Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
Was just looking for a reason for a late filing on a Form
Was just looking for a reason for a late filing on a Form 8832 . Is a late request due now for the 2018 tax year? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,664 satisfied customers
C corp elected to be S corp effective Jan 2017. How do I use
C corp elected to be S corp effective Jan 2017. How do I use prior years net operating losses on 1120s? My company incurred net operating loss in 2016 when it was C corp.… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
2,236 satisfied customers
A small C Corp wants to convert to a S Corp C corp when
A small C Corp wants to convert to a S Corp C corp when established shares 50% son and 50% father. Son has not been involved in the business … read more
PDtax
PDtax
Owner
Master's Degree
4,340 satisfied customers
I was prev. filing as an S-corp but in 2017 converted to an
I was prev. filing as an S-corp but in 2017 converted to an LLC how do i make the filing switch?The switch was made on a state level and so forth. What do i need to do to file now as an LLC filing as … read more
Tax.appeal.168
Tax.appeal.168
Tax Accountant
5,457 satisfied customers
This question is for Lane... I have an LLC in Texas and I'm
This question is for Lane... I have an LLC in Texas and I'm the only member. Right after forming the LLC (2015) we asked for and were classified a C Corp for Federal Income tax purposes. I have been t… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,799 satisfied customers
I am wondering. I want to start a Corp or S corp to avoid
I am wondering. I want to start a Corp or S corp to avoid the passthrough tax. I'd rather pay the double taxation. Which corperation type should I use? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Am I correct when completing federal tax returns for a C
Am I correct when completing federal tax returns for a C Corporation it is possible to request to switch it to a S Corporation for next year, if it is elected within two months and 15 days of the star… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,652 satisfied customers
There are many advantages and disadvantages to converting a
There are many advantages and disadvantages to converting a C-Corp to an S-Corp, but in a situation where an individual who owns a C-Corp with profits and subject to double taxation, it seems odd that… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,340 satisfied customers
IRS states to write a letter to revoke the S Corp. What we
IRS states to write a letter to revoke the S Corp. What we are trying to achieve is to keep the same Company but change the status. IRS states we did not have to us the same form to elect S Corp statu… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
What considerations need to be made to convert a c
What considerations need to be made to convert a c corporation into an s corporation. The C corporation has a single owner and is a convenient store that has land and a building. It has been operating… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,799 satisfied customers
How do I treat pre-conversion retained earnings in determining
How do I treat pre-conversion retained earnings in determining my s-corporation stock basis? We converted the company from a c-corp to an s-corp over ten years ago.… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,652 satisfied customers
Our company is currently organized as an LLC, but have elected
Our company is currently organized as an LLC, but have elected S-Corp status for tax purposes. We are in the midst of buying one of the unit holders of the company out. He has agreed to carry back a n… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,799 satisfied customers
I am requesting Steve Grizey, if available. I have a client
I am requesting Steve Grizey, if available. I have a client who requested/elected Sub S treatment of his single member LLC in 2012. Is there a way to de-request this election? I don't beleive it is in… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,652 satisfied customers
I have a C-Corp with significant losses. Can an S-Corp acquire
I have a C-Corp with significant losses. Can an S-Corp acquire my C-Corp and assume my losses for the combined/merged income?… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
Im the only shareholder in my 5 yr old C corp which now has
I'm the only shareholder in my 5 yr old C corp which now has accumulated some retained earnings held as C.D.s. What is the best way to convert to an S while minimizing any additional tax liability? I … read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
MY ACCOUNTANT HAS BEEN USING 1120 IN PLACE OF 1120S SINCE 2004. I
MY ACCOUNTANT HAS BEEN USING 1120 IN PLACE OF 1120S SINCE 2004. I WANTED TO BE 1120S ALL OF THEM. HOW TO CORRECT THIS WITH IRS?… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
How to write off intercompany loans on an S Corp level?
I own an S Corp. with a 12/31 year end. I also own a C Corp. with a 9/30 year end. I have an intercompany loan that has accumulated over the years in the amount of 300,000. (the C Corp. owes the S Cor… read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
I purchased 20% of a C corp for $275,000 in 1999. There is
I purchased 20% of a C corp for $275,000 in 1999. There is one other partner who owns the other 80%. I am currently employed by that corporation and get a salary of $75,000 annually plus bonus. Five y… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 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