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Recent Revenue Service questions

Are you a real person? Sorry never done this before, Ok I

Hello are you a real person? Sorry never done this beforeJA: I'm an assistant to the expert. I work with them to help customers like you.Customer: Ok I own a moving companyJA: The expert will know how to help. Please tell me more, so we can help you best.Customer: And many of my customers give me furniture that they no longer want or need.JA: Is there anything else the expert should be aware of?Customer: My question is would it be legal for me to donate all furniture that is given to me to the Goodwill and then claim the deduction on my taxes as long as I get a receipt for each item donated?

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Robin D.

Vocational, Technical or Trade School

25,652 satisfied customers
I have a question about how to report selling of mineral

HiJA: Hi. What is your issue regarding?Customer: I have a question about how to report selling of mineral right. If I report the earning $500000 on 1099 form on sch C, where should I report the basis? Should I report the basis under cost of good sold ? or supplies? ThanksJA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: can I increase the basis of the mineral right?

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Matthew Breecher

President

MBA (Graduate Legal Studies)

360 satisfied customers
As a owner of an Online Dating website, i want to

Hello! As a owner of an Online Dating website, i want to incorporate. Do i need to apply for GST/HST, if i charge clients only for reading messages? Copying photo, video or other data from website is not allowed, so there is no any digital content for download

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Matthew Breecher

President

MBA (Graduate Legal Studies)

360 satisfied customers
I have a tax question on my margin losses.. The 1099 that I

HI ..I have a tax question on my margin losses. . The 1099 that I received from my broker lists short torm gains, wash sale s , and long term gains.JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: But from my point of view , those "gains" were not gains .. evevn tough the stock sold for more than I paid for it, all of these "gains " went to satisfify the mainance requirements .. I never saw any of it.. so it was a capital loss, so to speak for me. I am talking abot $205 K in "gains " that were actually losses for me. But Im having some troubel with the tax cforms.JA: Is there anything else the Accountant should be aware of?Customer: ED

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Chad CFP ®

Certified Financial Planner(R), Pro

Master's Degree

366 satisfied customers
An IRS enrolled agent prepared our taxes and didn't report

An IRS enrolled agent prepared our taxes and didn't report all of our income for 2015 and now we will have taxes due and will owe penalties and interest. Do we have any recourse in this matter?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: we sold our home and he did not include it on our returnJA: Is there anything else important you think the Accountant should know?Customer: I also had 2 businesses that year with losses, but it looks like he only reported the losses on one business. The other had expenses of over $25k and no earnings

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Matthew Breecher

President

MBA (Graduate Legal Studies)

360 satisfied customers
My husband and I have always filed taxes as "married, filing

My husband and I have always filed taxes as "married, filing jointly". He is 68 years old, receives Social Security retirement benefits and works part-time. I am 62 years old, work part-time and am considering filing for Social Security early retirement benefit. because of the amount he earns (despite the fact that his earnings are not limited by Social Security), my Social Security seems to be taxable up to 85%, and I will have to pay Social Security about 1/2 of my earnings. We have many eligible deductions, so we itemize.Would we be better off filing as "married, filing singly"?

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Robin D.

Vocational, Technical or Trade School

25,652 satisfied customers
I am thinking about employing a Canadian individual (as an

I am thinking about employing a Canadian individual (as an Employee) from my US LLC. The US LLC is not currently registered in Canada with the CRA. I would need to register with the CRA to employ the person as an employee in Canada. Note that this person will be working in Canada not in the US (and will almost never visit the US in fact), so the work is done in Canada.Question: Are there any potential negative consequences for my US LLC if I register it with the CRA?

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Matthew Breecher

President

MBA (Graduate Legal Studies)

360 satisfied customers
I filed joint this year with my husband. His income is fed

I filed joint this year with my husband. His income is fed CSRS retirement annunity. He draws no social security. My income is social security and FERS Fed Annunity. I filed joint and I was under the impression that social security tax was calculate only on my income. When I got my return back the IRS had included my entire income. Can you clarify? If the Irs is correct, would it make a difference if I filed seperately?JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: I think that is it.

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Chad CFP ®

Certified Financial Planner(R), Pro

Master's Degree

366 satisfied customers
Are you a real person? Ok Can I ask you my question? I am a

hi are you a real person?JA: I'm an assistant to the Accountant. I work with them to help customers like you.Customer: Ok Can I ask you my question?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I am a UK company that sells online in USA. I registered for an EIN number and got an 1120f. A US accountant says I just need to let them know that I pay taxes in UK. It sounds very straightforward but they want to charge me $1500 for this - it sounds like little more than 15 minutes work.JA: Is there anything else important you think the Accountant should know?Customer: I don't think so

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Robin D.

Vocational, Technical or Trade School

25,652 satisfied customers
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