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I've started up an LLC in NY state and want to know the best
I've started up an LLC in NY state and want to know the best tax status I should claim under the LLC. We will be launching an Indiegogo campaign and in the income we receive our target goal which coul… read more
DK_CPA
DK_CPA
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How are you? I have a online store, it is in shopify. No
Well, The thing is I cannot accept credit card payments in the store, because the system ask for a social security and I only have ITIN number for taxes purposes, My question is if Can I use his information, he become the owner but I will be working with store, and of course the income will be for me, so at the end of the year when he does the taxes he can use that information as proof of income and expenses. Of course I will have information for all that because I will be the one taking the money. and of course at the moment for paying taxes, I will give him to money to do that. Is this method right? or Is there any problems with this method?… read more
Lev
Lev
Retired
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My cousin lived with me all year, as well as his children.
Second opinion] my cousin lived with me all year, as well as his children. they are my nieces and nephews correct?… read more
Lev
Lev
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Bachelor's Degree Equivalent
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How would I be tax if I had an umbrella LLC formation. I
How would I be tax if I had an umbrella LLC formation.I have an operating LLC (not S Corp)That owns 3 LLCsWould I have to file an schedule C for each LLC?How would this work? And would I pay taxes twi… read more
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HK Tax
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A 2% SHAREHOLDER IN AN S-CORP HAS HEALTH INSURANCE PREMIUM
Second opinion] A 2% SHAREHOLDER IN AN S-CORP HAS HEALTH INSURANCE PREMIUM PAID BY THE CORPORATION. THE PREMIUM IS ADDED TO HIS W-2 WAGE AND HE TAKES A DEDUCTION OF SELF EMPLOYED HEALTH INSURANCE ON H… read more
ABC Accounting Group
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Bachelor's Degree
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If someone turned their sole proprietorship into an LLC last
If someone turned their sole proprietorship into an LLC last year, but they are a single member LLC, they still only file a Sch C, correct?… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I started a single-member LLC in California in 2015. I
I started a single-member LLC in California in 2015. I decided to do taxes using TurboTax. I managed to get my federal return completed. But TurboTax does not automatically handle California FTB Form … read more
Barbara
Barbara
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I have a questions about the legality of a particular business
I have a questions about the legality of a particular business structure. The assumptions of this question are the tax rates found here: http://www.smbiz.com/sbrl001.html. Would it be legal to set up … read more
CFEPro789
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I am a Chinese student who just graduated and am currently
I am a Chinese student who just graduated and am currently under OPT which will give me lawful right to stay in the U.S. until next Feburary. I incorporated a small business that just have some revenu… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
18,818 satisfied customers
Client formed a partnership with one other partner, and made
Client formed a partnership with one other partner, and made the business an LLC in 2013. The partnership did nothing in 2013, no income, minimum expenses to set up LLC. Partner #2 dropped out. Does t… read more
Megan C
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!) I have a client who just bought a building and was planning
!) I have a client who just bought a building and was planning to lease it to his single member LLC. I have found that and put the income on sch E because Single Member LLC is not entity. I read one o… read more
CFEPro789
CFEPro789
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Master's Degree
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I am filing a later return for 2011. My son turned 18 in March
I am filing a later return for 2011. My son turned 18 in March 2011, lives at home and was in high school the entire year. We pay for all his needs. He has income from an internet channel where he get… read more
Richard
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Doctoral Degree
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I have an LLC question: We are a sole proprietorship auto
I have an LLC question: We are a sole proprietorship auto repair business. We just became an LLC- Will I get double taxed? I thought it was going to be simple but my accountant says he charges an extr… read more
PDtax
PDtax
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Master's Degree
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I am using an online tax preparation program to do my taxes.
I am using an online tax preparation program to do my taxes. My husband and I are married filing jointly. After reporting his w2 ( he made around 52, 000.) and taking all deductions our refund was aro… read more
Robin D.
Robin D.
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My 32 year old son was disabled with Autism. He was receiving
My 32 year old son was disabled with Autism. He was receiving SSI payments since he was 18 years old. I have doctors' documentations that he must continue support and maintance from us, his parents in… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
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Hello, I have a question about how to file for myself and my
Hello, I have a question about how to file for myself and my live in girlfriend for 2010,whom I have been claiming on my returns for the last 3 years.She does not have any income or receive any public… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
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Our 19yr. old son graduated from a tech school is Sept. He
Our 19yr. old son graduated from a tech school is Sept. He started his new employment in Nov. Purchased over 8,000. in mechanic tools so far. We will be claiming him this year yet. Next year we can no… read more
Jesse Handel
Jesse Handel
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Bachelor's Degree
161 satisfied customers
My son was in college last year and I want to claim
My son was in college last year and I want to claim him as a dependent. He worked last year giving guitar lessons but only made about 2500 for the whole year. This counts as self-employed I believe so… read more
jgordosea
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