If I'm selling a business (a going concern) and file in several states, what are the legal and tax implications for withdrawing from the states with the Secretary of State, especially in the case of an LLC or a corporation in North Carolina, and how does this process change if the sale is mid-year and the company plans to keep the name for a period of time?
December 5th, 2023
I am a USA citizen and want to start an LLC with my friend who lives in Russia. My friend was born in Russia, moved to the USA, lived there for 7 years, and still pays a mortgage. He has been back living in Russia for the last 3 years. Do we have to pay income tax quarterly and withhold up to 35 percent?
October 13th, 2023
I am located in Italy and my business is a USA LLC with a partnership of 2 partners. We are applying for an E2 visa to move to the US temporarily to run our business, which is our primary market. We will face expenses such as lawyers, filing fees, and creating a business plan. Can these costs be included and deducted as business expenses when I file my business taxes?
July 25th, 2024
If I sell my home in California in order to move into assisted living, do I have to pay California capital gains taxes?
December 14th, 2023
I invested in Bitcoin with 9 friends through a single account in my name in 2017. I now have the highest tax rate, and it would be unfair for others to shoulder my tax burden if we liquidate. Is there any problem with gifting the Bitcoin with the expectation to receive cash proceeds? My understanding of IRS rules is that a gift is only that if nothing of equal value is received in return. In this case, X Bitcoin is gifted, but the value of X/10 Bitcoin is returned in cash to each person.
April 21st, 2023
I have Series I bonds worth $10,000 that I used for education, but my modified adjusted gross income exceeded the applicable dollar amount by $30,000. Will they exclude some of the interest, and if so, how much?
January 19th, 2023