Tax

Have a tax question? Ask a tax Expert

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

Related Tax Questions
Lane: 1.I've a question regarding 1099 Div received in the
Hi Lane: 1.I've a question regarding 1099 Div received in the name of S corp. from multiple shares held by S corp in public trading companies. Where I should report this income in S corp return 2. The… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,083 satisfied customers
Concerning an S-Corp retail shop that was purchased from
Concerning an S-Corp retail shop that was purchased from another legal entity - Asset Sale, its business activity was overseen by the single-shareholder (CEO/President) for 11 years, then the S-Corp s… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,083 satisfied customers
My wife and I own an S corp which we are planning to sell at
My wife and I own an S corp which we are planning to sell at the end of this year. I have loaned the S corp over $170,000 since its inception which I will never recover. Can I claim this loss on our j… read more
Rick
Rick
MBA
2,063 satisfied customers
Tax question. I purchased a business that included $16,000
Hello, Tax question. I purchased a business that included $16,000 as Inventory. Where do I put that on my s corp tax return?… read more
HK Tax
HK Tax
CPA
Master's of Science
514 satisfied customers
Tax question. A person owns 100% of a California LLC and
Tax question. A person owns 100% of a California LLC and S-Corp. When both S-Corp and LLC needed money for Tenant improvement or purchase of a property. Is it better for the person to loan the LLC and… read more
HK Tax
HK Tax
CPA
Master's of Science
514 satisfied customers
Question for Lane,cfp,jd :a building held in a single member
question for Lane,cfp,jd :a building held in a single member pass thru llc, had allot of renovation work. the owner put up 55 k of his personal money into the llc account to pay for it. now there is 3… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,246 satisfied customers
The distributions over the basis from s Corp is included on
The distributions over the basis from s Corp is included on federal return as income. If taxes on capital gains are lower in az than federal where do I list the capital gains on the az 140 state retur… read more
PDtax
PDtax
Owner
Master's Degree
5,205 satisfied customers
100% S-corp owner purchased a land on which she plans to
100% S-corp owner purchased a land on which she plans to build a house that would be used as a showcase space for the business.Can be cost of the land and expenses incurred building the house to be de… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,246 satisfied customers
Are there limits on the types of assets that may be
are there limits on the types of assets that may be capitalized in a new S corporation, ie. fixed assets, inventory, lease improvements, that were paid for by a sister S Corp, and recorded on the sist… read more
PDtax
PDtax
Owner
Master's Degree
5,205 satisfied customers
I have a rental property in an S Corp and it was totally
I have a rental property in an S Corp and it was totally destroyed by a fire in 2015. My insurance company did not cover any part of the fire therefore we took the complete loss on form 4684 in 2015. … read more
Brian Michels
Brian Michels
Partner, CPA
Bachelors of Business Administration
199 satisfied customers
Asset sale of an S corp. Assets where transferred into S
Asset sale of an S corp. Assets where transferred into S Corp from sole Prop at sole Prop Adjusted basis not FMV. S corp sold all assets. The basis is the adjusted basis at the time of electing S Corp… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,246 satisfied customers
I have a married couple who opened an S corporation with
I have a married couple who opened an S corporation with $30000 that they put into the corp. They would like to withdraw this as a return of capital, and thus reduce their taxable income. Where do I p… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,542 satisfied customers
Lev, If I am transferring cash, real estate and office
Hi Lev, If I am transferring cash, real estate and office equipment from one LLC to another LLC that has just been formed, what is the best way of doing that to minimize tax liability. Both LLC's are … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,246 satisfied customers
JUST STARTED WORKING WITH A NEW CLIENT DOING THIER PERSONAL,
JUST STARTED WORKING WITH A NEW CLIENT DOING THIER PERSONAL, S-CORP AND TRUST TAX RETURNS. HUSBAND AND WIFE (H&W) OWN AN S-CORP 40-60% OWNERSHIP. H&W'S BUSINESS HAS ADDED AN $800,000 ADDITION ONTO THE… read more
BK-CPA
BK-CPA
Bachelor's Degree
919 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
7,542 satisfied customers
My hisbands company was incorrectly set up as a c corp in
My hisband's company was incorrectly set up as a c corp in 1973. We now want to sell our building property which is owned by the corporation. He is the sole shareholder. How can we minimize the capita… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,246 satisfied customers
A SUB-CHAPTER S MAJORITY SHARE-HOLDER AND ALSO ITS PRESIDENT
A SUB-CHAPTER S MAJORITY SHARE-HOLDER AND ALSO IT'S PRESIDENT PLEDGED HIS HOME AS GUARANTEE FOR A BANK OPERATING LOAN TO THE S-CORPORATION. THE S-CORP WENT OUT OF BUSINESS AFTER 25 YEARS AND THE BANK … read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
Tax deduction for shareholder paying corp tx personally
I was a shareholder in a corporation that went out of business and paid $29,000 personally for a portion of the trust fund recovery. I want to know if I can get some sort of tax relief for that money … 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

5,118 satisfied customers

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

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

298 satisfied customers

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

Robin D.

Robin D.

Senior Tax Advisor 4

18,818 satisfied customers

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

Megan C

Megan C

Certified Public Accountant (CPA)

8,665 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