I came to the USA on 10th March 2013 and stayed here till the end of 2013. My wife stayed abroad the entire year. We are considering using 6013(g) election to file married filing jointly and include my non-resident alien spouse in the joint return. As I was a non-resident at the beginning of the year and became a resident starting 10th March, do I need to include a separate 6013(h) election statement, or would just the 6013(g) election suffice?

March 12th, 2023

My dad is 87 and receives $15,504 from social security and $12,603 from pension. This year, he had $3,112 in capital gains from a J.P. Morgan Investment account. Does he have to file a tax return?

May 27th, 2024

If I close my business, will the IRS pursue failure to file penalties for late filing for tax years 2013 through 2017, even though all taxes have been paid?

October 16th, 2023

If I take $1,000,000 from an investor at a pre-money valuation of $4,000,000 and the convertible note converts in 12 months, with the investment offered at a discount of 20% of the price per share of the new preferred stock sold in the equity financing or a valuation cap of $5,000,000, how much stock does the investor get? If the company has 100 shares, would the investor get 25 shares because their investment was based on $4M pre-money, or 20 shares because the post-money valuation was $5M, or something else?

February 1st, 2023

What are the main differences between S-Corps and C-Corps in terms of taxation, and what are the tax savings with an S-Corp?

May 1st, 2024