asked
I owed state taxes from 2008 and received a letter stating they would use my 2014 Federal return to offset the balance. I called the state office and the IRS, but neither confirmed receipt of payment. I was supposed to receive a refund of $6,432, but only owed $4,500. Why haven't I received the balance?
November 29th, 2023
I am starting a freelancing web design business and have completed my first website for a client. They have given me a W-9 form to fill out. If I get an Employer ID Number (EIN), does this allow me to charge sales tax for my services? Can I just get the EIN and build websites for clients without charging them tax, but instead have them each provide a W-9 form? Should I get a DBA or LLC, or can I continue as an independent contractor requiring each client to submit a W-9 form? What is the difference between getting a DBA and registering with state tax authorities to start a legitimate business, and just filling out a W-9 form for each client serviced? If I get a DBA for my business and charge sales tax for my services, do I still have to get a W-9 from clients even though they paid sales tax on the service provided? When a client asks for a service, why do I have to get a W-9 from them if the studio where I work as an independent contractor does not require it?
May 26th, 2024
How do I apply for a tax ID number (EIN) for an LLC that has already been registered with the state of Mississippi?
September 25th, 2024
Working overseas and filing Form 2555, which makes my salary tax-free, can I contribute to a traditional or Roth IRA?
September 6th, 2024
In a C-Corp, must profits be distributed to shareholders at the end of the fiscal year? If not, and the profits are not distributed, do shareholders then have no personal income tax liability from the corporation for that year? In an LLC, are members taxed on profits regardless of whether or not cash distributions are actually made? Must funds be distributed at the end of the year in an LLC? What are some common benefits that corporations attach to preferred stock?
September 20th, 2024
When filing Oregon taxes, will my tax be based on my federal AGI after the federal standard deduction for married seniors ($25,300) or on my income before that deduction? Additionally, does Oregon allow itemized deductions if I use standard deductions for federal taxes?
May 7th, 2024