I am opening a new business as a sole proprietor in California, selling printed material that is sometimes taxable. I need to collect state sales tax and will be purchasing from trade printers, supplying them with a W-9. My questions are: Do I need a special state ID to collect taxes? Will I need to send 1099s to my suppliers at the end of the year? If not, should I use my SSN or get a FEIN for my W-9?

May 26th, 2023

I sent a Payment Installment agreement when I sent my Tax Returns. Now they send me a letter with a 'FAILURE TO PAY PENALTY' of $18 and 'INTEREST CHARGES' of $10.58, and tell me to pay by the end of June to avoid more interest. Do these charges mean that they didn't receive my Installment Agreement? Or, even with the Installment Agreement, do they still take interest charges until balance paid in full?

May 11th, 2023

On form 1099-OID, I have an amount of $55 in box 8. When I enter it in my tax software, it comes up as a negative number instead of a positive number. Is this correct?

April 16th, 2023

I need to fill out an IT-2104 form as an international student who is a junior in college and is taking an internship in the US for the first time. I am single and would like guidance on how to complete the form.

July 13th, 2024

How can 50/50 shareholders of an S corp take different distributions of income and not have tax implications that are different than the actual amount taken? Specifically, can unequal distributions be structured as loans or payroll advances, or must they balance out to 50/50?

October 3rd, 2024