Questions answered by Magda Abdo-Gomez

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Is there a way to avoid gift tax for the donor on a gift of $70,000 when parents gift it to two adults and one minor?

Magda's answer | Answered on March 07, 2016

Your parents can split the gifts. Hence, your mother and father can each give you $14,000 (making a total of $28,00). They can do the same thing...

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I had a tax lien placed on my credit report a month after the filing of my chap 7. Can I remove it from my file.

Magda's answer | Answered on March 07, 2016

Under the provisions of the Fair Credit Reporting Act a lien can appear on your credit report for 7 years AFTER it has been paid. I assume that...

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How do I determine the value of my car as a liquifiable asset that creditors may come after?

Magda's answer | Answered on March 07, 2016

You can determine the value of your car by either getting an auto appraiser or by going to one of the commercial publications. Kelly Blue Book and...

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Can I file Ch 7 bankruptcy 1 1/2 years after finalizing Ch 13? How much will this cost me?

Magda's answer | Answered on March 07, 2016

I am not sure what you mean by "finalizing a Chapter 13". If you obtained a discharge in the Chapter 13 and are seeking a discharge in the Chapter...

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Moving expenses added to box 1 on W2 and increasing tax liability

Magda's answer | Answered on March 07, 2016

IRS Publication 521 discusses moving expenses at length. I recommend that you review that publication to determine whether or not your...

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Which parent can claim college age child on taxes as as dependent? The mother who pays more expenses or deadbeat dad?

Magda's answer | Answered on March 07, 2016

There are several factors which are taken into account in determining who gets to take the child of divorced parents as an exemption. Without...

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Did they do something unethical? is this legal to do? I cannot pay my taxes due to this, what can i do?

Magda's answer | Answered on March 03, 2016

First you need to determine whether you were a W-2 employee or an independent contractor. In the case of independent contractors no taxes are...

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Would I qualify under Internal Revenue Code Section 6325(b) for a discharge.

Magda's answer | Answered on March 03, 2016

6325(b) applies in four very specific circumstances. Without additional information it is impossible to determine whether you satisfy any of the...

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Ss needed for a will?

Magda's answer | Answered on March 03, 2016

You don't generally need social security numbers for a will. I can't imagine that his grandmother would want to hurt your husband, but he might...

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Can I still file under married filing jointly status?

Magda's answer | Answered on March 03, 2016

Since you were legally married in 2010 you would technically be able to file jointly. However, filing jointly requires that both parties sign the...

Magda Abdo-Gomez's Answers (1522)

Is there a way to avoid gift tax for the donor on a gift of $70,000 when parents gift it to two adults and one minor?

I had a tax lien placed on my credit report a month after the filing of my chap 7. Can I remove it from my file.

How do I determine the value of my car as a liquifiable asset that creditors may come after?

Can I file Ch 7 bankruptcy 1 1/2 years after finalizing Ch 13? How much will this cost me?

Moving expenses added to box 1 on W2 and increasing tax liability

Which parent can claim college age child on taxes as as dependent? The mother who pays more expenses or deadbeat dad?

Did they do something unethical? is this legal to do? I cannot pay my taxes due to this, what can i do?

Would I qualify under Internal Revenue Code Section 6325(b) for a discharge.

Ss needed for a will?

Can I still file under married filing jointly status?