Archived
Tax evasion - Can one expect to be safe to agree to voluntary disclosure of FBAR worth $12000 - not reported for 5 years?
David's answer
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Answered on January 22, 2014
Hmmm... I have written a book on this issue accessible over the internet having done over 100 offshore voluntary disclosures. Lawyer like answer...
Archived
What is the threshold for a false or fraudulent tax return?
David's answer
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Answered on January 13, 2014
Comments in ALL CAPS to set them out from your questions:
I read that the IRS is not bound by any statute of limitation if a tax return is false...
Archived
My wife is a green card holder, her father from china wants to give her a large sum of money will we be taxed?
David's answer
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Answered on January 10, 2014
I agree with all that has been said but would add - make sure the gift is not sourced from a foreign trust or the gift could be taxable income to...
Archived
How will changing the number of allowances claimed on my W-4 affect me during tax time?
David's answer
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Answered on January 02, 2014
This is really a question for a CPA (which I happen to be, as well as an attorney).
See the following link......
Archived
Why can't I claim one of my children on my Ca or fed taxes?
David's answer
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Answered on January 02, 2014
I see the issue from a more jaded view point having prepared or reviewed over 50,000 tax returns in my career. The first to claim a dependent...
Archived
Tax law, IRS, Income Taxes. I have a property in contract right now, all of my money is in, cash. The seller and me, the buyer
David's answer
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Answered on December 31, 2013
In additional I would add that I believe that the realization event on real estate transactions is the close of escrow. If that occurs in 2014...
Archived
About this time I filed taxes online, but it kept rejecting one of my children.What does that mean?
David's answer
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Answered on December 31, 2013
Your child's social security number has most likely either been typed in wrong (look for transposition errors) or your child has been claimed as a...
I want to give my daughter $100,000 to buy a home. For tax purposes what is the best approach, to give as a gift or inheritance?
David's answer
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Answered on December 26, 2013
Unless you are planning on dying soon - only option is as a gift as inheritances only at death. The $100,00 0 will be reportable for gift tax...
Selected as the best answer
How can you determine "fair market value" for a property inherited 6 years ago, to determine taxes on its sale today?
David's answer
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Answered on December 23, 2013
Have a real estate agent pull comps based on your father's date of death. His property should have received a step up on value to fair market...
Selected as the best answer
My boss will ONLY pay me under the table. What actions can I take to protect myself from tax fraud, while also keeping my job?
David's answer
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Answered on December 18, 2013
Your employer is treating you as an independent contractor. If he / she is wrong in doing so they can be looking at large payroll tax liabilities...
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