What portion of a owner financed property is considered taxable after the owners death.

Need a bit more information to give a complete answer but it sounds like mother-in-law no longer owns the property, but instead now owns a Note...

Peter and Carlo are right on point. Your husband's children from the first marriage complicate this even more, even though they are adults. You...

How can I close a sole proprietorship if I owe the IRS?

This appears to be more of a tax question than a business question. Since this is a sole proprietorship only your grandfather (or his agent...

Do I owe money to my brother?

You will want to work with an attorney to resolve this, even if settle amicably with your brother. The initial answer depends on whether the deed...

.What is considered the cost basis of real estate when it was given to a person for $1.00??

Agree with Steven. Enlist help of CPA or attorney now to properly calculate the basis and determine any estimated tax payments you might need to make

S Corporation that has 3 equal partners can 2 of the 3 agree to dissolve the company?

You cannot dissolve the corporation without notifying your third shareholder. You should have Bylaws that set forth the process for making...

Local taxes filed jointly or separately?

You will have to review the instructions for the returns (usually posted on websites now), but in most PA jurisdictions the tax is based on your...

This is a tricky situation and many unanswered questions. Your husband will definitely want to meet with an experienced attorney before leaping...

There should be regular communication from the executor to the beneficiaries, but unfortunately that does not always occur. Since it has been more...

Can the irrevocable trust sell my house that was transferred to it?

i agree with the first two answers. an attorney will have to review the actual trust agreement to determine your options.