asked
I have an S corp that has always filed cash basis tax returns and currently has average sales exceeding $10m for the prior 3 years. I believe we need to file Form 3115 to change from cash basis to accrual basis accounting. Does changing from cash to accrual qualify for an automatic accounting method change, and how should I proceed with the preparation of Form 3115?
August 13th, 2023
I inherited an empty lot from my mom who paid $10,000 for it in 1980. We paid taxes on it for years and recently sold it for $12,000 after it was reappraised at $22,000. Is the sale considered a loss, and are there tax implications or credits for the years we paid taxes?
June 12th, 2024
Can I claim a theft loss on my taxes in California if the loss occurred in a non-disaster area in April 2021?
September 19th, 2024
I am an international student living in LA and want to build an LLC in the US for my YouTube content creation business. I want to choose a state with the lowest tax. As a foreigner, do I need to pay a specific type of income tax? Would forming an LLC in a state like Delaware be different from forming one in LA for tax purposes?
June 20th, 2024
Where do I report my 401(k) contributions or distributions on my tax form?
January 29th, 2023
I am a DJ in a strip club and have to pay my boss $5.00 per girl per shift, with 20-30 girls per shift. My boss does not provide receipts for the money I give him. Can I claim this money, and how?
August 20th, 2024