Archived
I live w/my fiance & children. Our home mortgage & title are in my name. Should I get living trust? Would he get home if I die?
Derek's answer
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Answered on April 19, 2019
I would recommend meeting with an attorney to review what happens to your assets and children should you die or become incapacitated as well as...
Archived
What is the process for identifying a revocable living trust's assets if the is no attachment to the instrument indicating such?
Derek's answer
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Answered on December 11, 2018
Are you the trustee of the now irrevocable trust? Are you their personal representative? If so, you likely have the authority to pull tax...
Archived
Can I allow my potential business partner to give his wife equal shares?
Derek's answer
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Answered on December 10, 2018
How have you all agreed and what is your organizational structure? As Jason mentioned, you can do almost anything you want with your ownership...
Archived
How do I go about knowing what my rights are as an S Corp owner when it comes to IRS penalties? Am I forced to do a bank draft?
Derek's answer
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Answered on November 26, 2018
Charles is right - and you should talk to a professional sooner rather than later. A knowledgeable professional can help you determine how much...
Archived
How do I get copy of my deceased mother's fed tax return?
Derek's answer
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Answered on September 04, 2018
Has probate been opened for her estate? If so, have you been appointed as her personal representative? Here's the IRS guidance on getting...
Archived
How do I add my son to a quick claim deed?
Derek's answer
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Answered on August 02, 2018
Jason's solution will get you to the survivorship position you want. You will also want to consider whether your son will be keeping the property...
Archived
How does a CPA allow this to happen? and what can be done to correct this?
Derek's answer
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Answered on January 16, 2018
Your friend should have a tax attorney and/or a different CPA review the payroll over the last twelve months. If the situation is that payroll...
Archived
Can I deed a house to a relative so they can take over the tax responsibility?
Derek's answer
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Answered on November 01, 2017
His ownership should allow him to claim the home as his primary residence (additional facts are needed). That would drop the assessment ratio from...
Archived
What is the best way to distribute money from a trust to minimize taxes?
Derek's answer
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Answered on August 31, 2017
Jason is right in that you need to consult professionals. You need to consider the distributions from at least the perspectives of 1) who can...
Archived
My ex husbands 2013 tax debt was taken from my 2016 taxes. How can I get that money back?
Derek's answer
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Answered on August 16, 2017
Although filing a joint return does typically mean you will be held jointly and severally liable for the tax liability for that year, you may...
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