Archived
In Arizona, if a person who has a trust makes a loan to someone without notifying the trust and then dies, can the trust collect
John's answer
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Answered on October 26, 2013
If the loan did not come from funds of the trust then it is not a trust asset. If the trust grantor made the loan from personal assets outside if...
Changing a business entity ( S Corp) to a non profit?
John's answer
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Answered on October 26, 2013
Your goals and objectives would need to be explored here but short answer is no...yo would have to start a new company and I question the objective.
When an Executor has filed the Form 706 estate tax will IRS follow with a final letter of acceptance?
John's answer
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Answered on October 25, 2013
IRS Issues the executor (or designated representative ) Letter 627, Estate Tax Closing Letter when it has processed/reviewed the Form 706 and it is...
Archived
Primary residence and a rental, want to sell both to buy one primary residence, how to avoid capitol gains on the rental in CA?
John's answer
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Answered on October 25, 2013
Consider looking at doing an IRC Sec. 1031 (tax deferred) transaction for the rental property. You can sell the primary (exclude the gain) and...
Archived
I was let go by my employer because I brought his fraud, tax evasion and other financial improprieties to his attention.
John's answer
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Answered on October 25, 2013
In addition to the labor claims my colleagues speak to, also see IRS whistleblower provisions at this link for some guidance on how to report the...
Archived
How long should I save tax returns?
John's answer
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Answered on October 25, 2013
All my colleagues provide sound views. I only add that since you were divorced there may be issues in the divorce decree/separation agreement that...
Archived
How can I get a religious organizations (non-profit) financial report?
John's answer
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Answered on October 25, 2013
Try Guidestar which will let you see what info is available for the entity you are asking about. http://www.guidestar.org/
Does trust exist when grantor and grantee are same
John's answer
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Answered on October 24, 2013
The concept of grantee you can set aside. The person who contributes assets to a trust is the grantor. The person who manages the trust is the...
Archived
If you live in NY and you have tax debt from taxation and finance(sales tax), can you move in another state to avoid to pay?
John's answer
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Answered on October 24, 2013
Moving does nothing---you still on the hook for the debt.
Archived
How to get the court recognize a sub trust
John's answer
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Answered on October 24, 2013
If the RLT was outside the scope of the probate court then the subsequent death would not change anything in this regard absent facts not being...
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