Author Topic: any accountants out there that i can ask a question?  (Read 490695 times)

Offline avrumy

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Re: any accountants out there that i can ask a question?
« Reply #420 on: April 14, 2015, 04:15:18 PM »
answers all your questions. no you cant use that one, and if you use correct link you can order whichever year you need
to my understanding i need to send this out by 4/15. is that correct?

Offline henche

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Re: any accountants out there that i can ask a question?
« Reply #421 on: April 14, 2015, 06:13:27 PM »
Reminder to file your extension today.

Offline avrumy

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Re: any accountants out there that i can ask a question?
« Reply #422 on: April 14, 2015, 09:05:51 PM »
Reminder to file your extension today.
Do i need to file a extension if i do not owe any money?

Offline ushdadude

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Re: any accountants out there that i can ask a question?
« Reply #423 on: April 14, 2015, 09:10:45 PM »
Can I still pay federal tax online?

Quote
The payment date below is the date you will get credit for the payment. As long as you have submitted your payment on or before the due date and receive a confirmation number in this program, you should avoid penalties or interest on your account even though actual payment does not occur until the next available banking day.

It's only letting me put in 4/16 as date.

Offline upside down

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Re: any accountants out there that i can ask a question?
« Reply #424 on: April 14, 2015, 10:24:28 PM »
is the cutoff time midnight tonight in a hour and a half, or tomorrow night?

Offline dealvr

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Re: any accountants out there that i can ask a question?
« Reply #425 on: April 14, 2015, 10:42:27 PM »
is the cutoff time midnight tonight in a hour and a half, or tomorrow night?
Tomorrow night
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Offline ckmk47

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Re: any accountants out there that i can ask a question?
« Reply #426 on: April 15, 2015, 12:36:08 AM »
Do i need to file a extension if i do not owe any money?
I always thought not.  And for the federal it may be true, but I've come to doubt it.
I recently had a mistake on my 2012 federal form found by the IRS.  My tax was recalculated and I sent it all in.  Then I put the new amount into TurboTax and recalculated the NYS form and sent it in with a cover letter.  I got a 'late filing charge', besides the taxes and interest due.  It seems that since I never filed an extension, I was now being fined for this late payment, even though I got a refund originally.  (I called and they gave me a one-time waver of the fee.)  So this year I filed an extension - on the NYS tax website.  And by snail mail to the IRS.
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Offline MarkS

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Re: any accountants out there that i can ask a question?
« Reply #427 on: April 15, 2015, 01:08:43 AM »
Do i need to file a extension if i do not owe any money?
if you meet the threshold for being required to file a return, then you need to file an extension even if you don't owe any money
« Last Edit: April 15, 2015, 01:15:21 AM by MarkS »

Offline avrumy

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Re: any accountants out there that i can ask a question?
« Reply #428 on: April 27, 2015, 06:23:15 PM »
Where would you put cell phone and internet expenses which is in the home on a schedule C? by utilities or other or...?

Offline David R

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Re: any accountants out there that i can ask a question?
« Reply #429 on: April 28, 2015, 01:03:39 AM »
if you meet the threshold for being required to file a return, then you need to file an extension even if you don't owe any money

...but if you fail to file on time nor file an extension and you don't owe any money, you are not penalized. Understand how they compute the penalty and you will see what I mean.
http://www.irs.gov/uac/Newsroom/Eight-Facts-on-Late-Filing-and-Late-Payment-Penalties

Offline avrumy

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Re: any accountants out there that i can ask a question?
« Reply #430 on: April 29, 2015, 10:07:32 AM »
Where would you put cell phone and internet expenses which is in the home on a schedule C? by utilities or other or...?
Bump

Offline Blazer

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Re: any accountants out there that i can ask a question?
« Reply #431 on: May 11, 2015, 11:39:36 PM »
if you meet the threshold for being required to file a return, then you need to file an extension even if you don't owe any money

I filed many Returns that had no amount due (or expecting a refund) after 4/15 without an extension. There is no problem doing so. If you owe no amount or expecting a refund, you have 3 years to file your return, the only benefit of an extension would be that you would have 3 years till Oct 15th (vs 3 years till April 15th without an extension)

Offline Mordyk

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Re: any accountants out there that i can ask a question?
« Reply #432 on: May 14, 2015, 09:54:57 AM »
i have a side business that i will receive many 1099s. i want to avoid the regular taxes. should i make a c corp or an LLC?
« Last Edit: May 14, 2015, 10:28:17 AM by Mordyk »
#TYH

Offline henche

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Re: any accountants out there that i can ask a question?
« Reply #433 on: May 14, 2015, 10:18:35 AM »
i have a side business that i will receive many 1099s. i want to avoid it being on my name. should i make a c corp or an LLC?

Or, you could set up a whole structure of corps and offshore feeders, and make sure nobody can track it back to you.

But its easier and cheaper to just not get paid the money.

Offline Mordyk

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Re: any accountants out there that i can ask a question?
« Reply #434 on: May 14, 2015, 10:28:45 AM »
Or, you could set up a whole structure of corps and offshore feeders, and make sure nobody can track it back to you.

But its easier and cheaper to just not get paid the money.
do you have anything intelligent to share?
#TYH

Offline lunatic

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Re: any accountants out there that i can ask a question?
« Reply #435 on: May 14, 2015, 10:29:43 AM »
do you have anything intelligent to share?
No,  not her

Offline Blazer

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Re: any accountants out there that i can ask a question?
« Reply #436 on: May 14, 2015, 10:40:31 AM »
i have a side business that i will receive many 1099s. i want to avoid the regular taxes. should i make a c corp or an LLC?
What do you mean you want to "avoid the regular taxes" on a Corp and LLC you have to also pay taxes.

Offline Mordyk

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Re: any accountants out there that i can ask a question?
« Reply #437 on: May 14, 2015, 10:42:23 AM »
What do you mean you want to "avoid the regular taxes" on a Corp and LLC you have to also pay taxes.
i understand the corp can pay taxes. does that mean that i am?  maybe im confused about what the pros of a corp.
#TYH

Offline henche

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Re: any accountants out there that i can ask a question?
« Reply #438 on: May 14, 2015, 10:53:42 AM »
i understand the corp can pay taxes. does that mean that i am?  maybe im confused about what the pros of a corp.

Your original question was to avoid having it your name. Now you edited to say you want to avoid the regular taxes.

So what is your object? To save money, or to hide your income from somebody?


Offline ckmk47

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Re: any accountants out there that i can ask a question?
« Reply #439 on: May 14, 2015, 10:56:46 AM »
i have a side business that i will receive many 1099s. i want to avoid the regular taxes. should i make a c corp or an LLC?
To get you started, I googled 'c corp vs llc', and this looked good.
http://www.obliviousinvestor.com/llc-vs-s-corp-vs-c-corp/
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