Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
Two separate LLCs are going to buy out a Holding Company
Two separate LLCs are going to buy out a Holding Company (also an LLC) to acquire the deed and title to a golf course, 4 commercial properties, restaurant, golf cart barn, warehouse and undeveloped pa… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,307 satisfied customers
A client of mine has a Roth IRA form 990T. So he does not
A client of mine has a Roth IRA form 990T. So he does not get taxed but there is tax. Does anyone know on what line of form 990T would I deduct the tax amount?Prashant… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,611 satisfied customers
I have 3 promissory notes each backed by a Deed of Trust in
I have 3 promissory notes each backed by a Deed of Trust in the 2nd position on property that is now each a vacant lot. The notes were each financed with traditional IRA money. The developer has run o… read more
PDtax
PDtax
Owner
Master's Degree
4,307 satisfied customers
I'm pretty sure this is a stupid question, but nevertheless:
Hello,I'm pretty sure this is a stupid question, but nevertheless:As debt on a commercial real estate loan is paid down and thus debt is transferred into equity, Who becomes the owner of that equity? … read more
PDtax
PDtax
Owner
Master's Degree
4,307 satisfied customers
Equity Trust Company, sent a 1099 for Box 1 $61,700 and then
Equity Trust Company, sent a 1099 for Box 1 $61,700 and then a Corrected 1099 - same amount - but Box 2a as $61,700. This was a principal amount my husband put in a self directed IRA and removed quick… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,307 satisfied customers
My Self Directed IRA account custodian is in Utah, LLC in
My Self Directed IRA account custodian is in Utah, LLC in California, real estate investment in California and Texas. The custodian files form 5498 annually with IRS. There is no filing with the Calif… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,611 satisfied customers
When applying SMLLC that will be owned or held in a SDIRA
When applying for FEIN for a SMLLC that will be owned or held in a SDIRA with a custodian not the taxpayer and not a related party, and with an individual manager for the manager-run LLC (the manager … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,611 satisfied customers
I and spouse have the Roth IRA respectively with John
I and spouse have the Roth IRA respectively with ***** *****cock. We are planning to use portion of the amount to invest on real estate. We were told to open a check-book control LLC, but we need a cu… read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,457 satisfied customers
I understand that in a self-managed Roth IRA, you can invest
I understand that in a self-managed Roth IRA, you can invest in real estate via an LLC that holds the real estate? If this is correct, can the LLC be also owned/managed by the Roth account holder as a… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,611 satisfied customers
Can my Roth IRA own an IC-DISC that does business with my company?
Can my Roth IRA own an IC-DISC that does business with my company? The IC_DISC would be a C corp established in Nevada and would receive commissions and pay dividends to my California S corporation. T… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
I am planning to buy an apartment that I believe will be worth
I am planning to buy an apartment that I believe will be worth more in the future, therefore qualifying as an investment property with my IRA funds. I am merely trying to use my IRA funds to purchase … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,307 satisfied customers
I currently have too much single family residences (for rent
I currently have too much single family residences (for rent or sale) in my profit sharing plan's portfolio (> 50%). I am 65 years old and am still a working dentist, so, I intend to keep the profi… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
XXXXX XXXXX decided to open up a Roth IRA. He will invest
XXXXX XXXXX decided to open up a Roth IRA. He will invest $1,800 per year for the next 35 years. Deposits to the Roth IRA will be made via a $150 payroll deduction at the end of each month. Assume tha… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,307 satisfied customers
Hi,My self-directed Roth IRA is the sole member of an LLC
Hi, My self-directed Roth IRA is the sole member of an LLC I set up for the purpose of real estate investing. I am the manager of the LLC. I would like for my Roth IRA to also engage in "active busine… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,636 satisfied customers
If I receive checks on behalf of a company in my personal name,
If I receive checks on behalf of a company in my personal name, and the issuing entity reports those proceeds under my tax ID, how do I make sure that the income is not attached to my personal tax lia… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
My Roth IRA owns a startup service company with 1 employee,
My Roth IRA owns a startup service company with 1 employee, my sister. What income tax filings (besides her personal) have to be made.… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
I have a real estate situation where I and a partner own several
I have a real estate situation where I and a partner own several million dollars worth of commercial and industrial land in an LLC 50/50. I have an opportuntiy to build some new buildings for waiting … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,307 satisfied customers
If my LLC taxed as a Corporation bought raw land for ...
If my LLC taxed as a Corporation bought raw land for $22,000, and have made 0 improvements. We would like to sell it to another entity for $42,000. Do we have to hold it over 12 months to get the best… 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