Can I move back into a long term rental to avoid capital gains taxes on the future sale?

Even if the home becomes your residence for two years and you then sell it, the depreciation must be recaptured. It is not sheltered by the...

How can I get POA over my Dads finances?

Unfortunately it is too late to get a power of attorney. You will need to file a petition to have your father declared incompetent and have a...

How are taxes handled through an estate?

If your mother named you as a beneficiary, the amount distributed to you from the plan will be added to your other taxable income, so you will pay...

I want to start a small business in NC. I want to choose the best business type based on my personal situation.

WIth an S Corp or an LLC that is disregarded for income tax purposes, any net income will be reportable to you regardless or whether you leave it...

I agree with my colleague, but I would encourage you to meet with a Florida estate planning attorney to review your documents and advise you...

Do I need to file 1401

Do you mean IRS Form 1041 (income tax return for estates and trusts)? If so, it depends on the type of trust. If it was designed as a "grantor"...

Florida does not allow non-resident personal representatives (executors) unless they are relatives. So your friend cannot be your personal...

North Carolina trustee for Massachusetts trust

If there is no NC beneficiary and no NC source income, no NC return is required. Perhaps a MA attorney can opine on the necessity of filing a MA...

The format of the TIN does not make a difference. Income in an irrevocable trust is taxed to the grantor if the grantor retained certain powers...

Yes, You will have to have a new deed prepared, signed, and recorded.