asked
If I purchase a sole proprietorship franchise business, do I have to pay a self-employed tax rate or a standard individual tax rate? What tax bracket and rate do I fall under, and am I subject to potentially high self-employed tax rates like 40%?
September 19th, 2023
When I inherit land from my father which now has a cost basis of $150/acre, will I automatically get a stepped up basis and if so, how much? The land is worth $2000/acre currently. Also, is it advantageous to word the deed to 'transfer on death' to avoid probate costs?
May 19th, 2024
What is the maximum social security tax in a year?
April 25th, 2024
I live in Florida and plan to open a distributive company selling merchandise overseas, specifically to Ukraine, Russia, and Israel. I need to understand how sales taxes work, what reports I need to submit to the IRS, and how federal taxes are paid, especially since I am also a full-time employee.
November 7th, 2024
If I made $900.00 but no federal tax was taken out of my pay, and I have 3 children and am the head of household, what is my estimated tax refund?
June 12th, 2023
I have been a 30% partner in an LLC business for the past 4 years, and my partner has been unresponsive. We have agreed to dissolve the business, but I have no access to the books and the business account. I want to know if I have the right to collect my 30% distribution from the business account without my partner's consent, and how I can legally separate myself from the business to avoid future involvement.
June 16th, 2024