Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
In tax year 2012 when making an irc sec 1377 a 2 election
in tax year 2012 when making an irc sec 1377 a 2 election involving an s corporation with 2 share holders how does this work logistically on the 1120s? A)will there be 2 1120s filed? 1 for the time pe… read more
taxmanrog
taxmanrog
Master's Degree
1,365 satisfied customers
I have an S-Corporation. The S-corp itself owns 80% of a
Hi. I have an S-Corporation. The S-corp itself owns 80% of a foreign partnership. How do I report that in my 1120S. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,828 satisfied customers
How do you change ownership for an LLC that is taxed as an
How do you change ownership for an LLC that is taxed as an S-Corp? Do you just change the operating agreement? How does this effect the IRS taxes?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,472 satisfied customers
For the personal info on top of page 1 of IT360, in the
For the personal info on top of page 1 of IT360, in the beginning of the form, how can I select a "New York county" for "Mailing address" when I only temporarily lived in NYC for 10 weeks and are now … read more
PDtax
PDtax
Owner
Master's Degree
4,310 satisfied customers
On 3/31/16 An S corp had shares purchased by another Sub S,
On 3/31/16 An S corp had shares purchased by another Sub S, thus terminating the Sub S status. As of 3/31/16 we should file a form 1120S and check the terminated box? Then file a 1065 for 4/1/16-12/31… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
A dental practice which is an S Corp sells its practice
A dental practice which is an S Corp sells its practice assets for 1,000,000. The Corporation has one shareholder who is a well respected dentist in the area. The asset allocation to be reported on Fo… read more
PDtax
PDtax
Owner
Master's Degree
4,310 satisfied customers
Bean counters! I'm self-preparing my 2014 1102S (six month
Hi all bean counters! I'm self-preparing my 2014 1102S (six month extension filed in March). We moved our business from VA to IL in mid-august and re-incorporated in IL Aug 18th. So, I have the Federa… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,629 satisfied customers
I have a NYC S-Corp that owns two rental properties. One was
I have a NYC S-Corp that owns two rental properties. One was sold at a huge capital gain and several hundred thousand dollars were paid to NYC for corporation tax. The rental activities generate a los… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,828 satisfied customers
If i already file to treat my C corp as an S corp do I have
If i already file to treat my C corp as an S corp do I have to file for that every year? Or to be treated as an S corporation is a one time filling?… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
I am planning to set up a company that sells mobile apps. I
I am planning to set up a company that sells mobile apps. I currently reside in California, and want to establish a Nevada or Delaware LLC for the better tax base. The software will be sold nationwide… read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,472 satisfied customers
Are cash contributions to S-corporation MUST be in proportion
Are cash contributions to S-corporation MUST be in proportion to the ownership percentage between 2 shareholders? How it will affect taxes? What about owner distributions - they also must be in propor… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,629 satisfied customers
I would like to check about the tax implication for the following
I would like to check about the tax implication for the following situation: Sale of an apartment based in NYC which is held by a BVI company. The shares of the BVI company where inherited by a Europe… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
I formed a new S-Corp in February 2010. I was the sole stockholder
I formed a new S-Corp in February 2010. I was the sole stockholder and it was never a C-corp. In 2012, I sold 25% of the stock to an individual. In 2013, the same individual wants to purchase another … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,629 satisfied customers
I have a client that owned an S corp 100%in 2011 . She took
I have a client that owned an S corp 100%in 2011 . She took $2,000.00 in salary reported on a W-2. She now wishes to have the corporation tranferred to another person. Can she do this and file the S c… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,104 satisfied customers
There is a 3 person S-Corp. 2 of the shareholders are buying
There is a 3 person S-Corp. 2 of the shareholders are buying out the third. How do I report the buy back of the stock on the 1120S?… read more
winktax
winktax
Enrolled Agent
Master's Degree
425 satisfied customers
I just recently found my return that I thought I mailed out.
I just recently found my return that I thought I mailed out. We are a llc and the first year we filled out 1120s and 2553 form to elect for S Corp. Now irs says because they never recieved our origina… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
Hi There is S-Corp there I own 100% shares. Also Im the
Hi There is S-Corp there I own 100% shares. Also I'm the officer/single employee/president of it. I paid health insurance to myself through S-corp account. Already filled (and accepted by IRS) Form 11… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
I probably need an accountant or tax expert, but Ill try.
I probably need an accountant or tax expert, but I'll try. I opened a fast-food restaurant 4 months ago as a corporation. I put all the money in to the corporation. It paid some of the bills and I pai… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,828 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