If parent owes back taxes can they transfer deed to a adult child and will they be responsible for the back taxes that is owed
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Answered on November 05, 2024
In Texas, real property taxes "run with the land". Your children will be liable for the back taxes if you transfer the property to them. In...
I paid delinquent property tax, how can I get deed?
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Answered on October 24, 2024
You will need to probate Mother's and Husband's wills. If no wills, you will need to consider Probate of an Heirship Determination, or perhaps less...
Texas Sales and Use Tax, is calculated on the original price or the resale price?
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Answered on October 21, 2024
The purpose of the resale certificate is to avoid paying sales tax twice on the same item. Sales tax is paid only by the last customer, and...
Do I need to report my deceased husband's 1099C Cancellation of Debts to the IRS?
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Answered on October 04, 2024
The general rule is that a taxpayers taxable income must be reported on the final return for the year in which is deceased. Taxable income in...
Irs put a lien on my home, what can I do?
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Answered on September 30, 2024
You also may qualify for release of tax lien if you pay the balance down below $25,000 and obtain a bank direct debit payment plan for the...
Would a business of my spouses be considered separate property in Texas because he had invested in it before we were married?
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Answered on September 25, 2024
As you describe it, the business Husband bought before marriage was sold during marriage. In the state of Texas, income from separate property is...
I am founder, owner and primary investor of my studio/store business, but new LLC member wants 50% with minimal contribution?
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Answered on September 24, 2024
Your right to preferential distributions from the LLC depends on your agreement with the two partners. Generally, unless you have a written...
How can I sell my property that has heirs a one of the heirs don’t want to sell ?
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Answered on September 18, 2024
If all the heirs may not agree to sell the real estate property, you may have to file a partition lawsuit and get the Court to order it sold. If...
Need to understand tax liability when lending amount outside US and while receiving the same after few year.
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Answered on September 14, 2024
Generally, payment of funds to a debtor for a loan, and receipt of funds by a debtor for a loan, and not taxable deductions or income to each...
Tax question
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Answered on September 11, 2024
The State of Texas does not have an individual income tax. It does have a business gross receipts tax if your business is a limited liability...