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John P Fazzio III
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John Fazzio’s Answers

1,056 total


  • How long can I really stay in my home after receiving a sherrifs eviction notice?

    I'm senor citizen in my foreclosed home sold at sherrifs sale.

    John’s Answer

    It depends on a large number of factors. You should consult a local foreclosure attorney.

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  • Not sure what my options are. How do I respond?

    Filed a voluntary foreclosure on home property ( VT )1 1/2 yrs. ago. Attorneys for the mortgage co. have made a motion to the court that I pay for services rendered by them. I am not in a financial position to do this or to hire a lawyer. I have ...

    John’s Answer

    The best advice I can give based on such little information is to never let a motion of this time go unanswered as there could be dire consequences.

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  • Why is my lender asking for this? Are they asking me to sign over my rights? Or are they going to transfer property to me?

    Attorneys representing me and my mortgage are trying to stop a sell date. The lender is requesting a quitclaim deed for recorded at the courts.

    John’s Answer

    Like Mr. Boyer said, once you have an attorney, you have to follow their advice. A quitclaim deed is not a bad thing in the right circumstances. Speak to your attorney. They will guide you in the right direction.

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  • What should I do? Should I just let the house go into foreclosure or should I have a short sale of the house?

    My Dad just died in Connecticut and he left a lot of debt on his house. It is several hundred thousand dollars under water.

    John’s Answer

    You need to consult a local foreclosure attorney. If the house is underwater then there is no value to the estate, but it is occasionally possible to salvage an asset like this. It depends on the particulars of the real estate asset in question, the bank that holds the mortgage, and a host of other factors.

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  • Do I have a good foreclosure defense?

    Foreclosure defense? Condo association claims I owe them money. New Property Managment Company is claiming monies owed from when another Management Company was in place. Their accounting sheet states $300 is owed for May 2012. I gave them proof...

    John’s Answer

    Be careful with condominium association fees. There is generally no disputing these. Plus, you can be responsible for all fees, including attorney's fees.

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  • What do I do to ensure that I get paid upon my decision to leave this company? How do I file this job on my taxes?

    My employer is giving me the run around regarding payroll. Upon my first checks due date, my employer quite obviously lied to me and my co-workers with excuses as to why the checks did not arrive. He said thing like he mailed them and could not tr...

    John’s Answer

    You should find a different job. You have rights under labor law to be paid for back or unpaid services. He is probably violating payroll tax requirements. Cut your losses and get out now. You will end up in a worse position by staying. It is not worth working with an employer who behaves in this manner and who is not responsible when it comes to your pay.

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  • First time filling Annual Federal Tax Return

    Hi I live in Irvining Taxes. I am working as a consultant with a firm based in Wasington marryland. This is my offshore job. I work online with them. My annual salary is $26000.My weekly salary is $500.I am paid by my employer every 15 days and ...

    John’s Answer

    Yes, yes and yes.

    You are an employee. Thus, you need to pay Texas taxes as this is where you do the work. And you can file your tax return online using TurboTax or the like.

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  • Do I need to provide insurance documentation for tax purposes when my family is traveling abroad?

    I'm asking about health insurance tax penalty. My wife and son are traveling abroad and will be back to the US in March. Are they required to show health insurance from the country they are visiting? FWIW, I'm not a permanent resident but this yea...

    John’s Answer

    Under ACA they will need to provide insurance to avoid the penalty. I don't think the law makes provision for what nation the policy originates from. If you are filing as a resident alien, I am not sure whether ACA applies to you, and you should call your insurance provider.

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  • What are the tax implications of not authorizing shares in our Certificate of Formation? When will must begin doing this?

    My company is registered in Delaware. We used an online service, Incorporate, to register as an LLC. When we registered our company we did not authorize any shares in our Certificate of Formation. The company has not begun earning revenue, we hope...

    John’s Answer

    • Selected as best answer

    In Delaware, you have to pay for authorizing shares or membership interests. It can be done later. But, this only matters, for tax purposes, if you are gong to be raising revenue by selling membership interests.

    Other than that, an LLC is a pass through and income will be reflected on your personal tax return, or if you have a partner, it will be treated as a partnership, with interests recognized on both owners tax returns via issuance of K-1s.

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  • Can my mother in law put down my daughters name on her tax return to get money?

    My mother in law wants to put my daughters name on her tax return to get some money. I don't agree with that and she wont force the issue but I want to know some information, incase I need to argue it out with her. Only a dependant would be named ...

    John’s Answer

    If your daughter lives with you more than half the year and you provide more than 50% of the income for her care, your mother in law cannot claim them.

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