Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
I am amending my client's 2016 1120S to include $3,850 as a
Second opinion] Hi, I am amending my client's 2016 1120S to include $3,850 as a SEP-IRA contribution on Line 17. My question is how do I adjust the balance sheet?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
S-Corp/ SEP/ Retained Earnings I am a small S-Corp with only
S-Corp/ SEP/ Retained EarningsI am a small S-Corp with only myself as an employeeIn early April, I made a SEP payment from the Corporation to my SEP account for 2017. The Contribution on my Turbo Tax … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,440 satisfied customers
About the VC LP fund and the GP LLC entity: I'm one of the
About the VC LP fund and the GP LLC entity: I'm one of the GPs and will make a capital contribution to the VC fund. Should I make the contribution directly into the fund using my personal name or shou… read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
2,286 satisfied customers
I'm setting up a small VC fund. My lawyer advised 1) I set
I'm setting up a small VC fund. My lawyer advised 1) I set up the VC fund as a limited partnership (LP); 2) set up an LLC for the GPs (me and my partner) and this LLC serves as the GP for the fund to … read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
2,286 satisfied customers
Is this the only way? I just applied for a Sigle member
Rogerhttps://www.mysolo401k.net/the-process-of-investing-a-solo-401k-plan-in-a-single-member-llc/Is this the only way? I just applied for a Sigle member PLLC, should I try to open a solo 401K tonight … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,440 satisfied customers
I have just started renting out an apartment that I own. And
hi there... i have just started renting out an apartment that I own. And would like to set up guarantee payments for the revenues so that I can contribute to a SEP-IRA. This will make the business a c… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,094 satisfied customers
I have a high income W-2 where I typically max out my 401k
I have a high income W-2 where I typically max out my 401k contribution. This year I'm starting a consulting business on a 1099. Can I setup a Solo 401k in addition to my W-2 401k? If so, can I contri… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
LLC- Member Managed- 2 owners. How should we be paying
LLC- Member Managed- 2 owners. How should we be paying ourselves? Currently we have been using owner draws. But, that does not reflect on our profit and loss sheet. Should be being using guaranteed pa… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,094 satisfied customers
I, as an employer, have been contributing to two employees
I, as an employer, have been contributing to two employees IRA accounts (quarterly) in addition to their salary. I have been reporting their salary through my payroll software and sending them paystub… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
I own an accounting business which is set up as an S corp,
I own an accounting business which is set up as an S corp, and pay myself W-2 wages from the business. My husband Josh is an ER PA and started a new job last year at a hospital where they pay provider… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
I was employee 6 months of this year and contributed
i was employee for first 6 months of this year and contributed $9k to my 401k, I will be independent contractor for rest of year , can I start sep IRA and how much can I contribute to it this year and… read more
Anne
Anne
Master Tax Preparer
3,422 satisfied customers
How can I maximize tax savings for 2013 . Husband pays into
How can I maximize tax savings for 2013 . Husband pays into 401K I don't qualify for 401 K so I will contribute to Traditional IRA account for the year . What else can we do to lower tax liability at … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
Im back! The partnership has $930 in NI for 2013 so Im thinking
I'm back! The partnership has $930 in NI for 2013 so I'm thinking there is no need for GPs.… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
I have a question about taxes as the pertain to a 2 person
I have a question about taxes as the pertain to a 2 person LLC. The question pertains to comissions, draws and loan repayment but only as they relate to an owner. Okay here is more detail. A magazone … read more
Jax Tax
Jax Tax
Senior Tax Attorney
Master's Degree
924 satisfied customers
This is a confusing situation and Im trying to get a firm
This is a confusing situation and I'm trying to get a firm response. This is regarding my company, an LLC that files as an S-Corp where I am the 100% owner and only employee. In 2007, my company made … read more
Bill
Bill
Master's Degree
2,074 satisfied customers
Im a full time Manager of an LLC. I invested lots of cash
I'm a full time Manager of an LLC. I invested lots of cash early on. CPA said I should be paid via "Guaranteed Payments" (GP) not payroll which I have done. The LLC then took in $ from outside investo… read more
RD
RD
Self Employed
Master's Degree
5,572 satisfied customers
We have an LLC, taxed as a partnership, with 3 individual members
We have an LLC, taxed as a partnership, with 3 individual members and one tax exempt org. member. The 3 individual members provide services/expertise to the LLC that result in the income the LLC earns… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
LLC has employees and has a Simple Retirement plan for ...
LLC has employees and has a Simple Retirement plan for them. Managing member does not pay himself a salary, but takes draws and is allocated income based on percentage ownership. Can the managing memb… 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