Archived
If I claim fewer allowances in W-4 than I am eligible to, shall I get the extra money back in my tax return?
Everett's answer
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Answered on June 05, 2019
If you claim on Form W4 for exemption allowance more than ordinarily eligible for, then, assuming your related employment income is your only...
Archived
How much money can I wire from the UK to the US? Do I get taxed on this?
Everett's answer
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Answered on June 04, 2019
There is no gift or income tax on receipt of a gift from a foreign person, although there is reporting requirement on Form 3520 if the amount is...
Archived
What do you do with the profit of a non- profit club?
Everett's answer
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Answered on June 04, 2019
You should read the company articles and bylaws, which probably provide for any remaining assets or net proceeds to a similar charity organization.
Archived
Is there any way to file for Homestead for back taxes?
Everett's answer
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Answered on June 04, 2019
There is a statutory provision that limits a claim for homestead exemption by the property owner to only one prior year.
Archived
What does garnishment after judgement(foreign) mean?
Everett's answer
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Answered on June 04, 2019
Generally, a creditor can register a judgment taken in one state in another state (foreign meaning another state, or even another country), in...
Archived
How can I determine an estimate for taxes owed on a home I sold that I did not reside in?
Everett's answer
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Answered on June 03, 2019
What do you mean by "transfer"?
If it was a gift, the donee takes the donor's basis.
If by inheritance, you get a step-up in basis to the fair...
Archived
Overtime, Timesheets, Pay Rate Discrepancies
Everett's answer
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Answered on June 03, 2019
You should consider contacting, or filing a complaint, with the US Dept of Labor Wage and Hour Division, on behalf of your son and the other young...
Archived
In divorce who pays the income tax on money withdrawn from community IRA acct for purchase of a partner's share of other equity?
Everett's answer
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Answered on June 03, 2019
Generally, the exchange of property, such as your real estate, incident to divorce is not taxable. However, the IRA/401K withdrawal would be a...
Archived
Can one of my businesses use the services of my other business?
Everett's answer
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Answered on June 01, 2019
Yes, but under the IRS Circular 230 rules, where there may be a conflict of interest, the practitioner can provide the services only if he is able...
Archived
Insurance & liability for giving rides to people ...
Everett's answer
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Answered on May 31, 2019
You individual consumer auto insurance policy probably does not cover commercial hire. You should check with the insuance agent to see if you can...