Archived
In Indiana if a person in 1999 lists person A as beneficiary to a profit sharing account but in 2007 in a will lists person B as
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Answered on January 08, 2010
Generally and in most states, wills speak to only those assets that are not disposed of or designated otherwise. So beneficiaries of retirement...
Archived
What is my tax burden on $475 per mo for 3 yrs in alimony from upcoming divorce? Free-lance income $20-25,000 per year
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Answered on January 08, 2010
The alimony is taxable income to you in each of the 3 upcoming years, while the property settlement is not taxable income. The federal single tax...
Archived
Can I claim someone living in my household who is not related to me but on social security?
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Answered on January 08, 2010
There are various test for claiming exemptions for non-relatives. The two that are most relevant and probably disqualifiers here is that this...
Archived
I'm looking at starting my own Photography business. Confused as whether to be a Sole Proprietorship or LLC -
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Answered on January 06, 2010
The prior attorneys have explored the legal protections afforded by an LLC. An S corporation also offers limited liability protection. However,...
Archived
Starting out - Photography Business - Part Time
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Answered on January 06, 2010
As a single member LLC, you report your income on a Schedule C on your Form 1040. You will be responsible for the income and social security...
Archived
I would like to start a Photography Business should I do sole or LLC
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Answered on January 06, 2010
If you form an LLC and are the sole shareholder (member), you need not elect to be treated as a pass through entity. Under IRS rules, such an...
Archived
How can one pay taxes if they work for CASH?
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Answered on January 06, 2010
The Internal Revenue Code states that income is from any source derived and it must be reported. This is the case even if your employer fails to...
Archived
S-Corp 75% Owner Needs the remaining 25% shares.
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Answered on January 06, 2010
You may be too late, as you can not force him to sign such an agreement. Generally, these agreements have "bad boy" provisions, that allow for the...
Archived
Can I closed my probate case left open by my attorney?
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Answered on January 06, 2010
If he has filed to perform timely, you need to send a written demand to your lawyer to complete the estate administration immediately. If he has...
Archived
Share holder Buyout Agreement
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Answered on January 06, 2010
The prior attorney offers sound advice. Note, that a shareholder agreement also allows you to set a value for your shares of stock for estate...
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