Archived
Garnishes student taxes from paycheck, will that affect when i file for taxes this year? Will they still take full federal taxes
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Answered on October 21, 2017
If you are due a refund from that federal return, the chances are great that they will take it. I am sorry for your situation but this is the...
Archived
What do I do if I just found out that I owe the IRS money from a previous marriage?
Steven's answer
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Answered on October 21, 2017
Sadly, this is the danger when someone files jointly. The liability is "joint and several" meaning that either one of you can be liable for the...
Archived
Tax Question
Steven's answer
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Answered on October 21, 2017
You have a looming tax problem. US citizens are taxed on their worldwide income and they must file US returns even when they are outside the...
Archived
Pay taxes on court settlement
Steven's answer
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Answered on October 21, 2017
Generally, recoveries for personal injury are not taxable income. However, to be sure you need to get with a tax attorney or tax accountant to have...
How much alamony can I receive before claiming it?
Steven's answer
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Answered on October 21, 2017
Technically, all alimony is taxable income. If this income and any other income that you have exceed the filing threshold for your status, then...
I am a beneficiary to deceased parents bank issued CD. How much can I withdraw as cash before I have to declare for tax filing
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Answered on October 21, 2017
The principal is not subject to income tax. The interest up until your dad's date of death or until it is cashed in will be taxable to him under...
Archived
I need someone to help me with a tax question as far as how many dependents I can claim on my W4
Steven's answer
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Answered on October 21, 2017
Both of the esteemed attorneys offer excellent guidance. Remember that the W-4 is a rough tool to have your withholding taxes equal your expected...
Archived
Is Pennsylvania state income tax withholding required by employer if employee is working full time in Texas ?
Steven's answer
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Answered on October 19, 2017
PA can only tax residents of its states or those who work in the state. Sounds like you do neither so you would not be subject to PA taxes.
HOW DO I SELL AN INHERITED PROPERTY THAT MY BROTHER DOES NOT WANT TO SELL?
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Answered on October 17, 2017
You needed to hire an estates attorney 4 years ago. There are so many practical, estate administration and tax complications involved here that...
Can a trust pay all taxes due on a final 1041 or must they be passed through to the beneficiaries?
Steven's answer
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Answered on October 17, 2017
Generally, in the final year of a trust all DNI is distributed to beneficiaries and is reported on their respective K-1s. As a result, the trust...
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