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Do I have to pay taxes in every state for starting an online personal training, nutrition counseling business?
Eric's answer
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Answered on June 02, 2015
this is a fairly complex question involving "nexus" which means your connection to each state and what resources you have, if any, within each...
What are IRS gift and/or capital gain tax implications of quitclaim real estate deed?
Eric's answer
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Answered on June 01, 2015
I disagree with the previous answer. When a mother "gifts' her property to her children reserving a life estate, the entire value of the property...
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In Mass can the irs state and feds garnish my social security dueto owing back taxes.
Eric's answer
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Answered on June 01, 2015
Yes, they can, but that doesn't mean they should, or that you cannot ask them to cease. BUT if you are in bankruptcy they cannot levy social...
Archived
Does having $10000 in cash deposited in two installments raise any tax issues?
Eric's answer
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Answered on May 20, 2015
Generally you do not have to report cash deposits on Form 8300 unless you are in a trade or business. However, the bank will most likely report the...
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My son wants to sell us his condo?he purchased it for 140,000. How does this work without any tax issues or problems for either
Eric's answer
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Answered on May 05, 2015
There are more issues here than just gift taxes and income taxes. You should have received good tax advise before setting up such an arrangement...
Archived
Do I need an attorney to help me settle a federal tax dept?
Eric's answer
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Answered on May 05, 2015
Yes, you certainly need to get a tax lawyer to help you resolve your debts. Otherwise you will not be aware of the many choices you have in...
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Recourse available from IRS if denied claim towards important documents lost by them?
Eric's answer
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Answered on May 04, 2015
This is really not a tax question at all. It would appear that the IRS did all they could. I have never given the IRS original documents ever so I...
Archived
Do you have to pay Sales tax on car in MA even if it has been paid in NA?
Eric's answer
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Answered on May 04, 2015
The short answer is no, if you buy a car and paid a sales tax where it was bought, you do not. Since the car is not a "new purchase", it's not...
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After 32 years of marriage, my wife walked out. I have no idea where she lives, she took all the 2014 tax paperwork with her.
Eric's answer
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Answered on April 29, 2015
You raise many questions. They cannot be answered in this forum. However if she filed a joint return without your permission you can unwind that....
Archived
Do I need a personal income tax lawyer?
Eric's answer
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Answered on April 29, 2015
Absolutely you do. It's easy to amend your return and remove the cancelled debt as income. Do so ASAP.