I plan to transfer a house I owe that is paid off to my two children. Will they have to pay any Federal tax now?

Since the home is free an dclear, you can either 'gift' it to them, and file a Form 709 showing the gift, or keep it and have it as part of your...

Question about estate tax on residual income

Your initial hunch is correct. The estate (when you die, what you leave behind) will be taxed on the residuals. This would be no different than a...

I need to file an overdue tax return. I lent money, as a business using an LLC, hard money loans on non owner occupied homes,

Its really hard to tell but I see a few issues to consider, both buisness and tax. From a business perpsective, are you a qualified lender exempt...

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You cannot be given notice via email in California (and likely most states) They must serve the notice to you personally, or posting on the door. ...

It seems our family trust executor postpones the death declaration of Father "forever" in order to move money behind us.

You need to file a petition with the probate court to demand an accounting and compel the trustee to act. When you say 'trust executor' to do you...

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. We are only dealing with the sale of the home . Do I need to get a Trust Lawyer? Seems basic. I live in CA .

Please provide more information. Is the home held in a living trust, or revocable trust, or it is a irrevocable trust? If its a revocable trust...

Do I need to pay income tax for the money wired in from abroad?

Not necessarily if the money was a gift. From what you said, your parents appear to not to be U.S. tax residents. That means, they don't qualify...

There are two real estate state/county taxes to consider (and for Orange County - applicable). If this transfer is for consideration (sale- you...

As a renter of a parking space in San Francisco, am I liable for parking taxes not collected from me in the past?

You need to review your lease. Although you don't own the parking spot, you may have a lease obligation to pay all taxes and assessments. ...

Recently dissolved corporation. EDD put a levy on corporate bank account. Can EDD go after my other bank accounts?

I'll start with easy, unless you personally or unlawfully distributed money out of the business to yourself in a fraudulent manner, I don't believe...