asked
We are an LLC located in Oregon (no state sales tax). We hire contractors to perform work throughout the US in almost all states. Some contractors charge us sales tax (per their state) on goods and services, while others don't and indicate we are 'out of state tax exempt'. For example, in Texas, some contractors charge us sales tax while others don't. Should we be paying sales taxes or not?
February 2nd, 2024
I've just set up an S Corporation for e-commerce. I'm told I have to pay myself a salary. Do I have to document that amount anywhere and what if I don't make enough money to cover the salary? I've read that it needs to be deferred, how is that done? If I'm not making enough to pay salary but I still need to take money that has been made to be able to pay bills - can I do that as a distribution?
December 11th, 2023
A person dies in January 2008. They had a Power of Attorney (POA) prior to dying and a will that appoints a different executor than the POA. Is the POA responsible for the 2007 Federal Tax Returns? Is the Executor only responsible for the 2008 federal tax returns?
March 22nd, 2024
I received stimulus payment forms in the mail for myself and my two daughters. I receive Social Security disability benefits and my daughters receive death benefits. I filed a 1040A with TaxAct.com based on our combined benefits, but I haven't received payment instructions for my daughters yet. I was told to file an amendment form, but I was confused and called the IRS. They said I filled out the form correctly but I might not be entitled to any rebate because our combined income is below the amount allowed to qualify for the rebate. Why am I not entitled to a rebate? My Tax Act account also says my rebate refund is -0-. What am I doing wrong and what should I do?
August 3rd, 2024
After the U.S. Estate Tax has been assessed on the decedent's estate, do beneficiaries who are residents outside the U.S. and file a tax return including Form 2555 and claim Foreign Tax Credits on Form 1116 have to pay any Inheritance Tax on inheritance income they receive as a result of the execution of a decedent's will?
March 31st, 2023
I was recently informed that I needed to refile for homestead after a certain age, which I did not know about. My husband and I are 74 years old and have been paying taxes on our property for years when we did not have to. We are now receiving threats of foreclosure. What can I do about this?
January 3rd, 2024