I move around a lot. Is it better for me to set up my LLC in a no-income tax state like Nevada or Wyoming?
Eric's answer
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Answered on July 11, 2016
Where you form an entity has no bearing on where you need to file or pay taxes. You pay taxes in every state in which the state has "nexus" to your...
Archived
Taxes and a pain and suffering lawsuit
Eric's answer
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Answered on July 06, 2016
You should not have your lawyer or you sign a settlement agreement until it's been reviewed by a tax lawyer. There are issues that need to be...
Can someone report to irs for being paid under the table?
Eric's answer
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Answered on June 30, 2016
This is not a tax question but a criminal act and should be reported to the police.
Archived
Do I have to pay gift taxes if I open an account under my name abroad (~$50K) and give access to my mother to use for expenses?
Eric's answer
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Answered on June 27, 2016
Not unless she uses more than $14,000 Ina year. Then you won't "pay" taxes but will file a gift return if it's over that amount. But you can give...
Archived
MA estate tax on property in that State-- At owners death, no cap gains due, but will the state tax on that total amount.
Eric's answer
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Answered on June 21, 2016
There are two things going on at the same time. If your taxable estate (gross estate less debts including mortgages) and expenses are under...
Archived
How do I answer a complaint to for close rights of redemption?
Eric's answer
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Answered on June 16, 2016
The tax title means the town or city "owns" the property now BUT it's subject to redemption by you until they "close" out that right which is what...
If you have unvested stock in an account maintained outside of US, do you have say YES on schedule B under foreign account repor
Eric's answer
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Answered on June 16, 2016
The "unvested" stock is yours and although it's subject to forfeiture in the future under certain circumstances, it may not count unless the stock...
Archived
Estate tax exclusions, Maine 5,000,000. vs Massachusetts 1,000,000.
If I sell my residence in MA and change my residence to ME
Eric's answer
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Answered on June 05, 2016
If you truly change your state residence to Maine then you are taxed in Maine but if you still retain assets in MA you will have to probate here in...
Can the IRS put a Tax lien on a Disney vacation club membership?
Eric's answer
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Answered on May 22, 2016
Yes they can and would if they know about it. It's not an item they would normally know about so while they can may not as a practical matter.
Archived
Should I submit the W8BEN form, or ask for a W9 / other form ?
Eric's answer
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Answered on May 03, 2016
First, the prize is income. Yes, submit the form. You can have tax withheld and still file a US return as a non-resident and you might get a refund...