If you're working part-time while collecting Social Security Income (SSI) and are 68 years old, the need to file taxes depends on several factors, including your total income, the source of that income, and your filing status. Social Security benefits, such as SSI, are not taxable income by...View More
If your business partner pays off your boat and vacation home instead of paying you by check, it would still be considered a form of compensation for your services or ownership interest in the business. This means that you would likely still owe taxes on the value of the boat and vacation home...View More
As an international student, you may be eligible to include the 1098-T form when filing your taxes in the United States. The 1098-T form provides information about qualified tuition and related expenses paid to an eligible educational institution, which can be beneficial for tax purposes. However,...View More
As an international student in the United States, you might receive Form 1098-T if you have paid tuition or related expenses during the tax year. This form is typically used by students to claim education credits like the American Opportunity Credit and the Lifetime Learning Credit....View More
It's crucial to grasp the distinction between employment and investment. While some argue that making money through investments could be seen as work, especially when you're dutifully filing taxes, it's essential to play it safe. As a non-U.S. resident here solely for studies,...View More
If your mother was the owner of a life estate and she sold her interest in the life estate then the proceeds from the sale should have been earmarked for your mother only and the 1099-s should have consistently named your mother as well. Once your mother received the proceeds, unless there are...View More
The tax owed is a lien against the land, not the owner personally. Owner's name is listed so he gets a tax bill. Notify the County taxing authorities of the change of ownership, but do not be surprised nothing changes until the deed is of record.
I lied about having a permit cause there was 3 police cars Kentucky is church bell im trans I was just wanting to learn I wish I can go back and tell them I was just trying to learn how to drive what will happen in court ? Or the outcome will I be in jail for along time it’s my first ever law... View More
I was ordered to pay cs for 6 yrs on my two kids. 2 seperate cases. i have done 180 days x2, plus got 2 seperate felonies. one for 2 yrs and one for 1 yr. I am primary custodian again and have them back in my home fulltime. My aunt who had them is no longer in the picture and drew a kinship check.... View More
A spouse is only liable for taxes that are filed jointly with their husband or wife. Having said that any assets that you hold jointly may be subject to lien or levy. For example, if you own a home together the IRS can seize your half of the equity in the home.
me and my fiancé were asked to move here from Florida to run a warehouse for the company we work with. we just recently found out that Kentucky has state taxes but our company has not been taking out state taxes on our paychecks. How do we fix that? Will that mean that we will owe money when we... View More
Check with HR to see what address they have on file for you. You're likely still listed as living in FL so you haven't been setup as a KY resident for payroll. Another problem could be that you need to update your W-4 for state withholdings.
Your taxes are your responsibility. If...View More
I live in Subsidized housing (rent based on income), recently the re-certification person requested a copy of my 2019 Federal Income tax in order for me to be re-certified. I feel that she was being nasty for no reason and unprofessional, simply because I was the ONLY one that turned in my tax... View More
I would review the documents provided by the program under which your housing is subsidized. Just pull the documents directly and see what they say. Then if you feel that the landlord has requested too much you have documentation to backup your claim and contact information for the organization...View More
My wife and I filed jointly in 2018 I made more than her that year. We also have two children 5, and 7. I own back child support. Will they not give my wife and children their Portion of the stimulus check? Also if it is offset will it go to my back support? I have read the 147 page bill signed... View More
In light of the moment-by-moment changes being made to federal, state and local laws as all the governments try to handle all aspects of the Corona virus pandemic sweeping the world--and all the new financial tricks going out of Washington--I have decided not even to try to answer any of the scores...View More
It depends on what you sell it for. If you sell for more than what you purchased it for plus any adjustments (adjusted basis) then you'll have capital gains. If you gift it you'll have a reporting requirement but likely no tax will be owed on the transaction. If you sell it for...View More
That depends on a number of additional factors. An LLC is almost always better than nothing. And the S-election requires an entity to be accepted. So the LLC is essentially a foregone conclusion. The question becomes to s-elect or not.
That question becomes first an issue of eligibility....View More
It's going to depend on the language in the settlement. That will determine when the property passed, whether as a gift or as part of the estate. If the settlement did not address the issue then I would think the gift would stand as completed and carryover basis would apply. It would be...View More
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