Steven J. Fromm's Answers

Does a LLC need to file taxes if it made less than $1000.00 for the year?

You do not state whether this is a one man LLC. If it is then it is a disregarded entity. As a result you would report the income on your individual return on Schedule C, E or F depending on the type of income involved. If there are multiple members of the LLC then a Form 1065 would have to be filed. There is no exemption because you only earned $1,000. Hope this helps. Please remember to designate a best answer to your question. Mr. Fromm is licensed to practice law throughout...

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Pennsylvania question about parent dying without a will

First, without a will, mom died intestate and the laws of intestate succession would control who gets what. This is provided by statute. Second, your brother is not an executor but may have been named administrator by filing a petition for letters of administration with the register of wills. You had a chance to contest this but not sure where you stand here based on your facts. The administrator is the one who makes decisions for the estate generally. However, he must do certain things in...

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I have a joint bank acct w/ my mom-in-law but it's all her money. After she dies I will divide the $$ up evenly...

The prior attorney offers sound advice. Here is some tax insight and other comments: As to #1: It is not frozen and passes to you by operation of law and under your facts as a constructive trust. You are saying that although legally the trust is yours at death, it was set up with the understanding that it would be used for the boys (estate) benefit. It is not a probate asset. Ast to #2: There will be an inheritance tax in Pa. However, as joint property it would only be taxed on half of...

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Lost will need original but lawyer deceased

Many times the estate of a lawyer has turned files over to another lawyer or firm. Dig deeper here but you usually need the original signed will. Perhaps MA has a statutory procedure that allows a signed copy to be submitted in certain extreme circumstances. Get with an estates attorney to help you with this and the estate administration. For a sense of what is involved in administering an estate in most states, please see the following two articles: Estate & Probate Administration: Do...

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I am a PAresident, pay taxes & want in-state tuition. The public university says I am not. If not PA, then where?

If you were denied at a hearing that is not a good sign. It seems that your domicle is at issue here. Are your registered to vote in PA? Do you have a drivers license in PA? Do you belong to a church in PA? Do you have other factors that indicate domicile? This would be an expensive undertaking to appeal and not sure if you even have appeal rights. You need to speak with an attorney who deals in the education law area. Hope this helps. Please remember to designate a best answer to...

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What is the percentage that an attorney is to get for his compensation as an executor of a will?

Mr Begley gives the relevant law in this area. In addtion be aware that an attorney who serves in both capacities is entitled to a fee for both services but such overall fee must be reasonable. In addition, the total fees of all fiduciaries need to be reasonable also. So the executor fee under Johnson would be split between the two of them; they are not both entitled to such fee. I would speak to these people directly with the law and information you now possess and ask them to reduce the...

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Is my mother's estate at risk? How much should we be paying this lawyer?

Get a new estates attorney as this conduct is unacceptable and questionable at best. First, you and your sister are the one's that open an estate account and have control of the estate monies. A lawyer setting up his own estate account is not a good way to go in my opinion. In 30 years of practice, I have never done it that way. The attorney represents the client and the funds should not be in his control. As to the paperwork, call his office to see if he has sent out the documentation....

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I need to "Lodge" a will; however, the original can't be located. Can I lodge a copy and if not what then?

Both attorneys offer sound advice and answer the question. So you really need to find the original will if possible. Check the decedent's home completely, see if there was a safe deposit box at a local bank and check his checking account for the last few years to see if he paid an attorney. Finally, check the laws of intestate succession to see how you would stand in that case. If it is the same as you would under the copy of the will, then just probate the estate without the will and let...

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How do I report someone for tax evasion and is there a time limit on the year(s) the person did not report their income?

You can utilize the whistle blower procedure with the IRS. Go to irs.gov for more details. The information should be as detailed as possible since the strength of your information has an influence on what your reward may be. As to the statute of limitations, the statute never begins to run and is open forever if there is fraud or the return was never filed. If they understated there income by more than 25%, then there is a 6 year statute of limitations. Hope this helps. Please...

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Does a lawyer need to disclose all assets of an Estate?

The lawyer is legally obligated to disclose such assets and cannot be part of a conspiracy to conceal assets from a court or taxing authority. Hope this helps. Please remember to designate a best answer to your question. Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is sjfpc@comcast.net ,...

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