I have full physical custody of my children and my ex says he has the legal right to claim one of them on his income taxes?

He has no right to claim them if you do not give it to him. The only way he can claim them is if you sign the Form 8332 and he attaches it to his...

If we go to court over a Will, which document stands up?

I doubt the lawyer would testify in this fashion as this is an admission of failure to properly draft the will. The reality here is that the...

A former friend is 3 months behind on a promissory note in Kentucky, what can I do?

Well, it seems you made the initial investment without advice of counsel, and then you entered into this loan without advice of counsel and now you...

If you never filed this return, then the statute never started to run. This is why it is always important to file returns even if the liability is...

Do i need to pay tax ?

The prior attorney offers accurate advice; namely, gifts are not taxable income to you. Also, note that PA takes the same approach. In addition,...

Should my partner and I transfer the property we just purchased to our LLC for tax purposes

One tax point to keep in mind is the impact of local transfer taxes. For example, in PA a transfer of real estate from individuals to an LLC would...

What are the limits of liability for my LLC

First, as to the loans and leases: So long as you did not personally guarantee or sign additionally in your individual capacity, then you would...

Can I incorporate a new S corp if I have a current federal tax lien on my personal record?

There would seem to be no IRS rule that stops you from incorporating your business when you have a tax lien. If you intend to pay off the lien...

Took income from irrevoc. trust last year. What category on 1041 does this fall under?

The accountant needs to report the income of the trust in its various categories as required and as indicated on page 1 of the Form 1041. If the...

My dad passed in 2009. Theres no will so can the children fight the wife for the land?

The prior attorney offers excellent advice. Be aware that without a will, your dad's assets will pass according to the laws of intestate...