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I have a business with a LLC. Do I still have to pay
Hello. I have a business with a LLC. Do I still have to pay business taxes every year? … read more
Barbara
Barbara
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Do all self-employed Philadephia residents have to pay both
do all self-employed Philadephia residents have to pay both the Business Income and Receipts Tax (BIRT) as well as the Net Profits Tax?… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
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CITY OF PHILADELPHIA BIRT TAX RETURN EZ - ON THE WORKSHEET
THIS IS REGARDING CITY OF PHILADELPHIA BIRT TAX RETURN EZ - ON THE WORKSHEET S, THEY HAVE THE WORDS STATUTORY NET INCOME DEDUCTION, ISD THAT FOR ALL FILERS TO USE. THE WORD STATUTORY IS WHAT CONCERNED… read more
Barbara
Barbara
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I HAVE A QUESTION ABOUT BUSINESS TAXES FOR THE CITY OF
I HAVE A QUESTION ABOUT BUSINESS TAXES FOR THE CITY OF PHILADELPHIA … read more
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I am working on my taxes. I sold a rental property and
I am working on my taxes. I sold a rental property and according to my tax software (TurboTax), I had ~$100k gain. How does this get considered? Is it weighed in with all my gains and losses across my… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
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I have a real estate tax question regarding a short sale of
Hello, I have a real estate tax question regarding a short sale of a rental property in Philadelphia, PA. I bought the 2 unit house for 109,900 and I would like to short sell for to the bank after fee… read more
Mark Taylor
Mark Taylor
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A doctor is a City of Philadelphia resident, however her
A doctor is a City of Philadelphia resident, however her practice is in Blue Bell, PA. Does she have to file the City BIRT & NPT business tax returns?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
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On 2015 BIRT Schedule How do I determine the amount in line
On 2015 BIRT Schedule B How do I determine the amount in line 1? … read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
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I have a small service business that does some work in the
I have a small service business that does some work in the city of Philadelphia and therefore I pay Philadelphia business tax (NPT and BIRT) and PA taxes on my business income. I live in NJ. Can I tak… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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Does a single member LLC which is based outside of
Does a single member LLC which is based outside of Philadelphia but does business in Philadelphia also have to file a City of Phila NPT (Net Profits Tax return) in addition to the BIRT return?… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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For Philadelphia 2013 BIRT, do we leave blank or zero in
For Philadelphia 2013 BIRT, do we leave blank or zero in Mandatory 2014 BIRT Estimated payment if the business terminated in 2013? thanks… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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A friend of mine lives in Philadelphia and works outside Philadelphia
A friend of mine lives in Philadelphia and works outside Philadelphia and received 2-3 1099-misc in 2013, what kind of form dose he file Phila city tax return? (individual & business)?… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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I currently reside outside of Philadelphia. I just bought a
I currently reside outside of Philadelphia. I just bought a rental property in Philadelphia. Am I still subject to the paying the Philadelphia wage tax even though I live outside of Philadelphia and d… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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Does BIRT or Net Profit need to be paid on rental income in
Could you tell me whether I have to pay BIRT and Net Profit on rental income in Philadelphia? I have only one house in Philadelphia for rental income. I am not sure whether I have to pay Net Profit Ta… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
Re: capital gain on sale of rental property held for 35 yrs.
Re: capital gain on sale of rental property held for 35 yrs. Is all depreciation recoptured at 25% rate even if the depreciated property (beds.tvs etc) have been replaced. It seems that on a long term… read more
Lev
Lev
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Bachelor's Degree Equivalent
30,424 satisfied customers
Hello gaain. I have these questions as I prepare the final
Hello gaain. I have these questions as I prepare the final 1041 after the property closed May 25 2010. Assume that I am the Executor. Sale of rental property was the only income for the estate in 2010… read more
Arthur Rubin
Arthur Rubin
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I have a rental property that I am thinking of selling. I ...
I have a rental property that I am thinking of selling. I am alos thinking of buying a business (no real estate). I will have a gain on the rental property sale. Can I avoid capital gains tax by inves… read more
Jon Andrews
Jon Andrews
CPA
1,498 satisfied customers
I have a rental duplex that has gained value and I want to ...
I have a rental duplex that has gained value and I want to sell it and use the money to purchase a "High & Dry" boat storage space for rental to other boat owners. The storage space is being sold as a… read more
Jon Andrews
Jon Andrews
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