I am an American living in Central America, working as a business consultant with American clients. My wife, a foreign national, established a Belize corporation which then opened a Florida LLC. I receive payments from clients into the LLC's bank account, which is a pass-through entity for the Belize corporation. My wife pays me a salary, which I plan to declare on my tax return, keeping my income below $100,000 to avoid U.S. tax obligations. Is this structure legal and can it avoid IRS scrutiny for tax avoidance?

September 17th, 2023

I need to obtain a copy of our corporate CP-575 form that authorized our new corporation to use tax ID 26-0019799 for Facchiano & Associates PC located at UE 265 Cherryvale Mall, Rockford, IL 61112. How can I get this form or an alternative verification?

November 14th, 2024

I am an immigrant who got my green card in 2008 and came to the US with an F1 visa in 2005. I have sold my home in Egypt, which my parents bought for me when I was a kid, and transferred the proceeds (valued between $80,000-100,000) to my US account. Do I have to pay taxes on that money, and how should I determine the basis and gain for tax purposes?

October 26th, 2023

Can I deduct wages I paid myself on Schedule C as a sole proprietor?

February 4th, 2023

I sent a subcontractor a 1099-MISC in January and I am filing my taxes online, but I am not sure what to do with the red 1099 and 1096 forms that need to be sent to the IRS.

October 4th, 2023