One of the fundamentals of LLC taxation is that all tax items (income, gain, loss, credit, etc.) flow through to the owners, and in so doing, they...
It is a matter of the creditor's own individual underwriting policy. The creditor is trying to verify that you have the income sufficient to...
Thanks for the follow-up question. I realize there is some uncertainty on the taxation of options for QQQs. It would sure help if we had...
Just for the record, I believe that QQQs are deemed to be "securities" for tax purposes. Accordingly they are not treated as Section 1256 contracts.
There are two jurisdictional levels that come into play--the federal and state. As you know, the federal level regulates securities through the...
Traders Accounting does not plan on sending representatives to the Money Show. We will, however, have representatives--and a booth--at the Online...
Back to the original question, look at the payee line on the check. If it says "and" then both signatures should be required. If it says "or"...
Hi VVVWaveRiderVVV: Let me take your questions in reverse order: 1. The reason the wash sale rule is considered a ânightmareâ for traders...
Boomer, there is no crisp answer to how much medical insurance premiums cost. The premiums vary on a host of factors: how much deductible the...
Hi Boomer: Hereâs the big picture: A flow-thru entity such as an LLC can pay for medical insurance premiums of the owner-members with entity...
It appears this same subject is being addressed on two different threads at the same time, albeit with different participants on the two threads....
Hi Howardy2k: I don't want to have to deliver bad news, but the rule is the rule. There are two ways to get out of the wash sale rule for...
Hi Lindq: The answer is yes. The net short term capital loss, after offsetting any capital gain in the current tax year and $3k of ordinary...
Hi Mike: We are confronted here with a situation in which there is an appalling lack of guidance from Congress or the IRS on this issue. As a...
I agree with the answer posted by âomcate.â Hereâs the way the rules work: The $40k of short-term capital loss (STCL) in 2002 first...
Hi Foz: This question really raises the issue whether a sole proprietor is deemed to be an employee of himself for fringe benefit purposes. A...
I did some preliminary research and did not find any specific authorities on point that addressed your exact situation of a self-employed taxpayer...
I'll defer to the Foreign Tax Reclaims experts and gurus on this one!
Hi Larryb: Yes, you are basically correct. The management fee is indeed subject to the 15.3% self-employment tax. That's the whole idea; the...
In my 12/15/03 post, I speculated whether the computer software development costs had to be capitalized, and I noted that I did not have time at...
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