Tax

Have a tax question? Ask a tax Expert

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

Related Tax Questions
A retail store building is in a capital lease arrangement
A retail store building is in a capital lease arrangement with a city in IL. The lease is treated as a capital lease and held by a partnership. The lease terminates April 2019. Management is contempla… read more
Dr. Fiona Chen
Dr. Fiona Chen
Certified Public Accountant (CPA)
Ph.D.
4,543 satisfied customers
Just Answer, I have a question concerning Sec 179 expenses
Hello Just Answer, I have a question concerning Sec 179 expenses and want to see if I have something right. I've got a tax client (husband and wife) who own an LLC with an S-Corp election. Can the S-C… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,418 satisfied customers
Background LLC—Owned the real estate and held a significant
Background LLC—Owned the real estate and held a significant portion of the debt to SBA and others. I was the sole member of the LLC S Corp-Operated the business and held some of the SBA debt (leasehol… read more
PDtax
PDtax
Owner
Master's Degree
4,797 satisfied customers
If a C-Corp rents a building from the sole shareholder but
If a C-Corp rents a building from the sole shareholder but can't pay the rent, is there an issue with recognizing the full amount of the rent per the lease as an expense on the C-Corp (and rental inco… read more
PDtax
PDtax
Owner
Master's Degree
4,797 satisfied customers
Registered company as LLC and elected as S corp purpose. Did
Registered company as LLC and elected as S corp for tax purpose. Did not issue stock. Spend 50,000 to purchase equipment. For tax return 1120S page 4 schedule L, Asset is 50,000. for the liability and… read more
BK-CPA
BK-CPA
Bachelor's Degree
919 satisfied customers
A S-Corp client of mine had s contract by the original owner
A S-Corp client of mine had his contract for deed for given by the original owner (actually 3rd owner) and "repurchased" the property (commercial rental) at a lower amount. The new amount is covered u… read more
PDtax
PDtax
Owner
Master's Degree
4,797 satisfied customers
How to change the books so it reflects client reimbursement
How to change the books so it reflects client reimbursement expense? 2 sets of books- 2 separate corporations (1 is parent). One set of books receives income then transfer some money over to other set… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
2,693 satisfied customers
I own an S Corp and want to purchase a vacation home. I have
I own an S Corp and want to purchase a vacation home. I have the cash to pay it outright but I need to know if that will be considered income for me or will it be a business expense.… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,673 satisfied customers
I have a client who has several S corporations. One corporation
I have a client who has several S corporations. One corporation rents from the other. The one renting the building paid for engineering fees to build a building the other corporation has on its books.… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,260 satisfied customers
The accounting books for an apartment complex were set up incorrectly. How
The accounting books for an apartment complex were set up incorrectly. How should "Concessions" be classified?… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
TAX CONSEQUENCES FOR CHANGING FROM S CORP TO C CORP WITH ONE
TAX CONSEQUENCES FOR CHANGING FROM S CORP TO C CORP WITH ONE SHAREHOLDER OWNING 100 PERCENT ALL ASSETS UTILIZING BONUS DEPRECIATION AND SHAREHOLDER HAVING 1.3 MILLION ON BOOKS AS NOTE TO HIM… read more
PDtax
PDtax
Owner
Master's Degree
4,797 satisfied customers
HAVE A TWO PARTY LLC, COMMERCIAL REAL ESTATE BUILDING. BUILDING
HAVE A TWO PARTY LLC, COMMERCIAL REAL ESTATE BUILDING. BUILDING HAS A LARGE NOTE RECEIVBLE FROM CORPORATION. CORP. IS PAYING BACK LOAN AT $10,000.00 PER MONTH PRINCIPAL. TWO SHAREHOLDERS WANT TO TAKE … read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
1. Shareholder in S Corp formed a C Corp for equipment leasing
1. Shareholder in S Corp formed a C Corp for equipment leasing purposes. Shareholder is sole shareholder in C Corp as well. The C Corp is on cash basis for tax purposes. S Corp is on accrual. A bank t… read more
DanielleCPA
DanielleCPA
Certified Public Accountant
Bachelor's Degree
567 satisfied customers
S Corp. 2 shareholders-no capital contribution. one shareholder-manager--signed
S Corp. 2 shareholders-no capital contribution. one shareholder-manager--signed employment contract with company, if total payroll expense exceeded certain % of sales, manager would reimburse company … read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I have picked up an S corporation client whose previous tax
I have picked up an S corporation client whose previous tax preparer made a major blunder! The building in which the corporate offices and shop are located in owned individually by two majority shareh… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,260 satisfied customers
Ok I have an nyc llc taxed as s corp with $550K in net income
Ok I have an nyc llc taxed as s corp with $550K in net income this year. we own many websites and monetize them. My accountant suggested I open a Nevada C-Corp and transfer assets and extra cash for s… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
What are the benefits of setting up a Real Estate Holding company
What are the benefits of setting up a Real Estate Holding company to purchase a building for my software company?… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
Client who has an S Corp has leased a 2005 Pickup, on which ...
Client who has an S Corp has leased a 2005 Pickup, on which he was paying notes, to a partnership, in which he is also a partner. The partnership is paying the notes on the pickup directly to the bank… read more
RD
RD
Self Employed
Master's Degree
1,129 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

4,937 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

261 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

17,888 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 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