asked
I am preparing an 8802 form to request a US residency certificate for the previous year while in the US on an F-1 visa. I filed Form 1040 and need to include two statements with Form 8802: one explaining why Form 1040 was filed and another showing that I reported my worldwide income. What qualifies as a statement? Is it a specific form or just a written notice with my signature? Is the first statement as simple as saying I had income in the US? For the second statement, is it enough to submit the tax return document (1040 form) for 2021 since I did not have any other income outside the US?
January 20th, 2024
I am a new LLC with revenues close to $60k this year and increasing by about 20-30% every year. I am debating between filing as a Single Member LLC or electing S-Corp status. Is the only reason to elect S-Corp to save on SE taxes? Are write-offs and deductions the same between the two? If it is a pass-through entity and I take the standard deduction on my personal tax return, can I still do itemized deductions? When would a new LLC elect to be an S-Corp, and what are the top things to consider?
August 17th, 2024
When is capital gains tax charged on a real estate property sale, and under what conditions can it be deferred or waived?
February 4th, 2024
My husband has sent me a valuable package from Ireland, and USA Revenue Authorities are telling my broker that $18,830.00 is due before they can release the parcel. Is this a scam or legitimate?
January 17th, 2023
I have an Etsy online shop in NYC, operating as self-employed and paying estimated tax quarterly. I did not register anything. Can I get a resale certificate in New York as self-employed, and do I need to register as a sales tax vendor for this? Additionally, can I get a credit or refund if I paid sales tax for some supplies earlier this year?
January 12th, 2024
I have set up an LLC in Washington State and I am trying to figure out the tax class I have set up, whether it is Class S, C, or partnership. I have an EIN and UBI number, but I am not sure where to find the information about the tax class. Can you help me determine this?
June 25th, 2024