April H. asked
The IRS says I owe them $7,000 for capital gains on my 2013 taxes even though the gains were reinvested and I never received any funds. Do I owe this money?
September 27th, 2024
Debra M. answered
When you sell an investment, you realize a capital gain or loss, regardless of what you do with the ...
September 27th, 2024
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I invested $40,000 in a property management company PLLC in VA and signed an operating agreement. I do not work for the company and just invested for profit. What entity type of PLLC is advantageous for tax purposes, and is the return of my principal investment taxable?
December 31st, 2023
I have a client based in AZ with a product manufactured in CA, sold through internet sales. They need advice on sales tax and income tax filing requirements. Should they charge sales tax to customers in AZ and CA, and do they need to file an income tax return in CA?
June 30th, 2024
In 2014, I had a dropshipping business on eBay where I earned $63,249 in revenue but only $8,000 in profit. I received a 1099-K from PayPal and a letter from the IRS requesting me to pay $24,973 in income tax based on the reported revenue. How can I prove to the IRS that I only earned $8,000 in profit and that the rest was business expenses?
December 27th, 2024
What are the income tax filing statuses for me and my wife, and for my parents, given that I live with my parents, my father pays the mortgage, and I fully support my wife and kids?
June 6th, 2023
My LLC was originally set up in FL. Do I need to apply for a Foreign LLC in the state of NYC? Do I need to still keep an office in FL? I have moved to NYC.
December 5th, 2024
