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Topics that help our customers.

Can F1 student receive 1099?

Sep 10,2017 at 09:08 pm

Usually, if you are on F1 OPT(Optional practical training) the employer issues a W2. The student then files form 1040 NR along with form 8843.

In your question, the complete facts have not been presented so it is unclear why an employer would issue a 1099-MISC without withholding taxes. [Read More]

If I sell my primary residence at a loss, can I deduct that amount from my income?

Sep 10,2017 at 08:51 pm

No, you cannot deduct it as there are no losses allowed on personal property like a car, personal residential property.

However, there are special rules that may apply if it was partially used as a rental property. There are also several other rules that apply to a rental real


[Read More]

What if you close an LLC business account in the USA, and after that, you get hit by check returns and deposits?

Sep 09,2017 at 02:38 pm

In most situations, your bank should be able to assist. They may not allow any new transactions.

An important point to note is that you should ensure your books and taxes are handled properly. They should reflect this new activity and you should file your final tax return.


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I am moving from NY to Boston - should I relocate my LLC from NY to MA?

Sep 09,2017 at 02:30 pm

It depends on various factors.

  1. Most important to understand is your state nexus rules for various types of taxes depending on your industry eg: Franchise tax, sales tax. Each state has different nexus rules.
  2. Is this move permanent or only for a short duration?
  3. Do you...

    [Read More]

If someone registered an LLC company, when will the original certificate be available, after receiving the certificate of filling?

Sep 04,2017 at 06:03 am


It varies by state.

In many states, as soon as your application has been accepted and the company has been registered, you will be able to download a copy from the state website.

I am assuming by stating ‘original certificate’ you are referring to the stamped copy from...

[Read More]