We are preparing year-end financial statements for an LLP entity. We need to know whether Members' Drawings in the balance sheet is an accumulative figure or not. For example, if Members' Drawings were 130K in 2010 and 400K in 2011, what figure should be used for 2011: 400K or the accumulative figure of 530K?

September 9th, 2023

What is the highest percentage of tax on capital gain for a non-resident alien person or an alien company, and how does it apply to short-term and long-term capital gains, rental income, and profit distribution from an LLC?

December 24th, 2024

How do I get a form 518?

December 27th, 2023

How can my parents set up a trust or other entity to take advantage of the $5 million estate tax lifetime limit expiring in 2012, where the money would be available but I would not access it until 2013, and how would this affect my tax reporting?

March 9th, 2023

With respect to qualifying scholarship programs, what is an example of a course of study that is of 'particular benefit to the employer'? I have a foundation that provides scholarships for a management training course for employees of credit unions. The course is given over a three-year period and includes various banking-related areas of study. The scholarship is limited to employees of credit unions, and no training courses are available for the employee to choose.

May 8th, 2023