asked
How do I report the sale of business assets for $1 to the landlord in lieu of back rent, with a total equipment value of $642k and accumulated depreciation of $442k, on both the IRS and California returns, considering the client operates an S-Corporation?
May 23rd, 2023
As a company president, I did not take a salary for the first three months of this year. Should I account for this as deferred salaries on the books to reflect company expenditures accurately, and is there a tax event for the corporation or personally if the salary is unpaid?
September 9th, 2024
If I withdraw $35,000.00 from my account and do not roll it over into my own 401k, what is the tax and penalties I would incur?
January 8th, 2023
I received a tax refund check for 2012 that I was not aware of. The check was dated 12/2012. I did not receive any verification or notice about this refund. Do I need to verify this refund before depositing the check, and am I entitled to this refund?
September 1st, 2024
I am a member of a condo home owners association. We filed the 1120-H tax return in 2007 and 2008, but have not filed since then. Is there any way to file previous years' forms, or should we just begin again this year?
February 20th, 2023
In an LLC partnership with a 401(k) plan, where the partnership pays $10k as a salary deferral, should the $10k be reflected as a guaranteed payment on line 13 (code R) of the K-1?
March 29th, 2023