Questions answered by Steven J. Fromm

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How can I obtain the 1099-INT from my spouse? I pay the mortgage but the account is in his name. We're separated and file sep.

Steven's answer | Answered on September 09, 2010

I agree with attorney Lively; you are not entitled to deduct the interest or taxes under the Internal Revenue Code. Only the owner can deduct...

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Am I subject for a gift tax?

Steven's answer | Answered on September 09, 2010

I agree with the prior attorney's advice. However, in response to the new information you provided, you may be able to make the argument that he...

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Will the state take my husband return if we file joint?

Steven's answer | Answered on September 09, 2010

I agree with the prior attorney. Note however, that married filing separately generally results in higher overall federal income taxes, but to...

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Do i have to pay inheritance taxes?

Steven's answer | Answered on September 09, 2010

North Carolina has repealed its inheritance taxes and imposes an estate tax only if an estate exceeds $2 million. Secondly, surviving spousal...

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What are the tax implications of converting from a C corp to S corp?

Steven's answer | Answered on September 09, 2010

I am confused here. You are the buyer of the shares of stock so you would have no capital gains on getting back the 51% shares. The foreign...

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I failed to apply for Cert of Auth NYS. Been paying sales tax on time using EIN. Can I file for cert now w/o incurring penalty?

Steven's answer | Answered on September 09, 2010

It never pays to wait. Bite the bullet here and file the Certificate of Authority immediately. The main benefit of the Certificate is that it...

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My brother passed away and my dad is the executor of the will. Do we have to sell his personnel stuff to paid his bills.

Steven's answer | Answered on September 09, 2010

The prior attorney offer sound advice. One other point. If your brother withdrew his IRA in 2010, then there will be federal income taxes (and...

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Can I petition to remove the executor of my father's estate if I believe they are not capable of fullfilling his wishes?

Steven's answer | Answered on September 09, 2010

An executrix must safeguard and preserve and maximize estate assets. If they fail to do that then they are breaching their fiduciary duty. She...

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My wife lived with her grandmother and took car of her 9yrs ago her grandmother told her there was a cd set up for all the grand

Steven's answer | Answered on September 09, 2010

If there is a will or an estate administration, these are a matter of public record with the register of wills in the county of the decedent. ...

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Am I responsible for my husbands bills (medical, credit card etc.) after he dies?

Steven's answer | Answered on September 09, 2010

If these debts are in his name alone and you did not co-sign or guarantee them in any way, then you have no legal obligation to pay them. The...

Steven J. Fromm's Answers (9012)

How can I obtain the 1099-INT from my spouse? I pay the mortgage but the account is in his name. We're separated and file sep.

Am I subject for a gift tax?

Will the state take my husband return if we file joint?

Do i have to pay inheritance taxes?

What are the tax implications of converting from a C corp to S corp?

I failed to apply for Cert of Auth NYS. Been paying sales tax on time using EIN. Can I file for cert now w/o incurring penalty?

My brother passed away and my dad is the executor of the will. Do we have to sell his personnel stuff to paid his bills.

Can I petition to remove the executor of my father's estate if I believe they are not capable of fullfilling his wishes?

My wife lived with her grandmother and took car of her 9yrs ago her grandmother told her there was a cd set up for all the grand

Am I responsible for my husbands bills (medical, credit card etc.) after he dies?