Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
I need your help in deciding which way client should go as
Hi I need your help in deciding which way client should go as when one of the shareholders is exiting entity: should they do a cross-sale or a redemption. Pros and cons please. There were total 4 shar… read more
Jonathan Tierney
Jonathan Tierney
MBA
295 satisfied customers
I am a sole stockholder of an S Corp. I am filing a final return
I am a sole stockholder of an S Corp. I am filing a final return for 2012. My stock basis is 129,000. AAA ending bal is 129,000. I know I have to zero out the AAA and the balance sheet. What happens t… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am closing my S corporation and filing my final return. I
I am closing my S corporation and filing my final return. I realize that all accounts should be zeroed out. But how to do that is my issue. I have retained earnings of $46,000, loan from shareholder o… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
my wife and I are the sole stockholders in a C corp. The C
my wife and I are the sole stockholders in a C corp. The C corp's only asset is an office building that we rent out. Can we dissolve the C corp without selling the building? Would dissolution be a tax… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
How are the conversion of business use depreciable assets to
How are the conversion of business use depreciable assets to personal use reported? Business closed, had some assets that were not fully depreciated that were converted to personal use and others that… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
i am dissolving a Florida based s corp. The requirements for
i am dissolving a Florida based s corp. The requirements for FL seem to be that I must pay a small fee to file the articles of dissolution, no problem. The only asset my corporation holds is a vehicle… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Louise, who died in January 2011, was survived by her husband,
Louise, who died in January 2011, was survived by her husband, Larry. Louise's gross estate was equal to $6,000,000 on the date of death. When Louise died, Louise and Larry owned an undeveloped parcel… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
A corporation distributes land and the related liability to
A corporation distributes land and the related liability to Meg, its sole shareholder. The land has an FMV of $60,000 and is subject to a liability of $70,000. The corporation has current and accumula… read more
Dave CPA
Dave CPA
Master's Degree
69 satisfied customers
2 member Sub s corp. in Iowa sub s consists only of farm land 1
2 member Sub s corp. in Iowa sub s consists only of farm land 1 member died in 2011 the estate of deceased member wants appreciated land to be distributed to the deceased members estate does IRS code … read more
William Ellis, CPA
William Ellis, CPA
Master's Degree
236 satisfied customers
c corp has $500,000 retained earnings. sole shareholder has
c corp has $500,000 retained earnings. sole shareholder has no basis. if sole shareholder dies and bequeaths his shares of stock to daughter and daughter then liquidates corp and receives the $500,000… read more
abci168
abci168
Principal
27 satisfied customers
I am involved in a Family corp that owns farm land. I wish
I am involved in a Family corp that owns farm land. I wish to get out of the corp. They have proposed trading my stock for land. How should this be structured?… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,512 satisfied customers
In 2009, pursuant to a plan of complete liquidation, Woods
In 2009, pursuant to a plan of complete liquidation, Woods Corp. distributed all of its property to its shareholders. Among the property distributed was cash of $200,000, and land that had been held a… read more
Bizhelp
Bizhelp
Certified Public Accountant (CPA)
Bachelor's Degree
638 satisfied customers
Mark receives a liquidating distribution from Arosa Corporation
Mark receives a liquidating distribution from Arosa Corporation as part of a redemption of all of its stock. Mark's basis for his Arosa stock is $10,000. In exchange for his stock, Mark receives prope… read more
Bizhelp
Bizhelp
Certified Public Accountant (CPA)
Bachelor's Degree
638 satisfied customers
I own a warehouse that is used in my business. My girl friend
I own a warehouse that is used in my business. My girl friend owns the land that the warehouse is on. I exchanged the warehouse for the land which I will hold for investment. The fair market value of … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I own a three-family house in NYC that is in an S Corporation.
I own a three-family house in NYC that is in an S Corporation. I want to put it in my personal name. I am t. sole owner. Do I have to pay transfer tax and capital gains tax. It would be for no conside… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,165 satisfied customers
Are distributions paid by a corporation in dissolution to its
Are distributions paid by a corporation in dissolution to its shareholders following satisfactionn of the corporation's creditors ordinary income aor a return of capital?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I need help with these Corporate Tax questions. i really ...
I need help with these Corporate Tax questions. i really need it as soon as possible. thank you. 1. Calculate the alternative minimum tax for a retail corporation whose tax return reflects the followi… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Larry is a shareholder in Target Corporation, which is part ...
Larry is a shareholder in Target Corporation, which is part of a tax-deferred Type A merger with Acquiring Corporation. As part of the merger, Larry exchanges all of his Target stock (FMV=$100,000; ta… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
60 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