Mom has dementia. Can Dad gift money on her behalf (from their joint bank account).
As far as federal tax law, your analysis is sound and there will be no tax on $26,000 as long as your parents make an election on their tax return...
Seattle, WA
Tax Lawyer at Seattle, WA
Practice Areas: Tax
As far as federal tax law, your analysis is sound and there will be no tax on $26,000 as long as your parents make an election on their tax return...
You need to speak with a probate attorney in your area. Pay a few hours for their time, and they could help you understand this a lot better. The...
In the long run, this doesn't make sense. Let the state take the refund, and at least pay down what you owe overall. Over years, refunds can pay...
This is normal. And if you don't want to do it, they have all the rights of a creditor to collect on the account. But as you know, this has its own...
There is a foreign income exclusion, as well as a tax credit for any taxes paid in a foreign country. But you do need to plan on filing a tax...
This is tricky. If you ever claimed it as a theft loss, you can bet it would be taxable. If not, then it should not be taxable depending on how...
Double taxation exists because of the dividends. If the wages are paid, they are never subject to corporate taxes to begin with because the wage...
This is not possible unless you can get him to amend jointly. You have three years to file a joint return after filing a separate return, but you...
Definitely get an attorney. You don't have to be the owner to be liable for the employment taxes. If you say the wrong thing in your interview,...
States are generally far worse than the IRS when it comes to collection abuses. They are governed by the law Congress put in place in the 90s. You...