What are the tax implications of taking money directly through a QDRO in a divorce?

The QDRO allows the transfer of retirement benefits from your spouse's account to you. This is a tax-free transfer. Nevertheless, as soon as you...

What type of partnership should I consider and what are my next steps?

You should not form a partnership, rather you should have your attorney set up a limited liability company. This could be a multimember LLC with...

Yes, you can both file "married, filing separately." The difference between married filing jointly and married filing separately relates to your...

In NJ the development is prohibited from excluding children and those under 55 as long as one person is 55. Nevertheless, there may be many...

I filed married/separate last year and then my husband died with no money & debt. Can I file Single?

Since your husband died last year, you are considered single for the entire year and can file as single. If there is nothing in his estate you do...

Am I subject to self-employment tax?

Yes, as a sole proprietor to file a schedule C on your 1040 and are subject to self-employment tax. But, remember, you have many deductions you can...

Who is responsible for paying the real estate in a short sale?

In NJ, RE taxes are typically pro.-rated at settlement. The mortgage company usually demand $X at settlement. Usually, the company pays the taxes...

Since you are not doing business in California, you do not have to register the LLC in California. Simply being a resident of the state does not...

What kind of penalties am i looking at for filing unknowingly incorrectly as single when i am married for 9yrs?

I suggest that you just file as married filing jointly this year. If the IRS audits are questions you then you should retain a tax attorney to...

Ownership of Joint account?

If the account is a simple joint account it usually has the right of survivorship. I suggest that your mother speak with the estate attorney to...