In all due respect, I hope your friend is successul and honors your verbal agreement. I highly suggest you and your firend decide how you want the...

Will I still have to pay self employment tax? If yes, how much?

Generally, you only pay self-employment tax when the earnings from self-employment exceed $600. If you anticipate a loss then no earnings from...

The conservator has a fiduciary duty to your grandmother. Suggest you search for an elder law attorney in or around Detroit. Discuss the facts...

Can US company employ remote workers in other countries as full time employees? If so, what are the tax implications for both?

I agree with Mr. Hessen. Services are sourced; therefore taxed, where they are performed. This rule applies to a foreign corporation or...

Irrevocable Trusts

Generally bequests/inheritances are not subject to income tax. Irrevocable trusts are used for estate tax planning purposes. If you are worried...

I need a tax attorney

A husband and wife are joint and severally liable for any taxes due. There are rules that provide innocent spouse relief. No where in your facts...

Are capital gains taxes due since house is sold and I had bought half the house for $1 in 1997. Didn't I inherit the other half

You likley have split "basis" (i.e., an amount that represents your tax cost in the home) since based on your facts you owned a 1/2 interest in the...

Notarizing without power of attorney

First off, sorry to hear of your situation. Secondly, not sure either the notary public or county clerk (assuming not an attorney) should be...

If my mother has to go into a nursing home in NJ, can they access or deplete her IRA? It is currently in mutual funds.

As stated, IRA's are countable assets. A husband and wife are considered one economic unit for Medicaid purposes so all of the assets of both your...

Will and estate?

I applaud you for being proactive. You can search this site for an estate planning attorney in or around Indianolis. The estate planning attorney...