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Henry Daniel Lively

Henry Lively’s Legal Guides

321 total


  • How to Prepare for an Audit with the IRS

    Don't Panic Read the letter you received from the IRS carefully. Does it require you to visit with the IRS on a date specific, or does it just require you to provide information? An office audit ca

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  • Top Ten Fatal Estate Planning Mistakes

    No Plan The biggest mistake most people have is not having a plan at all. 60% of people simply do not have a plan at all. No Incapacity Planning Did you know that you are more likely to suffer incap

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  • Is My Canceled Debt on My Home Taxable Income?

    What is Canceled Debt? If you borrowed money to purchase your residence from a commercial lender and the lender later cancels or forgives the debt through a loan modification, short sale, foreclosure

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  • Are Short Sales and Refinances Included in the Mortgage Forgiveness Debt Relief Act?

    If you have a Short Sale are you covered by the Mortgage Forgiveness Debt Relief Act? The short answer is yes. If the debt is otherwise qualified debt that was used to buy, build, or substantially i

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  • How to Reduce Self Employment Taxes

    How Are You Currently Filing Your Income Taxes? Are you currently filing you business tax return as a partnership or a sole proprietorship? If you are, your income from the entity is treated as 100%

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  • How much mortgage interest can I deduct?

    How Much Mortgage Interest can I deduct as a homeowner? So just how much interest can you deduct from your home loan? This is a basic tax question that is often answered incorrectly. You may not de

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  • Increasing Your Cash Flow with NOL Carrybacks

    NOL Carrybacks Are you looking for a way to increase your cash flow in a troubled economy? Well, look no further -- The Federal government is here to help. One of the favorable changes that the Oba

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  • New Homebuyer Tax Advantages

    New Homeowner Tax Advantages So you just bought your new home and you are wondering what tax advantages it is going to offer you, or everyone has been telling you to buy a home for the tax advantages

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  • Is Tax Planning Legal?

    Is Tax Planning Legal? I often get the comment "Isn't tax planning illegal, or at the least unpatriotic?" When I get this comment I love to quote the following case: Gregory v. Helvering, 293 U.S.

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  • What are the basic documents that should be included in an Estate Plan?

    Basic Estate Planning Documents The following documents should form the basis for your estate plan: 1) Living Trust - A revocable trust that forms the basis for your estate plan. Your assets will

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