Gifting vs. Paying - A Tax Advantage?

If you gift the money - the caregiver gets a reduced social security benefit when retired, and no unemployment benefits, and may sue you if hurt on...

What is the threshold for a false or fraudulent tax return?

There is no statute of limitations for a fraudulent return. The IRS looks for badges of fraud and affirmative acts that show fraud. Fraud can be...

Based on the facts above and my interpretation: You do not have to file a tax return for 2013. Earned income is not a gift but it is possible...

Should I file income tax with husband just to get EIC that's due to me not having income? What happens if kids are unclaimed?

If you are willing to accept joint and several (separate) liability then file jointly. Also, if you don't trust him file with your SSN first (at...

How would president of local (Tennessee) church fellowship club or organization obtain bank records that treasurer wont disclose

Have you asked the branch manager of your bank? Ask what needs to be done. However, in my opinion, a meeting of the board has to be held, and a...

Starting a Winery...

Have you contacted the Indiana Wine Grape Counsel? The Indiana Wine Grape Council was developed to assist commercial and amateur winemakers and...

US C corp. doing business in India

Corporations are taxed at 35 percent on their worldwide income. But income earned by an active controlled foreign corporation is not usually taxed...

Headquarters of C Corp.

Persons wishing to incorporate in the State of Nevada must designate a person as a registered agent who resides or is located in this state. Every...

Can i keep more money than i report(EX: tax) in my bank account?

I think there is a saying that goes "Pigs get fat, Hogs get slaughtered.." That being said, remember that all income is be reported and yes there...

I accepted an offer to become a partner in the advertising agency I work for. How will this affect my taxes?

Congratulations. You are no longer an employee so there is no withholding. You need to make estimated tax payments and pay self-employment taxes...