How can I get a copy of my ITIN (Individual Taxpayer Identification Number) if I have lost the form and have tried calling the local IRS office without success?

September 26th, 2024

We own a business that accepted a $75,000 SBA EIDL loan. We will not be able to pay it back as we used all the money to help our customers and employees stay afloat and lost most of our personal savings. How do we go about defaulting in the least damaging way? We prefer not to go out of business but want to build up again. What can we do or how can we handle this with the SBA?

July 17th, 2023

How can I reduce my taxable income from a profitable business by using depreciation on another cash flow positive venture, considering I am not a real estate professional and will only be working as an investor?

August 15th, 2023

I'm starting a business that involves renting out vehicles on Turo or sharing profits with drivers on Uber or Lyft. All vehicles will be owned by my LLC. Which state offers the best insurance rates for this type of business, and what kinds of insurance do I need for Turo and Uber/Lyft?

July 24th, 2024

My wife and I moved from Nevada to Utah in 2019. We were asked to return to Nevada for the 2021-2022 school year. I have been renting a home in Nevada since September 2021 and will maintain this lease through the end of June-first week of July 2022. My wife has had major surgery and has not spent as much time here as I have. We also retain our house in Utah and plan to return permanently no sooner than the end of summer. I am wondering whether I have to file and pay Utah State income tax if I were to take out a Nevada driver license, which along with the rental should establish Nevada residency for me. My wife will retain her Utah citizenship and our current address, and be subject to the State's income tax. We also plan to leave the cars registered in Utah as they are in our names jointly (and Utah registration is cheaper than in Nevada). I have been paying into the Utah tax system all year. My question is two-fold: If I formally obtain Nevada citizenship before the end of this year, do I have to file a Utah return for 2021? And the second part, will I also need to file one when I return to Utah, either toward the end of this summer or even possibly in 2023, and get a Utah driver license?

January 20th, 2024