I and my family members formed a 4-member LLC partnership in Florida last year. Our first year's total income is about $880, and we have spent (invested) $3500. Must we file Form 1065 this year, and do we need to file any other forms? Additionally, where should we note expenses such as LLC filing fees, advertising, payments to gig workers, monthly bank account fees, domain costs, and advertising?
December 14th, 2024
We bought our current house in August 2019 and are moving to another state for job reasons. To avoid paying capital gain taxes, should we wait 2 years before selling our current house? If not, what are the implications of a partial exclusion, and how much could the capital gain taxes be?
April 18th, 2024
LLC members have to pay full payroll tax 15.3% when taking profit from the LLC, but small corporation, Inc, the shareholders do not have to pay payroll tax when taking profit from the corporation, is this correct? I am trying to choose between an LLC and an Inc, and need some suggestions.
April 17th, 2024
When an S-Corp withholds taxes from employees, where does that money have to be paid to, and what happens to the difference if the employee's refund is less than the amount withheld?
January 13th, 2023
I missed my required minimum distribution (RMD) by December 31, 2021, and paid it on March 14, 2022. How do I file this on my 2021 income taxes?
July 9th, 2024
My husband died on May 2, 2022, and I need to file for an extension due to my current hospitalization. I have never filed taxes on my own and am completely overwhelmed. How can I file for an extension, and is there any assistance available for someone who is not proficient with computers?
May 26th, 2024