Henry Daniel Lively's Answers (4728)

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Is AGI determinent factor for the right of one divorced parent to claim all TAX exemptions for child and by what LAW?

Henry's answer | Answered on April 03, 2011

You have to follow the divorce decree. What you are talking about only matters in tie breaker situations. The custodial parent is entitled to the...

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Being charged back taxes on home sold 3 years ago saying that since this was not our principle residence as we rented so to sel

Henry's answer | Answered on April 03, 2011

The homestead exemption applies to your principal residence and you can only have one homestead at a time. Once you established a new principal...

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Am I liable for California tax consequences on a 1099 tied to a Deed in Lieu of Foreclosure on my primary residence.

Henry's answer | Answered on March 28, 2011

I agree with attorney Robert. However, you may be able to relieve your COD income in CA with the Bankruptcy exception since you included the debt...

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Ex claimed I owed him $6000 from tax debt, got to court then he changed it to $15000. Commissioner awarded $15000 to ex.

Henry's answer | Answered on March 28, 2011

You cannot obtain copies of his tax returns if he did not file a joint income tax return. You need a family law attorney to follow up on this...

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Title to my house is in two names, mine and a friend; who claims the real estate tax deduction , repairs, and rental income?

Henry's answer | Answered on March 28, 2011

Without knowing it you have formed a partnership with the other owners of this property. You will need to file a partnership tax return as a...

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Thinking of turning dba professional biz to a CA prof Corp. What would be practical effects/pros/cons? tax issues get 1099'd?

Henry's answer | Answered on March 28, 2011

I agree with attorney Rodgers. You should discuss your options with an attorney to determine which entity is best for you. The laws for 1099's...

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Tax report

Henry's answer | Answered on March 28, 2011

Yes you will need to pay a capital gains tax on this income from the sale of the apartment. As a U.S. citizen you are required to file a tax...

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Other than for child support, alimony, suit money, and taxes, are there absolutely any other exceptions to Florida statute 222.1

Henry's answer | Answered on March 28, 2011

I am not a Florida attorney, but my understanding is that this statute applies to exemptions in a bankruptcy in the state of Florida. This is not...

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If a person has not filed his Income tax for 20 years:

Henry's answer | Answered on March 27, 2011

This does not affect your legal right to file for divorce. However, it could get you in trouble with the IRS. This could be criminal if you had a...

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Can I keep the net Epstein credits/Watts charges upon property settlement if I end up getting awarded the marital home?

Henry's answer | Answered on March 27, 2011

I agree that this is not a tax question. Please consider reposting this question in the appropriate section. Any individual seeking legal...

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