All Questions

0
votes
3answers
17 views

How Income Tax and personal tax is charged in US

Can please someone let me know how the US Taxation laws & compliance are charged in USA.
1
vote
2answers
11 views

Foreign Earned Income Exclusion for A Sales Rep Working Overseas

I have a tax client who moved to China in Aug of 2009. He will continue living there until an undetermined period of time, but it will be at least a year from the time he moved. …
1
vote
1answer
21 views

smllc now as s corp

I received acceptance from IRS for 2010 sub s status but now considering pass through as smllc due to current fees/expense arrangement can i use a w-9 with disregarded entity …
0
votes
0answers
6 views

Missing NYS S-Corp tax bill

What do I do if I can't find our S-Corp tax bill? How can I find out how much is due and where to send it?
2
votes
2answers
33 views

How to handle C-Corp investment on individual return?

We started a C-Corp business in 2009 and each (two people) invested $3,000. We purchased some stock with this investment. In 2010, we have already purchased more stock with $6,00 …
2
votes
3answers
42 views

Can a business charge another business a tax on SERVICE?

Can a business charge another business a tax on a SERVICE? For example, when purchasing technology e.g. hardware and software, is a vendor required to list and itemize separately …
2
votes
1answer
19 views

S corp wages health insurance premiums attribution rules

Am I correct to add the health insurance premiums to wages for the son of an "S" corp owner due to rules of attribution for the stock ownership? The son owns no shares of his own, …
1
vote
3answers
37 views

Off the books employment

I have already filed my taxes, however I baby-sat my god daughter from time to time throughout the year. I did not include that income when I filed. Can her mother still put me …
4
votes
4answers
55 views

Schedule C - Huge Loss

Is there a limit as to the amount of loss I can report on schedule-C? Opened a business in 2009 - Revenues = $50,000, Expenses = $125,000. Included in expenses is about $12,000 s …
2
votes
1answer
20 views

NYS NOL Carryforward - How many years

For how many years may a corporation carryforward a NYS NOL? Does NYS conform to the Federal 20 year carryforward?
3
votes
5answers
51 views

CTPA/bookkeeper will not reliquish the QuickBooks file. What recourse does the client have?

The offer to pay for the file setup was made, and the tax preparer/bookkeeper -REFUSED! He will not give the QuickBooks file over. This individual has claimed that the file belong …
1
vote
4answers
35 views

Should independent contractor say business uses cash or accrual method, if he does not remember and last return was so long ago that it cannot easily be checked?

Person worked as a self-employed independent contractor (receiving Form 1099-MISC non-employee compensation) in 2001, 2003, 2004, and 2009, but not in 2005-2008. Person no longer …
2
votes
5answers
48 views

Cash Accounting: Which year to report final check?

I'm a consultant using cash accounting. One of my clients provided me a W-2 that includes payment for my December billings even though I didn't receive or deposit the funds until J …
1
vote
1answer
23 views

Per Diem Expenses for Schedule C filer

Can a schedule C filer use per diem rates for meals and lodging rather than actual receipts? Can you point me to the IRS regulation that addresses this? Thanks!
1
vote
3answers
24 views

First Time Homebuyer tax credit

Can a taxpayer, who bought a house through her dad's name, only to have her name added to the deed after closing as joint tenants, qualify for the first time homebuyer tax credit? …

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