Questions answered by Nicholas John Souza

Archived

Refund of Social Security and Medicare Taxes

Nicholas's answer | Answered on April 08, 2015

At this point you have paid the taxes, requested a refund, and been denied. The next step would be to file a case with either a United States...

Archived

What can i do if i did not file income tax but the father of one of my kids claimed her without my permission?

Nicholas's answer | Answered on April 08, 2015

Who can claim children on taxes depends on who they have lived with, who has provided their support, and a variety of other factors. You have to...

Archived

How to transfer assets and liabilities when a Single Member LLC checks the box to be taxed as S Corp. and figure basis.

Nicholas's answer | Answered on April 08, 2015

I agree with the other posters. This is too detailed a question for a good answer in this forum. S-corp tax is a complicated area and this would...

Archived

Tax attorney question on capital gains

Nicholas's answer | Answered on April 08, 2015

I haven't seen this situation before so this answer may be wrong. However, from first glance I would assume that you need to both own the property...

Archived

What is my tentative total tax for extension form 7004 if my new LLC only has 10-15K in start up costs from 2014?

Nicholas's answer | Answered on April 08, 2015

It's impossible to give you an exact answer without looking at your finances. That being said, if you had $0 of income there would not be anything...

Archived

Am I more likely to receive a favorable outcome if I petition the US Tax Court or file an IRS deficiency waiver, 4089-B?

Nicholas's answer | Answered on April 07, 2015

The deficiency waiver would be if you wanted to agree with the IRS' determination of deficiency. I would strongly advise seeing a tax attorney...

Archived

How can a non US citizen gift a home to a sibling in CA without paying gift taxes?

Nicholas's answer | Answered on April 07, 2015

This is an interesting question and I'd advise you to seek out an estate planning attorney to help you with the specifics. Let's start...

Archived

I own a llc with 51 percent ownership. in my tax return it says I own 98percentof irrevocable trust which is owned by the llc

Nicholas's answer | Answered on April 03, 2015

This is a complicated question, I wouldn't want to guess as to your specifics. Trust income taxes are very complicated and the result is determined...

Archived

My aunt died in PA her estate is less than 10, 000. Her bank will not release her funds I have power of attorney

Nicholas's answer | Answered on April 02, 2015

I'm sorry for your loss. A POA is ineffective after the death of the person. You say you're also the executor, you should be using that authority...

Archived

Is there any way to petition probate court for lawsuit settlement to go to wife, child instead of old debt?

Nicholas's answer | Answered on April 02, 2015

Not all property of an estate is able to be taken by creditors. Some or all of that amount may be below the family allowances or exempt property...

Nicholas John Souza's Answers (338)

Refund of Social Security and Medicare Taxes

What can i do if i did not file income tax but the father of one of my kids claimed her without my permission?

How to transfer assets and liabilities when a Single Member LLC checks the box to be taxed as S Corp. and figure basis.

Tax attorney question on capital gains

What is my tentative total tax for extension form 7004 if my new LLC only has 10-15K in start up costs from 2014?

Am I more likely to receive a favorable outcome if I petition the US Tax Court or file an IRS deficiency waiver, 4089-B?

How can a non US citizen gift a home to a sibling in CA without paying gift taxes?

I own a llc with 51 percent ownership. in my tax return it says I own 98percentof irrevocable trust which is owned by the llc

My aunt died in PA her estate is less than 10, 000. Her bank will not release her funds I have power of attorney

Is there any way to petition probate court for lawsuit settlement to go to wife, child instead of old debt?