Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
Should I amend s-corp previous years just to fix some
Should I amend s-corp previous years just to fix some numbers on the balance sheet on 1120s? Cleaning up the books and there's stuff like a nonrecourse loan mistakenly listed as a loan from shareholde… read more
PDtax
PDtax
Certified Public Accountant (CPA)
Master's Degree
5,189 satisfied customers
Do I enter subcontractor services under Other deductions or
Do I enter subcontractor services under Other deductions or COGS on 1120S? … read more
Tax.appeal.168
Tax.appeal.168
Principal
8,674 satisfied customers
My original form 1065 for my partnership had a balanced
My original form 1065 for my partnership had a balanced balance sheet per schedule L and schedule M-2. However, in going back to do an amended return, including adding personal use of product on line … read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
464 satisfied customers
I buy items for resale on Ebay. Some of these items I buy
I buy items for resale on Ebay. Some of these items I buy are sometimes simply too damaged and beyond repair and are simply losses (I have them on a shelf and can't even be sold or used for parts), in… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
I'm taking over a s-corp business and have inventory related
I'm taking over a s-corp business and have inventory related concerns:- After I take it over, I am going to be adding inventory that I already own to it. I can add this inventory to the equity side of… read more
taxmanrog
taxmanrog
Certified Public Accountant (CPA)
1,481 satisfied customers
Question about form 4797 I'm dissolving my corporation and
Question about form 4797I'm dissolving my corporation and have the following items that have been disposed of for no sale value as I live too far away from the old business location to deal with it. I… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
I'm working with a corporation that incorrectly recorded
I'm working with a corporation that incorrectly recorded installment sales on cars they sold for many years. They've been providing financing to customers and were booking sales based on cash received… read more
PDtax
PDtax
Certified Public Accountant (CPA)
Master's Degree
5,189 satisfied customers
COGS per books not matching COGS computed in Schedule 1125-A
COGS per books not matching COGS computed in Schedule 1125-A (1120). Wanted to know the best way to handle the variance in the books. Or this variance can be reported in Schedule M-1? and if so, what … read more
Jonathan Tierney
Jonathan Tierney
MBA
664 satisfied customers
I have started a corporation (S Corp) with the intention of
I have started a corporation (S Corp) with the intention of buying, fixing and selling the property. How can I reported the IRS?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
I am trying to determine why 1125-A method of COGS in Turbotax
I am trying to determine why 1125-A method of COGS in Turbotax is higher than my book value COGS… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I use Quick Books 2013 - We make wine then we sell the wine
I use Quick Books 2013 - We make wine then we sell the wine we make. I enter my expenses : grapes bottles labels labor to bottle the wine These all go into quickbooks as an expense. I know my price pe… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
4,670 satisfied customers
Hi. I am filling out corporate tax form 1120 - my company is
Hi. I am filling out corporate tax form 1120 - my company is a small ad agency where the majority of our expenses is purchasing advertising for our clients. Would that be considered a cost of goods so… read more
CFEPro789
CFEPro789
Fraud Analyst
Master's Degree
1,046 satisfied customers
Hello! I have a Texas LLC ("LLC") which files a Form 1120S
Hello! I have a Texas LLC ("LLC") which files a Form 1120S which includes Cost of Goods Sold. The LLC is in the Commercial Buildings and Entertainment Venues Janatorial Services including switching ou… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
I have an S corp for which I must file a 2010 and 2011 return
I have an S corp for which I must file a 2010 and 2011 return TODAY. I am using quickbooks for my accounting software and TaxAct for my tax prep software. The problem I am having is that my P&L is sho… read more
Dmastcpa
Dmastcpa
Partner
Master's Degree
36 satisfied customers
My Net Income in Quickbooks P&L and my Tax Form Net Income
My Net Income in Quickbooks P&L and my Tax Form Net Income never match. QB uses it's COGS calcs and I use Begin Inv + Purchase - Used - End Inv method in my tax form. When I get to Balance sheet recon… read more
Dave CPA
Dave CPA
Master's Degree
882 satisfied customers
I am working on Fed Taxes for an S corp. I used Quickbooks
I am working on Fed Taxes for an S corp. I used Quickbooks Pro for my accounting software and TurboTax for tax filings. In QUICKBOOKS, my profit and loss statement indicates a $39.00 profit for the ye… read more
PDtax
PDtax
Certified Public Accountant (CPA)
Master's Degree
5,189 satisfied customers
Small business, California LLC How do i properly account for
Small business, California LLC: How do i properly account for my investment of $$$ to purchase a company comprised partly of inventory and mostly of a website and customer list+"goodwill", on my tax r… read more
Jon Andrews
Jon Andrews
CPA
1,498 satisfied customers
I live and work and the state of New Mexico. I am a dentist
I live and work and the state of New Mexico. I am a dentist working as an employee for a corporation. My question is the following: I get paid on the 1st and the 15th of every month. When I received m… read more
Karen CPA
Karen CPA
Bachelor's Degree
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