Author Topic: any accountants out there that i can ask a question? (Read 499119 times)

sruly101 · « **Reply #760 on:** February 10, 2016, 02:43:16 PM »

If earned 2015 $18,000 (W-2), filing as a couple with 2 kids lives in NY, whats the Tax return he will be getting?

ExGingi · « **Reply #761 on:** February 10, 2016, 02:55:00 PM »

Quote from: Mordyk on February 10, 2016, 01:27:03 AM

For a family of 2 adults and 2 children at what income do you make the largest tax return for 2015

It might be too late for you, but I am arguing that it doesn't make sense (at least from a tax standpoint, as long as you can have some control as to who gets paid) to be legally married in the US.

I know of a couple that followed my opinion on this, they did not get "legally" married, but are Halachically married. They had their second child in 2015. Each one of them will file 2015 taxes claiming one child. I think that might get them the maximum EIC as well as maxing out on several other items.

churnbabychurn · « **Reply #762 on:** February 10, 2016, 03:18:46 PM »

Quote from: ExGingi on February 10, 2016, 02:55:00 PM

It might be too late for you, but I am arguing that it doesn't make sense (at least from a tax standpoint, as long as you can have some control as to who gets paid) to be legally married in the US.

I know of a couple that followed my opinion on this, they did not get "legally" married, but are Halachically married. They had their second child in 2015. Each one of them will file 2015 taxes claiming one child. I think that might get them the maximum EIC as well as maxing out on several other items.

In virtually every area it is beneficial to file jointly.

Dawie · « **Reply #763 on:** February 10, 2016, 03:27:12 PM »

Quote from: churnbabychurn on February 10, 2016, 03:18:46 PM

In virtually every area it is beneficial to file jointly.

with two kids each can technically be head of household (probably illegal too)

Jack out of the box · « **Reply #764 on:** February 10, 2016, 06:05:31 PM »

Quote from: Zevi16 on February 10, 2016, 02:25:19 PM

Forming an LLC in NY.
I am doing it online on TotallyLegal.Com is that a good idea?
Is it important to make a registered agent?
Is $69 ok to get the EIN for me?
Tia.

Get your EIN on IRS.gov for free

Zevi16 · « **Reply #765 on:** February 10, 2016, 06:15:02 PM »

Quote from: Jack out of the box on February 10, 2016, 06:05:31 PM

Get your EIN on IRS.gov for free

And which state should I form it in

Jack out of the box · « **Reply #766 on:** February 10, 2016, 06:52:04 PM »

Quote from: Zevi16 on February 10, 2016, 06:15:02 PM

And which state should I form it in

I don't know exactly what you're setting up. I don't know how that works with LLCs. In any case here's a quote from the IRS "Applying for an EIN is a free service offered by the Internal Revenue Service. Beware of websites on the Internet that charge for this free service." https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/How-to-Apply-for-an-EIN

jackofall · « **Reply #767 on:** February 10, 2016, 07:07:41 PM »

Quote from: Zevi16 on February 10, 2016, 06:15:02 PM

And which state should I form it in

Without taking any mitigating factors into consideration usually it is best that you involve the least amount of states as possible. Meaning if you live in NY and the business is located in NY you open the entity in NY.

yitzf · « **Reply #768 on:** February 11, 2016, 12:24:42 AM »

Quote from: jackofall on February 10, 2016, 12:37:14 AM

Federal Free. State depends on state.
Federal yes. State depends which one.
Annual fee again no for federal, state.....

AFAIK there is no such thing as a federal LLC. Business entities are in the realm of the states.

Applying for a EIN is not creating an entity.

Zevi16 · « **Reply #769 on:** February 11, 2016, 12:26:58 AM »

Quote from: yitzf on February 11, 2016, 12:24:42 AM

AFAIK there is no such thing as a federal LLC. Business entities are in the realm of the states.

Applying for a EIN is not creating an entity.

That's what I thought whilst checking up online

Crazy tools · « **Reply #770 on:** February 11, 2016, 01:20:13 AM »

Anyone care to read over this question and answer and weigh in if it's accurate?
I'm speaking in particular about the last comment on the first answer. It would be greatly appreciated.
https://ttlc.intuit.com/questions/2954490-do-i-need-1095-a-if-i-m-covered-under-parents-health-insurance-and-not-a-dependent

jackofall · « **Reply #771 on:** February 11, 2016, 02:07:32 AM »

Quote from: yitzf on February 11, 2016, 12:24:42 AM

AFAIK there is no such thing as a federal LLC. Business entities are in the realm of the states.

Applying for a EIN is not creating an entity.

You are still required to register your business with the IRS. And they do recognize LLC designations. It defaults to be taxed like a partnership.

Zevi16 · « **Reply #772 on:** February 11, 2016, 02:20:17 PM »

What is the cheapest way to list my home business in NY

Hamavin · « **Reply #773 on:** February 11, 2016, 03:31:33 PM »

Any very good accountants for small biz that you can refer in lakewood?

bklyn · « **Reply #774 on:** February 11, 2016, 07:05:51 PM »

Quote from: Hamavin on February 11, 2016, 03:31:33 PM

Any very good accountants for small biz that you can refer in lakewood?

Dov Biegeleisen the best!
732-577-8844

akivak · « **Reply #775 on:** February 12, 2016, 11:24:57 AM »

Quote from: joeberg on February 10, 2016, 02:13:26 PM

Not sure what's so funny.$125 to file- http://www.nj.gov/treasury/revenue/gettingregistered.shtml
$50 annual- http://www.state.nj.us/treasury/revenue/dcr/programs/ann_rpt.shtml

Is this the cheapest/best option?

joeberg · « **Reply #776 on:** February 12, 2016, 02:45:36 PM »

Quote from: akivak on February 12, 2016, 11:24:57 AM

Is this the cheapest/best option?

This week's to be the basic DIY option. I would think all other options would just tack on fees.

Ydad · « **Reply #777 on:** February 16, 2016, 03:44:43 PM »

If my childcare gets deducted straight from my paycheck and paid to my caregiver can I claim that? I imagine the answer is no but was wondering. TIA

Dawie · « **Reply #778 on:** February 16, 2016, 03:46:58 PM »

Quote from: Ydad on February 16, 2016, 03:44:43 PM

If my childcare gets deducted straight from my paycheck and paid to my caregiver can I claim that? I imagine the answer is no but was wondering. TIA

is it on your w2 box 10

Ydad · « **Reply #779 on:** February 16, 2016, 03:52:27 PM »

Quote from: Dawie on February 16, 2016, 03:46:58 PM

is it on your w2 box 10

not there. What does that mean?