Archived
I am named co-executor with my brother for my Dad's estate. Dad and my brother are Illinois residents I am not. Can I be C/E
Steven's answer
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Answered on January 13, 2010
The answer here really rests with how much you trust your brother and if he can in fact be trusted. You surely can and should be a co-executor and...
Archived
If my boyfriend and i get married will my old state and fed tax debt and penalties become his? can they levy his income and home
Steven's answer
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Answered on January 12, 2010
The prior attorney offers correct advice. In addition, you may want to consider an offer in compromise with the IRS. This program can facilitate...
Archived
Payment plans
Steven's answer
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Answered on January 12, 2010
Generally, yes they will work with you. But any payment plan will only work if you keep current and enter into an affordable (doable) arrangement....
Archived
How do I show the IRS I sold my Home to my LLC?
Steven's answer
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Answered on January 12, 2010
I am not clear on your question, but as to the rental property owned by an LLC here are some points to keep in mind. If the LLC is owned only by...
Archived
Trust Issue...
Steven's answer
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Answered on January 11, 2010
The real question here is who does the attorney represent. If it is not your mother exclusively, you need to have someone representing only her...
Archived
Trusts
Steven's answer
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Answered on January 11, 2010
I agree with the prior attorney, but just note that to win these type of cases you need to have some strong and compelling evidence. So make sure...
Archived
Can I deduct the airfare for a mission trip?
Steven's answer
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Answered on January 11, 2010
The following excerpt from IRS Publication 526 should give you guidelines for the appropriate tax treatement for your charitable...
Archived
Can my parents buy a second home and my family occupies the house
Steven's answer
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Answered on January 11, 2010
First, your receipt of a bequest from a will or from your father as a gift does not result in taxable income to you. So you would not have to pay...
Archived
Can I deduct property taxes on income tax return for my home in foreclosure?
Steven's answer
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Answered on January 11, 2010
Individuals are cash basis taxpayers; when they pay deductible expenses they can deduct them in the year paid. Since you have not paid these...
Archived
Do I have to pay federal tax on a workmans comp settlement
Steven's answer
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Answered on January 11, 2010
Publication 525 states that amounts you receive as workers' compensation for an occupational sickness or injury are fully exempt from tax if they...
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