After contract for deed is paid in full, as a buyer, do I pay capital gains at tax time? It’s a difference of over 100k.
Charles's answer
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Answered on July 17, 2023
You don't pay capital gains until you sell it. As a residence if you own it and live in it for 24 of the previous 60 months prior to sale, up to...
Does my employer take out the appropriate tax withholding as a W2 employee?
Charles's answer
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Answered on July 12, 2023
I can tell you from looking at hundreds of tax returns for 2022 that the IRS must have changed the calculation because taxpayers that were getting...
How can I extend the redemption period ?
Charles's answer
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Answered on July 11, 2023
Contact Michigan Legal Services 313-964-4130 yesterday.
Taxing for NON-US person
Charles's answer
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Answered on July 11, 2023
If you are a non US citizen and on nonresident for tax purposes you have and are not performing any services in the U.S. then your income is...
What New Jersey rule allows refund check for Inheritance Tax overpayment be written to administrator rather than to the estate?
Charles's answer
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Answered on July 11, 2023
The tax is owed by the estate and the refund is paid to the estate. The administrator must not comingle their funds with the estate funds.
Can an employer with hold taxes even though I filed exempt and head of household
Charles's answer
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Answered on July 10, 2023
yes. The IRS places the burden on the employer to withhold tax according to their regulations.
This is the current rule
Exemption From...
How can I request from the IRS to update my tax transcripts to include a tax amendment filed through form 1040X?
Charles's answer
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Answered on July 10, 2023
The IRS updates transcripts as new info is available. You need to look at the detail to see if the amended return was received and if it was...
When selling a business, if I leave cash in the bank that I already paid tax on, will I have to pay capital gains tax on it?
Charles's answer
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Answered on July 07, 2023
If you already paid tax on the income in the bank then it will not be taxable again. If the bank account is included in the sale of the business...
Can I be arrested for fake hardship withdrawal documents?
Charles's answer
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Answered on July 07, 2023
I don't understand why you would post this on a public form.
Depending on the plan documents and the facts
You could be charged with wire fraud,...
I owe for back taxes and NC Department of Revenue Levied my Bank account and I have no money for food or gas or bills. What can
Charles's answer
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Answered on July 07, 2023
I don't know when all this happened. NC does a provide economic hardship release. Other remedies could be available as well.
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