How much do either party pay in fees and taxes when gifting a home to a loved one?

I agree with the prior attorneys' answers. One concern I have is whether you will continue to live in the home after the gift. If no rent is paid...

I assume that the sales tax Ohio is seeking is for sales made by you as a vendor from 2012-2014. Ohio may also be seeking penalties and interest...

I apologize, but I have trouble understanding what your husband means by wishing "to go tax exempt." To secure tax exempt status, an organization...

IS IT LEGAL FOR A PERSON TO REPORT IN THEIR 2014 1099 income received in 2013?

No. I also have some questions with respect to the 55k income. Was this income which should have been reported on a 1099 form or was this income...

What should I do if I used business funds to pay personal expenses and the IRS is asking me why?

If the funds are in your Sub S Corp and, for that reason, considered "business funds", I am not certain you have a problem because you used such...

Tax fraud

Dependents do not need to file the tax return. I wonder if you signed a "joint return." I suggest you employ a local tax attorney as soon as...

Money owed to IRS

This has been done many times, but as the other attorneys have advised you the Government is required to follow a number of procedural steps. As...

My son wants to sell us his condo?he purchased it for 140,000. How does this work without any tax issues or problems for either

You need to see a local CPA or tax lawyer. To illustrate , did your son report your mortgage payments as rents, did your son take depreciation on...

Small Business Taxes for the First Year in Business

There is no exemption from federal income taxes for either the providers of services or the provider of goods. While I am not knowledgeable about...

What are the advantages of making company an llc...how do I proceed...small co. 17yrs...1099 employees ...taxes filed under SSN

If you wish to protect yourself with an LLC, I do not believe you can do so after you added your name to your mother's home. If there is a...