Tax

Have a tax question? Ask a tax Expert

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

Related Tax Questions
This question is forONLY is it better to Opting out of the
This question is forCustomerONLYis it better to Opting out of the New partnership audit rules by file Form 1065 Schedule B-2?… read more
taxmanrog
taxmanrog
Master's Degree
1,788 satisfied customers
What is the benefit of electing out of centralized audit
what is the benefit of electing out of centralized audit regime under 6221(b) … read more
Carter McBride
Carter McBride
LLM
3,110 satisfied customers
I am finishing up on my 1065 for tax year 2018, there are 2
I am finishing up on my 1065 for tax year 2018, there are 2 partners. Line 25 of the 1065 form "is the partnership electing out of the centralized audit regime under section 6221(b). If I check the bo… read more
DK_CPA
DK_CPA
CPA
Master of Science in Accounting & Taxationb
1,255 satisfied customers
I use TurboTax Business for a 2 Member llc,there is a new
I use TurboTax Business for a 2 Member llc,there is a new Tax law I need help with; should i opt out of centralized partnership audit regime. Does this affect the tax we pay? What benefit or no benefi… read more
Brian Bunn
Brian Bunn
MBA
2 satisfied customers
I HAVE A QUESTION. I LAVE A NET LOSS HOW DO I REPORT IT ON
HELLO, I HAVE A QUESTION JA: Sure, I'll do my best to help. What's going on exactly? Customer: I LAVE A NET LOSS HOW DO I REPORT IT ON 8804 JA: Have you talked to a tax professional about this? Custom… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,279 satisfied customers
What is a partnership representative of an LLC? What is the
What is a partnership representative of an LLC? What is the impact of electing out of having one?… read more
PDtax
PDtax
Certified Public Accountant (CPA)
Master's Degree
5,975 satisfied customers
On the form 1065, Return of Partnership Income, on the first
On the form 1065 , Return of Partnership Income, on the first page there is new paragraph "Tax and Payment" Can you please explain what this paragraph is for? ( last year we simply added Ordinary busi… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,754 satisfied customers
Lane I have been saving all the recip sine we purchased the
For Lane, Lane I have been saving all the recip sine we purchased the building I have not filed any taxes on this new business because it is not up and running yet we hope to open sometime in Septembe… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,421 satisfied customers
Next year (2018) we are going to elect our LLC to be tax as
Hi,Next year (2018) we are going to elect our LLC to be tax as a C Corp. This year (2017) I show losses and I don't have any basis (capital account) in the partnership. Thus, both my partner and mysel… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,754 satisfied customers
If we open an LLC for a totally online business, do we need
Hello, If we open an LLC for a totally online business, do we need to register with city or county too or just state registration for LLC is enough? I moved out of the country recently and plan to ope… read more
Matthew Breecher
Matthew Breecher
President
MBA (Graduate Legal Studies)
283 satisfied customers
I wish to setup a business partnership with a colleague and
I wish to setup a business partnership with a colleague and split the profits of the business 50/50. Would it be best for his corporation and my corporation to create a partnership? What are the other… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,754 satisfied customers
My LLC/C-Corp being a 98% member should file Form 1120.
My LLC/C-Corp being a 98% member should file Form 1120. I'm unclear what form the second 2% LLC should file. Could you please clear this up for me. Thank you.… read more
Jax Tax
Jax Tax
Senior Tax Attorney
Master's Degree
1,394 satisfied customers
RE: LLC makes an election on Form 8832 to be a "c" corp. Then
RE: LLC makes an election on Form 8832 to be a "c" corp. Then Form 8832 to terminate the "c" election and be classified as a Partnership or flow to 1040. Looks Like form 8832 can be used both ways for… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,754 satisfied customers
Have an LLC in the produce business with three foreign partners
Have an LLC in the produce business with three foreign partners that was organized in 2012. Form 1065 has been filed for 2012 and 2013. We get letter from the IRS that advises the LLC that a From 8832… read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,383 satisfied customers
I am a partner with 5 siblings of a summer rental property.
I am a partner with 5 siblings of a summer rental property. I am going to buy 3 of them out. For the past 2 years we have been taking depreciation on the property. When I sell the property many years … read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
An LLC member sold his 12% interest to an individual. To whom
An LLC member sold his 12% interest to an individual. To whom does the partnership send a K-1? If both is it prorated in some way?… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I have several taxes questions 1) I have a partnership
I have several taxes questions: 1) I have a partnership where I am the only partner. Do I still fill a 1065 Partnership return? 2) I am the 100% owner of an LLC. What form do I file? Should I switch t… read more
Jax Tax
Jax Tax
Senior Tax Attorney
Master's Degree
1,394 satisfied customers
started business in 2009 as an LLC with 6 members...we didnt
started business in 2009 as an LLC with 6 members...we didn't make any money at all this year and all members were just contributing their time, skills etc instead of cash... about midway through the … read more
Jon Andrews
Jon Andrews
CPA
3,038 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