tax return through someone, however, I'm not sure if he electronically filed my taxes. How can I check ifmy taxes were filed?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I just want to know whether my taxes were filedJA: Is there anything else important you think the Accountant should know?Customer: Nothing at all. I'm just worried I have been unable to check my status onlineJA: 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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Robin D.

Vocational, Technical or Trade School

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I am completing a return Schedule C client. He only

I am completing a return for a Schedule C client. He only made $1772.33 this year (he is an Independent Contractor). I am inputting his information into my tax system. It will allow me to file his CA state return but it will not allow me to file a Federal return. Does that mean he did not make enough to be able to file a Fed return electronically? This is the error messages I receive that I am not understanding:The net of Schedules C, E, or F is equivalent to the depreciation taken on the form. Is this correct? (W45)On the tax return (Form 1040, 1040A, or 1040EZ), none of the following amounts are significant: total income, adjusted gross income, tax, total credits, total payments. A federal e-file will not be created for this return. (W48)

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Angie

Bookkeeper

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