Archived
My Father just gave me his house, currently valued at $50,000.00, as a gift. How much will he have to pay in gift tax?
Henry's answer
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Answered on August 07, 2011
As the donor your father will have to file a gift tax return. He is entitled to an annual exclusion of $13,000 for gifts made to you in a given...
Archived
Claiming the child on taxes
Henry's answer
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Answered on August 07, 2011
You qualify for the deduction as a matter of federal tax law. However, you must follow the court order regarding this issue to prevent a contempt...
Archived
Do I have to pay any kind of taxes or fees if I let my Mother sign over her house to me?
Henry's answer
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Answered on August 07, 2011
This transaction can be more complicate than your think. There are Gift Tax, possible transfer fees, tax basis, and property tax issues to...
Archived
How do I get my part of my uncle´s estate in Germany transferred to my U.S. account?
Henry's answer
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Answered on August 07, 2011
This is not really a tax question for US Attorneys. You should retain an attorney in Germany that is familiar with German laws.
Archived
I am one of five beneficiaries in a revocable trust. how much does it cost to have the trust reviewed.
Henry's answer
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Answered on August 01, 2011
This varies with the complexity of the trust. Most attorneys will bill for this work on an hourly basis. Consult with a couple of attorneys in...
Archived
What do i need to do my husband had a stroke i need to take over his finances
Henry's answer
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Answered on August 01, 2011
If you do not have a durable power of attorney giving you this power you will have to petition the Court for a conservatorship to take over his...
Archived
Opened and S Corp...Did nothing but let it sit two years. Can they come after me PERSONALY for the min tax?
Henry's answer
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Answered on August 01, 2011
You are not personally liable for the tax unless you dissolve the corporation and take personal responsibility. Further, the state will suspend...
Archived
When claiming weekly unemployment benefits,Do I have to report a payment for a job that was month ago (only $200)?
Henry's answer
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Answered on August 01, 2011
You report the income when the payment was received since you are a cash based taxpayer.
Archived
Will my future wife be liable for my pre-maerital Federal Tax obligation. We will be married and live in the state of Illinois.
Henry's answer
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Answered on August 01, 2011
Your future wife is not responsible for your pre-marital tax liabilities. Until you clear up this problem you should consider filing as married...
Archived
Is the tax court's permission required to start discovery in a tax court case?
Henry's answer
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Answered on August 01, 2011
According to Rule 70 of the Tax Court, the Court expects the parties to obtain the information they seek through informal procedures before they...
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