asked
I am applying for U.S. citizenship and considering filing for bankruptcy due to the pandemic. Will this disqualify me from getting my citizenship, and could it affect my fiance's ability to join me in the U.S. after I obtain citizenship?
February 5th, 2024
How do I create an LLC for my rental property and contribute funds to it if I already own the property free and clear?
April 21st, 2024
I made a purchase for $51, but the company is charging me $125. What should I do about this discrepancy?
May 2nd, 2024
I received a letter #4883c from the IRS regarding my 2018 taxes, and I never contacted them. Now, I need to file my 2018 and 2019 taxes to get the stimulus payments. What should I do?
April 15th, 2023
What are the differences between filing Form 1023 and Form 1023-EZ for a tax-exempt non-profit charity startup, and what are the requirements and restrictions for each form?
November 4th, 2023
A dental practice, an 'S' Corporation with two equal stockholder/employees, wants to allow another dentist, who is also an employee, to purchase a 20% interest in the Corporation for $400,000. The book value of a 20% interest is $200,000. The two existing stockholders own 50 shares each. Would it be tax advantageous for the sellers to each sell 20% of their stock to the third dentist personally or for the Corporation to issue an additional 25 shares to the 3rd dentist for $400,000? If the Corp issues new shares, would a step up in basis have to be recorded? If the 'S' Corp finances $175k of the $400k purchase price over 3 years, would this be treated as an installment sale or does the Corp simply record the receivable & offset it as the payments are received?
July 17th, 2023