Archived
The CEO of my CA Corp wishes to drop out, what do i need to do? Should i give him a dollar amount, he is not asking for one?
Mark's answer
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Answered on August 24, 2009
He should sell any shares that he owns in the company back to the company, but the amount for that sale is negotiable and does not depend upon what...
Archived
Can a non profit organization which is just starting appoint Board members or do they have to be somehow nominated and voted in?
Mark's answer
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Answered on August 24, 2009
Your new non-profit organization can simply appoint these Board Members as the initial Board of Directors with a resolution doing so. Your state...
Archived
Do I have to pay tax?
Mark's answer
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Answered on August 24, 2009
If you are buying a house in both your names, the transfer is not a gift to you, but rather he is paying part of the down payment on the house. You...
Archived
My parents want to give me a piece of real estate in Oregon, worth $150,000. What is my tax liability?
Mark's answer
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Answered on August 24, 2009
Ms. Nguyen is correct about the gift tax. Remember, however, that your "basis" in the property will be the transferred basis from your parents, so...
Archived
IRS took out refund. Help.
Mark's answer
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Answered on August 20, 2009
When you file a joint return, the IRS can claim a refund if one spouse owes back taxes. He should try to get this resolved in order to avoid any...
Archived
Payment of medical bills
Mark's answer
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Answered on August 20, 2009
Your payment does not make you liable for future bills unless you sign a third party liability form. You may still want to loan her the money and...
Archived
Tax implications of money transferred from overseas
Mark's answer
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Answered on August 20, 2009
If your parents are going to loan you the money, it should be documented, with a promissory note, and a deed of trust or mortgage on the house. ...
Archived
Question about a landlord
Mark's answer
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Answered on August 20, 2009
In most leases, a Landlord has the right to enter the property in the case of an emergency and to inspect the apartment to make sure that there has...
Archived
Chrysler offered 6,000 pay off but i dont trust collector
Mark's answer
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Answered on August 20, 2009
You should only make payment after you have received a letter offering a full payoff amount. Mark your check "final payment--all amounts due" and...
Archived
Does my daughter's father have to claim the income he makes as an independent contractor?
Mark's answer
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Answered on August 20, 2009
All of this income is reportable and taxable. Although the school districts are not required to issue a 1099-Misc. to him, that does not change the...
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