Archived
We are starting an LLC with (4) members; 3 of which are family related. Is unanimous voting more fair than majority now.
Christopher's answer
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Answered on December 28, 2011
I agree with the previous attorney. You really need to get your own attorney and draw the agreement in a way that protects your interests. You are...
Archived
Who can write off interest from a Student Loan on their taxes after a divorce?
Christopher's answer
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Answered on December 28, 2011
First, if there is a 1098-E issued in the name of two taxpayers, the IRS will assume they both have the ability to deduct it, providing they paid...
Archived
I have a tax refund check on back taxes with my name and my ex-wifes name how can I cash it.
Christopher's answer
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Answered on December 28, 2011
The previous attorney is correct. If the check is made out to both of you, they will not accept it unless it is endorsed by both of you.
Archived
Who claims our daughter on taxes this year??
Christopher's answer
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Answered on December 28, 2011
Generally it will be the parent that has custody of the child more than half of the year. The half of support paid issue comes into play if the...
Is landlord's buy-out agreement taxable?
Christopher's answer
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Answered on December 28, 2011
You do need to talk to your accountant about that one. Technically, almost any income is going to be taxable unless an exception is made under the...
Archived
Does the IRS have to send a notice of deficiency to both husband and wife?
Christopher's answer
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Answered on December 27, 2011
From what I understand, they do not need to send a separate NODs if they are only going after one party. They only need to send an NOD to the Last...
Archived
Can parents claim their 20 year old daughter as a dependent if she's in college but is supporting herself 100%?
Christopher's answer
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Answered on December 27, 2011
This is correct. If the child provides more than half of their own support, they cannot be claimed as a dependent. Generally, if they are in...
Archived
Can this father successfully claim his son as a dependant?
Christopher's answer
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Answered on December 27, 2011
For federal tax purposes, the test is who he lived with for the majority of the year. However, if the child provided over half of his own support,...
Archived
CAN I GET OUT OF PAYING THESE TAXES WITHOUT FILING BANKRUPTCY
Christopher's answer
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Answered on December 27, 2011
You have a couple of different options. If your income is very low, AND you have few assets, you can get an Offer in Compromise and possibly pay...
Archived
Does a nonprofit LLC investing in an income-producing project in CA need to register and "QUALIFY" with the IRS?
Christopher's answer
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Answered on December 27, 2011
I am not sure about your question, but if you are asking about 501(c)(3) tax exemption:
APPLICATION FOR §501(C)(3) EXEMPTION-
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