Can my husband file income taxes separately, and claim our children for the child tax credit?

The short answer is yes. The question is whether it will be effective. You will want to speak with someone regarding your child support...

In chapter 7 personal bankruptcy filed in the Western Washington (9th district), using the Federal exemptions, what is the maxim

In Washington we are allowed to use the federal exemptions and often do if there is limited equity in the home of the debtor. Section 522(d)(3)...

If you are receiving a 1099, you are not employed but are contracted as an independent contractor. Consequently you are liable not only for your...

Receiving 1099-C from debt settlement with second mortgage of my rental property. I should report that on schedule E form?

The first attorney was correct in pointing you toward form 982. The internal revenue code and case law have established that cancellation of debt...

My rental property in Seattle is in foreclosure. I'm a foreigner. Can I fill bankruptcy in US? What qualification needed?

You may not need a bankruptcy. If the property is being foreclosed nonjudicially, then there is a anti-deficiency clause under RCW 61.24.100 that...

Deduce passive activity loss from cancelled debt income after short sales/debt settlement?

I don't know that you will need to go through that many hoops. If this is truly an investment property, you would want to look at section...

Have been default on mortgages for 1-2 yrs and about to foreclose, but now is above water. Should reinstate/settle loans?

There are a couple of additional things to look at before deciding whether reinstatement is a good option. First, if you pay off the reinstatement...

I have not made a house payment in 3 years because of a remodification deal the bank wanted me to do, should I vacate

If the bank is going to foreclose non-judicially, which 95% of the cases are in Washington, then you have the comfort of knowing that you will...

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Does the law provide any protections for homeowners in foreclosure proceedings, like they do tenants in an eviction?

In addition to the options mentioned, such as chapter 13, if this is your friend's primary residence, then our states Foreclosure Fairness Act...

Mr Michael Smith did a great analysis for you on your proposed transaction. Liability shield are created in only a few business types. For most...