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I recently opened an LLC about 3 years ago and just started taking in income to our business account a year ago. I made the mistake of wiring my downpayment for my personal house and making personal mortgage payments from that LLC account. I am worried because I now know I should have used my personal account. What can I do to protect my limited liability and fix the errors?
July 12th, 2024
If I don’t claim any dependents on my W-4, will I still be able to claim them on my tax return at the end of the year?
November 28th, 2024
I did not get my refund for the 2022 tax year. What can I do to track or expedite the process?
June 10th, 2024
A 'C' Corporation sold its assets and paid its two stockholders bonuses and distributions from the proceeds. The distributions were made after the corporation's retained earnings were reduced to zero. Where should these distributions be reported on Form 1099-DIV, and how should they be classified as either dividends or capital distributions?
August 31st, 2024
How much federal and NJ state tax do I need to take from an inherited (non-spouse) IRA? Is it my federal tax bracket and 10.75% for NJ?
December 7th, 2024
I receive an inherited pension monthly from my deceased mother who lived in NY. I am 54 years old. Must this be declared on my personal income tax and is it taxable? Additionally, I live in Pennsylvania and file a personal earned income tax return for my Township (Roaring Brook Twp). How should this pension be treated for these local tax purposes?
March 8th, 2024