Tag Archives: Tax Planning

Transfer S Corp to Trust

Today TaxMama® hears from Todd in the TaxQuips Forum who is looking to the future. “I am transferring ownership of a sub-chapter  S corporation from myself to a family trust. I have a question on IRS form 2553, in part K, where I need to list both former and current owner of the corporation. Since […]

Form 1045 NOL

Today TaxMama hears from Marvin in the TaxQuips Forum who needs clarification “On Form 1045, where I can carry net operating losses back for up to five years, in what order do I do that? Do I start with the 5th yr, then the 4th yr, then 3,2,1? Or do I start with the most […]

Self Employment Surprise

Today TaxMama hears from Alyssa in the TaxQuips Forum, who is surprised. “I am a small business owner, a personal chef. But I also work for a catering company. Even though I made less this year on my adjusted gross income then last year, I owe $1,300; while I paid $200 last year! Could it […]

One Business or Two?

Today TaxMama hears from Paula in the TaxQuips Forum, who has a question. “We have one “established” business that has been in operation since 2005.  In 2010 we started a new business (another S Corp) and our first business funded the start up fees and expenses for the new business in 2010.  The new business […]

Getting Married Now or Later

Today TaxMama hears from Robyn in the TaxQuips Forum, who needs to make a decision. Essentially, it boils down to should my boyfriend and I get married this year or not, in order to get the best tax advantage. They have a child together – and one that is just hers. Read the details here. […]

TaxMama’s Tax Roundtable – November Session

Note:  TaxMama’s Tax Roundtable is a monthly live discussion open to all TaxMama Family Members and above, and all TaxMama’s EA Exam and Solving the Tax Puzzle Students. Don’t you wish you were here? REPLAY today’s session below – you can listen and SEE the session and forms It will load slowly…perhaps  slowly. But it […]