I am considering starting a Limited Liability Company for a business involving Automated Teller Machines. The business will involve cash transactions recorded on bank statements. What tax forms do I need to fill out to make my business legitimate, and what tax implications could I face? Are ATMs considered capital assets, and would it be better to use a third party for processing fees, which are deductible?

January 5th, 2023

Can I claim married on my W-4 now, even though I'm single, and then update it to Single when tax filing is due?

March 9th, 2023

Does using services like FastSpring and Apple's App Store constitute 'doing business in California'? If so, do I need to register my Delaware LLC as a foreign entity in California, and would their payments to me count as 'California source income' and be subject to CA tax?

February 6th, 2024

How can I find out if I owe taxes to the IRS and how much, especially if I've been told I may have won a contest involving a considerable amount and need to pay taxes on it before receiving the winnings?

October 26th, 2024

My daughter is married and the two of them own 2 houses, under a Joint Trust, in Maryland and Florida. She lives primarily in the MD house and he in the FL house because of job requirements. She now plans to relocate to FL and sell the MD house. What capital gains will result from the MD house sale (Bought at $190, on market for $480)?

November 17th, 2024