My son owns a non-profit corporation dedicated to the arts. He contends that a documentary film/video is not legally considered an art form and that if his company supports the production of a documentary, he might get called on the carpet by the ...
While I agree with everything said to this point, and I certainly agree with your Son's need for legal/tax counsel ( based on his statement)... I am not sure if we addressed an unasked, underlying question. If the board of the non profit (assumably your son runs said board) decides that documentary films our outside of the scope of their charter documents, they are probably under no obligation to support the project. Further if they have recieved donations from supporters and then engage in activities completely outside of their charter documents.... They may get themselves in trouble. But this analysis needs to be done by a qualified attorney who understands non-profit and tax law, and who can review their specific circumstances.See question
for thirteen and a half years i have lived in the same government subsidised apartment complex in california
Mr. Kelly's answer is correct, I would add, however, that you would need to file amended tax returns, requesting the credit. Frankly, you need to speak to a CPA.See question
The Heloc was not disclosed to all the beneficiaries, I found it by accessing public records. The remaining parent has now passed away, if we have 11 percent interest in a property that is worth less than it was, and a Heloc was attached which sai...
Since you were not a party to the loan, and had no knowledge of it... your liability would only be limited to the extent of your interest in your parent’s estate. Meaning, that the lender could not go after your personal assets directly, unless you received some type of inheritance from the estate itself. Most likely this loan, if done on a personal residence, falls under the "one action rule" in California, meaning that if this is a primary loan on your parents residence, then unless the lender goes through "judicial foreclosure" (extremely rare at the moment), the liability on the loan would be limited specifically to the ownership interest in the property for the loan was created.
The long and the short of this is that your inheritance might be affected, but that is most likely where your liability would end.See question