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Tax Advisor’s – Please Help Answer Tax Question Of The Week!

Answer Tax Question, Ask Tax Advisor, Ask Tax Expert, ask tax question, Tax Blog, Tax Question, TaxConnections

Tax Advisor’s – Your Thoughts On This Question Of The Week?

I spoke with the IRS about a Letter 12C and they have my response. Knowing it was an error on Turbotax end, will it take 6-8 weeks to deposit into my account? Can anyone help me?

Every Friday, TaxConnections addresses a question submitted to our Ask Tax Questions Platform. We ask our members to offer their thoughts on this question for the week. We realize you may need more information which you can request in the comments section below, or reach taxpayer privately as a TaxConnections Member. 

Please Make Comments Below To Communicate Your Thoughts

 

Tax Advisor’s Reference Guide – 292 Pages Of Individual Federal Tax Return Instructions

Tax Advisors Reference Guide, IRS, Federal Tax Returns, Tax Forms, Individual Tax Return, Federal Tax Return, Kat Jennings, Tax Blog, TaxConnections

With all the changes in taxes this year, it takes an ace tax advisor to figure them out. Therefore we want to make certain our members and followers have access to the most up-to-date information in preparing clients individual federal tax return.  We are providing you the Tax Advisors Reference Guide with 292 pages published by the IRS  for those of you preparing federal tax returns for tax clients. What is also wonderful about this publication is it provides all the Tax Forms you will need to prepare tax returns in English, Spanish, Chinese, Korean, Russian and Vietnamese. Read more

Senior Tax Manager – Mergers & Acquisitions (Los Angeles, CA)

Kat Jennings, Tax Jobs, Tax Hire, TaxConnections

As a member of our team, you’ll be involved with working closely with private equity firms, public and privately held companies, advising them on tax structuring matters, financial and tax due diligence, and assistance with closing M&A transactions.

Responsibilities:

  • Develops, grows and serves as a firm technical resource for the U.S. income tax aspects of financial due diligence and mergers and acquisitions (M&A)
  • Leverages technical knowledge and experience to provide effective project management and practice development; delivering timely and responsive services and products that meet and/or exceed client expectations

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A Secret Few Know About A Graduate Tax Degree

Graduate Tax Degree, Graduate Tax Program, Multinational Tax Job, Kat Jennings, CEO, Tax Blog, TaxConnections

While speaking to the Dean of a graduate tax program recently, I shared with them an important fact. The majority of corporations, public accounting, and law firms all require a graduate tax degree to get through the front door to interview today (or they want to see you are enrolled in a graduate tax program).  If you have a graduate tax degree like an MST, MLST or an LL.M, you made a great career decision already as these tax professionals are the ones who are being hired by major firms today.   Read more

Tax Question: How Do I Handle My LLC With Early Retirement?

Answer Tax Question, Ask Tax Advisor, Ask Tax Expert, Ask Tax Question, Tax Blog, Tax Question, TaxConnections

I am early retiring this year and own an LLC company that only makes about 30K a year but much more than the allotted 17K that I have to stay under for this year. My wife helps me with this work but we don’t pay each other a salary, we just put the money in our business account when it comes in and file 1 Schedule C for the business on our yearly tax forms. She owns 1 share in the LLC and I own 100.

How would I structure this so that my income is limited to 17K and the remainder over that goes into her income. Do I need to update the LLC agreement or put each other on the payroll or maybe just me on the payroll? Do I just transfer ownership (all shares) to her? How would you advise me? Read more

TaxConnections – Marketing You Is What We Do

Tax Video, TaxConnections, Tax Marketing

Position Yourself In Front Of Higher End Clientele With TaxConnections And Connect With Executives In Multinationals.

Take Action With TaxConnections Membership Today.

 

Tax Advisor’s – Please Help Answer Tax Question Of The Week!

Answer Tax Question, Ask Tax Advisor, Ask Tax Expert, ask tax question, Tax Blog, Tax Question, TaxConnections

Tax Advisor’s – Your Thoughts On This Question Of The Week?

A 62 year old exempt Catholic Priest has paid 44 quarters of social security and medicare payments with the past eleven years of income tax returns. He qualifies for medicare at age 65, reduced social security at age 62 and full social security at age 66.

Can the Catholic Priest stop paying social security and medicare payments on future earnings?

Read more

Head Of Tax And Treasury (San Francisco Bay Area)

Head Of Tax, Tax Jobs, Tax Blog, San Francisco, California, TaxConnections

TaxConnections Executive Search Services Division has been retained to conduct a search for a Head of Tax with a very successful San Francisco Bay area company.

Head Of Tax And Treasury (San Francisco Bay Area)

The Head of Tax will work closely with management in reviewing global corporate tax compliance, the global tax provision, transfer pricing and treasury strategy. Responsibilities include managing global outside tax consultants and reviewing processes and procedures. The Head of Tax will partner with internal business leaders to effectively manage exposure. Read more

Tax Advisor’s – Answer Tax Question Of The Week!

Answer Tax Question, Tax Blog, TaxConnections

Tax Advisors- Your Thoughts On This Question Are Appreciated

Taxpayer Question: I invested about 250 hours on a project that did not pan out and this had a huge impact on my bottom line in 2015.

For a consultant who charges an hourly rate and working as a sole proprietor, can I take a loss for work done on a project that was rejected by the client?  Read more

Tax Advisors Reference Guide On President Trump’s Executive Orders On The Elimination of 298 IRS Existing Regulations #2

You would never know what was hidden in these regulations unless you conduct extensive research which we did for our members. We will be providing our research to our members.  Based on a preliminary review, these proposals could be very far reaching and effect a wide range of our member’s clients. These proposals deserve your immediate review!

TaxConnections Members should study this very important information in order to make comments or request a public hearing on areas that will impact you and your clients. If you want to comment or request a public hearing please make note of the date of May 14, 2018. You must make a request for a public hearing before this date.

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Tax Advisors Reference Guide On President Trump’s Executive Orders On The Elimination of 298 IRS Existing Regulations #1

Tax Advisors Guide On President Trumps Executive Orders On Elimination Of 298 Regulations

Tax Advisors would never know what was hidden in the proposed removal of 298 IRS regulations unless they spent twenty-five hours researching the links to the IRC which we did for TaxConnections members. Based on a preliminary review, these proposals could be very far reaching and we urge TaxConnections members to review the proposed changes immediately and if interested, request the opportunity to testify at the IRS public hearings on topics of interest to you and your clients.

We spent hours linking up the proposed removals of these tax laws to the Code of Federal Regulations for you. This saves our members many hours of research time in order to enable our members to focus on analysis of these changes.

TaxConnections Members should carefully study this information in order to make comments or request a public hearing on these far reaching proposals. If you want to comment or request a public hearing, you must make a request for a public hearing before May 14, 2018.

Read more

Tax Advisors – Answer Tax Question

Kat Jennings, CEO, TaxConnections, Tax Questions, Tax Blog

TaxConnections Members are able to connect with a steady stream of prospective clients by answering tax questions. Answering visitors’ tax questions is a great way to begin the conversation. Each Friday we post a question we ask our community members to comment in order to help our site visitors.

How would you advise a client given this scenario? 

We are a married couple and we both have W2 jobs from stable large corporations. Wife also has 1099 income (physician practice + moonlighting). How should we organize her business so that we can maximize tax avoidance while taking our combined situation into account? These numbers are for 2018.
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