The county issued a new deed of trust to me. After 4 months I started getting a bill showing that I also owed over $4,000 of the past persons bill as well, before I even requested billing from the water company. The water company is saying that they have a perpetual lien against my property. How is... View More 
answered on Dec 19, 2019
Your unfortunate situation is a textbook example why non-lawyers should always ask an experienced lawyer before they do something they have never done before. Unless you can somehow convince the water company to let you off their very sharp-barbed hook you are stuck. And no one else (who has a... View More
No property or savings except a vehicle. Can we donate that vehicle to offset the tax debt?
answered on Nov 18, 2019
The IRS can't go after life insurance paid directly to heirs for taxes due by the deceased or the estate. This is why it's very important to never name your estate as a beneficiary of a policy.
You can donate the vehicle to reduce the estate income tax on Form 1041. This is... View More
answered on Sep 23, 2019
Consumer criminal usury is more than 45% under CRS 18-15-104.
No cap on business rates.
I have a client who was given an $80,000 car from a charitable organization. Will she have to pay taxes on it?
answered on Aug 12, 2019
State income tax can be discharged in certain circumstances. First step is to send them a copy of the discharge.
Called the title company back 3 days later when I realized I needed to pay the 2% tax. They had already sent in the paper work in. They said get with your tax adviser. Did not want to get in trouble for signing saying I live there & not paying 2% right now.
answered on May 28, 2019
There are several different ways to solve this problem--all of which should be documented as fully as possible. Any tax advisor should be able to help you.
Our board is trying to purchase new water meters for everyone in our community. We are trying to upgrade our water system in Falcon Heights. We have a member in our community who was a past president who wants to be at our executive sessions. So he is bringing up the Sunshine Law. And says we... View More
answered on May 20, 2019
Executive sessions are normally just that: not open to the general membership. Look at the C&Rs and bylaws.
That I might owe Colorado student loan or court cost I'm not getting a Colorado refund but I'm getting a federal refund can can Colorado take my federal refund
answered on Apr 20, 2019
Yes. It'll depend on who exactly you owe and what stage the collections activity is at but they can intercept at a certain point.
I would suggest proactively resolving the matter prior to an intercept.
At the beginning of the year, I accepted a job for a company that offered to relocate me. I moved from San Diego to Denver. They paid for everything: household goods, vehicle transportation, temporary lodging, etc. I did not see a single contract or receipt for any of those expenses. They were paid... View More
answered on Dec 27, 2018
Yes, under the Tax Cuts and Jobs Act relocation expenses are now taxable to the recipient whether paid on their behalf or given to the employee in cash.
You also cannot deduct these expenses on your personal return unless you fall within a specific military exemption. This all went into... View More
answered on Dec 11, 2018
Yes, the majority of the provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) took effect 1.1.2018. Some did not, most notably accelerated depreciation took effect 9.27.17 and the ACA penalty is removed 1.1.19.
answered on Nov 24, 2018
It's always better if you can build a professional relationship before the disaster strikes.
My suggestions would be to call them up and talk to them. Sign an agreement. Put down a retainer of an agreed upon amount. If anything happens you have a lawyer retained and they know... View More
The 8332 is for all years and states the same in our divorce decree. I am in arrears from 2016 and 2017 that just got a judgement on it. I understand they will take my return, but can I still claim my child?
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answered on Nov 17, 2018
The new Tax Code changes as a result of the Jobs Act removed your ability to claim a child as a dependent. You may still be eligible for child care tax credits. This is the first year for the new changes and you may be surprised (happy or mad) about the results.
Best,
Chad... View More
Back taxes for 2 separate corporations that were started in Montana. Seeking a lawyer in Denver Colorado as that is where the i currently reside. Does the sought out lawyer in Colorado need to have jurisdiction in Montana in order to help me?
answered on Oct 20, 2018
Tax is not restricted to only attorneys that are licensed in the state. I have cases in about 10-11 different states. I'd have to go count them to be sure.
A Colorado attorney can help you with this issue.
Company is not located in USA. Another company office is used as delivery. All vendor invoices are invoiced to the international entity. Do we have to pay the Vendor Colorado Sales tax?
answered on Oct 6, 2018
Unlike VAT, sales tax is paid by the vendor at point of sale. So, if the purchase was in Colorado, the vendor must report and pay sales tax on the sale unless there is an exemption under state law. Such exemptions often exist for non-profit charitable entities with § 501(c) status, but the... View More
Printed goods supplied, invoiced paid by an international company located outside the USA. Goods delivered to another company located in Colorado. Does the International Company have to pay state tax for the goods?
answered on Oct 5, 2018
It's going to depend on the goods and services provided. Is the company paying for a service or a good? Services are not subject to sales tax, goods are. If I have my brakes changed am I buying brakes, the installation service, or both? The first step would be an analysis of what was purchased... View More
On September 15th 2014 I moved out of Colorado to Utah and have resided there ever sense. 2014 tax year I simited a partial year tax return to both the state of Colorado and Utah. Now Colorado is claiming that I own them back taxes for the tax your 2015 of just over $4,000. All of my income for... View More
answered on Sep 20, 2018
Colorado is incredibly aggressive regarding residency for income tax purposes. You're going to have to provide evidence that you were not physically in Colorado and that you had changed your residency to Utah. Here's a CO Dept. of Revenue ("CDOR") FYI publication explaining... View More
answered on Sep 14, 2018
When an individual passes their property receives a step-up in basis to the current Fair Market Value either on the date of death or what's call the alternative valuation date. There are reasons to pick either I won't go into that right now.
What is basis? It's what you paid... View More
answered on Aug 23, 2018
If it's a repair you deduct it in the year it's incurred. If it's an improvement you adjust basis and depreciation.
Any expense that is incurred under the ordinary and normal course of a trade or business is deductible. 26 USC 162.
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