asked
If I prepare and submit original IRS tax returns and the corresponding California tax return after the IRS OIC (Offer in Compromise) is accepted, would that create a problem with the accepted OIC, especially if the prepared returns show less net income than the SFR (Substitute for Return)?
May 24th, 2023
Is the lead generation structure for my small business solid, where I provide raw leads to my colleagues via Keller Williams|FergusonGrant Real Estate with the following commission payout structure upon successful closing: $000.0 - $200K = 20%, $200.1 - $500K = 25%, $501.1 - $750K = 30%, $750.1 - $1M = 35%, $1.001M - $2.0M = 40%, $2.001M+ = 50%?
March 23rd, 2024
I was laid off from work and bought two existing franchises last year for a total of $400k, owner-financed with a down payment of $160k from my 401k and retirement fund using ROBS. My questions are: 1. How do I classify the $160k down payment? 2. Can I use the interest on the loan from the sellers as a business expense?
September 7th, 2024
If someone sold a single family rental property in 2018, what opportunities in opportunity zones are there, what needs to be done to defer the capital gains tax and until what date does the person have to invest in one of these zones?
August 28th, 2024
Does the IRS send 1040 letters to the same person from different locations, and what do the CP504 and LTR2626C notices indicate?
December 8th, 2023
I originally sent in my tax return electronically on March 27th, 2007 for both my wife and I. We were told we would first get our return by April 10th, 2007, but then received a message 1301 and a letter 12C requesting additional information. I provided the requested information on April 24th, and now I am getting code 1481. What does this code mean, and do you think they are going to hold her return up again? I have never heard of a return being received on a Tuesday.
August 9th, 2024