When I convert a new traditional IRA (containing a one-time contribution of $7,000 in after-tax dollars) to a Roth IRA, do I have to use the IRS 'pro-rata rule' due to my ownership of a gold/silver traditional IRA, and do I have to wait a year to convert, or can I do so immediately?

July 5th, 2024

How can I provide a rating for the service on the screen, and what should I do if I cannot see the rating stars?

December 21st, 2023

I want to incorporate my existing sole proprietorship as an LLC, apply to be taxed as an S corporation, and then set up a self-directed 401(k) in the name of my LLC. What is the correct order to do these steps, and what are the appropriate steps to accomplish each?

June 21st, 2024

I am a US citizen and pay US taxes my whole life. For the last 30 years I have lived in the US and consulted on projects outside the US. Since 2010, I am living in Bangkok. I work as a consultant in many countries but not the US. I now have a project in Jakarta. Jakarta requires form 6166 from the IRS stating I am a US resident. I do not have a domicile in the USA. The IRS are asking me if I am a US resident and the form they want me to sign is "under penalty of purjury". Do I say yes and sign the form? Am I still legally a US resident (as a US citizen) even though I do not have a US domicile?

November 20th, 2023

How much income tax do I have to pay on a partial surrender of a life insurance policy? I am going to receive a partial surrender amount of $11,000 and my annual income is around $30,000. Should taxes be withheld now, and if so, what percentage should be withheld?

August 21st, 2024