Archived
I live in Montana and owe $45,000 plus in income taxes. When filing bankruptcy is tax debt included in that?
Dana's answer
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Answered on December 10, 2014
There are a number of different issues that affect whether or not tax debt is dischargeable in bankruptcy, including several minimum time...
Archived
What happens if I deposited an emptyy envelope of 1000 and took out 500 and returned it within a few hours
Dana's answer
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Answered on December 10, 2014
You've most likely committed a crime and should be discussing this with a criminal defense attorney and not saying anything about it to anyone...
Archived
Stipluation of Settlement I received from plantiffs attorney, I am the defendant and what to make sure I am protected properly.
Dana's answer
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Answered on December 10, 2014
As a general matter this appears to be a basic settlement and doesn't appear to "screw" you once you've paid the money you've agreed to pay. But...
Archived
Joint Tenancy with right of survivorship
Dana's answer
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Answered on December 10, 2014
There's no way to say if the deed is valid without reviewing the entire deed and surrounding circumstances.
However, that phrase doesn't...
Archived
Just received$22,000+ inheritance. I received letter from someone saying I owe $4000 in taxes. I am wondering if that is acc
Dana's answer
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Answered on December 10, 2014
There is no way to give you an accurate response because we need to know, at a minimum, who sent you the letter and what sort of tax it involved.
Archived
Revocable Trust-v-Irrevocable: Tax consequences. Gift Tax, Income Tax, Estate tax, acquiring basis. Settlor is non resident.
Dana's answer
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Answered on December 10, 2014
The first thing to get clear is what, exactly, your father wants to achieve. Is he trying to make what amounts to a completed gift to your...
Archived
The IRS is charging me taxes on a reduced principal program on my mortgage from 7 years ago .
Dana's answer
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Answered on December 10, 2014
What would you like to resolve? If you had the principal on your loan reduced then, generally speaking, you realized income. There are several...
Archived
I won some prizes on a game show. Value is approx 5k. How do I figure how much I'll be taxed? Also I'm a CA resident.
Dana's answer
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Answered on December 10, 2014
You must include the fair market value of the prizes as taxable income.
Archived
Have a machine that we sold. Can the owner have the check made out to him and if so, what are the tax ramifications for that?
Dana's answer
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Answered on December 10, 2014
Not a good idea because it muddies the water. Generally speaking, if the owner retains the money then for accounting/tax purposes it would be...
Archived
Divorce: husband is buying me out of our home. From my research I will NOT be taxed by IRS as income True? No alimony involved.
Dana's answer
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Answered on December 10, 2014
Generally speaking, transfers incident to divorce aren't taxable events.
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