If someone has Medicare and/or Medicaid will they pull assets such as money from accounts or the home to "pay back"

First off, everyone is entitled to Medicare at age 65, even Bill Gates. Medicare Part A covers hospitalization and Part B, doctors,...

NJ medicaid question

Hi: This is an elder law question; not tax so switching to elder law. Yes, there are limits. Generally no more than $2,000 in resources (e.g.,...

Can we purchase her house at full market value. Would this cause problems with acceptance into Medicaid

Hi: generally the house is exempt as a resource for Medicaid. There is planning that can be done to protect some of the proceeds in a sale. You...

Same as above

Hi: No. There is no gift exclusion for Medicaid purposes. Any transfer in the form of a gift will give rise to a penalty period for Medicaid...

How to gift taxes work in Pennsylvania? Will we have to pay anything to the IRS?

Hi: Your boyfriend needs to speak to an elder law attorney ASAP. Transferring assets creates the penalty for Medicaid (not Medicare). Also, your...

What are the filing requirements for NJ member of a Delaware LLC?

Hi: A single member LLC is disregarded for tax purposes; therefore, the income or loss of the SMLLC would be reported on Sch. C. The K-1 from the...

What can I do to recoup the past wrongful deductions and have them stop deducting FICA tax.

Hi: It may be possible to file Form 843 with the IRS to obtain a refund. This is only a temporary fix if payroll does not fix the issue. Good luck!

I failed to file taxes for the last 3 years. How bad is this for me? I will for sure file this year.

Hi: I will assume that because you did not work in 2013 and 2014 you did not have a filing requirement. The instructions to Form 1040 for 2013 &...

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Tax owe to California but I live in nj?

Hi: Find a CPA. You can go to the NJ Society of CPA website. www.njscpa.org. If you have never worked in CA, CA does not have the right to tax...

Hi: Suggest you seek a MD business attorney via this site "Find a Lawyer." That person can help you properly establish the entity and discuss how...