Patti S BlumPatti's Tax ServicePO BOX 796Sheffield, PA 16347-0796814.968.5919 Phone814.968.4375 Fax
With a SMLLC (a non Sub S Corp) the IRS and PA require only a Schedule C for the personal income tax however PA also requires aa Corporate Tax Return, the RCT-101 which needs to be filed regarding the Capital Stock/Franchise tax.
Looking for someone with experience in filing the RCT-101 electronically. I found ProSeries to be much less than user friendly. I would appreciate any comments on this filing topic.
Tom Maher, RTRP
I am an NATP member in CT and have been asked to do a PA return. The state instructions are confusing.
Are 401, 403B or IRA withdrawals taxable on PA state personal income tax?
Before turning 59 1/2?
After turning 59 1/2, but still working?
If they are NOT taxable, how & where do I get them out of gross income?
Thanks! Trying to finish before extension expires!
I have a client who purchased rental RE in 2013 under his name. We are recording rental income and expenses on Sch E. he is not a RE professional.
In early 2014 he felt the need to form a LLC to protect his personal assets.
Just recently he contacted his attorney to have him move the property into the LLC. To our surprise a RE transfer tax based upon the value of the property was so excess that the establishment of the LLC now has little meaning.
I recall reading somewhere that if the conveyance of property is transferred without any monetary consideration the transfer tax is not imposed.
Just trying to get a better handle on this so we can move forward in using the LLC as intended.
Is there a reason that the Defense Finance only witholds 1% not 3.4% ? W2 shows city tax of 735.00 on 73350 city tax w/h . This would be in Scranton. Thank you HJ
Client sold stock in 2013. The 1099-B has 170 entries of stock sales. Does PA accept a copy of the 1099-B in lieu of putting all the entries on the Schedule D? The Schedule D does show statement attached along with the sales prices, cost basis and gain.
Thank you for your assistance!
JoAnn Mensinger, RTRP
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