Will the equity section of an S-Corporation, which has Additional Paid-in Capital of $219,000 and Capital Stock of 1,000, have any of its components zeroed out when closing out the Assets and Liabilities?
September 3rd, 2024
For sales tax purposes in NY, should I consider the actual amount received from Groupon as my taxable income, not the gross amount reported on the 1099-K form? Also, can I pay sales tax annually for the period from January to December 2023 if my business qualifies? Additionally, for my 2023 taxes, should I report the income as the amount on the 1099-K and then deduct Groupon's commission as an expense? If I'm self-employed, can I deduct my own salary as an expense?
January 29th, 2024
I formed my LLC in December 2023, and there were no sales or income before January 1st. Do I need to file year-end taxes for the 15 days we were formed, and will we be required to file quarterly estimated tax payments this year?
January 6th, 2023
My tax return was returned to add my dependant's IP number. He doesn't have an IP number. What should I do?
January 12th, 2023
I received a letter advising me to file my 2020 and 2021 Form 1040 Federal income tax returns immediately. I am hiring a tax professional to help me do that. I always pay my taxes, sometimes late but, I pay them. I am ninety years old now. Do I have a couple of weeks? I need all the help I can get. I can send in an estimate payment now and send in the completed forms as soon as they are completed.
June 1st, 2023
Where can I find the CSED expiration date on this account transcript, and how many years of income taxes should be filed since the account holder never filed since 2014?
September 8th, 2023