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Recent Taxing Authorities questions

If I am living outside of the US more than 330 days, running

If I am living outside of the US more than 330 days, running an online dropshipping store through an LLC in WY, but I am 'oficially' still a resident of CA, do I need to1) register the WY LLC as an out of state business in CA and2) does my residency (even though I am not physically present) in CA constitute a nexus and thus3) do I need to collect sales tax in CA?

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Lev

Retired

Bachelor's Degree Equivalent

25,398 satisfied customers
Mother-in-law died 10/15. Her stock were divided 3 ways - my

Mother-in-law died 10/15. Her stock were divided 3 ways - my portion was transferred to my name then sold & i received a check - was told i would not pay taxes as it was an inheritance. I did not claim on my tax return. i just received a letter from IRS that i owe $3400 for tax due on that money? Is this correctJA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: It was a broker barter exchange transactions form mother to me...bottom of form 1099B has total 101,565.67 - the IRS letter says securities - $20,446

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,568 satisfied customers
How do I know if my efile went thru. nothing has been

how do I know if my efile went thru. nothing has been deducted from my bank and it continues to take me thru each step again.JA: The Financial Software Technician will know how to help. Please tell me more, so we can help you best.Customer: i filed Sunday and my paper said my amount would be deducted April 16. of course i waited but still not deductedJA: Is there anything else important you think the Financial Software Technician should know?Customer: when i go back on it says paper send instead of efile but i Sunday my print out says different

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Brian Michels

Partner

Bachelors of Business Administration

214 satisfied customers
I bought primary residence in 2006. Bought two adjacent

I bought primary residence in 2006. Bought two adjacent pieces of vacant land next to it in 2012. Sold all three to same buyer in 2016 on same date. Three deeds, three 1099s forms. Under Reg 1.121 I can include the gain from the vacant lots in my $500K homeowner exclusion. I don't know how to record on tax forms. Do I add up values from all three 1099s forms and make one entry?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: Not that I can think of.

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Lev

Retired

Bachelor's Degree Equivalent

25,398 satisfied customers
I have a Fire Sprinkler Installation business. I received an

I have a Fire Sprinkler Installation business.JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I received an assessment due to an error in tax payments to the Department of Revenue. They took money from our Business Bank Account. This amount totaled $28500.We paid this in full during 2016. Can I deduct the total from our Gross Business for the 2016?JA: Is there anything else the Accountant should be aware of?Customer: NO

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182 satisfied customers
California Corporate Tax 2011-14 subject to Levy in a few

California Corporate Tax 2011-14 subject to Levy in a few days. Filing 2011-12 today; losses in 2014-14, so there won't be tax due, but they won't know that until I file later this week. There won't be any funds in a corporate account to garnish, but are they able to take funds from a personal account that transfers funds into a corporate account? When I talk with them, they say they will go ahead and Levy the corp account; I don't want to ask about personal accounts

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Lev

Retired

Bachelor's Degree Equivalent

25,398 satisfied customers
Is a $1080. check I received from Tree Mortgage class action

Is a $1080. check I received from Green Tree Mortgage class action foreclosure suit- taxable. I didn't get a W2 or anything from them to file.?How much do I pay or where can I find out. Greentree hasn't written me back. Thanks.JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: no

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Robin D.

Vocational, Technical or Trade School

24,980 satisfied customers
My mother sold a house to my brother on a 30 year land

My mother sold a house to my brother on a 30 year land contract in Wisconsin, my brother has lived there for 6 years, the house is being sold so my brother can buy a different house and finance through a bank. There is going to be money made in the transaction, my question, is my mother going to pay capital gains on this sale, or is there going to be nothing paid because it was my brothers primary residence for 6 years ?JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: no

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182 satisfied customers
Lou My husband and I live in CA. We have 2 Rental properties

Hi LouMy husband and I live in CA. We have 2 Rental properties 1 in California and 1 in Texas.My husband accepted a seasonal job in NM from March till present. He is using Texas Rental Property as his residence.His W2 has NM. Does he need to file a part-year nonresident tax return as well as Part-year California?Should it be better if we file married separate.

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Lev

Retired

Bachelor's Degree Equivalent

25,398 satisfied customers
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