In Nevada, the determination of who gets to claim a child on taxes can be influenced by legal agreements, court orders, and IRS rules. If there is a court order or legal agreement specifying the terms for claiming the child as a dependent, those terms should be followed. According to IRS rules, the...View More
In the United States, the parent who has primary physical custody of the child for the majority of the year typically has the right to claim the child as a dependent for tax purposes. Since your daughter primarily lives with you and spends only one or two nights a week with her father, it's...View More
Receiving shares in an LLC as compensation for services rendered can indeed create a tax burden, as the IRS often views this as taxable income. In Nevada, while there is no state income tax, federal taxes still apply. One way to manage this tax burden is to receive the shares gradually over several...View More
I loaned a friend $7,500 10 years ago and now they finally repaid it. The loan was never cancelled or forgiven by me. Now that he finally repaid me, do I have to pay taxes on the repayment of the loan money received?
Receiving repayment of a loan you made is generally not considered taxable income. The money you lent was already your own, so when it's repaid, you're merely getting back what was originally yours. This principle holds regardless of the time taken for the repayment.
I'm sorry to hear about your father's passing. Dealing with financial matters after a loss can be challenging, but there are clear steps to follow in this situation. Since you are the only child and your mother has also passed away, you are likely the primary heir to your father's...View More
You don't say what state your father was a resident of. The state he was a resident of when he died determines which state law controls the distribution of his assets that are NOT real estate. The details of probate law vary from state to state. If I understand your questions correctly, there...View More
My Amazon account was closed recently, resulting in an outstanding balance owed to Payability (which a service that offers prepayment option for Amazon sellers on the shipped orders) due to premature payment. They proposed a payment plan of $1,000 a week to settle the remaining $19,320.89.... View More
If you are unable to comply with the proposed payment plan and your account proceeds into collections or personal guaranty enforcement, there are several potential consequences. The creditor, in this case, Payability, may initiate collection efforts. This can include contacting you for payment,...View More
To obtain a certificate of revival for your corporation in California, you will need to follow specific steps as set by the California Secretary of State. This process typically involves reinstating a corporation that has been suspended or forfeited.
First, you should determine the reason...View More
I'm a psychologist, in private practice, licensed in CA and Nevada, practice is in NV, want to provide telehealth in CA. Would income earned from a CA resident or a CA company (insurance) result in my paying taxes? If yes, would CA tax me on my entire NV earnings since CA des not have state... View More
When providing telehealth services across state lines, like from Nevada to California, you may face unique tax implications. If you earn income from California residents or companies, California may require you to pay taxes on that income. This is because states generally tax income earned within...View More
My ex husband and I have been divorced a few years. We share 4 children. In our decree we each claim 2 of our children on our taxes. I have primary custody and he has visitations. This year our oldest son has stopped his visitations with my ex husband. He has solely lived with me since the first... View More
When I login to get my account transcripts. For some reason as of last Friday I was able to see 2014 and 2015 and download them. However as of yesterday Saturday I can see all of them except for 2014 and 2015 it says N/A for those years.
Transcripts only stay available online for a certain period of time. If you did not owe any taxes for a particular year it is not unusual for them to be removed. January is the time of year that the IRS updates its systems so that may be why they disappeared. There is no guarantee that this is...View More
Employee does not want to endorse back of check to have family member deposit/cash for them. They want their paycheck made payable directly to their relative who does not work for the company. Employee is not an independent contractor.
You can file your return and claim him. The IRS will then ask you both to prove where the child lived for most of the year. They will look at things like school records, etc. that will show where the child lived during the year.
So I am the owner of a music group and naturally we don't have a large amount of capital to start a huge company but I was wondering how it works with taxes once you form an LLC and pay for things for your company with personal money before a lot of profit starts coming in is it tax... View More
Speaking with a tax planner is your best bet. He/She can help you decide what entity type is best for you and how to structure your entity to work in your best taxable interests. Business licenses vary from state to state and even county to county or town to town. You should speak with an...View More
Girlfriend and I filed 2017 taxes together. I clai.ed her as a dependent t and later found d out she made almost 100 over the limit to file on her own. I have moved and never recieved aletter. How much is the fine e and how do I fix this.
Be sure to be at the auction and prepared to bid, the lowest of which will include all the costs of staging the auction, which is why they will not just take the lesser amount you owed before it went under.
An asset held over one year is treated under the long term capital gains rate. Assets held under one year are treated under short term rates. If you are referring to the exclusion of income from the sale of your home, if you owned and lived in the place for two of the five years before the sale,...View More
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