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Is There Any Way To Minimize The Capital Gains Taxes We Would Have To Pay?

William Keats
Tax Professional Level: Master Tax Advisor

I do not think there is any way to minimize the capital gains tax upon sale. After all, you state that after 45 years there is not much basis left, if any. The depreciation taken will have to be added back as... Read More

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Property, Sales & Use Tax

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My Company Is Regularly Audited However, The IRS Has Never Asked About Our Transfer Pricing. We Have Significant Intercompany Transactions...

William Keats
Tax Professional Level: Master Tax Advisor

I am not familiar with Transfer Pricing, and suggest you contact a tax attorney or CPA. Read More

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Audits

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Can We Claim My Wife's Family (Mexican Citizens) As Dependents On Our US Federal And California State Taxes If We've Sent Them Money...

William Keats
Tax Professional Level: Master Tax Advisor

I do not think you can claim your wife's family as dependents. Read More

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Dependents Individual Mexico

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What Is The Best Way To Allocate Headquarter Expenses To The Subsidiaries Outside The U.S.A.?

William Keats
Tax Professional Level: Master Tax Advisor

The easiest way is to apply a formula on the basis of each subsidiary's sales to the total corporate sales. This is probably the most equitable process. Another possibility is to base the total headquarter... Read More

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Allocation of Expenses Expenses Foreign Subsidiaries

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What Are The Estimated Tax And Tax Return Filing Requirements For Taxpayers Earning Income As An Independent Contractor And Should I...

Robert Ferguson
Tax Professional Level: Tax Enthusiast

As an independent contractor without an LLC or S corp that your earnings are being paid to, you are most likely to pay a higher amount of tax as a result. The LLC not only offers greater liability protection but... Read More

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Estimated Taxes Independent Contractor Limited Liability Corporation (LLC)

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My Corporation Is Expanding Into Asia And Europe. What Type Of Holding Company And Entity Structure Will Result In The Lowest Possible...

Abraham Itani, CPA
Tax Professional Level: Tax Enthusiast

without knowing much of the necessary details, currently corporate tax rate is the highest and personal income tax rate is lowest. However, that is liable to change with the push to increase individual with high... Read More

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GAAP Holding Company Worldwide Effective Tax Rate

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If I Have Bank Accounts Or Other Property Outside The U.S., What U.S. Reporting Is Required To Be Fully Compliant With All U.S. Laws?

Abraham Itani, CPA
Tax Professional Level: Tax Enthusiast

Basically you would have an FBAR filling requirement if the aggregate sum of your accounts exceed US $10,000 at any point in time during the year, you might have FATCA reporting too. The other property need to... Read More

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Bank Accounts Property U.S. Reporting

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How Long Can I Stay In The U.S. And How Much Income Can I Earn In The U.S. Before I Have To Pay U.S. Taxes And File U.S. Tax Returns? How...

Chuck Heyde, CPA, CGMA
Tax Professional Level: Tax Wizard

Hope you are still out there. I just got this question. It is more a matter of how much income you earn than days spent in the US that generates the filing. (Albeit days are important.) If you earn more than... Read More

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Double Taxation Expatriate Inpatriate US Income

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My Company Purchased An Office Building About 45 Years Ago For $5,000. The Company Is A Sub-chapter S Corp So Everything Flows Through To...

William Keats
Tax Professional Level: Master Tax Advisor

I do not see any way around minimizing the capital gains tax on the proposed sale of the building. Read More

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Capital Gains Real Estate Tax Subchapter-S

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Under The New FATCA Regime, Will Gross Proceeds From The Sale Of U.S. Securities Be Considered A "withholdable Payment"? If So,...

Abraham Itani, CPA
Tax Professional Level: Tax Enthusiast

FATCA addresses foreign accounts and the withholding responsibilities of foreign financial entities. Your question talks about US securities, are these US based securities or securities of US companies held by you... Read More

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FATCA Withholdable Payment Withholding Requirement

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