Get free answers to your Tax Law legal questions from lawyers in your area.
My father passed away intestate in Arizona and owned a small manufacturing business that makes cabinets and does epoxy floor coatings. He had an unspecified tax liability and no other significant assets, except for a small personal bank account. How should I proceed with handling his estate and... View More 
answered on Apr 1, 2025
The first step is to determine the value of the assets in your father's estate and also the amount of the debts. Your father's CPA may be able to help. Or you may need to hire a business appraiser or business broker to determine the business value. If there is no real property and the... View More
I own 25% of an industrial property, which I inherited in 2017 after my mother's passing. The property was initially purchased by my parents through a 1031 Exchange before their divorce and before I received my share. An appraisal was conducted in 2023 when my father refinanced the property.... View More
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answered on Mar 13, 2025
If the property was included in your father’s taxable estate when he died, which is likely, then its basis is now date of death value. If you sell you would only need to pay taxes on the appreciation since date of death.
I just found out I am a joint owner of a property that dates back to a previous marriage 30 years ago. Just was served with a lawsuit to take ownership of thr property via proprty tax lien. I have no interest in the property but don’t want to hurt my excellent credit. Not sure if I should... View More
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answered on Jun 25, 2024
This is an important question regarding tax lien foreclosures and their potential impact on credit scores. While I can provide some general information, please note that for specific legal advice about your situation, you should consult with a qualified attorney in Arizona who specializes in... View More
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answered on Jun 14, 2024
When you receive money from the sale of a house where your name was added to the deed, whether you owe taxes depends on several factors. The key considerations include your ownership duration, the house's use, and any capital gains exclusions available.
If the house was your primary... View More
We run a business in Cyprus ( oversea). Can we create an entity in the US(LLC) in order to use this entity to sign up for an American Express Business Platinum Account. Since I am already an amex user in the US, I can transfer my credit history to my business account.
Our business is doing... View More
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answered on May 14, 2024
As a foreign business, it's important to carefully consider the legal and financial implications of setting up a US entity solely for the purpose of obtaining credit cards, especially if the intent is to avoid taxation. This could potentially be viewed as tax evasion by US authorities.... View More
I am a day trader with a 475 mark-to-market election, and I have a brokerage account where I am actively trading. I also have an investment account, in which I do not trade and a separate IRA account.
My husband runs a small company as a sole proprietor. Since his business carries a high... View More
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answered on Mar 14, 2024
Creating an LLC and transferring your brokerage accounts into it can provide an additional layer of asset protection, as it separates your personal assets from your husband's business liabilities. However, there are several factors to consider:
1. Charging order protection: Arizona... View More
I buy tax lien certificates in the state of Arizona. I am familiar with the foreclosure process as I have been doing this a few years now but I have a new one, the owner is deceased. Do I still send all the necessary documents such as 'Intent to foreclose' to his mailing address even... View More
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answered on Mar 11, 2024
When foreclosing on a tax lien where the property owner is deceased, the process can be more complex. In Arizona, you'll need to follow the state's probate laws in addition to the tax lien foreclosure procedures. Here are some general steps to consider:
1. Attempt to locate the... View More
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answered on Feb 26, 2024
It's understandable to feel frustrated and confused about your state refund being withheld for probation supervision fees. However, it's important to note that laws regarding probation fees can vary depending on your location and the specific circumstances of your case. While there may... View More
My business has no income yet. I'm just getting started doing Web Development and Technology Consultancy. My CPA mentioned I should check and see if the new CTA Law applies to me or not.
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answered on Feb 22, 2024
As a new LLC owner in Phoenix, AZ, you should be aware that Arizona's new Commercial Transaction Privilege Tax (CTA) law may apply to your business. The CTA law imposes taxes on various business activities, including web development and technology consultancy services. Even if your business... View More
My husband and I own an LLC business in Arizona with S-Corp tax status. (My husband is a self-published author, so our LLC falls into the Independent Artists category.)
I'm an oil painter and I now want to start selling my oil paintings online. I'd like to use a different name... View More
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answered on Jan 26, 2024
In Arizona, it is indeed possible for an LLC to operate under more than one "Doing Business As" (DBA) name. This allows a single legal entity, such as your LLC, to conduct various types of businesses under different names while maintaining the same underlying ownership and legal... View More
Let's say I purchase a tax lien on a property that has tax liens from 5 prior tax years owned by someone else. How does foreclosure work in this situation?
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answered on Jan 26, 2024
In Arizona, particularly Santa Cruz County, when there are multiple owners of tax liens on the same property, the foreclosure process works as follows:
1. The most recent tax lien takes priority. So in your case, you as the most recent tax lien purchaser would have the first priority... View More
I was determined to be the instigator. He got superficial scratches. I flew backwards through the air and broke my foot in 6 places in an attempt not to break my neck, head or worse. The whole situation started because he was driving drunk and I tried to take the keys of our car away from him. I... View More
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answered on Jan 22, 2024
To find a pro bono lawyer who can assist with your situation, you can start by contacting legal aid organizations in Arizona. These organizations often provide free legal services to those who qualify based on their income and the nature of their legal issues. They may be able to help you address... View More
Back to the schools general fund or can they be moved to a specific school club that accepts tax credits? The tax credits were donated in my name so wouldn't I be able to request where they are going?
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answered on Dec 25, 2023
When a school trip is canceled and you've received tax credit donations in your name for that trip, the handling of these funds can vary based on the school's policies and the specific tax credit program. Generally, tax credit donations are earmarked for specific purposes, and any... View More
I have a gym membership for personal use in Arizona which includes access to facilities like a sauna, massage chair, and group classes. The gym manager stated they have to charge sales tax because they have to pay taxes themselves. Should I be charged sales tax on this type of gym membership?
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answered on Apr 12, 2025
In Arizona, gym memberships are generally subject to sales tax under the state's Transaction Privilege Tax (TPT), specifically categorized under the "Amusements" classification. This includes health spas, fitness centers, and similar establishments that charge for access to their... View More
I am involved in a tort law lawsuit related to Zantac, and some aspects are already concluded. I was informed about a 60% tax concerning the contractual fees. However, I'm unclear whether this 60% applies to the total amount won in the lawsuit or just the portion I will receive. Could you... View More
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answered on Apr 12, 2025
In a tort lawsuit like the Zantac case, the 60% fee likely refers to the attorney's contingency fee or a portion of the settlement, not a tax. These fees are generally taken from the total amount awarded to you in the case. If the attorney has a 60% contingency fee, that means 60% of the total... View More
I filed my 2024 tax return on January 18th, 2025, and received a transcript. I need to submit an updated I-864 affidavit of support as soon as possible because a consular officer required it. Previously, my income was not sufficient, and I was asked to find a joint sponsor. Now my income meets the... View More
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answered on Feb 16, 2025
Yes, you can include both your 2024 tax return and assets in your updated I-864 affidavit of support. Your 2024 tax return, filed in January 2025, counts as your most recent tax year documentation and is valid for the affidavit.
Even though your income now meets the requirements,... View More
I lost my home of 20 years along with everything in it. Even my dogs.
answered on Feb 6, 2025
I'm sorry for the loss of your husband and your painful ordeal with the condemnation of your home. Something does not smell right here, in terms of aggressively accelerating an eviction and condemnation by turning off water to a resident. Reach out to attorneys in your state to try to arrange... View More
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answered on Oct 4, 2024
When a vehicle is registered in the name of a deceased person along with others, how the ownership is structured plays a crucial role. If the vehicle is held as joint owners with the right of survivorship, the ownership typically transfers directly to the surviving owners. In this case, the... View More
Should there be an itemized of all property that is sold
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answered on Oct 3, 2024
As an executor in Missouri, you are entitled to a reasonable fee or a percentage of the estate's value for your services. This compensation is typically determined by state law and local court guidelines. It's common for the fee to be based on a percentage of the estate’s value,... View More
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answered on Aug 25, 2024
When a trust pays an attorney more than $600 in a calendar year, the trust generally needs to issue a Form 1099-NEC to that attorney. This applies to both individual attorneys and law firms, regardless of the amount of work performed. The form is used to report non-employee compensation to the IRS.... View More
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