I want to remove my name from a property while still maintaining ownership. Maybe I can put it in an LLC?
Irena's answer
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Answered on July 21, 2020
Transferring your property into an LLC can provide privacy and asset protection. An experienced real estate - tax - business attorney can advise on...
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How do I add someone name to my llc?
Irena's answer
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Answered on July 06, 2020
Different sets of documents are required depending on the intended role for your sister.
If you are adding her as an owner, an attorney can...
Archived
Immigrant taxed on income earned before becoming permanent resident?
Irena's answer
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Answered on July 02, 2020
The date you became a permanent resident is irrelevant to the tax filing requirement. Generally, if you meet the Substantial Presence Test, you...
Archived
I have purchased a apartment under my name I’ve recently decided to rent it out ?
Irena's answer
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Answered on June 28, 2020
There are no significant tax advantages to reporting rental income and expenses under an LLC or an S-corp vs. your own individual tax return. Both...
Can you charge retail sales tax instead of paying wholesale sales tax if you resell a product?
Irena's answer
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Answered on June 25, 2020
You should charge your customers sales tax not to “recoup” your costs, but because it is the law to charge sales tax to the end user. Of course,...
Archived
What are legal issues with a landlord/rent verification form for a mortgage application?
Irena's answer
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Answered on June 15, 2020
The biggest legal trouble for your landlord would be you refusing to pay rent for your illegal apartment. It does not sound like you would consider...
Archived
Will providing a 1099 for last years 2019 tax return enough for filing the I-864, or do I have to provide more documentation?
Irena's answer
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Answered on June 12, 2020
You cannot receive both a W2 and a 1099 for the same paycheck. Accordingly, if you received a W2, you do not need a 1099. Furthermore, you could...
Archived
IRS Form 709 related
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Answered on June 07, 2020
Each individual files their own Form 709 if their gifts to any individual during their tax year exceeds the annual threshold. Spouses may not file...
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I want to know what can and cannot be done as I am highly stressed? This is in regards to Business law (I Think)
Irena's answer
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Answered on May 03, 2020
Please clarify your question. When you say “what can and cannot be done” - what do you mean?
Archived
Company has no payroll and paystub
Irena's answer
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Answered on March 14, 2020
You are considered and would file as self-employed, reporting all income and your expenses related to this job on Schedule C of Form 1040. In...
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