I filed chpt 7 in 2009 will there be any adverse effects on my 2009 taxes?

Debt relieved in a Bankruptcy is specifically exempted from Cancellation of Debt Income. Therefore, you will not have to include this as income on...

I filed my tax return for the 2007 year and now I owe? They didn't take my 08' return will they take my 09' return?

If you owe money from a prior year tax return, the IRS will deduct this amount from any refund that you have from subsequent returns. This is true...

It depends on who hired him, but typically he would represent the estate and not the individual heirs. If you are concerned about your own...

What can do to keep the IRS and Franchise from taking the money I owe from back taxes(1998-2002) from my inheritance?

You should try to resolve this issue with the IRS now through an offer in compromise or an installment agreement to keep them from enforced...

Do I claim my wife as an exemption? She has defaulted student loans and the irs takes her tax refunds.

You can file married filing jointly or married filing separately, but you cannot file married filing separately and claim your wife as an...

Living trust

A living trust is a grantor trust, and is really just a way of holding title until one of the settlors dies. You will continue to pay your...

Attachment of state income tax refund.

You should each file as married filing separately so that you can keep your husbands problem separate from you. Otherwise, you do run the risk of...

How should our new house be used as a tax write off?

You can split everything down the middle. That seems the most fair to the both of you without knowing more about your financial situations. Any...

An estate that is under $100,000 in CA does not require a probate. If the house is upside down, then let the bank take it back. If he has any...

What is a simple, inexpensive and reliable way to set up a living trust for an estate valued between 1 and 2 million

Planning your estate is an important decision that requires careful decisions. I highly recommend hiring an estate planning attorney. While this...