I deducted this year's Section 179 (Form 4562) from my books with a Journal Entry (Debit Depreciation Expense and Credit Accumulated Depreciation). Do I record it on M-2 Line 5 on my 1120S tax return?

April 13th, 2023

Identify which of the following statements is true:\ \ a. If money distributions exceed the partner's basis in the partnership interest, the partner would have to recognize gain on the distribution from the partnership. Such gain is usually an ordinary gain.\ \ b. When partners receive cash distributions from the partnership, they generally pay no taxes on those distributions.\ \ c. Distribution of partnership income in the form of cash to partners is generally taxable to the partners and the partnership.\ \ d. All of the above are true.

September 24th, 2023

I am a UK resident and I wish to purchase US stocks. Do I pay tax on any income from these stocks in the UK or US? I understand that I have to complete a W8BEN, where do I find the relevant tax treaty?

January 26th, 2023

My company is hiring entertainers from Dubai and needs to process two wire transfers totaling $130,000. We are located in Texas. What are my legal responsibilities regarding these transfers, and how can I ensure we are in compliance with the government?

June 4th, 2023

How can I get the CUSIP number for my social security number?

May 29th, 2024