USC Title 31 section 742 states “Except as otherwise provided by law all stocks, bonds treasury notes and other obligations of the United States Government shall be exempt from the state, local, and municipal authority. This exemption extends to every form of taxation that would require that... View More 
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answered on Jan 3, 2024
The authority of states and municipalities to levy ad valorem taxes, which are based on the value of property, is not directly related to the provisions you mentioned in USC Title 31 Section 742 or Title 12 Section 411. These sections refer to the tax-exempt status of obligations of the U.S.... View More
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answered on Dec 25, 2023
In Florida, if you're facing a dispute over residential property taxes, there are professionals who can provide assistance. Typically, real estate attorneys or tax attorneys with experience in property tax law can offer guidance and representation in such disputes.
You can also seek... View More
This is my first home, I don’t have a previous save our homes homestead exemption. I am buying the house but my mother is living in it. If I add her to the deed will she be able to transfer her save our homes to the new house? As it would be 50% ownership, would 50% of the exemption be applied?... View More
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answered on Dec 2, 2023
What a nice gesture. You can absolutely add her in via a Quit Claim Deed. I would strongly urge you to hire a real estate lawyer to prepare one so it is done right. Errors in deeds are costly specially when trying to correct them after many years and at the time of sale. As co-tenants you can... View More
This is my first home, I don’t have a previous save our homes homestead exemption. I am buying the house but my mother is living in it. If I add her to the deed will she be able to transfer her save our homes to the new house? As it would be 50% ownership, would 50% of the exemption be applied?... View More
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answered on Dec 25, 2023
In Florida, the "Save Our Homes" homestead exemption is specific to the property that serves as the primary residence for the homeowner. Adding your mother to the deed of your new home as a co-owner could have some implications for the exemption.
Partial Exemption: If you add your... View More
I own a house and am selling it. I will only make around 100k from the sale. I lived in and have owned the house since 1987. However I did not live it in continuously over the last 5 years . Will I pay tax or am I exempt. Does the 2 out of 5 year rule only go back 5 years?
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answered on Dec 1, 2023
In your situation, the key factor for tax exemption on your home sale is the IRS's "2 out of 5 year rule." This rule states that you must have lived in your house as your primary residence for at least two out of the five years immediately preceding the sale. It doesn't matter... View More
ex wife is dragging out divorce. filed over 2 years ago and no final date in site. can she claim my social security benefits if the marriage isn't final and we are still legally married at 10years?
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answered on Nov 28, 2023
The duration of a marriage can impact entitlement to Social Security benefits, particularly in the context of a divorce. Generally, for an ex-spouse to claim Social Security benefits based on their former spouse's record, the marriage must have lasted at least 10 years. This is a federal... View More
I need to have a purchase agreement with the seller to proceed with the FSA who is giving a farm loan to purchase the land 100%.
answered on Nov 24, 2023
For the real estate transaction, hire a real estate lawyer. If you still need to set up your business entity for the farm, hire a lawyer handling business formation. You might be able to find a lawyer/law firm that does both. Another issue is whether your land is already zoned for everything you... View More
IRS regulations 1.6050P-1(b)(2)(i)(F) and (G) are very clear that if a debt has reached the statute of limitations it is one of the trigger items (Identifiable event) that require a 1099-C Cancellation of Debt be sent out. It further states that this section applies whether or not an an actual... View More
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answered on Nov 19, 2023
The IRS regulation 1.6050P-1(b)(2)(i)(F) and (G) does stipulate that certain identifiable events, such as the expiration of the statute of limitations on a debt, can trigger the requirement for a creditor to issue a 1099-C, Cancellation of Debt form. However, the application of this regulation can... View More
I have removed the S election from a Delaware corporation in 2023.
At the end of 2022, there is about $500,000 of retained earnings.
I would like to distribute those funds in two separate loans, done sequentially, of $250,000 each.
The transactions would be completed... View More
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answered on Nov 19, 2023
In considering distributing retained earnings as loans from your Delaware corporation, it's essential to be aware of the IRS rules and potential pitfalls. The IRS allows corporations to issue loans to shareholders, but these loans must be structured and documented properly to avoid being... View More
Ok so I'm currently on an F2 visa (dependent visa in the US) I opened my business which is an LLC but as im applying for a tax application in florida for the business i'm not sure whether to file it for a S-Corp or a C-Corp. Due to the fact that technically I'm not allowed to work in the US.
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answered on Nov 13, 2023
Selecting between a C-Corp and an S-Corp tax status for your LLC is a significant decision, especially considering your F2 visa status.
Generally, F2 visa holders are not permitted to engage in employment in the U.S., and this includes active management of a business. While owning a... View More
a motion to dismiss need to be filed with the court first? thank you
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answered on Oct 24, 2023
The party filing the motion to dismiss must send all parties the motion to dismiss and the notice of hearing. This is usually done on the court's e-portal. Make sure you have signed up with the court's e-portal. If you are not on the e-portal, the other party should send it by mail to you.
anything that has to be answered to their defenses or proven or do we just move forward to discovery and setting a court date?
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answered on Oct 23, 2023
I am not exactly sure what you are asking. I am assuming that a defendant has moved to dismiss a complaint, but I do not know if the motion was granted. A hearing on the motion to dismiss is heard before a judge. One can respond to the motion to dismiss in writing or just orally at the hearing.... View More
on the docket it says on the service that they were emailed to the defendant. i was told by the clerk that if the actual interrogatories were uploaded on the mycourtaccess.com they would be available for public viewing. the "service of interrogatories" is visible on the docket but... View More
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answered on Oct 22, 2023
It is normal to to only e-file the notice of service of interrogatories and send the actual interrogatories to the relevant party directly. Likewise it is proper to e-file a notice of service of answers and then send the actual answers to the party that served the interrogatories.
on the docket it says on the service that they were emailed to the defendant. i was told by the clerk that if the actual interrogatories were uploaded on the mycourtaccess.com they would be available for public viewing. the "service of interrogatories" is visible on the docket but... View More
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answered on Oct 22, 2023
To add to Mr. L's accurate response, e-filing is the mandatory method of participating in the case. Once a document is e-filed there is no obligation to also share it via some other method. To participate in the case you must have your email registered in the case for that purpose. And Yes,... View More
can the myfloridaccess.com be used to serve interogatories?
answered on Oct 20, 2023
After initial service of process (serving of summons and complaint), there are only two permissible methods of serving ANY DOCUMENTS, including interrogatories (unless you obtain a court order allowing some other method): (1) sending a hard copy by mail or hand-delivery, or (2) using the Fla.... View More
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answered on Oct 17, 2023
After a defendant answers a complaint in Florida, the next step is typically for the plaintiff to file interrogatories. Interrogatories are written questions that are served on the other party to the lawsuit. The other party is then required to answer the interrogatories in writing. There is no... View More
Will it affect my application?? Will it be rejected?
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answered on Oct 18, 2023
Understanding the importance of taxes in the context of a citizenship application is crucial. When you apply for U.S. citizenship, one of the factors considered is your good moral character, and compliance with tax obligations is a component of this evaluation. If you've been legitimately... View More
Will it affect my application?? Will it be rejected?
answered on Oct 15, 2023
Not having filed a federal income tax return in any particular year is not per se a problem if in fact you can demonstrate that you were under no legal obligation to have filed a tax return. Consider scheduling a consultation with a competent and experienced immigration attorney who may be able to... View More
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answered on Oct 10, 2023
In Florida, interrogatories and requests for production are distinct discovery tools. Interrogatories are written questions that require written answers under oath, whereas requests for production ask a party to provide specific documents or tangible evidence. While both are part of the discovery... View More
Law enforcement told us we had to leave that the daughter of the owner doesn't want us there. But the property is still of deceased
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answered on Oct 5, 2023
When a property owner dies the ownership passes to the heirs. Unless you have a signed document (like a lease) to live in the property then you do not have any legal rights. You might be able to sue to recover the back taxes that you paid on the property but that does not give you an ownership... View More
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