Archived
I am a licensed tax professional in Ca. Is it "reasonable to use Ca. Standards of $ 12,000 for a $600000 Estate.
Kevin's answer
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Answered on November 19, 2013
You should bill at your typical hourly rate and then petition the court for payment of your commissions. The court in your state (county level)...
Archived
Can an employer take and give you some checks with taxes taken out and some without… is that legal??
Kevin's answer
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Answered on November 19, 2013
See the following excerpt from an IRS publication."
"Employees’ Responsibility
Employees who do not have taxes withheld nor remit them...
Archived
Daughter in middle of divorce - husband was to pay IRS taxes for their business - did not - now IRS wants to take their home.
Kevin's answer
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Answered on November 19, 2013
An IRS generally will not take a primary residence, but on occasion the IRS may try to pursue a primary residence. Call a good tax attorney in your...
Archived
I am opening an Inherited IRA account. Do I have to provide my annual income, Net worth & Income tax bracket?
Kevin's answer
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Answered on November 19, 2013
As my colleague aptly points out this is standard information requested by financial companies when trying to determine your risk tolerance and...
Archived
Quit claimed property. Recently discovered I am not the true owner but responsible for taxes and up keep.
Kevin's answer
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Answered on November 18, 2013
Hire a tax attorney working in Houston if you want to argue the taxes owed. If the amounts still owed are not significant, you might pay it and...
Archived
Tenant evicted by court order , left owing $2500 back rent and $4000 damages-then she filed for bankruptcy,need tax writeoff
Kevin's answer
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Answered on November 18, 2013
As for the damages to the property you might have to capitalize the repair costs and amortize it over 39 years -- the regulations on write offs for...
Archived
I use a Paypal account for business purposes, though I live abroad and am a non U.S. Citizen. Do I have to pay taxes?
Kevin's answer
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Answered on November 18, 2013
Your question invokes a lot of issues related to international tax (potentially tax treaties), the most important being what are you billing for,...
Archived
Who is responsible for taxes when we jointly file IRS return for year we were together?
Kevin's answer
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Answered on November 18, 2013
Instead of refiling separate returns you should negotiate who gets the proceeds from the refund as part of the divorce settlement. Trying to amend...
To report Publishers Clearinghouse prize winnings to the IRS, am I required to sign PCH's Affidavit of Eligibility?
Kevin's answer
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Answered on November 18, 2013
You might want to ask them why they need the affidavit of eligibility. If you agreed to provide it when you initially signed up for their drawings...
Archived
We are a new LLC what do we need to do for taxes for our first year?
Kevin's answer
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Answered on November 18, 2013
If you make no money you will not need to make quarterly deposits of taxes as you will not owe taxes. However, if you start making income you will...
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