Archived
As a UAE resident (0% income tax jurisdiction) do I have to pay income tax from the rent of a property in US?
Charles's answer
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Answered on October 19, 2010
Yes, normally you have to pay a flat 30% tax on rents that are remitted to you in the UAE. This can be reduced by a tax treaty. As you say you...
Archived
Recently I was contacted by a collection agency pertaining to state back taxes owed. They asked for 25% down and montly payments
Charles's answer
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Answered on October 19, 2010
Pay the state Revenue department and not the collection agency. Most states allow you to negotiate directly with the state taxing agency and allow...
Archived
Im married, we file separate taxes , can I claim bankrupt only for me not in involve her? Other wise my own bankrupt ?
Charles's answer
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Answered on October 19, 2010
You can file bankruptcy with only yourself and not her, but any property that you own jointly, like a joint checking account or a house can be used...
Archived
How do I find out if my father had a trust when my sister refuses to give me his last document hand delivered to her?
Charles's answer
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Answered on October 15, 2010
Trusts are not public knowledge, but wills are, after they have been probated. You can get the will at the office of the clerk in the county of...
Archived
Irs form 1041
Charles's answer
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Answered on October 15, 2010
Yes, you should keep the 1041s in your possession in case the trust gets audited. If you resign you should give the 1041s to the new trustee but...
Archived
My spouse owns a small business (llc)are facing a divorce and banckruptcy of this business. Will my personal credit be ruined
Charles's answer
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Answered on October 15, 2010
The bankruptcy of the LLC should not affect your personal credit unless you personally guaranteed loans of the LLC. If you did, whether or not you...
Archived
Whats the cheapest and easiest way too file bankruptcy on an llc yhat is no longer in business but has outstanding depts
Charles's answer
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Answered on October 15, 2010
This is a tough question because corporations and LLCs normally can't get a "discharge" in debt like individuals can. Therefore, if you as an...
Personal liability for LLC tax debts
Charles's answer
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Answered on October 15, 2010
Normally you are not responsible for LLC Debts, so I'll list the exceptions rather than the rules:
Here is when you are responsible for LLC...
Archived
How much money do I have to inherit before I have to pay inheritance tax?
Charles's answer
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Answered on October 15, 2010
Usually you receive an after-tax amount as an inheritance where the estate has already paid the inheritance taxes, at least at the federal level. ...
Archived
Is the estate responsible for property tax for 2010 if owner passed Jan. 8 , 2010 ?
Charles's answer
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Answered on October 15, 2010
The estate is liable for all taxes incurred after the person died, including income taxes for the decedent, property taxes, trust taxes, etc... ...
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