If she was the sole beneficiary, and she gives the money to the other children this distribution will be considered a gift and may be taxable. If...

Four siblings each own a percentage of a home. All listed on deed as owners. One has life estate, lives in home. Who pays taxes.

I agree with the other attorney, but if someone is living in the house they should be responsible for paying rent at a fair rate. Any individual...

How do we take out taxes for home healthcare nursing.

Yes, if they do not work for an agency you will need to withhold these taxes and submit them to the government. If you are not familiar with this...

If I move out of the home I own, and rent it out, can I still get the mortgage tax deduction?

Yes, you can deduct the mortgage interest on Schedule E as a rental property. You will also be able to deduct other expenses such as property...

I am going through a divorce. My wife and I filed tax returns together. She has been advised by her attorney to not let me have

This is a family law question and not really a tax law question. The check should be made out to the both of you and require two signatures to...

A true deposit is not taxable. It must be refundable. Once it is no longer refundable it becomes taxable. Careful wording of the contract is...

Own a small bus. but do not want the income to pass through to me what entity should iI form

A C-Corporation is a separately taxed entity that does not pass through the income/expenses to you personally. This could cause double taxation. ...

Splitting the proceeds from the sale of a house with boyfriend, capital gains tax question.

I agree with the other attorney. When you give money to your boyfriend it will not give you a deduction, but will be considered a gift. You...

You need to hire a tax attorney to protect your interests. The IRS could investigate this case as both civil and criminal tax fraud. The first...

You don't if you are competent to prepare such a trust. If not, you need a lawyer to properly draft this document. Any individual seeking legal...