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Most Businesses May Take Advantage Of Expanded Loss Carryback Option Under New IRS
Most businesses may use losses incurred during the economic downturn to reduce income from prior tax years, under a revenue procedure (http://www.irs.gov/pub/irs-drop/rp-09-52.pdf) issued today by...
Filing to receive overpayment of past income tax after 501c3 approval
I am confused as to which form to use for this scenario. In FY 2007, corporation filed Form 1120 and paid $1286 in fed income tax (based on $8576 in taxable income). Subsequently, in 2008, received...
retained earnings
We are a small C corp with sales less then 4 million I have 2 questions
1. Are we able to use the "CASH" method for accounting for our corporate taxes
2. It has been advised to us to begin to set...
Filing a Non-Profit or a For-Profit Federal Tax Return
A Condo Homeowners Association organized as a non-profit corporation in North Carolina chooses to file a For-Profit Federal Tax Return. The HOA operates on a Fund accounting basis with an operating...
Withholding on Lottery Income
A tax-exempt organization won a large prize in a lottery. How do they avoid the automatic withholding of tax on their winnings?
Operate part time LLC and receive unemployment?
First, sorry for the long post, but I just want to be as clear as possible.
I am really confused about an unemployment benefits issue after talking with a friend and he has me freaked out. Here is...
How to fill out Self Employed Taxes?
I live in Pennsylvania, USA and I like to start a little home business. First I'm in the process of trying to figure some things out before I jump in and sell my crafts. The one thing that no one can...
amendments
When I filed this year my son had not received his disability he was approved today can I still amend my taxes this year? He lives at home and is our dependent but he had not received an award letter...
Partnership LLC startup costs, no revenue yet
Is it possible to deduct misc. startup expenses, organizational costs, and fixed asset depreciation for 2009 tax return if no revenue is expected until 2010? Will this be a red flag?
How long Do I have to file?
Hello,
I live in Calif, and work as a contractor. I recently was sent a notice from the state that I needed to file my 2006 return. They then sent me a notice to pay where they figured out my...
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