If a US citizen inherits land located outside the US from a non-citizen, non-resident parent, is there any tax liability on the inheritance and if the property is sold by the inheritor? How is profit computed, and how does one determine the basis for an overseas property?

January 9th, 2024

Need to file a Form 990-N with the IRS for Non Profit Veterans of Foreign Wars Post 352 for the tax year 2022. What information is required and how should it be submitted?

June 8th, 2023

Once ERTC money is received, how can it be spent personally by an owner of an S-Corp (1120s) other than through wages? Specifically, can the owner take back the amount he infused into the business and invest the rest into another business?

March 8th, 2023

I am the treasurer for a softball team and we have fundraisers and sponsors who donate to help with our girls' team expenses and uniforms and equipment. We are opening a checking account under the team name but don't want an individual to be liable for any taxes since we do not do this for profit. What do I need to apply for as far as a tax ID? And what do I need to file annually?

December 6th, 2023

I have a question about my savings account #3583312565 with a balance of $23,426.12. I want to know what type of account it is, if it's linked to my checking account, and how much I need to leave in the savings account to avoid monthly charges. I also plan to withdraw a large amount to purchase property in Florida and want to avoid a monthly service charge.

December 30th, 2023