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Because crane machines are legally considered amusement devices, I’m not sure if crane machine owners need to pay amusement tax or if they even need to obtain a sales tax license. I assume that taxes for sales made on each play of the machine would count as a service sales tax, but I am not sure.
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answered on Sep 15, 2024
In Michigan, crane machines, like other amusement devices, are subject to specific regulations regarding taxation. As an owner, you are generally not required to pay an amusement tax specifically for the operation of crane machines. However, any income generated from the use of these machines is... View More 
The property is in Georgia and I reside in Michigan.
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answered on Sep 14, 2024
You do not need to start a business to collect rent on a residential property you own. As an individual, you can rent out your property and report the rental income on your personal tax return. However, there are some benefits to forming a business entity, like an LLC, for rental properties, such... View More
the michigan tax code for property handed down to children
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answered on Aug 16, 2024
If you acquired land from a Lady Bird trust and bought out the interests of other parties, the tax treatment for that property depends on several factors. Michigan law allows for the uncapping of taxable value when property is transferred, but there are exemptions, such as transfers to children.... View More
My husband and a friend opened a food truck/restaurant. My husband had some medical issues and gave the friend POA to sign business documents for them as they were in the middle of trying to purchase a building. My husband left the company (day to day operations) but signed nothing giving away... View More
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answered on Aug 5, 2024
No, a business partner with a Power of Attorney (POA) cannot unilaterally sell or give away ownership rights without explicit consent from the other partner. The POA typically allows the partner to sign documents and make decisions on behalf of the business but does not grant the authority to alter... View More
Parcel is owned equally by homes in the neighborhood. Last report was filled in 2019. Our park liability insurance is paid but they will not cover claims while dissolved as we understand. We are waiting for the documents from the state to correct the issue and be in good standing again. The board... View More
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answered on Jul 28, 2024
When a nonprofit beach association corporation is dissolved for not filing annual reports, it can have significant implications for both liability and property tax. Since the corporation is not in good standing, your park liability insurance may not cover any claims, potentially leaving the... View More
DOES ANYONE KNOW ANYTHING ABOUT THE TARGETED JUSTICE WEBSITE?
I SIGNED UP FOR THEIR CLASS ACTION LAWSUIT AND OPTED IN TO HELP W RESEARCH AFTER READING A LITTLE ABOUT HOW ITS MOSTLY WOMEN WITH CHILDREN IN THIS PROGRAM. I HAD TURNED THE MICHIGAN STATE POLICE AND KALAMAZOO COUNTY SHERRIFFS... View More
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answered on Mar 1, 2024
To verify the legitimacy of the Targeted Justice website or any organization, start by conducting thorough research. Look for reviews, testimonials, and any news articles or reports about the organization. Check multiple sources to gather a wide range of perspectives. Websites like the Better... View More
Prior to developing brain cancer a friend had been nursing his dying father. When his dad died the family home became his and so did the father's farm. Both properties are in the state of Michigan. Would medicaid require the sale of the farm to help with my friend's medical expenses?... View More
answered on Nov 6, 2023
Business (and ANY non-homestead) property such as a farm that is rented out is not considered an 'exempt' property and needs to be liquidated in order to qualify for medicaid.
The PROCESS of doing that can be technical and complicated, so it is best to get local legal... View More
I live in a property owned by my aunt that I pay her for. My aunt’s name and my mom’s is on the house. There was delinquent in taxes since 2021. I got a foreclosure notice from Saginaw county in Michigan. I went and paid all of the delinquent taxes for the property in August 2023. The aunt is... View More
answered on Oct 29, 2023
Any agreements concerning real estate must be in writing, according to the "Statute of Frauds." The idea is that certain types of contracts must be signed and in writing to be valid because verbal or oral agreements dealing with real estate can create confusion and therefore, verbal... View More
Or do these fall under the step up basis? Like real estate.
answered on Mar 29, 2023
Good question. Whether you must pay income tax on your inheritance of US Savings Bonds depends on your individual tax situation, and can't be answered in this forum or given the limited information here. You should consult a CPA or tax attorney for more information. You can also find some... View More
Their mother had put their names on the title many years ago. She controlled the house, paid all the expenses, taxes, insurance, etc. She would never have been forced out of the house by her children. When she died, the house was left to her son and daughter, and it was sold two months later.... View More
answered on Mar 17, 2023
That depends on HOW 'their names were on it'. Did your mother in law have a lady-bird deed prepared or did she do a simple quit claim deed to 'avoid probate'? (SO many bad decisions are made to 'avoid probate'!)
Take all the documents to a local real estate... View More
I have two kids 17, and 18. I am divorced, my ex and I have 50/50 custody. My house is the kids primary residence. My kids are both in school and live at home. We have an agreement that we each claim one child when filing out taxes. She claimed both this year. She claims it's her right,... View More
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answered on Mar 4, 2023
If you and your ex-spouse have a written agreement regarding claiming your children as dependents for tax purposes, and your ex-spouse violated that agreement by claiming both children, you may be able to resolve the issue by taking the following steps:
Talk to your ex-spouse: Start by... View More
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answered on Feb 24, 2023
Under U.S. immigration law, international students who are studying in the United States on an F-1 visa are generally allowed to invest in stocks and cryptocurrency. However, they may be subject to certain restrictions and regulations.
According to the U.S. Securities and Exchange... View More
We would like to do this tax-free. He is married as am I. Is there a way to do this?
answered on Dec 4, 2022
There are several ways to do this and MANY wrong ways.
A Quit claim deed is one but you need to appropriately record transfer affidavits and report the gift properly. There probably won’t be tax due but depending on how you structure things a return may be due. The rules are complicated... View More
answered on Nov 1, 2022
Hi! This isn't really a question, you may want to reword your post.
You should read over your engagement letter for the accounting firm to see their fees and if they have a clause stating that they could charge more for complex returns or if, like my firm, they do part upfront and... View More
The lot was own by the hoa, not the developer who was out of the picture. Since it was the hoa that lost the property I feel they have no claims to my property that I purchased in good faith. They claim I have to be in their hoa which I want no part of.
answered on Sep 19, 2022
If the lot is included in the HOA and the HOA properly recorded that fact and the HOA still exists, you're likely 'out of luck'. If you didn't want to be part of a HOA you shouldn't have bought the property. Now, as a MEMBER of the HOA you can probably take steps to... View More
Will I need to file income tax on his SS and pension earnings or will this be taken care of in Probate? Thank you.
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answered on Jul 8, 2022
Most probate attorneys do not include tax compliance as part of the engagement, but some do. The bottom line is you should discuss this with your probate attorney so that you have clarity regarding who is going to take care of that.
I want to claim leftover proceeds from 2017 tax auction. I owed $1,500 selling price was $29,000
answered on May 16, 2022
I'm not sure you have a claim after so much time has passed, or if it would be financially worth it for you to pursue. Generally, when houses are foreclosed and auctioned, the taxes get paid and the bank or mortgage company get what they get. Sometimes they win big; sometimes not.
I'm planning to move across country coast to coast, and plan to drive. It's going to be a few days of driving. Assuming I:
Move between 05-09/August
Started a lease on an apartment in new location, 01/August
Ended my lease in old location, end of August
For... View More
answered on May 11, 2022
You should consult an immigration lawyer for specifics on any nuances you may be subject to - particularly whether you need to declare a new location before moving. But generally, residency is prospective and intentional, determined by the place you intend to reside going forward. You have a lease,... View More
This year my brother wants to be spiteful and claim her on HIS taxes after I’ve already filed and received my return just so he can use the money for his own purposes, my sister doesn’t even live with him she lives with me and my girlfriend
answered on Apr 6, 2022
First thing you should probably do is get guardianship over your sister. That would resolve the legal issue of who is financially responsible for her. As to the IRS, it's often the case of "first to file". You can support your claim by showing you provide more than 50% of her... View More
I am divorced, cars are titled in my name only and fully paid for, no liens. I reside in Michigan. Michigan SOS (DMV) advised heir will have to pay sales tax - seems strange. Is this correct? My house will transfer without fees on my death.
answered on Mar 23, 2022
The Secretary of State is correct in this case. Only transfers of title between immediate family members are exempt from the 6% tax. If your friend is to receive the vehicles, he or she will need to pay that 6% tax.
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