Archived
Taxes.. I have 50% custody with my child mother she filed taxes every year started in 2010.. when is it going to be my turn
Kevin's answer
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Answered on November 18, 2013
It is not a simple matter of sharing every other year. The tests for claiming a dependent with the IRS relate to some somewhat complex rules based...
Archived
Can a US citizen give a non-US citizen a cash gift of $14,000 and have a gift tax exemption?
Kevin's answer
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Answered on November 18, 2013
You can generally use the gift tax exemption of 14k per year to make a gift to any person -- it does not have to be an individual in the US (could...
Archived
Can I claim my out of pocket medical expenses for out of country services in my US tax?
Kevin's answer
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Answered on November 18, 2013
You should be able to claim your medical expenses as a deduction if you itemize your return. The medical bills above 2% of your income would likely...
What is the maximum amount of money that a green card holder could transfer to his US account? is it a taxable income?
Kevin's answer
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Answered on November 18, 2013
There is not a limit on funds generally you can transfer into a US account. There may be gift tax implications if your parents gift you the money....
I want to open a software consulting business, but which one is better: S-corp. or LLC?
Kevin's answer
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Answered on November 18, 2013
Contact a local New York state licensed attorney to research the filing fees for keeping an LLC in existence. An S-Corp and LLC largely provide...
Archived
What if I asked for more child support and he agreed without a legal order - what do I legally have to report on my taxes?
Kevin's answer
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Answered on November 18, 2013
Make sure the income is not properly classified as alimony or some other sort of property settlement that would be reportable.
Archived
Reporting extra 20k income without 1099 form?
Kevin's answer
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Answered on November 18, 2013
You are required to report this income even if the employer does not properly report a 1099. You can certainly deduct related expenses as...
Archived
Do I need to be a legal business to collect donations or membership dues for a local cycling club?
Kevin's answer
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Answered on November 18, 2013
You can certainly collect the donations without setting up a legal business entity, but I would recommend setting up some form of corporate or...
Archived
Can my legal guardian claim me for tax purpose for instate tuition?
Kevin's answer
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Answered on November 18, 2013
You need to check the state specific laws in the state you want in state tuition for. The state might use federal tax filings as an indicator of...
Archived
What paper do I file with court to be able to receive my income taxes?
Kevin's answer
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Answered on November 18, 2013
You need to contact a family law attorney about this. You need to find out the status of any claims she has as far as where they are in the filing...
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