Can I report my landlord for renting out her basement to my wife and I but not paying any taxes on the rental income?
Charles's answer
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Answered on September 11, 2019
Sure you can. I suggest getting a long term lease first or you may be looking for a new place to live. You will need proof to backup your...
How do you pay taxes if you sell digital photos online (ie: nudes)?
Charles's answer
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Answered on September 11, 2019
If it is taxable for state sales tax, you will need to register and get a Vendor's License, in addition to what Mr. Cohen suggests.
Archived
In reference to form 4506-T, can I print it out and fax back to the IRS? If so do you know a number to fax to?
Charles's answer
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Answered on September 10, 2019
If you print off the form, page to contains the instructions and it has mailing addresses and fax numbers.
If you actually want a copy of the W-2...
What will the real penalty be for late file no activity 1120 IRS says 200 and none.. its a C corp that is dissolved zero return?
Charles's answer
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Answered on September 10, 2019
Late filing penalty is 5% per month of the tax due on the return. Late payment penalty is 1/2% per month. If no tax is due then the penalty is 5%...
Archived
What type of attorney do I need to search for in Iowa to take my tax prepare to court?
Charles's answer
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Answered on September 10, 2019
Use the find a lawyer function and search for a business litigation attorney. You can't recover damages for the actual taxes due since those are...
Archived
How can I borrow against my home that is in a corporation name? The home does not have a mortgage but has a tax lien.
Charles's answer
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Answered on September 10, 2019
If it is a federal tax lien and you are going to borrow enough to pay the lien off then it is very plausible to do. You will need to file the...
Archived
Can I file chapter 7 for unpaid taxes and financial aid ?
Charles's answer
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Answered on September 10, 2019
Certain requirements need to be met for taxes to be dischargeable in bankruptcy. The requirements are more stringent for Texas residents. Your best...
Archived
What amount of income tax will I owe on the sale of a home ?
Charles's answer
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Answered on September 10, 2019
If you lived in it and owned it for 2 of the past five years, the gain can be excluded. Otherwise you are going to pay tax on the net sales price...
Do I owe taxes on a cash and keep lemon law settlement ? I was awarded 10,000.00 and I'm able to keep 7,500.00 after legal fees.
Charles's answer
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Answered on September 10, 2019
It depends. A lemon law settlement is only taxable for the part that exceeds your loss, which is the amount you paid compared with the fair market...
Archived
Can I sue my wife's ex-husband for his unpaid tax debt?
Charles's answer
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Answered on September 10, 2019
If the debt was discharged in bankruptcy then you can't sue him for a debt he doesn't owe. Second if it was a joint return your wife is jointly...
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