Can my dad give me $200,000 without either of us getting taxed on it? I need the money for a down payment and I earn over $250,000 per year.

March 2nd, 2023

The sole proprietor of a small business involved in a non-profit fundraiser was from Juneau, Alaska, and was living in a van in Maui, Hawaii from mid-December to the end of April. She had no tax papers in her belongings and later mentioned her mother did her taxes, which seems unlikely given her living situation. I suspect the taxes were never filed and the fundraiser money was pocketed. How can I prove this was a case of fraud?

August 16th, 2023

Does the capital account increase/decrease from the LLC K1 form get brought in as a taxable item/deduction on the LLC member's personal tax return? How does the LLC's ordinary income or loss get brought into the member's personal tax return?

May 18th, 2023

I have a SCORP that had one owner at the beginning of the year, who sold all his interest to 4 individuals on July 15, 2017. I need to show the old owner as having all the shares at the beginning of the year and 0 at the end. I am having trouble getting the 1120S to show the proper percentages and share of profits, and the Capital loss shows up on page 3 Sch. K line 8a 'Long term capital loss'.

September 23rd, 2023

Are appointed paid zoning and planning board members as well as paid elected officials (Mayor and councilmen) subject to unemployment and FLI withholding in NJ? I cannot find an exemption for these employees under the law. Currently, I am not withholding taxes from these employees. To promote or correct this, I am seeking concrete regulation that will support my case either way.

June 3rd, 2024