Can my mother-in law gift us $200,000 from her annuity and mutual funds, without being taxed and penalized?
Dana's answer
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Answered on September 08, 2022
There are a variety of possible tax impacts from your mother in law "pulling money from her investments". Mutual funds are not cash, they have to...
I won the lottery jackpot, who should I contact? What should I do?
Dana's answer
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Answered on September 06, 2022
Congratulations on your lottery win. I agree with Mr. Isquith, your first call should be to a tax lawyer so can determine what the tax cost of your...
How can I get my baby mother name off my house deed when she hasn’t been there in two years plus she doesn’t pay anything deali?
Dana's answer
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Answered on September 05, 2022
I assume you all bought the house together, or after you got together you added her to the deed. The simple answer is you can't remove her from...
Can family take over mortgage on deceased home
Dana's answer
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Answered on August 31, 2022
Generally the next of kin or heirs of a deceased person can take over paying the mortgage on the deceased's property. You may need to work fast as...
Can you form a non profit without filing a 501c3?
Dana's answer
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Answered on August 31, 2022
"501(c)(3)" refers to the section of the Internal Revenue Code that defines charities, entities that generally do not pay tax on their income, AND...
How can I legally host a boxing match in mine or my friends backyards with entree fees and winning prizes?
Dana's answer
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Answered on August 30, 2022
I don't have experience in this area of business law, but boxing, and hosting events for a paying public is heavily regulated. You need to consult...
Who is next of kin after a father passes?
Dana's answer
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Answered on August 22, 2022
If a person dies and has left a will, then their will controls who gets their property once the will has been proven and admitted to Probate. If...
As a new immigrant, do I need to pay tax on transferring my money from another country to US?
Dana's answer
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Answered on August 14, 2022
Ms. is quite correct. I would like to add a couple points. Merely transferring your own money from your foreign bank account to your US bank...
What tax consequences for heirs receiving proceeds from sale of family land in Georgia?
Dana's answer
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Answered on August 13, 2022
Since I don't know how much the property was sold for, I can't give you an exact percentage for the gain on sale of the property. The taxable gain...
Is this going to affect my green card application?
Dana's answer
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Answered on August 09, 2022
Your filing status as "married filing separate" was appropriate. You are always free to file "married filing separately", even when your marriage...
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