How much, if any, capital gains tax will we pay if we sell our home Spring 2018?

Under section 121 of the code, gain from the sale of a primary residence is excluded from tax when it has been your primary residence for 2 out of...

You do not need to begin payroll when you form a company. You can start afterwards. If you are being paid from the company, you will still need...

You should probably hire a tax attorney who specializes in tax exempt organizations to get to the bottom of this. It shouldn't cost too much since...

If the gift is for 20K in value than put that. Paying the proper taxes is less than paying for the whole car, right? Also, since the car is...

They could likely make that adjustment, yes. Which would benefit you because it would mean that proper taxes that you are getting credit for have...

Can a collections law firm go around your corporation (and also tap your personal tax returns or bank accounts)?

Sometimes officers of the corporation can be held personally responsible for unpaid taxes. I do not know what the Chicago enforcement laws say...

You should never prepare your own return when you run your own business. You should hire an attorney to represent you in audit so that your...

What can I do if I put a business in my name that made over a million dollars in a year for an illegal immigrant ?

There are a lot of questions I have but which you should probably not answer on this forum. Has this case been assigned to a revenue officer who...

I think Mr. Lucas gave you perfect advise. It is possible to get a whistleblower award for disclosing your father's behavior to the IRS, but one,...

You should talk to a landlord tenant lawyer regarding whether the length of a hotel stays changes the right of your tenancy. As for the tax issue,...