Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
Telephone Tax Refund Question
I posted this query in an earlier thread, but received zero responses. Here it is again: My wife and I have a zero income adult dependent son who does not live with us. We provide all of his funding...
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small business tax question
I am contemplating starting a small business in the USA, and would appreciate opinions on the tax and legal implications. The following (hi)story will best explain what I am intending to do: A friend...
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tax consequence of loan
Premise: I own stock in an S corp for many years. A stockholder/partner in the same S corp lends me money and I give my stock to that partner as collateral. I have 6 month term to either pay back loan...
 
IRA rollover
Speaking of IRA rollover, as Bill was, one of my clients got a notice from IRS wanting 10% on a distribution which was rolloved. there was a code 1 in block 7, so that is probably what piqued their...
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Expenses for environmental remediation deductible?
I used to own stock in a company that owns some environmentally challenged land. The company is coming after me for part of their remediation costs because I owned stock when the problem happened. (or...
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Consumer Price Index Calculations
I have a problem maybe you'll be able to help me.I have no idea of how the calculations work for CPI. I have a formula that takes the ground rental cost lets say $50000 then takes the cpi from 2001...
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CCH TAX NEWS for December 6, 2006
CCH TAX NEWS for December 6, 2006 FEDERAL NEWS Add-Ons Stalling Tax Extenders Bill NEWS Delaware --Corporate Income Tax: Tax on Bank's Interest Income Did Not Violate Commerce, Due Process Clauses a...
 
chairtable contributions of private company stock
does it work? can it work? Private corporations owner donated shares in it to charity. Charity (voluntarily ??) redeems shares for cash. Owner gets deduction for full value (mostly appreciation)....
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Medicare tax
We have employees who aren't subject to Medicare tax because they were already here when governments had to start contributing. We have one employee, though, who started in 1988, two years after the...
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Help find an accountant
Can anyone give me any tips on finding a good accountant to help me with my small business? I need to find someone that can actually help me save a significant amount of money. I have asked some...
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Excess Business cash at year end
I have small business (LLC) of which I'm the only employee but I do occasionally have some 1099 contractors do work for me. I've paid myself a market-rate salary but I've ended up with over $70,000...
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CCH TAX NEWS for December 5, 2006
CCH TAX NEWS for December 5, 2006 FEDERAL NEWS Interim Guidance Issued on Supporting Organizations, Donor Advised Funds and Private Foundations (Notice 2006-109) IRS Valuation Position Results in...
 
Another Charity Mileage Question.
This involves driving to extra-curricular events for (public) school. I'm trying to figure out how different sets of facts affect what is or is not deductible for mileage. Set #1: We drive our child...
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CCH TAX NEWS for December 4, 2006
CCH TAX NEWS for December 4, 2006 FEDERAL NEWS IRS Issues Guidance on Recordkeeping Requirements for Charitable Contributions Made by Payroll Deductions (IR-2006-186; Notice 2006-110) Existed over...
 
Internet sales and local sales tax
I am investigating selling some products on the internet which we currently sell in a brick and mortar in Norman, Oklahoma. I am aware that I will have to charge state sales tax on internet sales to...
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