Made 7k from 2 member llc. I loaned this 7k to another 3 member llc to buy property. Do i have to pay personal inc tax on 7k?

You must report as income the amount stated on your k-1 from the LLC. If the income reported is $7,000 you must report it. The loan is of no tax...

Can you find out if a person has a CPA, or Tax preparer's license, in any public records??

Usually the state board has a record. For example, in PA there is the Pennslyvania Institute of Certified Public Accountants (PICPA). You can...

Why form a delaware corporation?

If you are a small business there is no reason to incorporate in Delaware. In fact, it will cost you more, since you will have to get a...

Funeral expenses

No it is not your obligation. It is the responsibility of the estate. Any assets he died with are part of his probate estate and these assets are...

As next of kin what are my legal rights for my deceased father

If you are asking bout your legal duties as an executor, please see my article under legal guides entitled Legal Duties of Executors at my profile....

My wife died left no will how do i close bankaccounts

In most states, you need to probate the estate and be named as the administrator of the estate where there is no will. Generally you go to the...

My husband is executor for a trust that provides that he can receive a condo in advance of death. What should we be aware of?

The biggest factor is that if you receive the property by gift you take a carryover basis. This would be what was paid for the property plus...

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In probating the personal property, is the marital property included in the estate?

This can get very dicey and depends on who can prove ownership. For example, is the house in the decedent's name alone or is it held with you...

My mother died in new jersey what is the law concerning beneficiaries of annuities and life insurance

The probate process relates to those assets in the decedent's name that are not disposed of by beneficiary designation or operation of law. Here...

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Is it possible in KS to add an addendum to a last Will so as not to have to re-write the entire document?

A codicil is the anwer here. However, it may be better to have only one of your children serve as executor and have the other as an alternate. It...