About Mark_5

Employee Tax Expert

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TurboTax Live, Biz-Tax Tax Expert, CPA MSA-Tax - Experience including construction, entertainment, medical, restaurant

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Solved Re: Advice about filing a 1040ES for the first time during your firs...

JR,Thank you for your follow-up question.For $55,000 gain less the standard deduction $15,750 = $34,250.You will have an additional standard deduction for being...

Mark_5

3

Updated Jul 17, 2025
Solved Re: Advice about filing a 1040ES for the first time during your firs...

Greetings JRIf you are a single taxpayer and your only income is the capital gain if it is long term.Consider the $50,000 gain less the standard deduction $15,...

Mark_5

6

Updated Jul 17, 2025
Re: First Time - Single Member LLC Filing as an S-Corp

LLC's for the most part don't have what you would really call shares. They are more aligned with what a partnership has which is ownership percentages, so it wo...

Mark_5

Updated Sep 14, 2024
Re: Tallie LLC questions 1-31, #17

Clothing expensesfor consideration are normally items not worn outside of work. Items that can also be used as street clothes are not deductible. They need to b...

Mark_5

Updated Jun 06, 2024
Re: Tallie LLC questions 1-31, #26

ForeignTravel Expenses are fully deductible if you spend 100% of your time abroad for business. But if you participate in nonbusiness activity (sightseeing, wi...

Mark_5

Updated May 22, 2024

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Date Registered	‎May 21, 2024 10:07 AM
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