I formed an LLC in October 2021 and received a request from the Texas Comptroller for a franchise tax annual report. I am unsure how to fill it out, especially regarding whether I owe any franchise tax and what period the gross annual receipts should cover.

December 8th, 2023

I need to sign up for the program that allows a specialist to prepare or review my return. I earn $100,000 from Kensington, and the remainder of my income is social security, a small pension, and interest totaling $65,572. My wife and I file jointly. Can I use the QBI for the entire $100,000 since I am below $326,600? What happened to my account from 8-10 years ago?

August 7th, 2024

As a dual citizen of Canada and the US living in Texas, do I need to pay tax on my OAS and Canada pension income, even though Canada did not withhold taxes on these benefits?

October 6th, 2023

I'm selling two houses and want to figure out options to cut down the tax liability. One house was acquired in 2010 for $490k and has been a vacation rental, now selling for $1,875,000. The other house was acquired for $425k, underwent a total remodel costing $700k, and is my primary residence, now selling for $2,100,000. What are the tax implications for these sales, and how can I minimize my tax liability?

January 16th, 2023

Does a foreign partner in an LLC, who is a nonresident alien and earns income sourced from outside the United States, need a US ITIN and need to file a ZERO US tax return?

February 26th, 2023