asked
As a sole shareholder (100% owner) of a New York S-Corp performing consulting services outside of NY State for more than 330 days in a foreign country, should I report the consulting revenues for NY State? Are the revenues performed outside of NYS taxable in NYS? Should the NY S-Corp withhold taxes on salaries paid to me as I am the only employee of the S-Corp? Do I have to file a NYS tax return for the S-Corp K-1? Are the S-Corp K-1 taxable in NYS? How can I lower my taxes?
December 22nd, 2023
Are there any federal income tax limits on gifts made to foreigners, and what should I know regarding these limits?
July 3rd, 2023
I am thinking of selling my house and buying another one in another area. I would like to buy the new house outright but am concerned about how much capital gains tax I will have to pay. I make about $52K a year. I bought my house for $132K and will be selling it for about $1,100,000.
March 25th, 2024
I started a new C Corporation and am filing its first federal tax return. I capitalized the corporation with $7500 cash in mid-June and plan for a fiscal year ending 6/30. No income was received and no other expenses were incurred before the 6/30 year end. Do I have to count the $7500 as income for federal tax purposes and pay income tax on this amount less the incorporation expenses?
July 13th, 2023
I'm trying to find a statement for a payment I received in 2013. Any idea where I can find that?
March 8th, 2023
I have a tax situation where the wife and husband live in different states the entire year and receive W-2s from their respective states (KY and AL). The best approach is to file a federal 1040 married filing joint return, but file married filing separately for each state. How should itemized deductions (mortgage interest, property taxes, donations, etc.) be split between the states, and how can federal attachments be provided to the state returns if the adjusted gross income, filing status, etc., won't match up?
June 10th, 2023