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We are planning to sell our home and move in with my mother. How can we avoid capital gains tax on the procedes?
Christopher's answer
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Answered on October 14, 2012
As long as this was your primary residence, you will likely be able to exclude the gain on this transaction. There are rules, such as you have to...
Archived
Lawyer's fees tax deductable?
Christopher's answer
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Answered on October 14, 2012
Attorney fees are only deductible if they were related to defending or enforcing a business or investment interest,. You cannot deduct attorney...
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Can my husbands ex, claim their daughter on taxes if she doesn't live with her even tho their are court papers?
Christopher's answer
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Answered on October 14, 2012
You can claim Head of Household and the EIC because only the parent that has the child a greater number of days can take these. I suggest you...
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For a small business where most sales are made online, do I need to collect sales tax for CA residents only, or everyone?
Christopher's answer
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Answered on October 14, 2012
In the other states, it depends on whether you have a physical presence in the state. However, there has been a ton of rumbling over the last 10...
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Co signed loan, ex son in saw not paying,we are . Can we at least deduct on our taxes
Christopher's answer
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Answered on October 14, 2012
You are personally liable for the loan, so you should be able to take the interest. When people cannot is when they voluntarily pay their...
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Would I end up owing income taxes if I let my ex-husband claim my only child on his income tax return this year?
Christopher's answer
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Answered on October 11, 2012
Don't do it for him again. Do it by the book now whether he likes it our not. You might want to notify him that he did not have the right to claim...
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I am recently divorced and for two years of our marriage we owe tax debt, the divorce decree states that my ex is responsible
Christopher's answer
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Answered on October 10, 2012
Your divorce decree is not binding on the IRS. As far as they are concerned, if it is from a jointly filed return, you are jointly liable. You will...
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Can I still claim her?
Christopher's answer
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Answered on October 10, 2012
I would suggest enforcing the portion that he has not followed through with. You cannot just "even it out" by not following the order yourself....
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Do you have to file a petition to claim a child on income taxes if you're paying child support for that child or is it automatic
Christopher's answer
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Answered on October 10, 2012
It is not automatic. The parent that has the child a greater number of days during the year automatically gets to claim the child. You need a state...
Archived
Tax company failed to protect my identity
Christopher's answer
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Answered on October 10, 2012
Married joint filings are not that simple. This depends a lot on what you have done in the past. The IRS can infer the authority of one spouse to...