If you operate a a WA company from OR WA still taxes you on any income since you're a resident. The only way to avoid that would be to operate the company as a corporation and don't take any salary or dividends.
My lawyer says because of my age my son must charge me rent,is this true
There's not really enough facts here to give any real analysis, but if you're not getting a valid explanation form your attorney then you may want to go find a new one who can explain exactly why rent would be required in this situation.
Basically this guy is claiming that you can write off a car lease 100% as a business expense assuming the lease is made under the business name and as long as you create an agreement between you and your company stating that if I cover the cost of maintenance, insurance & upkeep, then the company... Read more »
No.
First of all it doesn't matter what sort of agreement you have the IRS will look at what actually happened This is called form over function.
Second, your personal use of the vehicle is taxable as a wage or a guaranteed payment depending on the entity.
The correct method... Read more »
Would I have to hire an appraiser who does retroactive appraisals? Could I just guess based on comparable sales?
Historical appraisals and comps from the date of death.
I was sent an income under reporting notice by the IRS for my 2017 1040. The 1099K was reported to IRS from a credit card processing company I never did business with. I called the company and they admitted I had no account with them. The EIN on the 1099K belongs to a former payor. How do I fix... Read more »
They should issue a corrected 1099. If they won't you'll have to appeal and then file in US tax court and subponea them.
the breeder is apart of a multi level marketing company that represent the food that is being required with the purchase of the dog
Probably not, most breeder contracts are not enforceable. The problem is that you may have to spend 4 or 5 months in litigation to find out.
I would suggest not dealing with a breeder that wants you to sign a contract they pulled off some fly by night website or who is running an MLM. If... Read more »
I would like to know if notorized letter is signed in NJ will it help with changing name on property in PR. Not sure, what I need to do as my father is now in a nursing home. He never fixed the right papers to leave me the property. I don't know if the property will be lost?
No, a notarized letter is not sufficient to transfer real property. You need a properly drafted deed signed and notarized by your father. First you'll need to determine the ramifications of a transfer. Will this effect medicaid /medicare, will it be a taxable gift, does he have an estate plan,... Read more »
Prohibitum per se laws make things illegal for no reason other than the dictates of the state.
Inherited rental commercial property sold in 2019. Its 2019 Rent income received prior to sale. Past due taxes in total, inclusive of 2019 taxes, were paid at closing. When filing 2019 Estate tax returns for 2019, which is also Final Return, should these real estate taxes be claimed as deductible... Read more »
Property taxes related to a business are deducted in the year paid.
she lives with me all year with the exception he gets her one night a weekend and a few hours during the week. I've agreed to let him claim her every other year but he doesn't agree with that so what are my rights.
Just don't sign the 8832. The IRS requires the form for a non-custodial parent to claim a child. The IRS uses different rules than the state to determine custody. If he claims her anyway the IRS will send both of you letters requesting the form and evidence that you are entitled to the deductions.... Read more »
I relocated to Nevada but did not change my driver's license until 2012. I received a tax bill from the state of Alabama although I did not reside or earn any income in the state. Do I owe them anything:?
You're going to have to challenge the assessment and provide evidence of your status. The state is going to take the position you did not properly sever your ties to the state and you'll argue you did.
Retail business
Yes, he was snatched in the middle of the night by itinerant jazz players.
only a court order from an interpleader action filed in the county where the tax sale occurred, by the claimant for the funds, shall serve as justification for release of the funds.
You need to file an interpleader action in the county and prosecute the case.
Sounds like it's time to hire a professional.
A little more detail ... Grandmother passed away, grandfather years back. My parents are deceased. My 2 cousins and I are receiving the proceeds of the sales of all properties and accounts split 3 equal ways in accordance with Swiss law. My portion is estimated at roughly $1,085,000.... Read more »
Federally no tax will be owed since you're receiving the funds and the estate was outside the US.
Oregon taxes estates not inheritance, just like federal.
Because your Grandmother was not a resident of Oregon (or the US) the state (and IRS) can't tax her estate. As the recipient... Read more »
Estate earned rental income in 2018, which was claimed as rental income on its 2018 tax returns. Such monies in 2018 were not distributed at that time to beneficiary. In 2019, same money was now distributed to beneficiary. Does beneficiary now need to claim such monies as distributable taxable... Read more »
No, once it's taxed on the 1041 it becomes distributed corpus not distributed income.
Is the Company going to pay income tax from the products manufactured in SC, or merely for sale in SC (Sales and Use Tax) ?
Yes.
I have received a settlement from a Company in California that I had worked at 3 years ago. I am now a Florida resident. Do I have to file a 2019 California tax return?
The first step would be to determine if the settlement is taxable at all.
Assuming it is, California will likely claim it's source income from California and subject to tax. They often claim things that are not fully accurate.
Corbett v. Franchise Tax Board sets out 29 factors for... Read more »
No labor involved. I'm a middle man delivery service.
Generally if you're not paying for the item and re-selling it you don't collect the sales tax.
You'd have to check your state, county, and city to be sure.
Even though my tax debt is older than 10 years the statute of limitations was paused by the IRS for unknown reasons.
You'd have to review all transcript over the entirety of the period for which the amounts were owed to pull out the transaction codes to see where and why the CSED was paused.
I know that trying an offer and compromise and innocent spouse pauses the 10 year statute of limitations. However, what are all of the things that are going to pause the 10 year statute of limitations? Thank you.
Requesting transcripts does not pause the collection statute expiration Date (CSED).
For more information I would look at the Internal Revenue Manual 5.1.19
https://www.irs.gov/irm/part5/irm_05-001-019
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