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Sister passed away a few years ago in Indiana. She had no spouse or children and left no will, but did list a sibling as an insurance beneficiary.
answered on Aug 27, 2024
When a person dies, their assets must go through a legal process called probate. This process involves identifying the deceased's assets, paying off debts, and distributing the remaining assets according to the terms of their will. If your sister had a will, then the home goes to the named... 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
I am wanting to start a business on Printify and want to know what licenses or certifications I need for tax purposes, if I need anything on behalf of my business, if I even need to register as a business, etc. I have no idea where to start.
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answered on Jun 19, 2024
To start a business on Printify, which is a print-on-demand platform, you may need to consider the following licenses, certifications, and tax requirements:
1. Business structure: Decide on the legal structure of your business (sole proprietorship, partnership, LLC, or corporation). This... View More
My mother-in-law owns a large tract of land in Iowa with her sister. Her sister recently died, so her portion will be inherited by her 3 children. My mother-in-law wants to know the best thing she can do with her portion. She's worried if she decides to sell her property, she will be paying... View More
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answered on May 7, 2024
There are a few strategies your mother-in-law could consider to minimize tax liability on the inherited land:
1. Step-up in basis: If she holds onto the property until her death, her children will receive a "step-up" in cost basis to the fair market value at the time of her death.... View More
by a third party/bounty hunter company?
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answered on Apr 18, 2024
The laws regarding tax sale property surplus funds and the fees that third-party companies can charge for assisting owners in claiming those funds vary by state and jurisdiction. Many states do have limits on the fees that can be charged, but the specifics differ.
For example:
1. In... View More
Although my daughter's permanent address is in IN, she lived at college and worked in IL all year. Her W-2 forms indicate IL state taxes withheld and she is filing an IL non-resident tax form. She did not earn any money in IN. Why is she being taxed by IN?
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answered on Apr 7, 2024
Based on the information provided, it seems your daughter's tax situation is as follows:
1. She is a permanent resident of Indiana (IN) for tax purposes.
2. She earned income in Illinois (IL) while attending college there.
3. Her W-2 forms show that Illinois state taxes... View More
Girlfriend is unemployed and hasn't worked a job ever if that helps in anyway.
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answered on Mar 2, 2024
No, if your girlfriend gets married in 2023, her mother will no longer be able to claim her as a dependent on her tax return.
Once a person is married, they cannot be claimed as a dependent by another taxpayer, regardless of age, student status, or amount earned. The IRS rules state that a... View More
if not does it require business or a lawyer to do so
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answered on Feb 28, 2024
In Indiana, the process for claiming tax deed surplus funds is guided by specific legal regulations. Generally, the original owner or their legal representative has the right to submit an application for the return of surplus funds. This means that an individual, on behalf of the former owner, can... View More
When child support was established, we also signed an agreement with the prosecutor saying that we take turns every year claiming the kids on taxes as long as I am a certain percentage caught up on my child support, and if I’m not, then I’m not able to claim them that year. So earlier in the... View More
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answered on Feb 25, 2024
Based on the agreement you signed with the prosecutor, you still need to meet the requirement of being caught up a certain percentage on child support in order to claim the children on taxes, even though your ex has temporarily stopped the formal child support order.
The key factors here... View More
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answered on Jan 26, 2024
I'm truly sorry to hear about your loss. In terms of filing taxes for your granddaughter, there are a few key points to consider. First, if you have legally adopted your granddaughter or are her legal guardian, you may be able to claim her as a dependent on your tax return. This depends on... View More
F. Student Loan Debt Discharge
Under Section 9675 of the American Rescue Plan Act of 2021, student loans discharged
between Jan. 1, 2021, and Dec. 31, 2024, inclusive, are excluded from federal gross income
under IRC § 108(f)(5). Under IC 6-3-1-3.5(a)(30), student loans... View More
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answered on Jan 22, 2024
Regarding your student loan forgiveness in Indiana under the IDR (Income-Driven Repayment) adjustment, it's important to understand how state tax laws apply. The American Rescue Plan Act of 2021 exempts forgiven student loans from federal income tax between January 1, 2021, and December 31,... View More
Going through a divorce and wondering if the amount could change for someone on disability if they claimed 1 vs 3 kids on their tax return.
How is this split best handled when custody is split evenly?
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answered on Jan 7, 2024
For a single person on disability, the ability to claim a child on taxes and potentially receive more in tax benefits than what they put in depends on several factors. These include their income level, the amount of Social Security Disability Income (SSDI) or Supplemental Security Income (SSI) they... View More
For asset protection and Tax minimisation purposes, for rental properties in Indiana that is owned by a Series LLC (ie. Example LLC - Scenario Series) formed in Texas, should the full series entity name (ie. Example LLC - Scenario Series) be registered with Secretary of State Indiana for foreign... View More
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answered on Jan 3, 2024
In your case, dealing with a Texas Series LLC owning rental properties in Indiana, the registration with the Indiana Secretary of State (SOS) requires careful consideration. The Series LLC structure is unique in that it allows for separate series or cells within a single LLC, each with its own... View More
If I file taxes and pay the amount that I agreed to in 2023, file W-4 exemption for 2024, and not “file” 2024 taxes February 2025. Will there be consequences and if so what would they be . Is the IRS and federal government legally allowed to require me to pay income taxes if I claim W-4 exempt.
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answered on Dec 25, 2023
Claiming exemption on your W-4 form for 2024 means that no federal income tax will be withheld from your paycheck for that year. However, this does not exempt you from the legal obligation to file a tax return if your income exceeds the IRS filing threshold.
If you choose not to file your... View More
Father's exwife owns the property. People that live in the house pay him, not her, directly the monthly amount to cover the mortgage payment on the property and nothing more. Is this considered "rental income" and should it be reported to the IRS? If so, who's taxes should it... View More
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answered on Dec 25, 2023
In this scenario, the money received from tenants to cover the mortgage is typically considered rental income and should be reported to the IRS. The key factor isn't the amount received but rather the fact that payment is made for the use of the property.
As for whose taxes it should... View More
I am buying a house on contract from a company under the impression that the land, garage, and house were on one deed. However, I discovered that the land and garage are on a separate deed from the house, which the company does not own. Additionally, there are 7 years of back taxes owed on the... View More
answered on Jun 9, 2025
Without seeing the full deeds and the purchase contract, together with any amendments to that contract, any answer would just be a guess.
Please see a local real estate lawyer and ask them to give you an informed opinion after obtaining and reviewing all of the facts.
Good luck.
My husband's grandfather passed away nearly two years ago, leaving behind a home and construction business assets. He had four daughters, but only one survives; my husband's mother, one of his daughters, has also passed away. Since my husband's grandfather's passing, my husband... View More
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answered on May 15, 2025
If your husband pays the property taxes to stop the sale, it may be possible to recover the money—but only under certain conditions. Since he isn’t a legally recognized heir or administrator of the estate at this moment, any payment he makes would be voluntary unless he's acting under... View More
I own a residential property in Indiana, and I've noticed that the assessment for my land and structures increased by 6% from 2024 to 2025. Is there a cap to this increase at 2%, and how should I address or contest this increase if it exceeds such a limit?
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answered on May 15, 2025
Your frustration is completely understandable—property assessment increases can feel sudden and confusing. In Indiana, there isn’t a strict 2% cap on assessment *increases* themselves. What is capped is the amount of property tax *you pay*, based on your property’s gross assessed value. For... View More
I filed an Indiana business zero return for a pass-through entity but did not file a composite return due to oversight by my Colorado tax preparer, who was unaware of the requirement. As a result, I received a $500 penalty notice on 4/28/2025 for the 2024 tax year. I have not yet contacted Indiana... View More
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answered on May 14, 2025
Yes, you may have valid grounds to request a waiver of the \$500 penalty based on reasonable cause. Since this was a zero return for a pass-through entity and no tax was actually owed, the state may view this as a non-willful error, especially if this was your first time filing in Indiana. The fact... View More
I sell handmade items in person at reenactment events, approximately two times a year, and typically earn around $1,000. These events are held about 30 minutes from my home in Indiana. I haven't registered my business or obtained a business license since my goal is not to make money but just... View More
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answered on Apr 16, 2025
You’re engaging in isolated, occasional sales of handmade goods rather than operating a regular retail business, so Indiana treats those transactions as “casual sales.” Under 45 IAC 2.2‑1‑1(d), gross retail tax does not apply to casual sales of tangible personal property (other than... View More
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