My 87 year old father lives in his run down beach front home. If he sells will he be killed in cap gains?

While there are tax benefits to homeowners who sell their primary residences, you might consider advising your father to continue to hold the...

I married a man who owes back taxes a huge amount, I have never filed with him, yet IRS is linking me with him. How can this be?

The IRS cannot hold you liable under the facts presented. Correspondence from the IRS usually has a telephone number at the top of their letters. ...

Lost receipts for expenses should I amend the tax return?

I agree with the other attorney answering your question. Even If the deductions are legitimate, you, unfortunately, may lose part or all of your...

Can I deduct my on-site apartment as a rental expense when I am doing my taxes for the IRS?

It is my view that you cannot deduct your apt as a rental expense. The Code has strict rules for deducting home office expenses, and I don't...

Am I responsible to pay taxes on the second mortgage that is being forgiven from boa as part of a forgiveness program.

I apologize but I am confused by the facts presented. I am confused as to how you will make a profit of 20k on a house that is upside down. As...

What kind of attorney can help me understand the tax implications of selling an investment property?

I recommend you employ a local tax attorney. I believe he will advise you will recognize taxable gains when you sell the farm. I suggest the...

Can I receive a gift of $14,000 from someone and then, in turn, gift $14,000 to that person's special needs trust?

I believe the IRS could claim that the gift to the handicapped relative is the last step of a "step transaction" and that the gift to the trust...

Can a loan made to the corporate be without interest?

In my opinion, the IRS can impute interest. You would be wise to employ a local tax attorney or CPA to advise you with respect to such a loan and...

Is the name of the member who is listen on an LLC EIN protected from the public?

As the other attorneys stated, there are other means for getting such information. This is for informational purposes only and should not be relied...

In my opinion, you will have to register the LLC as a foreign LLC in Mo. Thus, you clearly stated you will be working on the business in Mo. This...