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I am filing taxes..part of the year as a sole proprieter and
hello i am filing taxes..part of the year as a sole proprieter and part of the year as an s corp this question is about my sole prop business..I have questions about net profit and taxes owed … read more
Carter McBride
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I have a prospective S-corporation tax client. they owned a
I have a prospective S-corporation tax client. they owned a salon through 2017 when the predecessor CPA filed their returns, They subsequently moved and are looking for a new CPA. On 1/25/18 they sold… read more
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I have a client that opened a SMLLC through Legal Zoom.
I have a client that opened a SMLLC through Legal Zoom. LegalZoom gave him an option to open it as a C Corp or an S Corp. (I didn't think he needed to do either with a SMLLC). LegalZoom also recommend… read more
James Daloisio
James Daloisio
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Doctoral Degree
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Thank You. I appreciate your help. In restarting my s-corp,
Thank You Barbara. I appreciate your help. In restarting my s-corp, I need to take care of a matter. I received a 2017 1099-K with EIN from my inactive S-corp, that I want to make active. So..., I wan… read more
Barbara
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I have an S-Corp that has late filing penalties. 2013 was
I have an S-Corp that has late filing penalties. 2013 was abated. I had auto accidents in 2015, which delayed 2014-2016. The late penalties are more than $7500., but the business has been physically c… read more
Angie
Angie
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I have a complicated case. I talked to my accountant, I
I talked to my accountant, I called the IRS, I have a 2nd opinon … read more
Barbara
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I need clarification on how the 2017 20% pass through
I need clarification on how the 2017 20% pass through deduction (Section 199A) works in relation to an S-Corp with 1 shareholder and no employees, with a total income of $170k (joint filing). Would th… read more
Barbara
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Changed from a sole proprietorship to an S Corp. All my
Changed from a sole proprietorship to an S Corp. All my taxable income is in the S-Corp #. However my largest deduction is my payroll which is still under the old EIN. I know to change it now, but for… read more
Tax.appeal.168
Tax.appeal.168
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My husband owns a plumbing company but gets paid as a w2
my husband owns a plumbing company but gets paid as a w2 employee. are there any business owner benefits we can take in our personal taxes … read more
Tax.appeal.168
Tax.appeal.168
Principal
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I have a mess of taxes this year, I think. #1 I am self
Thank you. I have a mess of taxes this year, I think. … read more
Barbara
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I am an insurance broker with 1099MISC commissions. M FL
I am an insurance broker with 1099MISC commissions. M FL s-corp was inactive in 2017 as I was told agents cannot shield personal liability by passing commissions thru S-Corp. My wife and I are sole em… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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This question is for Lane... I have an LLC in Texas and I'm
This question is for Lane... I have an LLC in Texas and I'm the only member. Right after forming the LLC (2015) we asked for and were classified a C Corp for Federal Income tax purposes. I have been t… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I have a C Corp and I own the sole owner. I am now preparing
I have a C Corp and I own the sole owner. I am now preparing my business and personal returns for 2016. I want to pay myself compensation on W-2 which I did not file with the IRS yet nor did I pay pay… read more
James Daloisio
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I was a sole prop in 2016 (tax year). Starting January 1,
I was a sole prop in 2016 (tax year). Starting January 1, 2017, I am the sole shareholder of an S-Corp. Since I'm no longer an employee, I'm wondering if they calculate late fees for not filing quarte… read more
Robin D.
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Background: In 2016, my business was an LLC (I paid myself
Background: In 2016, my business was an LLC (I paid myself with distributions). In 2017, I got a letter from the IRS that my 2553 form was accepted so the business will be treated like an s-corp (so n… read more
PDtax
PDtax
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Master's Degree
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I have an S Corp Technology and Business Consulting business. I am filing taxes fo
I have an S Corp for my Technology and Business Consulting business. I am filing taxes for last year, and am wondering what the difference/benefit is to using the business income versus income from S … read more
emc011075
emc011075
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I have a sole prop that I recently converted to an LLC. I
I have a sole prop that I recently converted to an LLC. I am considering establishing it as an s-corp entity for asset protection but there is certainly no risk in the near future. My first question i… read more
Gerri A Harrison CFP EA
Gerri A Harrison CFP EA
Financial advisor/Tax preparer
Bachelor's Degree
245 satisfied customers
are business trust fund taxes personally deductible if
Have C corp which is in trouble; I have started a sole proprietor bus, however, still owe 941 tax from C corp. Can I take the monies from sole/prop business and use to pay 941 tax for C corp… read more
RD
RD
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