I have a pension plan in Canada coming up for lump sum payment or monthly pension. Can I transfer the lump sum amount to a tax-deferred investment account in the US without immediate tax payable? Could I buy an RRSP in Canada to defer tax and have monthly income transfers to me in the US subject to tax?

October 15th, 2023

I have been selling on Amazon for a year. Since I am not a US citizen, I have been depositing the funds into my relative's bank account. My relative is also not a US citizen but she opened the US account when she was living in Canada. Should I file taxes with the IRS under my name or my relative's name?

May 23rd, 2023

If a final legal judgement has not yet been made and I am paying my spouse a monthly amount so that the final judgement amount is not such a burden, who is liable for taxes on this amount? It is coming out of my personal account.

February 20th, 2024

Will my Florida LLC be paying wages, salaries, or commissions to employees working in New Jersey within the next 6 months? Additionally, is the work my Florida LLC expenses for the work being performed by its subcontractor-individual (1099) considered employee wage or salary or commission?

March 1st, 2023

I paid an Alternative Minimum Tax (AMT) of $5,000 last year and am unsure if I should have paid it. My Adjusted Gross Income (AGI) was $160,000, I paid $28,000 in mortgage interest, and I file jointly with my spouse claiming 3 kids. On the AMT worksheet, I entered $3,500 in interest used toward the house, which may be incorrect. This year's tax filing did not prompt me to file for AMT, and I noticed a significant difference in my returns from last year to this year. What should I do?

May 22nd, 2023