asked
I am a self-publisher on Amazon KDP and my account was banned due to a mistake. I am considering opening an LLC and creating a KDP account for the LLC, which is a separate entity. However, Amazon's Tax Interview form treats a single-member LLC as an individual, requiring personal tax information. This could lead to my new LLC account being banned as well due to the connection with my previous banned account. Can I fill the tax information with my single-member LLC's legal name, address, and EIN?
May 7th, 2024
I sold a single-owner LLC last year, and I'm unsure whether the sale of self-created intangibles like a client list, digital assets, and the business name should be reported on Form 4797 or Schedule C. Additionally, I need to know how to report the sale of Class V physical assets like equipment used in the business, which were depreciated under Section 179 or acquired the same year as the sale.
March 16th, 2023
What is the tax impact of selling my home and moving to a rental apartment, given that I sold the house for $275,000 after purchasing it for $285,000, and made several expenditures to improve the property?
January 9th, 2024
I recently retired from the Chicago police and withdrew from a 457b deferred compensation plan in 2023. The taxes were deducted before I received the check. Do I still have to count that as income and pay taxes again on it?
September 27th, 2024
I got married on November 4, 2023, and my last name has been changed with the Social Security Administration (SSA). I received some 1099 forms with my old last name. Do I need to request corrected ones?
May 9th, 2024
I invested $100,000 in a friend's startup business, but the business failed. What is the best way to write off this loss, considering I have a partnership contract with repayment terms in case of failure, and I want to avoid involving lawyers?
March 22nd, 2024