Author Topic: any accountants out there that i can ask a question?  (Read 212554 times)

Offline ItzikF

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Re: any accountants out there that i can ask a question?
« Reply #1860 on: May 19, 2020, 05:17:56 PM »
Filed non filers for stimulus check and by mistake included my newly wed daughter as a dependent (shes 21 so i wont get anything for her). She wants to file a non filer so she could get the stimulus check. Will this be a problem (b/c i filed her as a dependent) and if yes what can I do?
Thank You In Advance
« Last Edit: May 19, 2020, 05:26:22 PM by ItzikF »

Offline Dawie

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Re: any accountants out there that i can ask a question?
« Reply #1861 on: May 19, 2020, 05:30:12 PM »
Filed non filers for stimulus check and by mistake included my newly wed daughter as a dependent (shes 21 so i wont get anything for her). She wants to file a non filer so she could get the stimulus check. Will this be a problem (b/c i filed her as a dependent) and if yes what can I do?
Thank You In Advance
When was she married 2019 or 20?
Amend yours and take her off
she likely wont be accepted as nonfiler if they accepted your return
she should file her own return (it will likely get rejected too until your amended goes thru)

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Re: any accountants out there that i can ask a question?
« Reply #1862 on: May 19, 2020, 07:30:13 PM »
Hi,

Can someone running a S-Corp business in NYS file for unemployment? (no payroll involved, not a W2 or 1099)
Yes. There's a dedicated UI thread

Online cgr

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Re: any accountants out there that i can ask a question?
« Reply #1863 on: May 19, 2020, 07:32:20 PM »
if someone lives and works not in the u.s. and pays taxes in the u.s.  and lost his job can he file for umempoyment in the u.s.?
It depends on the state and the circumstances. In most cases you need to file over the phone and get approval.

Online cgr

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Re: any accountants out there that i can ask a question?
« Reply #1864 on: May 19, 2020, 07:41:26 PM »
Accountants:

I posted this on the UI thread. It's about EITC eligibility as it relates to UI. Just want to confirm that I got it right.

Not exactly. Remember UI is in lieu of wages. Receiving less on UI than your usual wages will make you more eligible, and recieving more on UI vs wages will make you less eligible.


Here's what I mean when I say that UI is not Earned Income so you might be better off:

You earned 60k in wages last year- you have 60k in earned income. Your AGI is 20k. You're not eligible for EITC.
You earned 20k in wages and 40k in UI this year- you have 20k in earned income (even though your total income is 60k). Your AGI is 20k. You're eligible for EITC.

Offline ItzikF

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Re: any accountants out there that i can ask a question?
« Reply #1865 on: May 21, 2020, 07:14:03 AM »
When was she married 2019 or 20?
Amend yours and take her off
she likely wont be accepted as nonfiler if they accepted your return
she should file her own return (it will likely get rejected too until your amended goes thru)
Thanks for answer
She got married 2019. How do i amend my nonfiler? Also does my daughter have to wait until i amend or can she file a nonfilers right now?
Thank a lot

Offline Dawie

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Re: any accountants out there that i can ask a question?
« Reply #1866 on: May 21, 2020, 10:47:29 AM »
Thanks for answer
She got married 2019. How do i amend my nonfiler? Also does my daughter have to wait until i amend or can she file a nonfilers right now?
Thank a lot
Her nonfiler will be rejected
she should file a 2019 with her husband, regular return (but that is going to be rejected until you amend also)(actually i just read your thing again, you filed a nonfiler and included your daughter??? whatever for??? did you know by the way that the USA taxes your worldwide income.)
paper filing is a waste of time at this point because the IRS is swamped with mail
there is no quick fix on this you are likely gonna have to wait it out

Offline Unity

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Re: any accountants out there that i can ask a question?
« Reply #1867 on: May 24, 2020, 10:16:25 PM »
Hi I applied for non filer (bec I didn't make enough money to file taxes) to get my stimulus check? does anybody know at this time was I already supposed to receive it if not when should I expect it?(I gave my direct deposit info). Thanks

Offline LAX_Esq

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Re: any accountants out there that i can ask a question?
« Reply #1868 on: June 05, 2020, 12:23:34 PM »
I'm a solo lawyer with an S-Corp (registered in CA), and pay myself a reasonable salary (W-2) and take a draw for the profits (K-1). If I move out of state, *all* of my work will still for CA clients/cases, though remote.

If I "domesticate" (i.e., move the S-Corp state of incorporation) in my new state, it seems like still be required to do register in CA as a foreign corporation and pay CA franchise tax (1.5%) on my entire revenue. I think this is because all my revenue would have an "economic nexus" to CA. Is that correct? If so, I might as well just leave the corp as an S-Corp, right?

But if I'm completely residing out of CA, would I have to pay CA personal income tax on my salary and the draw? I think I would *not* have to pay CA personal income taxes on the salary (and the business would not have to pay CA state payroll taxes on that salary) because I'd simply be a remote out-of-state employee of a CA corporation. And I'd think that I would *not* have to pay income taxes on the K-1 draw because I'm a shareholder who resides out of state. Is that all correct?

Thanks so much. This is a bit confusing, and I'd appreciate a sanity check.

[Reposting from https://forums.dansdeals.com/index.php?topic=117141 per suggestion in that thread]

Online Mordyk

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Re: any accountants out there that i can ask a question?
« Reply #1869 on: June 07, 2020, 05:19:41 PM »
I have an LLC that i want to start doing payroll.  What form do I need to file to start doing payroll in NJ.   It wasn't originally done when the LLC was created

Offline Dawie

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Re: any accountants out there that i can ask a question?
« Reply #1870 on: June 07, 2020, 07:51:43 PM »
I have an LLC that i want to start doing payroll.  What form do I need to file to start doing payroll in NJ.   It wasn't originally done when the LLC was created
nj reg or reg c

Online Mordyk

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Re: any accountants out there that i can ask a question?
« Reply #1871 on: June 07, 2020, 09:23:02 PM »

Offline eternity88

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Re: any accountants out there that i can ask a question?
« Reply #1872 on: June 21, 2020, 06:08:14 AM »
Basically I worked in new Mexico for 330 days in 2019. But my id and home address and car and family is all in California. I can't apply safe Barbour rule because even though my contract is for 2 years. The restaurant stopped operating since March until July due to covid-19. so would I file residency in both states and pay taxes for both? I know California is pretty aggressive so I am not sure what is my best option. My w2 income is about $31k. Would I file non resident of California and resident of new mexico or would I file resident of both states?

Offline avrumy

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Re: any accountants out there that i can ask a question?
« Reply #1873 on: July 05, 2020, 06:53:34 PM »
If someone is filing just to get back the Federal and state withheld $ and they are a dependent on their parents return they take the standard deduction or a different one? Thanks

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Re: any accountants out there that i can ask a question?
« Reply #1874 on: July 05, 2020, 07:07:35 PM »
If someone is filing just to get back the Federal and state withheld $ and they are a dependent on their parents return they take the standard deduction or a different one? Thanks

Federal standard deduction is $1,100 when filing a dependent return.
State will depend on the state your filing in.