Finance

Have finance questions? Ask a financial expert online.

Ask an Expert,
Get an Answer ASAP!

Related Finance Questions
I am incorporating my business & I'm filing form 2553 to
I am incorporating my business & I'm filing form 2553 to elect to be treated as an S corporation. I registered my business with the Secretary of State in Colorado on 09/30/2018. The corporation has no… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,675 satisfied customers
I have a client that has to fill out the 5471 and 8939 is
Hi, I have a client that has to fill out the 5471 and 8939 is there someone that could help. they sent in for their s corp but didn't realize they had to file these forms. its their first time filing … read more
taxmanrog
taxmanrog
Master's Degree
1,287 satisfied customers
I'm trying to start an s-corp. I filed my my articles of
hi. I'm trying to start an s-corp. I filed my my articles of incorporation with the secretary of state in california on aug 3, 2017. I know I need to now file form 2553 to elect to be s-corp, but i'm … read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,288 satisfied customers
Client is a contractor who incorporated last year. Came to
Client is a contractor who incorporated last year. Came to me 2 weeks ago, didn't even know if he was S or C. Ownership is 90/10 with another person. They did not pay themselves with payroll or salary… read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
871 satisfied customers
I am electing to have my business taxed as an S corp this
I am electing to have my business taxed as an S corp this year, I am a llc now, I want to know what I need to do to my accounting records now that I will be an s corp. I've already set myself up with … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,635 satisfied customers
I have read your replies about final returns and income
Hello Stephen, I have read your replies about final returns and income being reported years later. I have a similar situation. My father had an S corporation and I filed a final return for it for 2012… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,635 satisfied customers
I have a LLC partnership that I want to change to an S-corp.
I have a LLC partnership that I want to change to an S-corp. We have a negative basis in the partnership can I carry that until we sell the company or do I have to pick up the gain as soon as I change… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,401 satisfied customers
I have a a single member (I own) LLC and a single member (I
I have a a single member (I own) LLC and a single member (I own) S corp. Is there any way to retroactively sell the LLC to my S Corp so that at end of year I do not have to do a schedule C? What would… read more
Jonathan Tierney
Jonathan Tierney
MBA
295 satisfied customers
My wife and I started an S corp in 2015 focusing on
My wife and I started an S corp in 2015 focusing on consulting with non-profits on their advertising and marketing issues. We had $49,671 in gross revenue, and $55,612 in expenses before taking draws … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,635 satisfied customers
I use cash accounting method LLC but my client uses
I use cash accounting method for my LLC but my client uses accrual, therefore their 1099 does not coincide with my books. How do I handle this?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,401 satisfied customers
I have a client with an S Corp he started in 2016.. He wants
I have a client with an S Corp he started in 2016.. He wants his 2014 return amended as he knows he made some mistakes. I am doing 2015 as well. He never paid payroll taxes or had any sort of payroll … read more
BK-CPA
BK-CPA
Bachelor's Degree
919 satisfied customers
I have a client who has several LLCs, all partnerships. One
I have a client who has several LLCs, all partnerships. One is a bit unusual. For some reason--I think it was to shield a friend's asset during a tough finanical time-- they created an LLC that includ… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,635 satisfied customers
I am a physician living in VA. I travel every month weeks to
Hello, I am a physic***** *****ving in VA. I travel every month for 2 weeks to work in CT, where i rent an apt to stay there until my assignment is done. I recently realized that the hospital is withh… read more
Jason M. Tyra, CPA
Jason M. Tyra, CPA
Principal
Master's Degree
168 satisfied customers
I founded an S-Corp on 9/22/2015. I haven't yet filed
I founded an S-Corp on 9/22/2015. I haven't yet filed 2553. Can I still do that? Am I too late? What's the best course of action?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,675 satisfied customers
We're finishing up this year as an S-Corp. Now that my
We're finishing up this year as an S-Corp. Now that my husband is employed full-time, he will no longer draw a regular salary form his business income. He will maintain his office, equipment, software… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
16,114 satisfied customers
Lane and I hope all is well. I'm not sure what happened
Hi Lane and I hope all is well. I'm not sure what happened on Saturday but I ordered a phone call, paid $39 and never heard anything back from JustAnswer on how to proceed. We got everything figured o… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,401 satisfied customers
In the Fall of 2014, I mistakenly filed my Subchapter S
In the Fall of 2014, I mistakenly filed my Subchapter S corporation tax return as "final". Caught the mistake and after talking to the IRS, they had me write a letter of explanation along with a corre… read more
Jonathan Tierney
Jonathan Tierney
MBA
295 satisfied customers
My client has a SCorp profits of 25k. He took payroll of $60k...He
My client has a SCorp profits of 25k. He took payroll of $60k...He now wants to contribute to SEP IRA. Can he do that since the tax return for the corporation is already filed.… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
2,222 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,609 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Megan C

Megan C

Certified Public Accountant (CPA)

2,222 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

1,933 satisfied customers

More than 5000 online tutoring sessions.

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Eric

Eric

Financial Manager

559 satisfied customers

Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.

R. Klein, EA

R. Klein, EA

Accountant

480 satisfied customers

TurboTax Expert. QuickBooks Certified Pro Advisor

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

332 satisfied customers

NASD Licensed Rep, 1997-2001, Business Attorney

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x