tax question! accountants please!?
920109
You do not have to pay taxes on an insurance settlement. The money is meant to indemnify you. However if you decide to invest it you will have to pay taxes when you collect dividends. But if you are going to repair your vehicle or anything like that you are ok. \n\nI have an accounting degree and a license in P & C insurance. This topic has been brought up several times!
401063
I actually answered your erlier question.\n\n\nI am not 100% sure in regards to filing a Fla return but at the moment I am 99%. If you e-mail me on Monday @ andrjones@yahoo.com I can give you an answer that is 100% acurate. \n\nFurthermore you said that your LLC was taxed as a corp... As you will see below LLCs are generaly not taxed as anything. They are usually flow through entities that effect your individual return. In other words if you are a corp then the corp is an S-corp and will issue a K-1. If you are a partnership then the partnership will issue a K-1. If you are a proprietorship then the return is actally filed on Sch C of your individual return. There is no tax on the LLC if you are a corp or partnership. The tax is actually only on your individual return.\n\nAs far as were to find the form is concerned: You can find the form at IRS.gov. If you are definatly sure you are corp then the 1120S if you are an S-corp. If you are a partnership then u use form 1165. I have never used form from the IRS site but I do think you can e-file from the site.\n\nI will warn you. Not to be mean but based on the questions you are asking I think its fair to say that you do not know about this type of work. If that is the case, I would not recomend doing this yourself. Doing taxes for buisnesses are more difficult then your individual return. I highly recomend having a CPA do your taxes. \n\nI know my firm charges between about 750 to prepair a return like this. I believe that if you pay to have your taxes done then you will not regret it . Furthermore if you are a S-corp or a partnership then you buisness tax return will effect your idividual tax return. The K-1 from your buisness will be included in your idividual return.\n\nIf you contact me via e-mail, I may be able to have our firm do them. However I want to be verry clear to you that it was no my attempt in answering this question to increas my companies clientel. It't just in this case I honestly believe that you need an accountant and we happen to do work for clents in Florida.\n\nOnce agian I do want to make sure that this does not come off as advertisement and that is why I have not included the company name. I also usually charge 150 an hour to answer questions like this considering I am giving the info for free, I hope you trust me.
178259
Your tax rate is 15%.  This is assuming that this is straight income from operations and that you had no gain on the sale of assets.
139149
don't listen to all the nonsense that people tell you. the real and only answer is what the IRS says in this matter.\nhttp://tinyurl.com/5u0d
1119437
I haven't done this in forever, but I'll try.  If I get something egregiously wrong, let me know via email.\n\nIn the interests of laziness, I used M instead of MM for million.\n\nIn time 0, there's\n-15M\n-150k\nSum = -15.15M\n\nIn year 1,\nthere's\n-1M from fixed costs\n-5.65M from change in NWC (58M in sales -> 5.8M total)\n+8M from (sales - VC)\n-2.8M in tax\n+1.5M from deprecation tax shield\nSum = .05M\n\nIn year 2,\n-1M in fixed costs\n-2.9M from change in NWC (87M in sales)\n+12M from (sales - VC)\n-4.4M in tax\n+1.5 from depr\nSum = 5.2M\n\nIn year 3,\n-1M in fixed\n+4.35M (43.5M in sales)\n+6M from (sales - VC)\n-2M in tax\n+1.5 from depr\nSum = 8.85M\n\nAt the end (still year 3),\nthere's\n+4.35M from recovered NWC\n+3.75M in salvage value (might be less if the book value is less than 3.75...I don't exactly remember how to handle this, but it might be 60% depending on if the sale is taxed from whatever cost basis)\nSum = 8.1M\n\nSo, -15.15M + (.05M/1.2) + (5.2M/1.2^2) + (8.85/1.2^3) + (8.1M/1.2^3) = -1.69M\n\nThe IRR is relatively trivial from here.\n\nHm, so it's looking negative.  I'm not sure.  There's definitely something off in my calculations somewhere.  *shrug*
65074
this is a new ?? to me.  go visit the irs website and see if they can help.\ngood luck
106555
The IRS has a simple equation thus,\nHow much did you earn.....+\nHow much did you spend...-\nGive us the rest...........=
700062
I used to pay between 400 - 600 pounds but its worth shopping about and if you keep any computerised accounts such as quickbooks or sage then it often help the accountant to finalise the books. If you do this you can ask for a reduced amount as your saving them a lot of time. hope this helps
449856
Tax laws change from year to year ... best get a new copy and write it off on your taxes. \n\nMake sure the shortcut points to the correct folder. You might have to re-install it but save last year's return first.
234050
Based on your tax question earlier and this posting.... I am thinking you may need a bit more help than a tax attorney.\nYour 34 years old..(according to your last post)... It is time to grow up...
592885
Depends on how many dependants and how much you write off as business expense.  Tax is typically 1/3
264769
Talk to someone from IRS.They have a toll free number in the phone book or calla local tax place and ask them for help on what you can do...good luck!
952578
You can give yourself as much time off as you want. You can also pay yourself whatever you want while you're not working... just remember to declare it accurately to your accountants and the tax office.
842975
$10k................. Do it in 2 transactions on 2 different days. If you do it in the same day, even at different times, they will pull out the form on you.\n\nThere should be no worries but who needs the IRS breathing down your back.
1000471
Looking at your answers so far, mine might be a bit generous, but I got the accountant who sits by me to work it out - so here goes:\n\n£5,035 is not taxed (this has recently gone up)\n£2,150 is taxed at 10% (£215)\n£11,815 is then taxed at 22% (£2,599)\n\nThat means that £2,814 is deducted each year, leaving you with £ 16,186 which is £1,349 per calendar month take home pay.
386449
call some where like H&R BLOCK i dont think you have to file this .\nbut still check with the pros huh? \nthere are people there that can answer this for you .\ngood luck .. i hate tax season !!
851031
It means they paid you back...but, they paid you too much!  So, you still owe again!!!\n\nI would get with my Accountant or whom ever is paying your taxes and tell them to get on the ball and straighten this thing out... \n\nApparently they are not paying attention if your paying 2 - 3 times what you should be.. Or I would be seeking a different Accountant  PDQ!!!\n\nI wish you well..\n\nJesse