asked
Dealing with a B&O tax on a commercial fisherman. Seems to be establishing precedence as we cannot find other fisherman who have had to pay this in the past. What is the best method to proceed if believed it is not applicable?
January 26th, 2024
I'm a U.S. citizen living abroad in Costa Rica and need to set up an LLC in the U.S. for our business targeting North Americans. We require a U.S. business bank account to accept credit cards. I'm planning to form the LLC in Wyoming and want to know if using a Costa Rica address as the primary/office address will cause delays, problems, or more paperwork. Additionally, I want to understand if we would still need to pay state taxes if we operate from abroad, and if including a family member or close friend in the LLC at a low percentage (5-10%) can help avoid additional tax and liability issues.
December 3rd, 2023
I currently work a full-time job as a W2 employee of a corporation and plan to transition fully to living as a musician within the next year. Can I write off my training expenses (e.g., voice lessons, dance lessons, performer workshops) as a musician before I start performing paying gigs?
July 8th, 2023
I received custody of my daughter in November 2012. Her mother and I were never married. Previously, the mother had custody and claimed her on her tax returns. Am I now able to claim my daughter on my 2012 tax return or do I need to wait until 2013?
February 22nd, 2024
I sold my property on a land contract effective 9/1/2010. I considered their payments as rent until all the terms of the contract were met. Am I required to issue a 1099 Int for 2010, 2011, 2012, and 2013? I never thought about it and they never asked until now. If so, what do I do about 2010 & 2011? I have shown it as rental property/income on my taxes.
March 12th, 2023
My family and I want to open a bank account for my brother who was in a terrible fire. We have been fundraising for him and will have a benefit for him in a few months. What type of bank account should we open for expenses, donations, donations via his webpage, and from the media sharing his story and our need for help with donations? Also, will the people on the account have their social security numbers be taxed on this or just the account name with the EIN number?
April 13th, 2023