If married but claiming taxes separately, during a divorce are we responsible for each other's tax debt??

The taxing authority would not consider you liable for the tax owed on a separate return filed by your husband. You would be liable for the taxes...

I sold 8 vintage watches to a dealer.I do it as a hobby. He paid me with $10,150.00 check. Am I with trouble with IRS now?

You are not in trouble because you made this deposit. You should, though, keep records of your purchases and sales and report the income you make...

One reason for using an LLCs is the limited liability protection. So, while not requiring the same formalities as a corporation, it is still...

Can a trustee of a special needs trust for his brother be made to give it up to the conservator (daughter) of the recipient?

Neither the beneficiary nor a conservator for the beneficiary should be allowed to control the distribution of the trust assets or the...

Three beneficiaries on 120 day waiting period. At 105 day one of the beneficiaries dies. Does 120 days start over?

If a probate was commenced for the estate of the deceased beneficiary, the persons entitled to his estate must wait for the period to pass before...

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I agree with information provided to you by attorney Schultz. Additionally, you a Change of Ownership Statement, Death of Real Property Owner must...

Asset protection from a lawsuit.

Revocable living trust are not designed for asset protection from your creditors. I recommend that you discuss the options available to protect...

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Does an assessment of income tax start a 2 years time to file an amended return?

Unfortunately, IRS agents do not always provide you with correct information. Attorney Atchley provided you with the information for when to file...

What would it cost to make a trust account

As attorney Potter recommended use the Avvo Find a Lawyer to locate an attorney in your area. You may also want to use the referral service on the...

In 50/50 timeshare order when one parent is identified as the custodial parent, custodial has child tax exemption?

Please review IRS publication 501 that sets forth the rules on exemptions for dependent linked below: Who is custodial parent and who is...

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