asked
I want to incorporate my existing sole proprietorship as an LLC, apply to be taxed as an S corporation, and then set up a self-directed 401(k) in the name of my LLC. What is the correct order to do these steps, and what are the appropriate steps to accomplish each?
June 21st, 2024
I am a US citizen and pay US taxes my whole life. For the last 30 years I have lived in the US and consulted on projects outside the US. Since 2010, I am living in Bangkok. I work as a consultant in many countries but not the US. I now have a project in Jakarta. Jakarta requires form 6166 from the IRS stating I am a US resident. I do not have a domicile in the USA. The IRS are asking me if I am a US resident and the form they want me to sign is "under penalty of purjury". Do I say yes and sign the form? Am I still legally a US resident (as a US citizen) even though I do not have a US domicile?
November 20th, 2023
How much income tax do I have to pay on a partial surrender of a life insurance policy? I am going to receive a partial surrender amount of $11,000 and my annual income is around $30,000. Should taxes be withheld now, and if so, what percentage should be withheld?
August 21st, 2024
As a self-employed Realtor in Washington State, what expenses can I write off for tax purposes, and what forms do I need to file?
February 3rd, 2024
I am turning 65 in January 2019 and have applied for Medicare Part A and Part B online. My permanent address is in Kansas City, MO, but I am temporarily living in Durham, NC due to medical issues related to a car accident. When filling out Part B, I entered my Kansas City address as my mailing address but was unsure how to answer the question 'Are you living at this address?' I contacted the Social Security Administration (SSA) and received conflicting advice on whether to use my Kansas City or Durham address for my current place of residence. This decision affects my ability to obtain Part D and Medigap coverage. I am concerned about how changing my address on the SSA website might affect my legal state of residence, including tax obligations, voting, driver's license, and license plates. How should I handle my address for Medicare purposes, and will changing my address on the SSA website affect my IRS status or state residency requirements?
December 24th, 2023
I noticed a $48.00 deduction from my checking account on approximately August 28th, but I have not used PayPal. I tried to change my password around the date of the deduction, which is the only activity I recall. What could be the reason for this deduction?
December 8th, 2024