Archived
I owe the IRS a significant amount of money. If i receive money in an estate settlement, will the IRS take that money?
Charles's answer
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Answered on January 11, 2018
If there is a lien filed by the IRS in the county where the home is, the yes, the settlement officer will get a payoff from the IRS and your share...
Archived
Income taxable in this situation?
Charles's answer
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Answered on January 11, 2018
Due to the length and word count you are most likely asking for specific legal advice for a specific set of facts and you really need to consult...
Archived
Is reserve cash taxed at a federal income tax rate ?
Charles's answer
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Answered on January 11, 2018
You pay tax on the entire 5K of profit. There is no tax on amounts saved. If you are a regular corporation and you accumulate too much cash,...
Archived
Can I still claim my children as dependents when filing income tax when they have been residing with other family since August?
Charles's answer
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Answered on January 11, 2018
If they are your children and resided in your home for more than half the year, then yes you can claim them.
Archived
Iwant to gift usd 20000 to my son?
Charles's answer
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Answered on January 11, 2018
You should split the gift so you stay under the $14,000 annual exemption this way no gift tax return has to be prepared and filed.
Archived
My wife started a sole proprietor LLC in CA, and after she created it, we realized both spouses can be listed as members without
Charles's answer
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Answered on January 11, 2018
adding or removing members from the LLC should be governed by the LLC operating agreement or member's agreement. Once the initial paperwork is...
Archived
Can I use a notarized letter stating me and my wife are separated when filing for my tax returns?
Charles's answer
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Answered on January 11, 2018
I am assuming you don't want to file as married filing separate. To file as single or HOH you need to be NOT married, considered to be not married...
Archived
If you are commissioned and the past 3 months were the highest months of the year and now over the required can you throw out
Charles's answer
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Answered on January 10, 2018
Huh? Filing what due to tax issues?
Archived
Claim foreign tax credit with itin
Charles's answer
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Answered on January 10, 2018
The issue isn't about not having a SSN it is about her residency status.
Nonresident aliens. If you are a
nonresident alien, you generally...
Archived
Can I deduct my home rental in Florida?
Charles's answer
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Answered on January 10, 2018
I believe the determining factor is the length of time the job was expected to last. If less than a year, then your temporary housing costs could...
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