What would happen if I gifted someone an amount over the annual gift tax exclusion and then they gifted it back in the same year? Do either of us have to fill out a Form 709 still?

September 8th, 2024

I am starting an LLC and wondering if I should have it taxed as an S corp. I am 55 years old with one dependent, located in Massachusetts, and my sole proprietor business will gross about $38,000 this year. I receive payments from Amazon and other companies for royalties and have been claiming that income as a sole proprietor. Once my LLC is finalized and funded, I plan to channel that income into the LLC accounts. Should I consider S Corp status, and how should I handle the income for tax filing purposes before and after the LLC is established?

July 18th, 2024

I received a message about my 2020 tax refund and was instructed to call the IRS, but I can't get through. What should I do?

March 30th, 2023

I need a copy of my 2021 taxes. Which form do I need to retrieve, and is there anything else the accountant should know before connecting?

November 24th, 2024

I need to make an online payment for my 2018 and 2019 federal taxes using a Way To Go debit card that expires in November 2022. Can I do this online, and will I receive a receipt or confirmation after making the payment?

March 14th, 2023