What forms or paperwork do I need for charitable donations under $500 per item but totaling over $5000?

An appraisal is required where any individual item is worth more than $500 or where the total of similar items is more than $5,000. So don't just...

90 year old mother being foreclosed by reverse mortgage co. For $3600.00 in back taxes. How can we stop this?

Pay the back taxes. Use whatever means available. The loss of the house for such as small amount would be a tragedy. Call the lender and see if...

Is my accountant liable in any way shape or form to any un paid vendors or un payed payroll taxes of my business?

Typically, the debts of the business are separate from the owners and individuals. For small businesses, vendors may seek a personal guarantee to...

In California, only sales of tangible goods are subject to sales tax. Services might still be taxed when they are crucial to the sale of a tangible...

Selling rental property with sister.... who pays taxes?

You are both responsible for paying the capital gains tax. That's the easy question. The difficult question is how much capital gains does each...

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For any business transaction, you would report the gross sales as revenue but deduct the costs to make the sale, such as all those fees, as an...

LLC Tax Question

Federal and California tax laws differ on this question. Federal Taxes: Presuming you did not elect to be taxed as a corporation, then all of...

In a worst case scenario, the husband could be charged with tax evasion. The wife could also be implicated as well, depending on what sort of...

Legal differences between being a "contractor" vs. an employee.

The legal difference between the two could be summed up in one word: Control. The more control someone is subjected to, the more likely you are to...