I inherited a house from a non relative through a trust. I sold this property to my mother as successor trustee.

The sale from you to your mother qualifies for the Prop 58 exclusion. However, based on your facts there will likely be no benefit from the...

I live and work in CA 51% of the time. The other 49% I am working in NYC. Should my paycheck have CA or NY taxes taken?

You should make the tax adviser you engage aware of the May 18, 2015 US Supreme Court decision Comptroller of the Treasury of Maryland v. Wynne. ...

What can I do?

Contact the California Tax Education Council. http://www.ctec.org/ Any person that prepares a tax return (except certain professionals...

The prior answer applies generally only to C Corps., not S Corps for federal tax purposes. Because California imposes a 1.5% tax on net income an...

Is an inheritance received tax-free?

You may be confusing inheritance (or estate) taxes with income taxes. California has no estate or inheritance tax. IRS does have an estate tax. ...

Which comes 1st the chicken or the egg? ie: the CPA or the Attorney? (re Foundations, Trusts, etc.)

Before you can fund a foundation you must create it and for that you need an attorney to form the entity and file the Nonprofit Public Benefit...

What is the deadline for an oil company to generate K-1 forms to recipients of oil royalties.

Your facts are somewhat unclear. That said, generally the royalties are reported by the payer on a form 1099-MISC. From your statement it appears...

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How do I report wages on my tax return when sent a 1099 from Social Security showing fraudulent earnings?

The tax authorities, primarily the IRS, will match the report received directly from SSA to your tax return. Therefore if you file your return...

California Tax Board put a levy on my bank acct in 2013, collect unpaid registration on a vehicle purchase in 1998. Can they?

This sounds like FTB is acting as a collection agency for DMV, and ultimately you may have to go back through DMV to resolve this. Assuming that...

Are you the sole successor trustee, or are there other trustee(s)? Generally you need to review the terms of the trust to see if there are any...

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