Henry Daniel Lively’s Answers

Henry Daniel Lively

Newport Beach Tax Lawyer.

Contributor Level 20
  1. Am I personally liable for corporate income tax in California?

    Answered almost 3 years ago.

    1. Phillip Monroe Smith
    2. James H Sutton Jr.
    3. Henry Daniel Lively
    3 lawyer answers

    You are not personally liable for the $800 minimum tax unless you dissolve the corporation. Assets of the Corporation are subject to lien and levy for the payment of these taxes, but not your personal assets. Do not dissolve the company until you discuss this situation with an attorney.

    6 lawyers agreed with this answer

    1 person marked this answer as helpful

  2. I have paid interest on a contract for deed. Do the receipients need to give me their SSN's so I can deduct this from my taxes?

    Answered over 2 years ago.

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

    You cannot force them to send you the id number. However, send them a form W-9, Request for Taxpayer ID Number. Prepare a letter and send it to them with this form and let them know that you intend to report the interest and their names to the IRS. In the future, get the ID number at the closing of the deal to exactly avoid this situation.

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  3. Tax question, 1099 received nearly triple what my actual earnings were. How should I react?

    Answered almost 3 years ago.

    1. Thuong-Tri Nguyen
    2. Henry Daniel Lively
    3. Charles Adam Shultz
    3 lawyer answers

    The first thing you need to do is get her to amend the 1099 for the correct information. If she will not, then you will need to report the error to the IRS. Be prepared to document what actually was paid to you. Your accountant should then report the correct amount of income on your tax return. The IRS will probably still send you a notice on this since what you report will not match the 1099 you received. Have your file ready with the letter you sent to the employer, their refusal to...

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  4. How do I report an online business for suspected tax evasion?

    Answered almost 3 years ago.

    1. Christopher Michael Larson
    2. Henry Daniel Lively
    3. John Addison Vos
    3 lawyer answers

    I agree with attorney Larson. You really have nothing more than a suspicion. The IRS typically wants more than this. They want facts and hard evidence to support your claims. You also need to be careful about what you say. If you do not have hard facts to support these claims you could risk getting sued by this company.

    8 lawyers agreed with this answer

  5. Non-resident tax return

    Answered almost 3 years ago.

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

    Amend your return for 2010 filing the correct tax form. Next, file the correct tax form for 2011. Use a tax professional to file the form for you if you do not feel up to the task.

    8 lawyers agreed with this answer

  6. Do I pay taxes on money given as a gift if im in the United States but am a Canadian Citizen?

    Answered almost 3 years ago.

    1. Henry Daniel Lively
    2. Abel Lopez
    3. Christopher Michael Larson
    4. Charles Adam Shultz
    4 lawyer answers

    You are not taxed on gifts as the recipient even when you are a U.S. Citizen. So no, you will not be taxed. You may have reporting requirements to the U.S. government depending on how much money you move into the country.

    8 lawyers agreed with this answer

  7. Are my LTD taxable in CA if they were not taxable in WA?

    Answered almost 3 years ago.

    1. Henry Daniel Lively
    2. Phillip Monroe Smith
    3. Christopher Michael Larson
    3 lawyer answers

    These would also be a non-taxable benefit in California.

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  8. I have a healthy WC settlement arriving very soon and I am concerned IRS will levy because of back tax issues.

    Answered almost 3 years ago.

    1. Henry Daniel Lively
    2. Phillip Monroe Smith
    3. Mayer Nazarian
    3 lawyer answers

    Since you filed the returns as Joint returns you are jointly liable with your husband for these taxes. The IRS has a 10 year statute of limitations on the collection of taxes. It is possible from the dates that you stated that some of these taxes are past the collection statute. This should be analyzed. It will depend on when the taxes were filed. When you receive the money into your bank account the IRS can levy on it. The best approach is to now establish a voluntary payment plan or...

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  9. Should vacation time be taxed if part of severance pay?

    Answered about 1 month ago.

    1. Henry Daniel Lively
    2. Dana Whitney Atchley
    3. Bruce Givner
    3 lawyer answers

    Yes, this is taxable income. Section 61 of the code says this is taxable income, unless there is an exception in the code. There is no exception for this.

    5 lawyers agreed with this answer

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  10. Is it possible for an individual (Who does NOT operate as a business entity) to issue a 1099 to a person?

    Answered over 1 year ago.

    1. Dana Howard Shultz
    2. Henry Daniel Lively
    3. Andrew B Gordon
    3 lawyer answers

    Not only is it possible, but it may be required. Obtain a W-9 from the person to get the information necessary to complete the 1099, then complete the 1099 and prepare a 1096 form to go with it. If you do not know how to do this, you should hire a local tax professional to do it for you.

    6 lawyers agreed with this answer