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Treasurer of church takes 250 dollars from her salary, called it a bonus and did not take fica
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Answered on January 01, 2012
You do not avoid employment taxes when you receive a bonus. It will still be reported to the IRS as wages from employment. It is clearly not a gift...
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Can my federal or Alabama state tax refund be withheld to satisfy a defaulted civil debt, ie. payday loan promissory note?
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Answered on January 01, 2012
I tend to agree. If this were child support, or a defaulted student loan, you would have a problem. But every creditor cannot just start...
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Can some draw unemployment and also incorporate a business that only make about $3,000 a year?
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Answered on December 31, 2011
As far as taxes, if you are self-employed, it takes very little income to create a tax liability. So even though you will only be collecting...
I am planning a strategic default on my under-water home. Will the IRS may tax me with a 1099? Will a form 982 protect me?
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Answered on December 31, 2011
You possibly can. This will not be recognized income under Section 108(a)(1)(E) if:
the indebtedness discharged is qualified principal residence...
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Motion to have federal tax lien removed after Chapter 7 bankruptcy?
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Answered on December 31, 2011
You can discharge the lien if you no longer owe anything. This is one of the things that allows for a release of lien. The IRS will generally...
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I have filed joint taxes with my common law partner for the past 20 years. This past May he passed away.
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Answered on December 31, 2011
You can file jointly for the year of death, and the next year if you are a "surviving spouse." This is defined in IRC Section 2(a) as a...
What happens to a federal tax lien after 10 years if the tax liability was discharged in bankruptcy?
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Answered on December 31, 2011
1. Not all taxes are dischargeable in bankruptcy. As a matter of fact, many aren't. Once you get out of bankruptcy with non-discharged taxes or...
Archived
Winning a withdrawal of a property lien( versus release), I understand release can jeopardize once credit.
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Answered on December 31, 2011
A lien usually is automatically put in place if you owe more than $10,000. You can release a lien in certain situations. One situation is where it...
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Can I deduct my attorney fees on my taxes? It was $24,000.00+ and I gained custody of my children.
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Answered on December 31, 2011
This previous attorney is correct. There are sadly many cases where people incur large legal expenses for more than noble causes, and simply cannot...
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I am self-employed offering tutoring services. Can I deduct the cost of my new IPad purchased for traveling internet access
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Answered on December 31, 2011
I agree with the above attorneys. You can deduct this, but the IRS is going to have a hard time believing you don't use your iPad for any personal...
