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Robert Scott Williams
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Robert Williams’s Answers

123 total


  • Irs trying to collect back taxes

    the irs has sent a letter to my payroll dept wanting to garnish my wages for Dec 1997. I thought they could not do this after 10 years had passed.what can I do

    Robert’s Answer

    You need to check on the timing of the actual assessment of the December 1997 tax. The 10 year statute runs from the date the taxes were assessed. You should contact the IRS (800-829-1040) and request an account transcript for this tax year. You will find the assessment date on the account ranscript.

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  • I am living in my mothers home. It has been willed to 7 children. We are all adults. They want to charge me $200 a month.

    I am told that this money will go to fixing up the home. Can they legally do this if they are not paying $200 a month also?

    Robert’s Answer

    I assume your mother passed away, and now the 7 children own the home. You are residing in the home currently rent free. Now the siblings are asking that you pay rent. The answer is that you should pay rent for your use of the resident. What the money is used for does not matter. A resonable alternative is for you to move out, and the house be sold. Then each sibling can receive 1/7 of the cash proceeds from the sale. Imagine that the other 6 owners of the home are not related to you. Would they let you live there rent free? What arrangements do you think they would want? Be reasonable about your situation. Hope this helps.

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  • I em soon to get married but my boyfriend has not payed taxs in a long time will they come after me

    will they garnish my wages

    Robert’s Answer

    His old separate taxes are his personal responsibility, not yours. The government will generally not go after your separate assets to satisfy your boy friend's debts. However, if you have any joint assets the government may pursue these to satisfy any debts to them. Also, if you get married and file joint returns, you can be responsible for all the taxes owed. There is a way to separate joint tax debts, but it takes time and costs money to accomplish. On a practical level, if you keep your assets separate from your boy friend/husband you will minimize the possibility of having your assets used to pay his tax debts. The government will not garnish your wages for his debts. Hope this helps.

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  • Llc registered office (PA) and place of business (Fl) not the same. What state do we pay taxes in? what type of taxes?

    We would like to set up an llc. We own a house in pa, but we live in florida. The registered office would be in pa (our house), but we would conduct our business in florida. So the registered office is not the llc's place of business. We would get...

    Robert’s Answer

    Florida does not have an individual income tax. Whether or not you need to pay PA personal income taxes depends on your connection with PA, and will be determined under PA law. The LLC will have to report and pay corporate income taxes in Florida.

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  • My ex-wife wants 80% of my 2008 tax return, do I give it to her?

    Divorce papers stated we were to file 2007 seperate and she would recieve 80% of my return. It doesn't state this is to contuine each year. Just for 2007. However she is calling now demanding and treating to take me to court if I don't give her...

    Robert’s Answer

    You question is not a tax question. It is a question that is answered in your divorce settlement or decree. If the document says for 2007 only. Then that is likely the asnwer. You should check with your divorce attorney to confirm your reading of the divorce settlement/decree.

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  • How can I withdraw funds from my IRA?

    I have a tax deferred IRA pension plan set up with my labor union. I have been contributing into this plan for 9 years. Last January, I was laid off, and the prospects of returning to work realistically are next year. I am afraid I won't be able ...

    Robert’s Answer

    You need to obtain a copy of the pension plan agreements to determine under what circumstances you are allowed to withdraw the funds. The plans are different, and you need to see exactly what your plan provides.

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  • What is the best way to set up investment properties, partnership, S corporation (3 properties or more)

    I read that its best to own real estate under a corporate unbrella for tax purposes..............................thanks

    Robert’s Answer

    It is generally not a good idea to own real estate in a corporation - S corporation or regular corporation, especially if there is financing on the property. A limited partnership or a limited liability company taxed as a partnership will probably be the most efficient vehicle that also provides liability protection. Before you make the investment, you should get with a tax attorney who can help you go through the pros and cons of each entity type.

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  • Brokerage accounts.

    If my mother opens a brokerage account - and I contribute money to it. Is there a MAX on how much I can contribute? And after she pays her taxes on any gains, is there a MAX on what she could transfer back to me? We have a joint checking acco...

    Robert’s Answer

    I appologize. I never answered your direct question. There should be no limit to the amount that is placed in the brokerage account, provided the account is not an IRS or other retirement type account. There can be gift tax implications to the transfers depending on the amounts.

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  • Brokerage accounts.

    If my mother opens a brokerage account - and I contribute money to it. Is there a MAX on how much I can contribute? And after she pays her taxes on any gains, is there a MAX on what she could transfer back to me? We have a joint checking acco...

    Robert’s Answer

    The joint account and comingling of funds create numerous potential problems. The issues largely relate to who owns what portion of each account. Who should be paying the taxes on the income earned in these accounts? Who owns the accounts in the event of one of your deaths? Are there taxable gifts being made between the two of you? If you are putting the money in, and your mother is becoming the owner, there could be a gift tax consequence. What if there is a creditor claim against one of you? How will you establish who owns what portion of what account. If you really wish to have these joint accounts you should seek the assistance of a qualified estate planning attorney to help you properly document and handle these questions.

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