Lawyers, Answer Questions  & Get Points Log In
Florida Tax Law Questions & Answers
1 Answer | Asked in Tax Law for Florida on
Q: Does having a student loan affect whether I file taxes while on SS?
Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jan 16, 2020

This question makes no sense. Just let me say this: everyone in America is supposed to file a federal tax return if they have income over $600. This includes people on Social Security. Having a student loan is irrelevant.

2 Answers | Asked in Social Security and Tax Law for Florida on
Q: I am 67 years old living on Social Security. I was not filing Income taxes. I have an outstanding student loan.
Andrew M Steiger
Andrew M Steiger answered on Jan 16, 2020

What is your question? If it is whether you have a filing obligation, that depends on how much Social security you are receiving.

View More Answers

1 Answer | Asked in Tax Law for Florida on
Q: I just became an independent contractor. I read somewhere I only file state taxes if my income is minimum $400?

What about sales tax reporting? When and how do I do that? Read about reporting something quarterly. Is that if I make more than $400 yearly. I'm purchasing baby equipment to rent to traveling families. I use the company BabyQuip as platform and use their insurance. They only give a 1099 form to... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jan 15, 2020

The empty feeling you are experiencing is caused by fear of making big mistakes that will adversely affect your new business.

Why not contract with an experienced Florida lawyer to be general counsel to your small business NOW-before the state taxing authorities come calling?...
Read more »

1 Answer | Asked in Tax Law for Florida on
Q: Apart from the initial investment in Sunset LLC, does Danube Inc report any of of Sunset's balance sheet items?

Florida: Sunset LLC has one member; a corporation Danube Inc. Danube Inc. has 2 members: a husband and wife. There is an operating agreement between Sunset LLC and Danube Inc.

All taxable income are earned by Sunset LLC only. All fixed assets are owned by Sunset LLC. All expenses... Read more »

D. Mathew Blackburn
D. Mathew Blackburn answered on Jan 14, 2020

Hire a professional.

1 Answer | Asked in Tax Law for Florida on
Q: An LLC has a single member which is a Corporation. What federal taxes am I filing? 1065 for LLC and 1120 for Corporati

State is Florida. The Corporation has 2 members...husband and wife

I think the LLC would be a pass through entity....so do I still have to do a federal tax filing for the LLC?

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jan 10, 2020

You forgot to mention the most important fact: which entity is earning taxable income? (Note: Once that fact is known other important questions arise. That is why you desperately need professional advice and assistance.)

1 Answer | Asked in Immigration Law and Tax Law for Florida on
Q: switching from S-Corp to LLC under E2 visa

Hello, I have an E2 visa and live in FL. My business is an S-Corp and I wish to close or transition it into an LLC, as the taxation featured of LLC suite my needs more than S-corp. Am I legally allowed to make this move without compromising my visa status? I own 100% of the business and just want... Read more »

Svetlana Kats
Svetlana Kats answered on Dec 27, 2019

Hi there! Changing your company's tax status from s corp to LLC will not affect your immigration status. Just make sure that your ownership in the company does not change.

1 Answer | Asked in Tax Law for Florida on
Q: 1. We are 80+ age receiving SS. If we start new income over $100,000/yr will that reduce our SS? 2. Coins taxable?

Are coins (Gld & Sil) subject to capital gains?

D. Mathew Blackburn
D. Mathew Blackburn answered on Dec 25, 2019

It won't reduce the SS but it will make more of it taxable.

Coins and other collectibles are taxed at 28%.

1 Answer | Asked in Tax Law for Florida on
Q: If you lie on the WOTC about being unemployed, does that count as tax fraud?
D. Mathew Blackburn
D. Mathew Blackburn answered on Dec 6, 2019

Yes

1 Answer | Asked in Tax Law for Florida on
Q: Is a sole proprietor in FL required to pay use tax on imported goods intended for resale or as raw materials?

I am a sole priprietor in FL. I import sharpening stones and supplies from China. I do some processing (grinding and polishing) and sell them as sharpening sets on Amazon via their FBA (fulfillment by Amazon) membership program. I pay customes duties on all import. Am I required to pay use tax on... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Dec 5, 2019

This is a very important tax question best answered by your CPA--rather than asking lawyers/strangers here on Justia.

1 Answer | Asked in Tax Law for Florida on
Q: Hi, I wanted to know how true this is post?https://forum.leasehackr.com/t/commercial-leasing-for-companies/11701/16

Basically this guy is claiming that you can write off a car lease 100% as a business expense assuming the lease is made under the business name and as long as you create an agreement between you and your company stating that if I cover the cost of maintenance, insurance & upkeep, then the company... Read more »

D. Mathew Blackburn
D. Mathew Blackburn answered on Nov 11, 2019

No.

First of all it doesn't matter what sort of agreement you have the IRS will look at what actually happened This is called form over function.

Second, your personal use of the vehicle is taxable as a wage or a guaranteed payment depending on the entity.

The correct method...
Read more »

2 Answers | Asked in Tax Law for Florida on
Q: How would I determine the tax basis for a beach cottage that I inherited 20 years ago?

Would I have to hire an appraiser who does retroactive appraisals? Could I just guess based on comparable sales?

D. Mathew Blackburn
D. Mathew Blackburn answered on Nov 10, 2019

Historical appraisals and comps from the date of death.

View More Answers

2 Answers | Asked in Tax Law for Florida on
Q: I received an under reporting notice for my 2017 taxes. I was never paid a dime by the company that issued it.

I was sent an income under reporting notice by the IRS for my 2017 1040. The 1099K was reported to IRS from a credit card processing company I never did business with. I called the company and they admitted I had no account with them. The EIN on the 1099K belongs to a former payor. How do I fix... Read more »

D. Mathew Blackburn
D. Mathew Blackburn answered on Nov 8, 2019

They should issue a corrected 1099. If they won't you'll have to appeal and then file in US tax court and subponea them.

View More Answers

2 Answers | Asked in Estate Planning, Tax Law, Bankruptcy and Elder Law for Florida on
Q: Hello, my mom and dad are on SS. It is their only income and they live in Florida.

Due to health problems they are having financial difficulty. They have a bank issued credit card with $24,000 in debt. I've read that the bank can't touch their SS but my question is can they come after other assets like their house which they have a mortgage on or their car which is the only car... Read more »

Timothy Denison
Timothy Denison answered on Nov 5, 2019

Yes. They can come after their assets such as their house and car, although they would be secondary to the mortgage holder on the house and the note holder on the car.

View More Answers

1 Answer | Asked in Business Formation, Business Law and Tax Law for Florida on
Q: Should I charge sales tax for my courier service? I pick up and item from one location and i deliver it to my customer.

No labor involved. I'm a middle man delivery service.

D. Mathew Blackburn
D. Mathew Blackburn answered on Oct 28, 2019

Generally if you're not paying for the item and re-selling it you don't collect the sales tax.

You'd have to check your state, county, and city to be sure.

1 Answer | Asked in Tax Law for Florida on
Q: What actions activates the law initiating a tax liability for our actions at work of a Private enterprise ?

Congress defined a Public Office in Section 7701(26) as one that doesn't include the words of a "private enterprise." The 78 Congressional Record's recorded testimony of F. Morris Hubbard's (senior legislative draftsman of the Treasury Department) explanation in front of Congress in 1943 Volume... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Oct 23, 2019

Rather than trying to "prove you wrong" I would rather invite you to attend the next meeting of the Sovereign Citizens of America, Inc., to be held in the City Hall in Lubbock, Texas, on all hallows eve (called Halloween in some places). I will be standing in the back, watching and listening.

1 Answer | Asked in Tax Law for Florida on
Q: What resources do you use to research tax laws?
Terrence H Thorgaard
Terrence H Thorgaard answered on Oct 23, 2019

It depends.

For federal taxes, I would start with the Internal Revenue Code and the regulations enacted pursuant to that. You might go to IRS.Gov to see what is available there. The IRC is also a part of the United States Code (Title 26), available at various sites online. And then case...
Read more »

2 Answers | Asked in Tax Law for Florida on
Q: I live full time in Florida. My pension is from Michigan. Do I have to file Michigan state taxes on my pension?
Terrence H Thorgaard
Terrence H Thorgaard answered on Oct 22, 2019

Your question is really one of Michigan Law, not Florida. So you should ask it in Justia › Ask a Lawyer › Michigan › Tax Law ›.

View More Answers

1 Answer | Asked in Tax Law for Florida on
Q: I took money from my Roth IRA to purchase a home. I am 53 and paid a 10% penalty. I did not claim as income on taxes,

I am now receiving a bill from IRS as they added it as income. It was 16k and with penalties and such total 6100.00 I appealed it and they want me to sign a form stating they will add to my income and tax appropriate. I think this is wrong. What do I do?

D. Mathew Blackburn
D. Mathew Blackburn answered on Sep 30, 2019

You may not be responsible for tax or the penalty.

You should hire a professional yesterday and file an appeal.

1 Answer | Asked in Tax Law for Florida on
Q: Can a 501c3 sell item like Tshirts without paying sales tax by claiming the money is a donation?

Our nonprofit rents space to 12 step groups. One board member wants to raise funds by selling key chains, shirts, etc at AA and NA meetings. He is claiming the exchange of merchandise for cash would be a donation. I disagree. I think he is selling and we have to pay sales tax.

Terrence H Thorgaard
Terrence H Thorgaard answered on Sep 19, 2019

You are correct. If it were really a donation, the buyers would also be able to get the items "sold" for nothing (i.e.: free).

1 Answer | Asked in Tax Law for Florida on
Q: What percentage of US tax do i pay on a foreign capital gain?

I am selling a property in a foreign country, Peru. I am a citizen of peru but have been living in the US since 2000, became legal resident alien on 2019. Property has never been rented. How much tax will i have to pay on a 95k capital gain, approximate percentage?

D. Mathew Blackburn
D. Mathew Blackburn answered on Sep 13, 2019

20%

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.