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    INVESTMENT EXPENSES

    Posted in: All member Forum

    An LLC's main asset is thousands of acres of land and one home... The LLC rents parts of the land....and direct expenses are deducted from the rental income. The LLC has other expenses not directly related to the rental land....such as wages (to ...

  • Posted in: All member Forum

    VA S-Corp has a single employee working remotely from IL residence. All work performed relates to business conducted in VA; no IL clients/customers are located in IL.  Taxpayer reports IL wages (withholding) and pays unemployment tax in IL. Taxpayer ...

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    Trust 1041

    Posted in: All member Forum

    Decedent was in a nursing home on medicaid. Decedent had a pension which was paid to his estate in the amount of $160,000. The state put a claim for the medical and nursing home they paid on behalf of the decedent and settled for $130,000. It doesn’t ...

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