Is a savings account income for an LLC.
As a general matter, the interest is income to the person/entity whose name is on the account as the account owner. If the account is in the name...
New York, NY
Tax Lawyer at New York, NY
Practice Areas: Tax, Tax Fraud & Tax Evasion ... +2 more
As a general matter, the interest is income to the person/entity whose name is on the account as the account owner. If the account is in the name...
If you simply cash the check without depositing it into an account that has your name on it, then your creditors won't be able to reach it. To...
Generally speaking, s-corporation status is only for tax purposes and generally doesn't apply to non-tax issues (unless the non-tax law expressly...
I am going to move your post to the Immigration practice area as you are more likely to get a response there.
Your situation sounds complicated and so I would recommend you consult with a tax professional who can discuss all the facts with you in detail and...
That depends on a number of different facts that haven't been mentioned. As a general matter, the person who owns the property and has the right...
Did you have a property foreclosed on, was there a deficiency, and was that deficiency forgiven?
That all depends on what the IRS letter said.
Other than doing a 1031 like-kind exchange - and I have no idea whether that would work in your situation (because I don't know all the facts) -...
Your question is a little unclear: you were, in fact, the seller, correct? If so, the pragmatic question is whether you are in any worse position...