If I form an S corporation in Georgia (GA) with business operations in the state, does the S corp pay GA income tax, or do individual shareholders pay income tax? If I form an S corp in Delaware without doing business in the state but in other states, does the S corp pay Delaware income tax?

September 26th, 2023

As a US citizen with a controlled foreign corporation (CFC) in country X, what is the maximum percentage of the CFC's corporate income that can be allocated as US sourced before the IRS no longer considers the CFC a foreign corporation? Additionally, how can I legally account for US sourced income during my trips back to the US without affecting the CFC's status or generating Subpart F income?

May 27th, 2023

Can my dad give me $200,000 without either of us getting taxed on it? I need the money for a down payment and I earn over $250,000 per year.

March 2nd, 2023

The sole proprietor of a small business involved in a non-profit fundraiser was from Juneau, Alaska, and was living in a van in Maui, Hawaii from mid-December to the end of April. She had no tax papers in her belongings and later mentioned her mother did her taxes, which seems unlikely given her living situation. I suspect the taxes were never filed and the fundraiser money was pocketed. How can I prove this was a case of fraud?

August 16th, 2023

Does the capital account increase/decrease from the LLC K1 form get brought in as a taxable item/deduction on the LLC member's personal tax return? How does the LLC's ordinary income or loss get brought into the member's personal tax return?

May 18th, 2023