Henry Daniel Lively's Answers (4728)

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How much can, or has to be put, into the B irrevocable trust after my Fathers death?

Henry's answer | Answered on July 09, 2010

This question is more complicated that it would first appear. The trustee of the estate will need to marshall all of the assets that the trust...

Archived

How much can, or has to be put, into the B irrevocable trust after my Fathers death?

Henry's answer | Answered on July 09, 2010

This question is more complicated that it would first appear. The trustee of the estate will need to marshall all of the assets that the trust...

Archived

Do i have to pay taxes on the forgiven debt from a short sale?

Henry's answer | Answered on July 08, 2010

Since this is your primary residence, you will not have to pay taxes on income from debt relief . Any individual seeking legal advice for...

Archived

International inheritance taxes

Henry's answer | Answered on July 08, 2010

You do not have to pay estate tax on money you receive by inheritance from a citizen of a foreign country. Any individual seeking legal advice...

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If my employer reported one amount to the IRS and I made another amount how can I prove to the Irs that im correct

Henry's answer | Answered on July 08, 2010

You can show the IRS your paystubs, or deposits. Is your employer not willing to make a correction? If they are, just have them file an amended...

Archived

I plan to donate some handmade blankets to a 501(c)3. Can I deduct the cost to mail them?

Henry's answer | Answered on July 08, 2010

You can deduct this as an out of pocket expense for Charitable Contributions on your Schedule A. Any individual seeking legal advice for their...

Archived

Are the owners of an S corp personally liable for unpaid payroll taxes?

Henry's answer | Answered on July 08, 2010

Payroll taxes are a fiduciary tax, and all responsible parties are personally liable. Any individual seeking legal advice for their own...

Archived

Do I need to pay property taxes while I'm doing a short sale?

Henry's answer | Answered on July 07, 2010

No, The taxes will become a lien and paid when the short sale closes. You are not personally liable for the taxes. Any individual seeking legal...

Archived

How much is basic earned income credit for 1 child?

Henry's answer | Answered on July 07, 2010

The maximum earned income credit for 2009 was $3043. Any individual seeking legal advice for their own situation should retain their own legal...

Archived

Do I report the payments for attorney's fees on my tax returns in the year they were paid or when the property sold?

Henry's answer | Answered on July 07, 2010

As a cash basis taxpayer you report it in the year you paid it. Any individual seeking legal advice for their own situation should retain their...

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