Henry Daniel Lively’s Answers

Henry Daniel Lively

Newport Beach Tax Lawyer.

Contributor Level 20
  1. What should I do to get back my 2 years of prior taxes that I left with the tax preparer? Do I owe money?

    Answered over 1 year ago.

    1. Charles Adam Shultz
    2. Henry Daniel Lively
    3. Phillip Monroe Smith
    3 lawyer answers

    The bottom line is that your client file if your file and must be returned to you promptly upon request. The CPA must give it to you regardless if he or she thinks fees are owed to them. To not return the file upon request is an ethical violation. Ask for the CPA to return the file in writing and if they do not comply, contact the State Board of Accountancy and file a complaint.

    7 lawyers agreed with this answer

  2. What exactly are the formalities to run S-Corporation (after incorporation)?

    Answered over 2 years ago.

    1. E. Martin Davidoff
    2. Henry Daniel Lively
    3. Christopher Michael Larson
    3 lawyer answers

    How to run an S-corporation is truly beyond the scope of this forum. You must file state forms annually, prepare regular minutes, and maintain the separation between your personal life and your corporate structure. You would do well to retain an attorney or accountant to assist you with this process.

    7 lawyers agreed with this answer

  3. How much money does my small business have to make to pay taxes?

    Answered over 2 years ago.

    1. Phillip Monroe Smith
    2. Henry Daniel Lively
    3. Curtis Lamar Harrington Jr
    3 lawyer answers

    You definitely need legal advice here. You are mixing a for profit corporation with a non-profit entity. This could lead to disaster. Make sure you get the proper advise before you go any further with this.

    7 lawyers agreed with this answer

  4. Getting taxes on my daughter?

    Answered over 2 years ago.

    1. Henry Daniel Lively
    2. Christopher Michael Larson
    3. Steven Anderson Leahy
    3 lawyer answers

    Attorney Larson is correct. You can pass the exemption on to the father with a Form 8332.

    7 lawyers agreed with this answer

  5. Who has the right to claim the child on taxes? the mother or father?

    Answered over 2 years ago.

    1. Henry Daniel Lively
    2. Christopher Michael Larson
    3. Steven Anderson Leahy
    3 lawyer answers

    Since you have the child more than 50 percent of the time you are deemed the custodial parent and he cannot take the deduction unless you release it to him with a Form 8332 or the court orders that he receives the deduction.

    7 lawyers agreed with this answer

  6. How can i calculate with my paystub how much refund will i get from my taxes return?

    Answered almost 3 years ago.

    1. Henry Daniel Lively
    2. Christopher Michael Larson
    3. Steven J. Fromm
    3 lawyer answers

    Your pay stub will provide you with the information regarding your gross pay and your tax withholdings. Take a look at your prior tax return for other deductions that you have taken in previous years to give you a starting point, then scan your check register and credit card statements for others. You can then go on line and use software to do a simple tax projection, or buy one of the available tax programs at your local office supply store or on line and input the numbers. This will give...

    7 lawyers agreed with this answer

  7. Can one homestead income property that they live on? If yes, what are the benefits of doing so?

    Answered almost 3 years ago.

    1. Henry Daniel Lively
    2. Frank Wei-Hong Chen
    2 lawyer answers

    The definition of "homestead" is found in California Code of Civil Procedure section 704.710. This definition makes the homestead exemption available for your house under the following certain conditions: - First, the house is your principal dwelling. - Second, you, as the judgment debtor, or your spouse, resided at your dwelling on the date the judgment creditor's lien attached to your dwelling. - Third, you or your spouse resided continuously thereafter until the date of the...

    7 lawyers agreed with this answer

  8. What if my ex claimed my daughter after i already claimed her on taxes?

    Answered almost 3 years ago.

    1. Henry Daniel Lively
    2. Christopher Michael Larson
    3. Robert Jan Suhajda
    3 lawyer answers

    The custodial parent receives the deduction unless they sign a Form 8332 releasing the deduction to the non-custodial parent. Who ever is entitled to the deduction will receive it. If the mother takes the deduction and is not entitled to it she could be charged a penalty plus interest. It could also be tax fraud.

    7 lawyers agreed with this answer

  9. If you earned unemployment and food stamps and virtually nothing else over the course of 2011, will you have to pay taxes?

    Answered almost 3 years ago.

    1. Henry Daniel Lively
    2. Phillip Monroe Smith
    3. Steven Anderson Leahy
    3 lawyer answers

    Your unemployment income and your money as an independent contractor are taxable. You will also have self employment tax of 15.3 percent of the net income from your activities as an independent contractor. You may be eligible for the earned income credit. It is hard to know exactly where you are at without all the facts of your tax situation. This is also not really the forum for a detailed calculation of your tax return. The best thing to do is have a tax preparer prepare your return and...

    8 lawyers agreed with this answer

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  10. Tax due letter from CA Franchise tax board. Please help.

    Answered over 1 year ago.

    1. Henry Daniel Lively
    2. Donny Emil Brand
    3. Phillip Monroe Smith
    4. Jeffrey Ferris Clark
    4 lawyer answers

    You need to seek the help of a tax professional immediately. This is a sizable problem and warrants the use of a tax attorney. The FTB will cross report this to the IRS and they will make an assessment as well. Your complete tax situation needs to be reviewed to see if the losses you have can offset your liability in any way and what your financial situation looks like to determine what payment options are available to you. I offer a free consultation if you would like me to review your...

    6 lawyers agreed with this answer

    1 person marked this answer as helpful