What can i do about this situation?

You should be discussing this with your bankruptcy attorney. Unless the trustee abandoned the car it is possible that the car may still be property...

Is this statement correct?

For federal purposes an LLC which has only one owner is considered a disregarded entity and the income is reported by the owner in his/her income...

This will probably a capital improvement. However, I would consult with a CPA to verify.

Can I get an iPhone and write it off as a tax deduction?

You may deduct the ordinary and necessary expenses that you incur in carrying on your trade or business. Many times the key is to maintain good...

Will I be held liable for my parent's tax liabilities and debt if I claim them as dependents on my tax return?

Your claiming them as dependents does not result in your becoming liable for their tax debts or any other debt. You are only liable if you...

Can I take any tax credits for paying caregiver expenses for my elderly mother?

I am wondering if you have done the numbers and determined that your mother does not qualify as your dependent. She lives in your home full time....

As a single owner LLC you are by default a disregarded entity and report income and expenses directly on your income tax return. If you want to...

Do we need a prenuptial agreement because of a tax lien and inheritance?

Your partner's tax liability is not your liability. The IRS will not come after your separate property in order to collect your partner's debt. The...

Hi my question what can I do about my payee sevice

I do not really understand your question. I recommend that you provide more specific information and resubmit your question.

What to fill out on 1040x?

You have to enter information on all the lines which apply. There are three columns of information required. The amounts original reported are on...