Archived
I want to deed a second home to my two sons. I need to avoid gift tax and I need to do this properly so there are no questions
Jeffrey's answer
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Answered on February 12, 2014
Please consult with a tax attorney or tax CPA. There is a very good chance that no gift tax will be due on this transaction.
Archived
Do I qualify as a "real estate professional" for tax purposes?
Jeffrey's answer
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Answered on February 12, 2014
Very likely yes. Provided it is indeed full time, and, if and when you are audited in the future, you have a log book detailing the hours you...
Archived
Paid my ex a cash settlement per our divorce agreement, can I deduct this on my income tax?
Jeffrey's answer
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Answered on February 12, 2014
Based on what you told us, the answer is likely not. What does the decree say about alimony?
Archived
Tax Fraud?
Jeffrey's answer
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Answered on February 12, 2014
Filing a correct and accurate return would not increase the chances of an audit.
Archived
Tax Fraud anf Forgery
Jeffrey's answer
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Answered on February 12, 2014
What was the result of his income tax filings? If the two of you owe tax, you would be a prime candidate for the innocent spouse program. In any...
Can you be charged with theft of motor vehicle, if vehicle was in your name and you have returned vehicle?
Jeffrey's answer
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Answered on February 11, 2014
Who did you return the vehicle to????
I doubt you can be charged with possession of stolen property, so what would the crime be? If anyone...
Can I get AD VALOREM Tax refund?
Jeffrey's answer
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Answered on February 11, 2014
Great question, but my guess is the answer is no. Although I have not researched this for you, the tax is based on the value of the property on...
Archived
If my husbands wages are attached (for a civil judgement against us) can they take our taxes too?
Jeffrey's answer
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Answered on February 11, 2014
No. Only a government authority can intercept a tax refund, and even they would have to notify you.
Archived
I havent filed taxes in the last 3 years.
Jeffrey's answer
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Answered on February 11, 2014
A bigger issue than the IRS coming after you for money is the possibility that they will investigate you for failing to file (which is a criminal...
Archived
Deductibility of a legal settlement payment as a FORMER employee
Jeffrey's answer
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Answered on February 11, 2014
Without doing any research yet on this, I would have to say that my impression is you could indeed justify this deduction. Be prepared, however,...
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