Archive for Tax Question Of Week

Tax Professionals – Can You Answer This Question?

Tax Question -Wyoming, New York, Delaware

TaxConnections is reaching out to our community of tax experts to help answer a tax question for one of our site visitors. Your advice will be most appreciated. Can you help?

When you are a member and answer our visitors tax questions we give you credit by promoting you and your tax expertise on the home page of TaxConnections. You can also make comments below.

“What would be the taxes (corporate and individual to shareholders upon dividends) on ordinary income in the following org structure: NY resident 100% owner of a Wyoming corporation ->Wyoming Corporation 100% owner of a DE LLC –> DE LLC generates ordinary income from interest, fees and rents. The DE LLC is doing business in NY.”

 

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Tax Question – Taxpayer Living In Thailand Needs To Pay Probate Taxes In Tennessee

Tax Question - Probate Tax Matter In Tennessee

TaxConnections asks our community of tax professionals to help answer this tax question for one of our site visitors. Can you help?

When you are a member and answer our visitors tax questions we give you credit by promoting you and your tax expertise.

Living In Thailand  – Need To Pay Probate Taxes In Tennessee 

I have taxes to pay on the sale of property I inherited through a probate which levied the value of the property as it was 54 years ago. Accordingly the original value of my property was $15,000, but I sold it for $300,000. Is there a better way I can be accessed for taxes than the $285,000 it appears I must manage now?

Please leave your comments below as to how you would advise him.

 

 

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Tax Professionals – Tax Question Of The Week

Each Friday we publish a tax question from one of our site visitors who arrive from more than 190 countries and territories around the globe. This week we have an interesting question for our tax professional members with international experience.

“We are a trading company located in Bahrain. Most of our purchases are from UAE and payments via Telex Transfer. After implementation of TAX in UAE, suppliers are adding 5% Tax in our invoice and we are forced to include this amount in TT.

We cannot charge this money to our customers because we are not in UAE. Are we considered as the end user in UAE TAX LAW? Is there is any chance of exemption?”
Please provide your comments below to the CEO who seeks the help of our tax professional members. We greatly appreciate your insight.
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Tax Professionals – Tax Question Of The Week

Tax Question, Clergy Taxes, TaxConnections

Every Friday we post one question from our Ask Tax Question feature and invite our tax professional audience to help our visitor. The Tax Question this week is as follows:

Thank you for the article about who is considered a minister for tax purposes. I am a female whose current church does not ordain women as ministers or deacons. I am a missionary to Jamaica and just created my own ministry after serving almost a year with another ministry. My ministry’s focus is street evangelism and church planting.

If a church in Jamaica ordains me, would that count for IRS purposes or would I have to be ordained by an organization in the U.S.? I realize that we are talking case-by-case. Is there a group within the IRS that would receive a submission of review regarding ordination or status? Thank you so much for your help with this!!!

I appreciate it greatly!!

 

 

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