Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
I own a retail women's clothing store that is ran as an
I own a retail women's clothing store that is ran as an S-Corporation. I formed an LLC and bought a building that I ended up renting to my clothing store. The S-Corp and LLC are both me. This is my qu… read more
Jeffrey Horning
Jeffrey Horning
Senior Information Technology Auditor
Master of Business Administration (MBA)
129 satisfied customers
Small business owner, and have a few questions regarding LLC
Small business owner, and have a few questions regarding LLC and electing s-corp status … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,937 satisfied customers
For the previous situation if i instead chose to be taxed as
For the previous situation if i instead chose to be taxed as a corporation would that be better?… read more
Carter McBride
Carter McBride
LLM
3,110 satisfied customers
Question regarding conversion of a single member LLC to an S
Question regarding conversion of a single member LLC to an S Corp in Florida... … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,937 satisfied customers
S corp has one shareholder (wife) and I did not pay her
S corp has one shareholder (wife) and I did not pay her salary in 2018? What can I do? Can I remove her from the corp?… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
823 satisfied customers
I have an LLC now and pays a self employment tax. If I
I have an LLC now and pays a self employment tax. If I converted to S Corp., do I still have to pay self-employment tax?… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,937 satisfied customers
I have a full time job that pays the employment taxes. I
I have a full time job that pays the employment taxes. I also have a LLC S Corp and make some profit there. Do I need to pay self employment taxes on my salary from the LLC S corp as well?… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
823 satisfied customers
I own (100% share holder) a small business, S Corp. My wife
I own (100% share holder) a small business, S Corp. My wife is a teaching assistant in the City School system. I pay myself a salary (W2 $62,565.00), my wife's W2 is $24,111.00 (combined $85,676, marr… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
My name is ***** ***** and my question is regarding S
Customer: Hi, my name is ***** ***** and my question is regarding S Corporation owner salary. If I am the only member of an S Corporation, can I issue a 1099 myself or do I need a W2? … read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
I have a quick question -Corporation. Is it mandatory S-Corp
I have a quick question for S-Corporation. Is it mandatory for an S-Corp to pay W2 to the owner (when there are no other employees?) In other word, I have an S-Corp and I am the owner.... What will be… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
S corporation vs C corporation We are an S corp now that is
S corporation vs C corporation We are an S corp now that is consistently showing a profit. Was wondering if it is time to switch to a C corp?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,415 satisfied customers
Question with regards XXXXX XXXXX liability for shareholders in
Question with regards XXXXX XXXXX liability for shareholders in an S-Corp. If an active shareholder receives a salary, both the business and the employee are subject to employment taxes. If the shareh… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
This past year, instead of paying myself and taking distributions
This past year, instead of paying myself and taking distributions of all the revenue from my S corp, I just left the majority of it in the bank, thinking I'd open an investment account in the name of … read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
My business is structured as an LLC and S-Corp. I am the sole
My business is structured as an LLC and S-Corp. I am the sole member. My current accountant said that I can pay myself either through wages (payroll through the business) & owner draws (simply withdra… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
I have an S-Corp created in NV and also licensed to do business
I have an S-Corp created in NV and also licensed to do business in IL. In IL the corporate/business tax rate is 9.5%, and the "personal" tax rate 5%. Because my S-Corp is a "pass thru" entity, does th… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
I have extended my 1120S - an am preparing 1040, and just realized
I have extended my 1120S - an am preparing 1040, and just realized that I had not paid salary to officer(myself) who is also the sole shareholder. The LLC was formed in Oct 26 2011, so was in operatio… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I have a s-corp and I am the sole owner/director/own 100% shares.
I have a s-corp and I am the sole owner/director/own 100% shares. I have a home office and commute to client site 5 days a week by train. Is the monthly train pass a tax deduction? Is mileage to the t… read more
PDtax
PDtax
Owner
Master's Degree
4,762 satisfied customers
I have an S-Corporation, I am the only one owner.. how can
I have an S-Corporation, I am the only one owner.. how can I qualify to get qualified dividends since I have only almost $8000 in payroll to myself and I notice that I have $35000 more of business inc… read more
CPAforHire
CPAforHire
Bachelor's Degree
73 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:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,937 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

261 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

17,888 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 satisfied customers

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

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< 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