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Questions Answered by Michael W. Eaton

1 Answer | Asked in Tax Law for Virginia on

Q: If I won a ring worth 15k would I have to pay taxes on it since it was a prize?

Michael W. Eaton answered on Mar 21, 2011

The short answer is "yes". The only open question is that of what tax year is the proper one for reporting.

1 Answer | Asked in Tax Law for Arkansas on

Q: Do I need a lawyer to assist with settling back taxes

Michael W. Eaton answered on Mar 21, 2011

As a general rule, you will save time, money, and frustration by having a tax professional represent you in any situation in which you owe taxes. It is especially true in cases of federal income taxes that a qualified tax attorney can be your best asset, and in many cases, the amount of money... Read more »

1 Answer | Asked in Tax Law for Texas on

Q: Dallas county is charging personal property tax on my motorhome. is that legal. texas tax code 42.002 (9).

Also why are they not charging anyone that owns a dually truck. Acording to the code 2,3 and 4 wheel motor vehicles are exempt. They don't charge for a dually truck. why can they charge me for a dually motorhome?

Michael W. Eaton answered on Mar 21, 2011

I don't know what Tax Code you are looking at but there is no Sec. 42.002 of the Texas Tax Code. and Sec. 42 that is in the Code deals exclusively with Judicial Review of tax assessments. The relevant portion of the Code is as follows:

Sec. 11.14. TANGIBLE PERSONAL PROPERTY NOT PRODUCING...
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1 Answer | Asked in Tax Law for Texas on

Q: Do i need to report a seetlement in my w2 taxes

Michael W. Eaton answered on Mar 21, 2011

It all depends on the nature of the settlement. If the settlement is for an injury, for example, the IRS treats that as a "like kind exchange", and no tax is due for the portion of the settlement that is specifically allocated to the injury. However, any portion of a settlement which is for lost... Read more »

1 Answer | Asked in Real Estate Law for Texas on

Q: Can my hoa talk in public about my HOA' dues being behind in public?

Michael W. Eaton answered on Mar 21, 2011

It depends on what you mean "in public" and how they do so. Under some circumstances, even if that is true, it could be actionable against the HOA, for various tort causes of action including making private facts public, and intentional infliction of emotional distress. if the making public is... Read more »

1 Answer | Asked in Real Estate Law for Texas on

Q: House built with cash how to get deed or title

Michael W. Eaton answered on Mar 21, 2011

I assume you have a deed for the land upon which the house is built. The general rule is that all permanent improvements constructed on any land become a fixture on the land and are part and parcel of the real estate for purposes of title. In other words, if you have a deed for the underlying... Read more »

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