Archived
Official Check - (1) who's asset is it before it is cashed, and (2) is it a gift, in tax terms, before it is cashed?
Irena's answer
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Answered on March 19, 2017
The check belongs to her, and the fact that it is an official check (money was already withdrawn from your account) makes it even more so. As to...
If a sole shareholder dissolve a c corporation with 70 thousand loss and no assets remain is he eligible capital loss in his1040
Irena's answer
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Answered on March 19, 2017
Corporatation stock is considered a "security" within the meaning of IRC Sec 165, and a worthless security can be written off as a personal capital...
Archived
I am the administrative, do i need my brother permission to sale?
Irena's answer
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Answered on March 18, 2017
I agree with my colleague, but I would add that you should be aware that upon the sale of the condo, you will likely be liable to your brother for...
Archived
I have O-3 visa, I haven't been working in the US, no income in the US. Do I need to do anything, like filing a tax return?
Irena's answer
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Answered on March 16, 2017
You do not need to file a tax return.
Archived
Does a tax refund have to be split with spouse if I file married separately ?
Irena's answer
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Answered on March 15, 2017
There is no requirement to split your refund with your spouse.
Archived
Is that true?
Irena's answer
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Answered on March 15, 2017
Typically, this is true. However, if there was a "clerical error" made by the Department of Finance, the corrections are retroactive for 6 years....
Can DACA recipients buy a house?
Irena's answer
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Answered on March 15, 2017
The short answer is "yes" - even foreign citizens without any status in the U.S. can purchase properties here. What happens to the property if you...
Archived
Do I have to submit tax transcript with N-400? For some reason I cannot get it through IRS website/phone.
Irena's answer
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Answered on March 15, 2017
This seems more of a naturalization issue than a tax issue. I cannot say why you cannot get a transcript by calling the IRS - but they should be...
I currently live in a property that is in my deceased mother's name. How do I get it transferred to mine? How much will it cost?
Irena's answer
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Answered on March 14, 2017
There are too many issues here to resolve on your own without an attorney's help. From the facts you presented, it appears that your sister would...
Archived
My mom is buying a business with my aunt and will own 50% she wants to put her portion under my name. How will this affect me?
Irena's answer
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Answered on March 13, 2017
If your mother is purchasing a business and putting it under your name, she is effectively gifting you with this share of the company. Depending on...
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