Archived
Is a parent responsible for taxes owed of a deceased child?
Charlotte's answer
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Answered on June 18, 2015
If your daughter had any assets in a bank account or 401K, IRA, they need to be liquidated for taxes. You will also need to file a final tax...
Archived
I am required to include my Tax Income and Bank Balance on my son's FAFSA application. Why is this not protected or secure?
Charlotte's answer
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Answered on June 17, 2015
Your tax dollars at work, my friend. The left hand doesn't talk to the right.
Archived
I did a Sec. 1031 Exchange and acquired two replacement properties. How should I allocate the additional cash paid?
Charlotte's answer
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Answered on June 17, 2015
You should pay for a tax attorney's opinion letter. These deals can be complicated.
Archived
As a business owner I want to know if by paying for 100% of my employees' benefits I can pay less payroll taxes. Details below:
Charlotte's answer
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Answered on June 17, 2015
See an employee benefits tax attorney and an accountant. But basically, if your comp package includes items that are deductible as costs to the...
Archived
What can de done if the spouse doe not give w2's, tax returns, 1099's and current pay stubs by April 16th per the divorce decree
Charlotte's answer
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Answered on June 17, 2015
I agree with David. You can also file married filing separately and/or request an extension with the IRS so you don't need to file by October. Go...
Archived
My house going for default tax auction in August, trying to do short sale but wife is on title and can't be located.. NEED HELP
Charlotte's answer
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Answered on June 17, 2015
You can't do a short sale without her and a short sale in this case won't help you. The house is paid for. People do short sales when they owe...
Archived
Inherited annuity that reached maturity but had no distributions taken during annuitants lifetime --
Charlotte's answer
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Answered on June 16, 2015
Have a tax attorney review the contract and give you an opinion as to the tax consequences. These are complicated. If the Annuity company doesn't...
Archived
Someone claim that give me money, and report to thr irs
Charlotte's answer
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Answered on June 16, 2015
The IRS will never call you. This is a scam that the IRS warns of in their "dirty dozen" tax schemes to look out for. There is a number on the...
Archived
How to estimate tax liability if 1099 is issued in the case of surrendering house in lieu of mortgage debt repayment?
Charlotte's answer
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Answered on June 16, 2015
The 1099-C should be for the difference between the fair market value of the property at the date of recording and the mortgage debt. If the...
Archived
My son claimed his son on taxes then the mother knowingly filed after. She was denied the first time she said my son had no righ
Charlotte's answer
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Answered on June 16, 2015
Oliver is right on this one.
Two people cannot claim the same child. Usually, the person providing 51% or more of the support is entitled to...
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