Without fully vetting all of the facts, consider a transfer using a LLC/partnership or promissory note, whereby the interest/remaining balance is...

Does a U.S. citizen have to pay taxes on being gifted money by alien spouse?

Spouses may gift/transfer funds to one another without any tax implication. That said, it sounds like there is some income tax due from the sale of...

How to pay parents for "mortgage"?

By paying off your home loan and releasing your mortgage, your father-in-law has already created a gift to you and your wife, subject to gift tax....

If you are asking for the purposes of having your withholding in line with your actual tax liability, the more appropriate adjustment would be on...

Really old asset found 30 years after estate was closed. All named heirs are dead.

Who was the named beneficiary on the account?

There are a number of factors that need to be considered. These include, but are not limited to, citizenship, residency, source of income,...

State Income Tax Question

You should consider contacting a tax attorney. There are many variables that need to be considered before a response to your question could be...

I'm a physician, and have been offered an employment contract with a new (to me) group.

Always a good idea to have an attorney with experience in transactional and employment agreements review your contract and discuss possible issues...

Non compete question in Illinois.

The validity of this type of agreement has more to do with time and space than the corporate organization of your employer. Having the agreement...

In the State of Michigan, are silent auction funds taxable when received to assist an individual with medical bill debt?

The income would need to be more fully vetted to give a more concise answer. However, the medical bills can be itemized on Schedule A of the 1040.