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Your current state is Ohio
After numerous calls the secretary quite curtly tells me I sign a form when I brought in the taxes that said they would be late. This is not true because I mailed the original documents to them. Do I have any recourse for penalties I will receive
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answered on Jul 26, 2024
You have a few options to address the delay with your accountant. First, gather any proof you have that you mailed the documents, such as postal receipts or tracking information. This evidence will be crucial in disputing the secretary's claim that you signed a form when you brought in the... View More 
Not being a U.S. citizen or resident alien, I have not signed a W2, I-9 or W-9 form or filed a 1040 form as I do not reside in the United States per 26 USC 7701(a)(9) and (a)(10) nor do I reside in the State of California: I have refuted the presumptions and denied the allegations presented by... View More
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answered on Jul 26, 2024
Based on the information provided, if you are not a U.S. citizen or resident alien and do not reside in the United States, third-party information returns like a 1099-K alone do not automatically create a federal or state tax filing liability. Your status as a non-resident alien under 26 USC... View More
my Brother sister and I inherited a house from our dad who passed away. He did not live in that house as his primary residence. We are selling the house. It is in escrow. Do we have to pay California tax on the sales price?
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answered on Jul 26, 2024
When you sell an inherited house in California, the key factor for tax purposes is the stepped-up basis. The stepped-up basis is the property's fair market value at the date of your father's death. This value is used to determine the gain or loss when you sell the house.
If the... View More
It will be 57000
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answered on Jul 26, 2024
If your son is receiving an inheritance of $57,000 from his grandmother and you open a joint account with him, the inheritance itself is not subject to federal income tax. Generally, inheritances are not considered taxable income for federal tax purposes.
However, placing the inheritance... View More
If I have clients in states that I do not reside in and I sell them products. Do I need to have a sales tax ID for each state that they reside in?
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answered on Jul 26, 2024
When you sell products to clients in different states, you might need to collect and remit sales tax for those states. This depends on whether you have a sales tax nexus in each state. Nexus is typically established if you have a physical presence, significant economic presence, or meet certain... View More
My father runs a cleaning (franchise) business that is under my name, but I am not actively involved and I do not receive proceeds. It opened in late 2017 and didn't see any revenue until 2018 when it first acquired contracts. I'm looking to transfer ownership to my father for the... View More
answered on Jul 26, 2024
You can transfer 100% of your interest in the business to your father. You will be legally responsible for all taxes incurred by the business prior to the effective date of your transfer of your ownership interest.
She (Tassie Grantham) sold the Sasstass & The Pour Horse Mobile Bar Co. LLC after reinstating on 5/9/24. On 5/14/24 there is a certificate of amendment. I paid 12K as my deposit. I am now in the design process stage but the new owner is MIA and the fabrication shop has closed. I believe this is... View More
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answered on Jul 26, 2024
The contract you entered into on 2/7/24 with the business that was in tax forfeiture at the time may still be legally binding, but it complicates the situation. When a business is in tax forfeiture, it means the company has failed to pay certain taxes, which can impact its legal standing. However,... View More
License suspension for 16,000 in state individual income tax, there fore rendering me jobless . Due causing financial hardship
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answered on Jul 26, 2024
You can consider legal action against the Louisiana Department of Revenue if you believe the license suspension due to unpaid income taxes is causing you undue hardship. This situation can be complex, and it's important to ensure that all administrative remedies have been exhausted before... View More
If assets in my will shall pass to a minor and I have named a guardian in the will, must the guardian be approved and monitored by the court?
On the other hand, if the assets are passed to a trustee (whom is also named), must the trustee be approved and monitored by the court?
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answered on Jul 24, 2024
If you've named a guardian in your will for a minor beneficiary, the court typically needs to approve this guardian to ensure they are fit to take on the responsibility. The court's approval process involves verifying the guardian's suitability and may include ongoing oversight to... View More
They badly dropped my credit. Also they are being sued in California but I wonder if it had anything to do with the taxes of federal witheld. Is it normal for a company not to tax you federal taxes if the gross pay is lower than $1000.00 but yet when they taxed me on a check which was a christmas... View More
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answered on Jul 23, 2024
If your credit score was damaged due to your employer's mistakes, it's important to address this issue directly. Start by gathering all relevant documentation, including pay stubs, child support payment records, and any communication with your employer. Contact the credit bureaus... View More
Is it legal to deduct credit card processing fees from an employees paycheck without knowledge or written consent? Is it legal to make an employee cover cash till shortages without written consent?
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answered on Jul 23, 2024
No, it is not legal to deduct credit card processing fees from an employee's paycheck without their knowledge or written consent. Employers must obtain explicit authorization from employees before making any such deductions. This protects the employee's right to understand and agree to... View More
Good morning. I have a question about filing IRS form 433-f (Collection Information Statement) for the purpose of requesting "Account Not Collectible" status in regards to several unpaid and/or unfiled tax years. In the section asking about home equity - do I need to include my home and... View More
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answered on Jul 23, 2024
Good morning. When filling out IRS Form 433-F, you do need to consider the home equity section. However, since you are purchasing your home under a Contract for Deed and the title is still in the seller's name, you technically do not have ownership or accessible equity in the property yet. In... View More
I want to avoid capital gain taxes as much as possible.
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answered on Jul 23, 2024
Using money from the sale of property to pay down your mortgage can be a wise move, but it requires careful consideration of your overall financial situation. Paying down your mortgage can reduce your monthly expenses and the amount of interest you pay over time. However, it's important to... View More
My son bought my house on 3 acres. He could not finance the adjoining 20 acres. I would like to give it to him the best way for him to pay at least in taxes
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answered on Jul 21, 2024
To transfer the adjoining 20 acres to your son in the most tax-efficient way, you should consider gifting it to him. Gifting property can often be done without significant tax implications if the value of the land is within the annual gift tax exclusion limit, which is $16,000 per recipient as of... View More
Or is it, if I owe a grand total of 30k in property taxes each year, I would only have to pay roughly 5k? This is Indiana Code law
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answered on Jul 21, 2024
In Indiana, under the statute 6-1.1-12-13, a property tax deduction is provided for certain individuals. If you purchase a $500,000 home, this deduction would reduce the assessed value of your property by $25,000. This means your home would be taxed as if it were valued at $475,000 instead of... View More
The beneficiaries have not changed. There are only 2. What needs to be done to update this trust before my mother dies, to avoid any tax issues at her death. We are very confused what needs to be done ( property was the only thing in the trust. 1 house, which she lives in and a piece of land. That... View More
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answered on Jul 18, 2024
To update your mother's A B trust, it's essential to take a few steps to ensure everything is in order before her passing. Since your father passed away 13 years ago and your mother was unaware of any required actions, the first step is to review the trust documents to understand the... View More
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answered on Jul 18, 2024
Yes, it is permissible for a minority member in a manager-managed LLC to act as a paid manager via a management-services agreement. However, this arrangement must comply with the LLC’s operating agreement and any applicable state laws. It's important to ensure that the agreement is clearly... View More
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answered on Jul 18, 2024
To determine your tax residency status for 2024, you need to consider the substantial presence test used by the IRS. Since you arrived in the U.S. on March 15, 2024, and have spent 176 days in the country so far, your stay in Puerto Rico will also count towards your total days in the U.S. for tax... View More
In 2020 I filed my taxes n they informed me that there was a return for 2016 that was falsified with a dependent I shouldn't of claimed so I told them it was id fraud that I was in jail and they said they would have to investigate the matter n it could take up to a year but that I should keep... View More
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answered on Jul 18, 2024
It sounds like you're in a tough situation with the IRS. Since you've already provided proof that you were incarcerated during the years in question and reported the identity theft, it's crucial to follow up on their investigation. The IRS should not be holding you responsible for... View More
Thanks for taking my question. I have just been sentenced to federal probation and ordered to pay restitution to an injured party. However, I also owe money in back taxes to the state of Illinois for unpaid taxes from 2021. A condition of my probation is that I file a tax return this coming spring.... View More
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answered on Jul 18, 2024
When you file your tax return and are issued a refund, the government will prioritize payments based on the specific laws and regulations governing your situation. Typically, the IRS will apply your federal tax refund to any outstanding federal tax liabilities first. Since you are on federal... View More
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