Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
I have a S Corp that is the the sole member of an LLC (no S
Hello, I have a S Corp that is the the sole member of an LLC (no S election). The LLC receives rental income. What is the best way to get the rental income from the LLC?… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,794 satisfied customers
When I include my investment land for business on schedule
When I include my investment land for business on schedule E, what do I put as Fair rental days? Since it is land, do I just put 0?… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,794 satisfied customers
What is the defintion of Fair Rental Days (on schedule E)?
What is the defintion of Fair Rental Days (on schedule E)? And can I include investment land on schedule E if it is owned by my rental property LLC?… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,794 satisfied customers
My business partner and I are forming 5 companies. We will
My business partner and I are forming 5 companies. We will be 50/50 owners of four of them and own 66% of the 5th (the remainder will be owned my another individual). All companies will be based in Wy… read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,000 satisfied customers
We own a Laudromat business It is in a LLC. Both names on of
We own a Laudromat business It is in a LLC. Both names on of myself and husband own. … read more
Lev
Lev
Tax Advisor
33,748 satisfied customers
That was fast, thank you. I started a LLC last year and need
That was fast, thank you. I started a LLC last year and need to know what tax form to use. My wife and I are the only members and we file a joint return. … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,512 satisfied customers
I currently own a truck, but am forming an llc, and the truck
I currently own a truck, but am forming an llc, and the truck will now be used for business purposes (maintaining rental properties). Can I sell my truck to my llc and therefore write off maintenance … read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
Taxation of the LLC Individual/Partnership: Not taxed as
Taxation of the LLC Individual/Partnership: Not taxed as a separate entity from owner(s). S-Corporation: Planning to elect an S-Corporation tax structure. Corporation: LLC is planning to elect a Corpo… read more
Lev
Lev
Tax Advisor
33,748 satisfied customers
Lev, Now I have a new question, very similar to what I asked
Lev, Now I have a new question, very similar to what I asked about me and the easement personally, but instead, this question is about an LLC. In addition to me receiving easement payments for propert… read more
Lev
Lev
Tax Advisor
33,748 satisfied customers
I transfer my rental property to a new LLC on 3/20/2012. How
I transfer my rental property to a new LLC on 3/20/2012. How should I report the Sch E income & expense, depreciation. How should I report the transfer in my personal return 1040? Should I report a sa… read more
PDtax
PDtax
Owner
Master's Degree
1 satisfied customers
Im a partner in a family LLC. The LLC owned a beach bungalow
I'm a partner in a family LLC. The LLC owned a beach bungalow in NJ that was flooded out as a result of Hurricaine Sandy. It was a total loss. Est value @ $400,000, mostly due to the land which we own… read more
fastfile
fastfile
Tax Advisor
Master's Degree
550 satisfied customers
I HAVE A SINGLE MEMBER LLC OWNED BY MY SELF DIRECTED IRA. THIS
I HAVE A SINGLE MEMBER LLC OWNED BY MY SELF DIRECTED IRA. THIS LLC HAS IT'S OWN TAX EIN NUMBER.... I( the IRA's LLC)OWN A RENTAL HOUSE AND RENTAL INCOME GOES INTO THE LLC. TO GET A DISTRIBUTION, MONEY… read more
Charles Greiner
Charles Greiner
Owner
Bachelor's Degree
2,436 satisfied customers
I have a 2 doctor LLC. They wish to go their separate ways.
I have a 2 doctor LLC. They wish to go their separate ways. What entity would you recommend. Any dissoution papers need to be filed with NYS?… read more
Wallstreet Esq.
Wallstreet Esq.
Tax Attorney
Doctoral Degree
586 satisfied customers
I have paid off investment R/E properties. Due to the market
I have paid off investment R/E properties. Due to the market they lost their value. I want to claim losses on my Tax Return by selling them. But at the same time I want to keep them. I have the S-Corp… read more
BK-CPA
BK-CPA
Bachelor's Degree
687 satisfied customers
Hi, My husband and I were advised to change title on our property
Hi, My husband and I were advised to change title on our property to a Single Member LLC and form an S corp for my real restate business (I'm a real estate agent). 1) Can you tell me the pros and cons… read more
Gerri A Harrison CFP EA
Gerri A Harrison CFP EA
Financial advisor/Tax preparer
Bachelor's Degree
86 satisfied customers
I am switching from being a company driver to an ...
I am switching from being a company driver to an independent contractor. I wont be an owner/operator, just a 1099 considered "employee". Do I need to create my own LLC or similar, or can i partner wit… read more
Lev
Lev
Tax Advisor
33,748 satisfied customers
I own a rental property that I am going to transfer deed ...
I own a rental property that I am going to transfer deed over to my LLC. The mortgage lien and responsibility will remain in my name. I want to know going forward if should write off mortgage interest… read more
The Geezer
The Geezer
Master's Degree
120 satisfied customers
I am a new develper. I bought an empty lot for $325,000 and ...
I am a new develper. I bought an empty lot for $325,000 and build a house on it. The construction cost is $675,000. I sold the property for $1,500,000. What is my capital gain Tax on this transaction.… 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