Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
Curious to learn if my overall total tax burden changes if I
Curious to learn if my overall total tax burden changes if I were to have my income divided between salary and supplemental, or 100% salary. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
14,978 satisfied customers
How to complete Form 1120S regarding personal loan (after
How to complete Form 1120S regarding personal loan (after tax dollars) to S Corp by 100% shareholder. S Corp repaid a portion of the loan in 2016 with revenue proceeds. Specifics: • 100% shareholder h… read more
PDtax
PDtax
Certified Public Accountant (CPA)
5,185 satisfied customers
I have an S corp with a defined benefit retirement plan --
I have an S corp with a defined benefit retirement plan -- single person for both … read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,480 satisfied customers
I have a bit of a complicated situation. I opened an s corp
I have a bit of a complicated situation. I opened an s corp in 2012 for a service business (realtor) and earned appx $250k for 2012/2013. . The $250k has stayed in my business bank account and I have … read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,480 satisfied customers
There, My ex-wife and I are 50/50 owners of a CA c-corp
Hi there, My ex-wife and I are 50/50 owners of a CA c-corp that we used for many years to bill clients for consulting services. She quit in 2011. I was awarded the corp. Our final judgment says that s… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I was LLC member, at 2012, 2013 I received K-1 indicated that
I was LLC member, at 2012, 2013 I received K-1 indicated that I had net rental income, but I did not receive any distributions; on 10/7/14, I sold my partnership interest to another member who owns mo… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
Im getting hit with Medicare MAGI surcharges for 2014 (based
I'm getting hit with Medicare MAGI surcharges for 2014 (based on 2012) and may well get hit for 2015 (for 2013 return in process). In the past four years I've had large NOLs as well as Investment Inte… read more
PDtax
PDtax
Certified Public Accountant (CPA)
5,185 satisfied customers
I received stock in an S corp for work time put in over 15
I received stock in an S corp for work time put in over 15 years and paid nothing for it. I am dividing the income by 4 years and putting the rest to a loan to the S corp (removing 1/4 each year as in… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I have a Single Member LLC that I started in 2008. It grosses
I have a Single Member LLC that I started in 2008. It grosses about $100K a year with a net profit of about $35K. I will be getting a new client, and next year I am projecting my gross to be about $14… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,480 satisfied customers
Hi Lev...its been awhile since we talked about SE401K...back
Hi Lev...it's been awhile since we talked about SE401K...back w a few more wrap-up questions... We haven't established SE 401K yet bec our CPA has said: no hurry...can keep my Gal's annual income 18K … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
Hi, I am in California. March 2012 - - My S-Corp incorporated
Hi, I am in California. March 2012 - - My S-Corp incorporated (as a Pass Through entity) (Single owned by my self). - I gave a loan of $10,000 to the S-Corp for initial expenses. Mar 2012 to Dec 2012 … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,056 satisfied customers
year end wire transfer from US cash basis C-Corp to UK based
year end wire transfer from US cash basis C-Corp to UK based cash basis LTD company. If we give irrevocable instructions to pay an invoice on 12/31/12 for value next day, and the bank messes up and do… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I have owned a c corp (sole owner) for about 6 years, providing
I have owned a c corp (sole owner) for about 6 years, providing security/administrative services. I have taken a minimal salary the past few years in order to grow my business, cover payroll, etc. Aft… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,056 satisfied customers
I am a sole owner of a S Corp. For 2012, there was income and
I am a sole owner of a S Corp. For 2012, there was income and I want to max out the 401k contribution. The CPA is asking me for "'a summary plan document' that summarizes what the employee is entitled… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Hi. I am a small buisness owner, I own 100% of a C Corp and
Hi. I am a small buisness owner, I own 100% of a C Corp and an LLC in florida- both separate tax IDs. The C-corp I do not want to be changed because of its seller of travel license (would have to reap… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I hope this is an easy question. I am a self employed Engineer.
I hope this is an easy question. I am a self employed Engineer. (Consultant). In approx 2009 I did a lot of workj for a large company that I invoiced for $X. the company declared Chapter 11 prior to p… read more
William Ellis, CPA
William Ellis, CPA
Master's Degree
232 satisfied customers
I currently have an LLC with a 50/50 partner. We are considering
I currently have an LLC with a 50/50 partner. We are considering shifting to an S-Corp because our gross revenues have passed a threshold that it makes sense to have an LLC (we are in the state of Cal… read more
socrateaser
socrateaser
43,142 satisfied customers
I own a Nevada S professional corporation that employs me ...
I own a Nevada S professional corporation that employs me to see patients in a California jail. The corporation expects to collect around $400,000 in 2007. To minimize taxes, am I better off with a sm… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 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

4,512 satisfied customers

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

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

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

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

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

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 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