Will I have to pay taxes on my 401K if I roll it into a roth Ira?

Yes, you will pay taxes in 2012 on a rollover into a Roth IRA. I am advising many of my clients to do this because I am anticipating a significant...

How can i set up my online business properly to not have to collect state sales tax?

You are entering an area hotly contested by the States. Their argument is the sale takes place in their State and therefore there is "nexis" (or a...

If a retired parent turns over his house that is paid for to his child, Who pays property tax and home owners insurance ?

I presume the house was deeded to the child. It is therefore the child's property. The child needs to pay taxes, insurance and upkeep. If the...

Although the debts are your husbands, if you file a joint 1040, the IRS will take all of the refund. You would then be stuck trying to file for...

Is it illegal to get paid in cash for a year,and then get 1099ed at the end of said year?

First, you said you were paid in cash, not a check. It sounds like you were an independent contractor, not an employee. Frankly, being an...

Hello - I was hoping you could help me with a question… Does a company have to register a business loan

Even though you did not ask it, you should consider possibly changing the business from a corporation to a Limited Liability Company. As a LLC, you...

If your husband supplies more than 1/2 of the support and you agree in your divorce Settlement Agreement, then he could claim your son as a...

Do F1 student has to file tax return?

You will receive a Federal Tax Refund unless you have other income during the year. Something seems wrong with your withholding. I suggest you talk...

Will I be in trouble if I put exempt on my w4 and never filed my taxes? or whatever youre supposed to do in April?

You should ALWAYS file Federal and State tax returns. If you do not file a tax return, the Statute of Limitations against assessments and...

I recently won a judgement from a lawsuit where I got $200k. $50k was legal fees. Do I have to report this on my taxes?

First, you did not state where the incident occurred and whether a suit was filed. If the lawsuit was in California, there may be a possible State...