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Recent Use Tax questions

Can I count the cost of sending money from my wife's

Can I count the cost of sending money from my wife's Peruvian business to the US as a fee to lower taxes?

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Dr. Fiona Chen

President

Ph.D.

536 satisfied customers
My wife's brother has yet to pay the property taxes on their

My wife's brother has yet to pay the Peruvian property taxes on their rental property for 2015, but, of course, our US tax deadline is looming. How does this work in terms of filing here in the US. Can I still include these taxes as a deduction off the rental income?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,646 satisfied customers
Double taxation Worked in US for 14 years - made a lot of

Double taxationWorked in US for 14 years - made a lot of money - a lot - didn't pay us taxes but rather Italian. - he is Italian.

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Mark Taylor

Certified Public Accountant

Masters

1,220 satisfied customers
First, we have used Turbo Tax to do our income tax returns

First, we have used Turbo Tax to do our income tax returns for last two years. For tax year 2015, we owed $6000 in taxes, which we paid when we filed our return electronically. But Turbo Tax said our estimated taxes due would be $1850 per quarter, instead of $1500.(which is $6000 divided by 4). I thought the estimated taxes were calculated on the amount due at the time of filing the return, which was $6000. Is this true?I am paying the $1500 amount, instead of the $1850, but not on the schedule exactly laid out by Turbo Tax, but by Jan 2016, the total amount (which will be $6000) of the estimated tax will be paid. Anyway, if I have not paid the estimated taxes exactly on time, will we get penalized when we file our 2016 tax return? If so, how much?

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,188 satisfied customers
My wife has rental income in Peru that is taxed in Peru at

My wife has rental income in Peru that is taxed in Peru at two levels: property tax and income tax. Can both be deducted for US tax purposes? Do I just add the two together?

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Mark Taylor

Certified Public Accountant

Masters

1,220 satisfied customers
Can we apply for tax ID for a dependents of a USA citizen

Hi,Can we apply for tax ID for a dependents of a USA citizen who lives overseas. The kids live with the taxpayer all year long but just not in the USA. The don't have social security numbers and the both spouses file separately.

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Robin D.

Vocational, Technical or Trade School

21,180 satisfied customers
I am a US citizen who lived in Japan for 15 years through

I am a US citizen who lived in Japan for 15 years through August 2014. I moved with the same company back to the United States in August 2014. My retirement plan that I accumulated during my time in Japan was consolidated into an account managed and housed by Fidelity in the UK. I have not been making contributions since that time, neither has my company - the amount simply rises and falls in step with my portfolio. I am nowthinking of taking some of the money out of that retirement account (again, it is overseas in the UK) and bringing it to the US to put towards a down payment on a house. I was wondering how much that money would be taxed in that instance.

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32 satisfied customers
I am a US citizen. I would like to know what inheritance tax

I am a US citizen. I would like to know what inheritance tax will be paid by my son who is a Danish citizen and my only inheritor.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,646 satisfied customers
I have some concerns about a LLC formed in DE with FL

Hi I have some concerns about a LLC formed in DE with FL mailing address as the business in online and remotely managed where should I pay sales taxes and apply for Sales permit?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,646 satisfied customers
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