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We never received our tax refund. We were told the amount we would get and the amount that would be applied to our 2021 taxes. We filed last year electronically with Portney and Company in NJ, but we need a PIN to file again electronically. Can you help me figure out the status of our taxes?
September 29th, 2024
I was paid twice for the same invoice from a company, and they said they don’t want the money back. If I keep the money, will I incur some sort of IRS penalty, and what would be the exact name of the violation? Additionally, would it be a tax code violation on the part of the company for their negligent bookkeeping, and what penalties might they face?
September 24th, 2024
I own rental property in Manatee County, Florida, where I rent for 4 months. I reside in Iowa. Am I subject to sales tax on this rental?
May 13th, 2024
A client received $80,000 from life insurance disbursement reported on a 1099-MISC as other income. Does she have to pay taxes on this amount, and how should it be recorded on Form 1040?
February 7th, 2023
We converted a Californian S-corp to an LLC to allow one of the partners to leave the USA. This was done without an F-reorg. Do we need to pay both Federal and California CGT on gains in asset value? Additionally, would we lose federal QSBS opportunities due to the restructure?
November 3rd, 2023
I'm the owner of an LLC taxed as an S Corp and do accounting on a cash basis. In 2021, I made payments classified as distributions and overdid it, resulting in my expenses exceeding my revenue. I'm concerned this might flag an audit when I file my taxes. The cash was available for the distributions at the time because I didn't pay any payroll taxes until 2022. How can I rectify this situation and avoid potential audit flags?
April 6th, 2024