I am an owner of a single-member S-Corp (IT consultant) and a multi-member LLC (Transportation Domain). I haven't paid myself any salary from my S-Corp this year and expect a net income of $100k. I also need to contribute $40k from my S-Corp to my multi-member LLC for a capital investment (buying a truck). What is the best way to handle payroll, 401k contributions, and the transfer of funds for this investment, and how does Section 179 and bonus depreciation work in this context?

August 20th, 2023

We bought our property in 2020, which consists of two 2.4-acre lots with one house. Our mortgage company changed hands, and we sent payments to the new mortgage company. We recently received a notice of delinquent taxes on the other parcel we own. The current mortgage company claims they knew nothing of the other parcel, which is clearly stated on our deed from the original mortgage holder. We were paying enough money originally to cover everything. Now the county says they are taking the property due to delinquent taxes. What should we do?

October 14th, 2024

What would the late fees be on Form 990 if it is due today and still pending, with gross receipts of $279,000?

March 27th, 2023

My identity was stolen, and my identifying information, including my SSN, was divulged. I am concerned that the thief could access my IRS tax return information. Should I notify the IRS, and if so, how?

August 18th, 2024

I have $50,000 in an IRA and will receive $1,450.00 a month from Social Security starting next year. Will my IRA prevent me from getting Medicaid or SNAP in Indiana?

January 13th, 2023