Taxable income

I would add that in accordance with section 121 of the IRC, your mother could excluded up to $250,000.00 of the gain as long as this was her...

When filing taxes what is considered income?

It appears your question is more centered around what is income that you must report. If that is the case, Section 61 of the Internal Revenue Code ...

I need an attorney who is licensed to practice in Arkansas to file a legal malpractice case

I know of only a few attorneys in Arkansas that handle legal malpractice claims. Luther Sutter in Benton, Arkansas and Tim Dudley in Little Rock,...

Cancel llc and open as sole prop?

I also agree with the other attorneys and I would add that in the event this is an LLC, your partners could transfer their membership units to you...

Tax consequences of transeffring the property to llc

I agree with the previous answers, but add one caveat regarding the transfer if any of all of the properties have any mortgages. A transfer to the...

My grandmother left 40 acres to her sons, one being my father. After my father died it went to my mother.

Depending on the value of your mother's estate, you may be able to qualify for a small estate administration that is less expensive and quicker...

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Can my employer cancel funds for work performed if I was contract labor?

Do you actually perform the required services? If the answer is yes, then you are entitled the the value of the work performed. This would be an...

What will happen if I sell my camper?

In many states, it is a Felony to willfully evade the payment if any tax, including sales tax and personal property tax. You will need to discuss...

My ward has mental health issues. When in treatment is highly functional. Am I held liable if she resumes driving her own car?

You could be held liable for any damages that she causes. When you were appointed guardian your "ward" was declared legally incompetent by a Court...

Is there a statute of limitations for a probate case to close from the time it was opened?

In Arkansas, there is no deadline to close the Estate, as there maybe various reasons why the Estate is still opened (real property must be sold,...

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