If I submit my letters to administer the probate estate do they have to be dated the date of filing?

Unless your local rules differ, the court will not care because that date only refers to the date that you signed the document. It should be noted...

Will my daughter need to file a tax return next year?

She won't need to, but she will probably want to. Any winnings over $600 will require the payer of the winnings to issue a W-2G. Additionally, for...

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Living trust

You are able to condition distributions on sobriety, however, since estate planning is fairly complex I would not suggest drafting or amending your...

If i am giving my daughter a house as a gift, does any taxes apply in the transaction?

Your question is a little confusing. Is the home already in a trust? This type of planning is complex and should involve an experienced estate...

What are the benefits (asset protection and reduction in taxes) for an irrevocable trust vs limited family partnership?

This is a fairly large question and it requires additional information to answer correctly. The following are extremely broad answers that could...

Does IRS calls?

Unfortunately, there are a lot of bad people out there that attempt to get your information by pretending to be the IRS. I would suggest looking up...

IRS tax question re: 26 U.S. Code 1221 Capital Asset Defined.

IRC 1221 is a little tricky because the title indicates that the statute will define Capital Asset. However, the statute actually describes things...

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I agree with my Mr. Valencia's answer, but it should be emphasized that it is 10 years from the time it was assessed. The IRS generally has 3 years...

Can I file 83B election for my stock options

Unless the stock is actively traded on an established market, Section 83 of the Internal Revenue Code is not going to be applicable. If after you...

I would like to put on benefit concerts to raise money for my community. Two of us wanting to do this project. Partnership, llc?

Unfortunately, it would be impossible and reckless to tell you which type of entity you should use without sitting down with you and discussing...