Thomas Walton Dallas’s Answers

Thomas Walton Dallas

Flowood Tax Lawyer.

Contributor Level 7
  1. Tax Question! We have not filed our 2009, 2010, or 2011 returns and we owe $142,000 for 2008. Should we get a tax lawyer?

    Answered over 2 years ago.

    1. M. Robert Perez III
    2. John Adam Wetenkamp
    3. Christopher Daniel Leroi
    4. Raymond F. Haselman
    5. Jonathan Paul Decatorsmith
    6. ···
    7 lawyer answers

    yes as you are flirting with criminal sanctions.

    4 lawyers agreed with this answer

  2. My father is dying of cancer and he has a will, but my step mother is planning to change all titles over to her name b4 he dies.

    Answered over 2 years ago.

    1. Judy A. Goldstein
    2. Paul A. Smolinski
    3. Henry Repay
    4. Steven M Zelinger
    5. James P. Frederick
    6. ···
    7 lawyer answers

    The first question is why the change over. If the change is just to avoid probate and not change the flow of assets contrary to your father's intent that may be fine. Watch out if the assets are highly appreciated as that change over may eliminate the step up in tax basis. Second marriage situations are difficult and good commication is required to avoid issues.

    3 lawyers agreed with this answer

  3. Is there a self employment tax in NJ?

    Answered over 2 years ago.

    1. Michael T Millar
    2. Christopher Michael Larson
    3. Thomas Walton Dallas
    4. Curtis Lamar Harrington Jr
    4 lawyer answers

    Self employment tax is a federal tax and applies to all states including Jersey.

    3 lawyers agreed with this answer

  4. Where do i turn for help, when sibling are trying to control / bully you ?

    Answered over 2 years ago.

    1. James Jenkins Mills
    2. Pedro Eduardo Krompecher
    3. James P. Frederick
    4. Steven J. Fromm
    5. Thomas Walton Dallas
    5 lawyer answers

    You need a durable poer of attorney to take care of your mther's finances and a heath care directive to make the medical decisons. You also need a written agreement for you to get the house. Also be wary in case an action is started to open a guardianship for your mother and take her away. A Revocable Trust would be a good idea to avoid probate. You did not mention Medicad\id planning but that may facor in also.

    2 lawyers agreed with this answer

  5. What do I need to do to start an online business that provides services to many different states, possibly different countries?

    Answered over 2 years ago.

    1. Benjamin Weaver Glass III
    2. Ronald Lee Bell
    3. Luca Cristiano Maria Melchionna
    4. Thomas Walton Dallas
    4 lawyer answers

    An S corporation for income tax purposes will be a good place to start as you can receive a salary and the rest is paid out to you in dividends and about payroll taxes. You may want a service company to operate in a state with no income tax and have fees paid to that corproation to reduce income tax.

    1 lawyer agreed with this answer

  6. How are LLCs taxed?

    Answered over 2 years ago.

    1. Richard Albert Luthmann
    2. Marc J. Miles
    3. Pamela Koslyn
    4. Peyton Hunley Robinson
    5. Thomas Walton Dallas
    5 lawyer answers

    If you do not take any further action, the entire amount of income will be taxed on Schedule C of your 1040; you will also incur payroll taxes. You could elect to be taxed as a corporation: either as an S or a C.