asked
I am a consultant with my own S corp. My wife is starting an at-home business and I want to avoid self-employment taxes for her. Can I add her to my company and file a DBA for her business? I would then pay her a salary, and my payroll company would deduct taxes. Is this correct, and is it the best way to avoid self-employment taxes, or are there benefits to her setting up her own LLC or corporation?
May 6th, 2024
What are the capital gain tax consequences of selling stock in the name of a revocable trust, which is under a special needs trust, and using the stock proceeds to purchase a home in the name of the revocable trust?
July 29th, 2023
For an S corporation filing Form 1120S with gross receipts/assets under $250,000, is Schedule M-2 required even though TurboTax business program does not calculate it?
March 11th, 2024
As a senior citizen, if I win Pick 4 and receive food stamps, will I have to pay taxes or give the winnings to food stamps?
January 30th, 2024
What tax forms should a petting zoo business use if it is listed as an LLC, and is it the 1120 or 1040 schedules F & C? If a personal 1040 was completed, is an amended 1040 needed with the Schedule C & or F? The petting zoo has one owner and is considered a farm-related business.
February 8th, 2023
A tax preparer made a mistake on my 2017 Federal tax return in Wheatland, Wyoming, by not accounting for my wife's 2017 Social Security income, resulting in an additional $3572 payment to the IRS. I confronted him with evidence of his mistake, and he apologized but did not offer to compensate for the penalties and fees. What steps should I take to recover his fee and have him pay any penalties and fees?
March 24th, 2023