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Anonymous Member
Anonymous
(Medical) Hello. I'm in dire need of some advice. I made non deductible contributions to an IRA thinking I could easily convert it over to a ROTH IRA. So I did exactly that about 4 times last year. Unfortunately, I did not realize I would be subject to taxation since I have a...
Member's Profile
Jae Lee
Title: Senior Accountant
Company: SURKUS
(Senior Accountant at SURKUS) Hi, We have a formar officer who sold the stock options in 2017 so basically, we paid him 100k and he bought it for $500 back in 2015. What tax form do i need to use to file? I think 1099-DIV but not even sure what number box to use. Thank you for your help. Jae
Anonymous Member
Anonymous
(Accounting Manager) I am new (contractor) to this company and received a notice from the owner saying that an old 940 filing was delinquent. It is from 2016. The owner claims that the IRS also has the entity mis-represented as a "general partnership" even though it is a disregarded entity......
Anonymous Member
Anonymous
(Student) Hello, The situation I have is I want to move pre-tax funds (payment for services) from company A (I do not own) to company B (I do own) this is as simple as writing a check. As of right now company B is an LLC. My question is, if I deposit the money into the business...
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO at SBAConsulting.com) What changes have you made to your COA? What spending practices have you changed?
Anonymous Member
Anonymous
(Owner) Hi all. I am helping a family member who has been holding an investment property for many years in an s corp (bad, I know). Due to depreciation and the rise in market value, his basis is very low. He wants to get a commercial mortgage on the property but has been advised...
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO at SBAConsulting.com) What do you see as the fall-out to the company, business culture and the bottom line of not only your company but your favorite "meal" establishments?
Member's Profile
Yelena Sivaya
Title: Finance and Compliance Officer
Company: Advanced Combat Solutions Inc.
(Finance and Compliance Officer at Advanced Combat Solutions Inc.) Hey Guys, I have a question: I am filing a consolidated return for a small parent-sub group (both are c-corps). Do I have to necessarily file schedule O (form 1120) along with the forms 851 and 1122 in relation to the fact that it is a consolidated return? The schedule O is...
Adam Brown
Title: Student
Company: The University of South Dakota
(Student at The University of South Dakota) A client has spent a considerable amount on electrician expenses during there improvement project and the lighting is not permenently fastened to the building. would it qualify as a 179 expense?
Anonymous Member
Anonymous
(Accountant) Our company is in a state that has sales tax, while we often make sales to customers in states that don't have it. If someone were to place an order in a state that doesn't have sales tax, but drive to our location to pick it up - should they be charged sales tax?
Anonymous Member
Anonymous
(Owner) As a US-based online business, I have several employees living in the Philippines (citizens of Philippines). Are the wages I pay them considered to them to be US source income? Am I required to withhold tax at 30% for them? Am I required to file Form 1042 and Form 1042-S,...
Anonymous Member
Anonymous
(Sr. International Accountant) Does anybody know of what we might need to know tax wise related to doing work in Massachusetts? We are legal services related attorney firm. Thanks!
Anonymous Member
Anonymous
(Director of Finance) While it isn't currently my primary business, I did prepare taxes fro a couple of clients this year for a fee. We received back a letter from the IRS listing penalties and interest for not filing and paying on time despite the fact that my client did so via certified...
Srikanth lakshminarayanan
Title: SR.ASST MANAGER-FINANCE
Company: PANSONIC MARKETING MIDDLEEST FZE
(SR.ASST MANAGER-FINANCE at PANSONIC MARKETING MIDDLEEST FZE) I would like to have basic knowledge on VAT which is going to be implemented in UAE.
Member's Profile
H Singh
Title: Manager
Company: La Riviera Maya
(Manager at La Riviera Maya) Our website registered and operated out of US, lists oceanfront villas and condos that are located in Riviera Maya, Mexico. Some of these Villas and Condos are owned by Mexican nationals. Once we rent a property we collect the rental subtract our commission and remit the...
Member's Profile
Preawpan Soonsinbhai
Title: Accounting Manager
Company: Asset World Leisure
(Accounting Manager at Asset World Leisure) Company A, registered in New York state, need to pay mangement fee to the company outside US. Does company A need to deduct withholding tax from fee amount?
Christie Jahn
Title: CFO
Company: Prime Investments & Development
(CFO at Prime Investments & Development) Are most companies paying to a third party to report this next year? I'm curious how this is impacting companies or what steps you are taking now to be prepared for the reporting next year.
Anonymous Member
Anonymous
(Sr Accountant Assoc) While filing in march for Feb 2016 sales and use tax, the balance sheet for 2015 was used instead of the 2016. This caused an underpayment of the sales and use tax. Also and over payment of the battery tax occurred due to this error. As March was quarter end and we are now...
Member's Profile
Mark Linder
Title: VP Finance
Company: Performance Solutions
(VP Finance at Performance Solutions) We are an AZ based corporation.  We do not have a nexus in Washington state.  The tax "expert" at our outside CPA firm told us there is a new law that requires us to collect and report sales tax in Washington.  They told us that...