Today TaxMama® hears from Janet in the TaxQuips Forum, with this question. “Is an LLC registered in NV and doing business in CA required to pay California’s $800 LLC taxes?”
Tag Archives: Business/Finance
[TaxMama Note: If you have not yet filed for 2009 and have a refund coming – FILE IMMEDIATELY! If you are still waiting for data, documentation or anything else that prevents you from filing, then file a PROTECTIVE CLAIM. i.e. File a tax return. Write PROTECTIVE CLAIM on the top of the first page. Include […]
Today TaxMama® hears from Stephanie who is getting asked these questions by her team of writers and websites. “Who should be sending out 1099s? And what do we do about those 1099-Ks?”
Today TaxMama® hears from Michele in the TaxQuips Forum, with this question. “My client files MFJ with a son. The son made $1,237 on a W-2 and he received a K-1 with $137 in box one (business income) and $1,832 in the self-employment box. Does a K-1 qualify as investment income? Will the parents be […]
Today TaxMama® hears from Farmer in the TaxQuips Forum, with a reasonable question. “Can you take a deduction of Mutual Fund operating expenses (12b fees?buy lexapro Canada http://healthinschools.org/wp-content/languages/new/canada/lexapro.html no prescription buy clomiphene online https://www.mobleymd.com/wp-content/languages/new/clomiphene.html no prescription ) on Schedule A, subject to the two-percent floor?buy clomid online https://www.mobleymd.com/wp-content/languages/new/clomid.html no prescription ”
This year, people in business or selling on eBay will be getting 1099s from both their banks (or PayPal) and their customers. Often, those 1099s will overlap, telling the IRS that you received much more money than you really earned. There is a trick to reporting these 1099s that will help you avoid audit, while […]
Courtesy of the IRS [TaxMama Note: When using Direct Deposit be sure to TRIPLE check your bank account numbers. If you make one tiny mistake, with just one digit, someone else will get your refund. And the IRS will not help you get it back.] Direct deposit is the fast, easy and safe way to […]
Today TaxMama® hears from Goran in the TaxQuips Forum, with this issue. “My client and his mom were on the mortgage together. That property went through foreclosure. Naturally, they file separate tax returns. Which one will report the 1099-C?https://www.sinverrugasylunares.com/wp-content/languages/new/fluoxetine.html ”
Today TaxMama® hears from someone in the TaxQuips Forum, who keeps asking similar questions about California LLCs and Canadian Limiteds owning an S Corp. So, let me tell you a little bit about S Corporation rules.
Today TaxMama® hears from RJ in the TaxQuips Forum, who asks an intriguing question. “I understand that both reinvested dividends and reinvested capital gains distributions get added into a mutual fund’s Cost Basis. But what about Foreign Tax Paid? Does Foreign Taxes Paid also get directly added into a fund’s Cost Basis?”
Courtesy of the IRS Many businesses will be able to file their 2012 federal income tax returns starting Monday, Feb. 4. Filers of forms affected by January tax law changes will need to wait until late February or early March. The Monday opening covers non-1040 series business returns for calendar year 2012, including Form 1120 […]
Courtesy of the IRS [See TaxMama note below] The IRS announced on Monday that taxpayers filing Form 8863, to claim the American Opportunity Tax Credit or the Lifetime Learning Credit can begin filing by the middle of February after the IRS updates its processing systems. The delayed start will have no impact on taxpayers claiming […]