Since the business is entirely separate from your existing business, it should be a separate LLC. You should have your tax and business attorney...

As a 501(c)(3) charity in the US, can we be deeded a donated house in Puerto Rico with a quick claim deed?

From a tax standpoint, you can be given real estate in Puerto Rico by Quit Claim Deed. There may be a limit on the donor's deduction. That should...

I put in 150,000 can I write the whole thing off?

Determining when an investment is totally worthless is a little tricky. If the company is not completely out of business you may have difficulty...

How can I partner with my friend while ensuring the separation of our assets and liabilities?

You are going to need to hire a good tax and business attorney. It may be possible that you set up a separate entity, such as an LLC to acquire an...

State tax lien and short sale

Unfortunately, your information is not complete enough to give a solid answer. However if it is a federal tax lien, and it is more than 10 years...

Cccoukd this be true and how can i check?

This is a complete scam! Do not talk to these people or give any information. They will try to use this as part of an identity theft...

Does an S Corp pay tax on receipt of loan payments? Also, does an individual pay tax on return of capital contributions?

Whenever a corporation (or individual) borrows money, it is not taxable income to the corporation. When it repays the money, it is not a deduction...

Property in Husbands Name. Rental Income in wife's name

If you file a joint return, it is not an issue because the income and expenses are joint. If you file separately, you may need to change the...

Will Purchasing Home Under a Living Trust Protect Me From An Old Tax Lien?

It is a little more complex. You will need to set-up a LLC or Corporation and have everything done right. Please hire a good local tax lawyer....

Does ANYONE, including the IRS have the authority to confiscate private property without a court order or other judicial action?

Yes, the IRS can file Federal Tax liens, levy bank accounts, wages, personal property and vehicles. They will not offer "proof." You need a good...