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Emma Jane Hilton

Emma Hilton’s Answers

8 total

  • In which state/states would I owe income tax?

    Emma’s Answer

    First and foremost you are taxable in CO the question is can CA tax you. In order to do so there needs to be a nexus to tax you, some sort of connection, and hiring an independent contractor to work remotely who never steps foot in CA does not in and of itself create a nexus. However if you and meetings in CA that would be a different story. In the event that both states are subject to tax don't panic it's not a double taxation, to simplify (and it is a simplification) CO will give you a credit for what you pay in CA up to the amount you would've paid to CO on the same income in CO. A credit is a dollar for dollar reduction in your tax liability to CO. A good tax professional should be able to walk you through this. Hope this helps.

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  • How is repayment of SSDI benefits to the LTD company calculated to include tax payments and not pay taxes twice?

    Emma’s Answer

    • Selected as best answer

    Some of what will happen is based in part on timing, meaning if you get SSDI in the same year you apply the LTD company is repaid that year and it will all wash, the issues pop up when it occurs over two different tax years. SSDI is taxable the same way SS is taxable, meaning it depends on your other income, and amount. LTD is taxable depending on the type of policy that was purchased. As such there are too many variable to give you a good answer 100%. I have seen this a few times and there are different ways to handle it depending on the situation and my advice is what until you get the SSDI then find a good tax professional in your area that can help you navigate it that year.

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  • How do we fix this and is this something h&r would have to pay since they did our taxes

    Emma’s Answer

    Always go back to your tax professional when you get letters from taxing agencies I can't tell you how many times the state/fed are wrong and things just need to be sent in to be cleared up. In addition often companies have a policy (but not always) that they will reimburse you for any penalties and interest but only if you come to them within so many days of receiving the letter.

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  • How do I remove my name from the deed? Am I responsible for unpaid property taxes/liens if the mortgage company does not pay?

    Emma’s Answer

    My advice is to go to a lawyer who does real estate and possibly bankruptcy in New Hampshire, as this is never a simple fact pattern. However here is some general info in NH the real estate taxes will go ahead of the mortgage at foreclosure so those will get paid, but if they are not paid prior to the foreclosure in New Hampshire the town will file a tax lien at the registry of deeds. Taxes in Hudson are due in July & Dec this lien will go under both your names and will be a matter of public record which has it's own consequences. As for the condo fees in NH they tend to be aggressive about going after back condo fees. In the Hudson/Londonderry area try calling the Law Office of Gould and Gould 603-434-3437 to set up a consultation.

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  • Is a 1041 decedent's final tax return required?

    Emma’s Answer

    You may not be "required" to file a tax return because there was no income however it was a "final" return you may want to as the expenses of the estate will pass to beneficiaries on a K-1. Which means you can take that deduction on your taxes on your schedule A under "other deductions" usually subject to a 2% limitation. Unfortunately without knowing everything I can't give you more than the general answer, my suggestion would be to ask the tax professional who prepares your taxes what effect these excess deductions would make. Good luck.

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  • How much do i have to pay tax? Approximetly?if it doesn't have any exemption for household Income ?

    Emma’s Answer

    Filing your taxes is never a yes no question because so much of it depend and is effected by other things such as additional income, are you eligible for the earned income tax credit, does the self employment tax apply (I believe it does) and are all of your expenses allowable. It appears from your posting that this is your first year doing this so I suggest you go to a local tax professional to walk you through what is and isn't deductible. It will help you track your records better and will be well worth the investment.

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  • Tax offset help

    Emma’s Answer

    First call the IRS to determine exactly why they offset your refund if it was for only one of your student loans(either you or your husband) then the other can fill out an injured spouse form and still get their share of the refund (see form 8379). If not then the IRS has no choice but to send it to the entity requesting the offset and you will have to deal directly with them. In the meantime you want to resolve the issue so that it doesn't happen again next year. Good Luck.

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  • Are the attorney fees tax deductible ?

    Emma’s Answer

    The fees are deductible if you itemize and subject to the a 2% AGI limitation (line 23 of your schedule A) As your benefits were deemed to start from the date of your application, because you got denied the amount of your social security may include more than one years benefits as such there may be a special way to determine how much if any is included in your taxable income. My suggestion is to go to a tax professional this year.

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