I’m putting my house up as collateral as a guarantee on a business loan, I have to pay a mortgage on the property, New York State
The mortgage interest deduction should remain in tact even in a situation of cross collateralization, so long as the real property is the primary personal residence.See question
I have a *personal* tax lien, but my shares in an S corp have no lien or encumbrance against them (although technically, any tax lien can be an encumbrance on any property that I own). The sales contract stipulates that the shares cannot have any ...
Who issued the "Personal Tax Lien" - the Feds, NYS or NYC? What notices have been given? I would talk to a tax lawyer to be safe rather than sorry.See question
If you are involved in estate litigation in the State of New York, does state law award attorney fees to the winning party? If so, are there any exceptions or conditions to this? Which statutes specifically address this issue?
The trend is to cite the case of Matter of Hyde in order to argue that the litigant;s petition / litigation was beneficial to the estate and thus fees can be properly recovered from the estate. So, the answer is maybe.See question
My estate lawyer has stolen $450,000.00 from my trust. I am waiting for the court to appoint a new lawyer to take his place. I have been told to also hire a private lawyer to protect my interests and how to get back my missing money. Help.
These are very serious allegations. You should hire a lawyer immediately and demand a full accounting.See question
if i have power of attorney for my mother along with my sister, can she lawfully have me taken off p.o.a. without my consent?
No. Consider filing an Article 81 is mom is incapacitated or a Special Proceeding.See question
I currently have a wage garnishment i need to know if this agency can take my tax return
It depends. Are they a Federal Agency or are the collecting on a Federal Debt?See question
Thinking about moving
Alimony is income for Federal tax purposes. The question is whether you can avoid paying New Jersey State income tax because you are moving to Florida (which has no state income tax).
The answer is that you would be liable in New Jersey up to an including the time you are a New Jersey resident for New Jersey income taxes. That means you should declare domicile in Florida immediately upon arriving and living there. Use this form (this is Broward County or the one for the particular county where you are living):
Also, turn in your NJ driver's license, have all of your mail sent to your new address, register to vote at your new address and join your new house of worship in Florida (if applicable). All of this will show evidence that you are a Florida Resident.
But Beware: If you are present for more than 183 days, New Jersey still may declare you a resident for income tax purposes.
I would speak to you accountant first, and if the amount at issue is substantial, speak to a tax lawyer.See question
The original creditors are amex, citi, chase, and verizon. We had very hard health and economic times merge together in 2011, which caused all of our accounts to be charged-off. The accounts were not sold -- they have, although contracted collec...
DON'T try to pay full value until you speak to a lawyer. Chances are the creditors have already written off the debt / sold it to third party debt collectors. You can take care of this for a FRACTION of the face value.See question
I'm a French citizen, and just became a U.S. permanent resident. Should I pay to the IRS taxes on assets and properties I've purchased in France long before becoming a US resident? Thank you
The answer is: it depends. A US person must pay taxes on worldwide income. A US person also has reporting obligations for foreign accounts. Depending on what the asset is, there may be tax and reporting consequences.See question
According to http://legal-dictionary.thefreedictionary.com/trust, "A simple probate-avoidance living trust has no effect on state or federal estate taxes." What about an irrevocable living trust? Can it reduce estate taxes? Or ...
Yes. Call an estate planning attorney to help put together a comprehensive plan or else the results may be disastrous.See question