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Questions Answered by Jeffrey Anton Collins
1 Answer | Asked in Tax Law for New York on
Q: What does our church need have in line to legally rent to a for-profit daycare?

We (the church- 501c3) have been renting to a daycare for 30 years. It is a for-profit. The church has been renting for 1/2 market-value. There is no lease and they are paying via a "donation". It is my understanding that the IRS still considers that "rent". Is that accurate? I am also... Read more »

Jeffrey Anton Collins
Jeffrey Anton Collins answered on Sep 18, 2019

My experience with 501(c) exempt organizations is limited. But I can provide this:

The church should be concerned about what is called "Unrelated Business Income". The Internal Revenue Service defines the income generated from unrelated business activities as income from a trade or business...
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1 Answer | Asked in Tax Law for Mississippi on
Q: My husband & my mother-n-law filed our taxes & signed my name without my consent or my knowledge of him claiming me.

My husband refused to give me any of the money. Is there anything I can do legally? He also claimed my 2 children who were in my sole custody.

Jeffrey Anton Collins
Jeffrey Anton Collins answered on Sep 17, 2019

It sounds like you suspect that your husband has acted fraudulently. This situation is much more common that you might think. Therefore, IRS has organized several methods for you to report the tax return filing, to report the inappropriate claim of dependents, and to clear your good name. You will... Read more »

2 Answers | Asked in Tax Law and Business Law for California on
Q: My husband and I have an s-corp in CA and we are the only officers in our s-corp.

Are our medical expenses considered business expense and can be deductible for the s-corp?

Jeffrey Anton Collins
Jeffrey Anton Collins answered on Sep 9, 2019

I agree with Attorney Blackburn that the premiums may be deducted. The expenses may be deductible as compensation to the recipient. However, this is not advised because they become subject to payroll taxes at both the company and individual level. This treatment may be more helpful when there are... Read more »

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2 Answers | Asked in Tax Law for Maryland on
Q: I sold a home that I’ve occupied as my primary residence for the last four years. Do I have to pay taxes on the profit?

The home was sold in Maryland, the home was my primary residence and I occupied the home continuously from 2015-2019

Jeffrey Anton Collins
Jeffrey Anton Collins answered on Sep 9, 2019

I do agree with Attorney Blackburn.

When you file your return, please make certain that you supplement Form 1040, Schedule D and Form 8949, to include a statement that references 26 U.S.C. § 121 - U.S. Code - Exclusion of gain from sale of principal residence. Be certain that you read the...
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