Husband is 51% owner and wife is 49% owner of an S corp. The wife has been handling the money and has co-mingled and cooked the books. The husband does not want her handling money anymore and wants to open a new account without her access. He is legally separated from her. What are his legal rights, and should he continue using the old accounting or start a fresh set of books?

March 30th, 2023

I have had issues paying the minimum monthly payments required for an IRS payment plan due to extreme financial hardship. I have had to restart various payment plans after defaulting. Currently, I have not been able to pay the monthly amount and my payment plan is about to be defaulted. What would be some options with the IRS?

August 16th, 2023

Should we try to buy the duplex in Culver City, CA now that it's worth close to $1,000,000, and what are the tax implications for both us and our friend who originally purchased it for us?

March 1st, 2024

As a sole shareholder (100% owner) of a New York S-Corp performing consulting services outside of NY State for more than 330 days in a foreign country, should I report the consulting revenues for NY State? Are the revenues performed outside of NYS taxable in NYS? Should the NY S-Corp withhold taxes on salaries paid to me as I am the only employee of the S-Corp? Do I have to file a NYS tax return for the S-Corp K-1? Are the S-Corp K-1 taxable in NYS? How can I lower my taxes?

December 22nd, 2023

Are there any federal income tax limits on gifts made to foreigners, and what should I know regarding these limits?

July 3rd, 2023