asked
I am an American living in Central America, working as a business consultant with American clients. My wife, a foreign national, established a Belize corporation which then opened a Florida LLC. I receive payments from clients into the LLC's bank account, which is a pass-through entity for the Belize corporation. My wife pays me a salary, which I plan to declare on my tax return, keeping my income below $100,000 to avoid U.S. tax obligations. Is this structure legal and can it avoid IRS scrutiny for tax avoidance?
September 17th, 2023
I need to obtain a copy of our corporate CP-575 form that authorized our new corporation to use tax ID 26-0019799 for Facchiano & Associates PC located at UE 265 Cherryvale Mall, Rockford, IL 61112. How can I get this form or an alternative verification?
November 14th, 2024
I am an immigrant who got my green card in 2008 and came to the US with an F1 visa in 2005. I have sold my home in Egypt, which my parents bought for me when I was a kid, and transferred the proceeds (valued between $80,000-100,000) to my US account. Do I have to pay taxes on that money, and how should I determine the basis and gain for tax purposes?
October 26th, 2023
Can I deduct wages I paid myself on Schedule C as a sole proprietor?
February 4th, 2023
I sent a subcontractor a 1099-MISC in January and I am filing my taxes online, but I am not sure what to do with the red 1099 and 1096 forms that need to be sent to the IRS.
October 4th, 2023
I was eligible for a subsidy for my health insurance through the health insurance marketplace, but after a raise, I exceeded the income threshold and failed to alert them. How should I handle this on my income taxes?
December 28th, 2024