We have formed an LLP. The plane owner will capitalize the LLP with the aircraft. How should the transfer of title from the plane owner to the LLP be handled so sales tax is not charged by the state? Is there a special form to use in this case, as the normal title transfer forms only seem to apply to a situation where the aircraft is sold?

June 30th, 2024

I am about to be audited on Thursday. My accountant did not reconcile my bank accounts, and his profit and loss sheet does not match the tax return. He also did not file my taxes for October's extension. I am worried and don't know what to do. Can you advise me on what your opinion is?

February 1st, 2023

I made investments in a mutual fund for my granddaughter. Over the years, she has received 1099s for dividend reinvestments and tax has been paid on those. If she draws some of the balance for doctor bills, how do we determine the taxable portion?

June 13th, 2023

Can I deduct the funding of a new LLC from my existing S-Corp's pre-tax revenue for tax year 2018?

December 8th, 2024

I am living in the United States on a J1 visa and am a resident alien for tax purposes. My husband and five-year-old child live in China. What should be my status for tax purposes? Single or married? If I should be married, could I claim a joint return for this tax year?

August 31st, 2023