Showing posts from December, 2004

Internet Business Taxation

QUESTION:I am trying to start up an internet business. I have recently formed an LLC in New Jersey which will own the site and receive all payments. Will I need to qualify to do business in every other state (and other countries presumably) because I may be receiving business from customers all over the world?
REPLY: You may be subject to tax in other states depending upon your type of business and contacts within the state. Even if you do not maintain an office in a site, if you sell enough merchandise in a particular state, that state may try to tax you. Because the states are hungry for revenue, you must anticipate attempts at taxing and auditing your business. You should immediately contact a tax and business attorney to help you establish your business right.Please tak a look at my web site

Husband's Past Due Tax Returns

===========Question: Category: Tax and Taxation Law Subject: Liability for spouses past due income taxMy husband did not file a tax return for several years. The IRS has contacted him regarding his failure to file in 1996, 1997, and 1998. They have put a lean against his property in the amout of $110,000. We were married in August of 1998. We have never filed a joint return. During the years where i earned income, I filed seperatly. He has no reportable income at present, but I do. Furthermore, he told the IRS agent where I work. Will they (or can they) attach my wages? Am I responsible for any portion of his debt? What if we were to divorce? Please advise. Thank you.===========Reply: Tax and Taxation LawLocation: PASubject: Re: Liability for spouses past due income taxYou are not liable for your husband's taxes prior to your marriage. Your husband should immediately contact a tax lawyer and fil…

Donate Your Car Now!

Until January 1, 2005, any car worth less than $5000 donated to a charitable organization can be deducted based on the reasonable "blue book" value. The new tax law, effective Jan. 1, 2005, limits your deduction for donations greater than $500 to the gross proceeds received by the charity from the sale of the car, rv, etc.

Tax Court May Be Forced to make Opinions Public

The US Supreme Court heard arguments today concerning the US Tax Court's failure to disclose opinions in large cases. The Tax court stopped publishing these opinions, even refusing to reveal them to taxpayers, since 1983. If the case is successful, taxpayers will now see the reasons behind the Tax Court decisions. See Full Article