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I have a rental property that we put into an LLC last year.
I have a rental property that we put into an LLC last year. The LLC holds the title of the property and my husband and I transferred our portions to our individual revocable trusts. Unfortunately, we … read more
Lev
Lev
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Bachelor's Degree Equivalent
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Just a basic income tax question: If I rent an apartment in
Just a basic income tax question: If I rent an apartment in New York to a landlord who resides in the UK and wire rent payments directly to a bank account in the UK, does that constitute tax evasion for the landlord and does it make me complicit if I initiate the wires each month? … read more
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Robin D.
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A foreign person has started a Texas LLC and has acquired
A foreign person has started a Texas LLC and has acquired real property inside the LLC to be rented, what tax forms would be completed for the LLC and the foreign owner.… read more
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My husband and I both worked in China in 2014 and we both
My husband and I both worked in China in 2014 and we both received housing allowance from our respective companies for our China rent. We file married, joint taxes. Can we claim both his allowance and… read more
Lev
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I manage and collect rent on a California rental property
I manage and collect rent on a California rental property for a resident of Korea. The owner is not a U.S. resident. Since I collect the rent, am I the withholding agent? If so must I give the foreign… read more
jgordosea
jgordosea
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My wife and I have owned 2 rental properties in Utah since
My wife and I have owned 2 rental properties in Utah since 2006 and filed the rental income information on those two properties each year on Form E of our 1040 return. In 2007 we formed a LC company. … read more
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We receiven a gift of $200,000 from a foreign parent, how is that reported on form 3520,it
We receiven a gift of $200,000 from a foreign parent, how is that reported on form 3520,it was a wire transfer to a share account I have with my wife in the US, do each of us need to divide the gift? … read more
Lev
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We've always filed our tax returns as "married file jointly".
We've always filed our tax returns as "married file jointly". This year we decide to file as "married file separately." If we both agree, can one of us take all the previous year's tax refund? Because… read more
Robin D.
Robin D.
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I have a client who just purchased a second home in France.
I have a client who just purchased a second home in France. They plan to live there for part of the year and in the US for part of the year. He is a FedEx pilot. He holds a bank account of $106,000 as… read more
Lev
Lev
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Hello, I am a US non-resident, owning a Delaware LLC and
Hello, I am a US non-resident, owning a Delaware LLC and I'm the single member of it. The company activity is based on online marketing/affiliation etc. and my company has its publishers and I pay the… read more
Lev
Lev
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As a US tax residence, I have some questions about foreign
As a US tax residence, I have some questions about foreign bank account, real estate and income: - If I have foreign bank accounts, in what situation do I need to report them? My understanding is that… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I would like to purchase rental property in Florida.
I would like to purchase rental property in Florida. I'm a Canadian/Brit living in Hong Kong. Can you tell me what tax implications I would be subject to? thank you… read more
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My sister and I own a condo together (50/50) in Mexico. Its
My sister and I own a condo together (50/50) in Mexico. It's a second home for both of us. We both use it for personal use but also rent it out. Every year we have a method that we use to determine wh… read more
ezcpa
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Our mom legally transfered the 30 acre farm to us 5 kids. So
Our mom legally transfered the 30 acre farm to us 5 kids. So the farm is in our names, there is some residual income $400/yr from the sale of hay. Do we have to report that to the IRS and if so what f… read more
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Long-term expatriate tax law query I am a US citizen, spouse
Long-term expatriate tax law query: I am a US citizen, spouse not, but has SS#, living abroad for most of my/our adult life, aside from graduate studies. I filed fed/state forms during graduate studie… read more
Lev
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On a 1099 Box 1, does this include management fees?
Question about 1099-Misc.BOX 1 (Rent). We are a property management company established this year and we are preparing the 1099 form for the home owners. Is the Box 1 Rent for the exact (net) amount (… read more
Merlo
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I have a tax question. 2 of my friends and I teach Spanish
I have a tax question. 2 of my friends and I teach Spanish on Saturdays at a church. We have 60 students and they pay $110 a month. We have a joint account at a bank and deposit all the checks from ou… read more
Lev
Lev
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Bachelor's Degree Equivalent
27,814 satisfied customers
My Friend and I started an antiques business whereas we rent
My Friend and I started an antiques business whereas we rent booth space in a building from a person and pay her 10% commission on anything we sell. As part of the rental agreement, we do not have to … read more
Lev
Lev
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Bachelor's Degree Equivalent
27,814 satisfied customers
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