Archived
Can I give money to a friend to invest in crypto currency on my behalf? by can I mean without breaking criminal or federal laws?
Irena's answer
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Answered on January 05, 2018
"Might" is an understatement. There are a lot of complicated issues with the arrangement - tax, contract, securities, to name just a few.
Archived
Can a nonprofit organization (i.e. church) lose its tax exempt status if it allows a for profit business to utilize its space?
Irena's answer
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Answered on January 05, 2018
Tax-exempt entities are allowed to engage in "related" and "unrelated" business in addition to their primary exempt mission, as long as the revenue...
Archived
I131 reentry permit questions
Irena's answer
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Answered on January 02, 2018
Based on your question, I would estimate that you are about to spend at least $2,300 in just application fees, and I would strongly advise you to...
Archived
Will it get cancelled automatically or in the future Ill be in trouble for it ?
Irena's answer
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Answered on January 02, 2018
The lawsuit that was filed is your claim - you wouldn't "be in trouble" if you leave it along, you will simply lose the opportunity to get what you...
Archived
What is a no basis step up in order to save estate tax if Coop Apt rented 2 yrs (death 2012, sold 2016) No Trust?
Irena's answer
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Answered on January 02, 2018
You are confusing capital gains taxes with income taxes.
Step up in basis may apply to increase the basis in the property to determine the...
Archived
Owing to The IRS 30 Thousands in Sales taxes From a retail store I had 3 years ago?
Irena's answer
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Answered on December 29, 2017
Typically, you can negotiate on penalties, but not on interest. The probability of success depends on the stage of the process, and at this point...
Archived
If my father made an irrevocable trust on a home but was deported when I was a child and a lien was put on the house is it mine?
Irena's answer
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Answered on December 29, 2017
If the property was auctioned off, it no longer belongs to the trust. However, the trust may have a claim for any possible equity in the property...
Archived
I am getting a loan from friends/family in India to buy house in the US. How do I report this to IRS ?
Irena's answer
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Answered on December 25, 2017
There is no requirement or mechanism for the recipient to report gifts or loans. However, make sure you keep accurate records indicating gift and...
Archived
Supplemental Needs Trust?
Irena's answer
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Answered on December 23, 2017
I am not aware of trust low-income services, but I would urge you to consider different attorneys based on their ability to offer you a...
Archived
If someone co-sign on a home a month ago what can i do to remove them off the deed before a year what step 3347-785-3786
Irena's answer
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Answered on December 18, 2017
It does not matter whether they “co-signed” 2 months ago, yesterday or 20 years ago. If this person is in the deed, the only way to get them off is...
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