Can a single member LLC convert its member's interest into a note to generate interest income for the individual, who is the single member, for the purpose of utilizing carryforward investment interest deductions on Schedule A of his 1040 while also using the interest expense on the LLC's Schedule C?

September 9th, 2023

My father has developed Alzheimer's during the past year. I have filled out his taxes for 2011, but he thinks he filed a tax return for 2010 but cannot find a copy nor knows any details. How can I find out if he filed a return for 2010 and if not, what is the remedy? What should I do and what might be his penalty? Also, do I sign his taxes for this year or have him sign them?

October 13th, 2023

I am a 1099 worker and my main client wants to bring me on as a W-2 employee. I need to know what salary to ask for that will match what I'm making now. How do I accurately compare my current 1099 compensation to my potential W-2 compensation for salary negotiation purposes?

May 3rd, 2023

My brother, a foreign national living in Germany, sold his share of a US property to me at a loss, resulting in a 15% withholding tax. What form(s) does he need to file to get a refund, and how does this relate to the withholding tax return I filed (Form 8288)?

October 9th, 2024

I am a US company paying individuals living in Mexico for professional services. Do I have to pay foreign taxes, and if so, how much? I understand there is a tax treaty between the U.S. and Mexico.

July 12th, 2023