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A LLC Single Member Can Make Election To Tread As S CORP When The Owner Of The Business Are Nonresident Alien ( Not USA Citizen Or...
User Photo Steven Meyerson
Tax Professional Level: Tax Enthusiast

The LLC cannot elect to be taxed as an S Corporation. It can elect to be taxed as a C Corp. Per IRC Section 1361(b)(1)(C) , an S Corp cannot "have a nonresident alien as a shareholder".   Read More
0 0 S-Corp
Are There Any Local Tax Changes In Colorado For 2017?
User Photo Alan Smith
Tax Professional Level: Tax Enthusiast

There are several changes to Colorado State-collected and home-rule jurisdiction local taxes effective January 1, but updates usually occur again in July. For January 1st, there are two new local jurisdiction...   Read More
Did New York State Recently Expand Its Movie & Television Tax Credit Program?
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

Yes, on November 4th of 2016, New York State Governor Andrew Cuomo signed Chapter 420 of the Laws of 2016 which expanded the New York State Film Tax Credit Program (hereinafter the “NYSFTCP”) for qualified...   Read More
Do Most States Within The United States Offer Movie And Television Production Tax Incentives?
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

Yes, most states currently offer Movie and Television Production Tax Incentives (hereinafter “MPIs”). MPIs are tax benefits offered on a state-by-state basis throughout the United States to entice, as...   Read More
I Have A Client Who Prepared W-2s For His Restaurant, TY 2013, That Were Not Submitted To SSA. The W-2s Did Not Include The Tips Reported...
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

Yes. Since the employees received the incorrect W-2 forms and filed taxes based on those, you should submit the originals. Then prepare and send in the corrected ones, giving a copy to each employee.   Read More
Are Proceeds From Insurance Claim Taxable To A Business?
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

Any reimbursement for damage to your property is not taxable to the extent it was used to repair the property. If it was a total loss, if the reimbursement exceeded your basis and was not reinvested comparable...   Read More
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

Exemptions include Your lack of insurance coverage was for three months or less. You aren’t required to file a tax return because your income is too low. You are incarcerated. You are in the U.S. illegally. You...   Read More


Meet Leading Tax Advisors

User Photo John Stancil

Lakeland, Florida, USA

Tax Advisor/CEO

User Photo Peter J. Scalise

New York, New York, USA

Federal Tax Credits & Incentives Practice Leader

User Photo John Dundon, II EA

Denver, Colorado, USA

Tax Director

User Photo Steven Potts JD EA IAR

Fullerton, California, USA

Principal

User Photo Devon McCarthy FCCA, EA

Sanford, Florida, USA

President

User Photo Caran Ebert, CPA

Topanga, California, USA

Tax Advisor

User Photo Randy Tarpey

Tyrone , Pennsylvania, USA

Owner

User Photo William Rogers, CFP, MBA, EA

Rancho Santa Fe, California, USA

CEO/Certified Financial Advisor

User Photo Lisa Nason CPA, MST

Greenville, South Carolina, USA

Managing Shareholder

User Photo NEERAJ BHATIA, CPA

Santa Clara, California, USA

Tax Principal - President

User Photo Bill Robinson, CPA

Chattanooga, Tennessee, USA

Owner

User Photo Hugo Van Zyl

Stellenbosch, South Africa

Exchange Control & Master Tax Practitioner (SA)

User Photo Douglas Stransky

Boston, Massachusetts, USA

Tax Partner, International Tax

User Photo Larry Stolberg, CPA, CA

Toronto Mississauga Oakville Burlington Hamilton, Canada

Tax Specialist

User Photo Chad Hatalla

Rheinfelden, Switzerland

Senior Tax Manager

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