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I am wondering if something is pending from the IRS. My

I am wondering if something is pending from the IRS. My transcripts show file processed on feb 13, 2017( was jan 17 but had to wait feb 15). Then they pre dated code 570 with a date of 3-6-17 reason of additional account action pending. It has been this way for a few days. My mail gets stolen often as my paycheck just did and i cant get ahold of the IRS. So i was wondering if i should be ready for questioning( which is fine)JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: Not that i can think of. The IRS has not amended anything on the transcript at all.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,412 satisfied customers
I have an SCorp. The building we own is also incorporated as

I have an SCorp. The building we own is also incorporated as an LLC. My question is that I have taken money out of the SCorp to fund the LLC to pay for expenses. Should I record these transactions as distributions from the SCorp and then on the LLC side, record that as contributed capital?

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Mark D

Master's Degree

1,038 satisfied customers
If a new U.S. Company is being formed primarily from Isreali

If a new U.S. Company is being formed primarily from Isreali investors, what type of entity should be formed to minimize withholding on distributions of income/dividends back to Isreal?

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Mark D

Master's Degree

1,038 satisfied customers
I got a question about quickbooks, so in my quickbooks i

hey i got a question about quickbooksJA: The Financial Software Technician will know how to help. Please tell me more, so we can help you best.Customer: so in my quickbooks i have thousands of invoices i need to printJA: Is there anything else the Financial Software Technician should be aware of?Customer: no just quickbooks 2017

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Mark D

Master's Degree

1,038 satisfied customers
If i give my vendor a tax exemption certificate i know that

If i give my vendor a tax exemption certificate i know that i am responsible for paying the taxes on my side. Does my NM state tax office or IRS know the exact amount of taxes that were withheld?Let's say i purchased materials from my supplier for $1,000.00 dollars. Our tax percentage is 7.1875%. So total would be 1,071.88 with taxes. I then give him a tax exemption certificate which brings my total to an even 1,000.00. Lets say this is my only transaction all year long. Come tax season, will the irs or nm state taxes know that about the $71.88 taxes that was withheld? Hope this makes sense. Thank you!

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Megan C

Master's Degree

30,024 satisfied customers
Tax question. I am 57 and my wife is 48. My wife and I each

Tax question. I am 57 and my wife is 48. My wife and I each have a Roth and a regular IRA. The Roth was funded 100% with after tax money. The regular IRA with pre-tax money or transferred 401-k funds. For the first time, I noticed a gain-loss tax form for each from my brokerage company. Is this something I need to do my taxes? Would I owe any taxes now? It just seemed odd to me as I have never reported any gains or losses for either of these accounts. Can you help me understand the tax purpose of the gain loss tax forms?

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39,066 satisfied customers
I am hoping so. I received a 1999-misc a week ago. it has my

I am hoping so. I received a 1999-misc a week ago. it has my name and SS number on it with the amount of 30K!!! PLEASE!! I did not get this. HOw can this happen and what can I do. it says it was reported to the IRS.JA: What state are you in? It matters because laws vary by location. Has anything been filed or reported?Customer: MichiganJA: Anything else you want the lawyer to know before I connect you?Customer: thats it for now. I am concerned because it is so close to filing taxes.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,412 satisfied customers
I have a GAAP question and was told that "just answer" could

I have a GAAP question and was told that "just answer" could provide an answer but I'm not sure who to address the question, so I selected Tax Professional. If this is incorrect please advise to whom I address the question.I am preparing a reviewed F/S for Company A, an LLC, owned 51% by member 1 and 49% by member 2. Also, Company A is a "minority owned" business which comes with various benefits (member 1 is an African American).Member 2 also owns Company B 100% (a single member).Am I required to consolidate the two companies?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,412 satisfied customers
I won around $300,000.00 from online gambling, of course

I won around $300,000.00 from online gambling, of course which is not legal in the US. The establishment pays by wiring funds once a week, $5,000.00 at a time. I have many many questions as to how to go about this but primarily...will this raise a red flag and get government agencies on my tail due to suddenly having account activity that is a flag for money laundering? Also, I want to do this as legally as possible and fully intend on paying taxes, just want to get to that point and not have my accounts frozen or funds seized due to it being "dirty money."JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: There are a lot of bits and pieces that may be helpful but pretty much the main details i had provided

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39,066 satisfied customers
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