Estimates without documentation are not good enough for the IRS. You need to work with a tax accountant or CPA to reconstruct some sort of paper trail for your expenses. Otherwise, your eligibility for a student loan is going to be the least of your problems. If the IRS denies your deductions for... View More

By paying "state or county tax" I am going to assume that you mean 'transfer" tax. Assumption of a mortgage should not be a taxable event since you state that you are already a partner / member of organization. You also can check with your CPA since he will know your tax status best.

You'll need to consult with a tax attorney or other tax professional, particularly about whether mileage is deductible. It will all obviously depend on your overall tax situation; with the raised standard deduction starting with this tax year, a lot of people who used to itemize may no longer... View More

You can avoid paying any tax, but you will be required to file a gift tax return, Form 709, along with your normal 1040 tax return you file annually. When you pay more than the 15K allotted for individuals to gift on an annual basis, you have to file the Form 709 to record the excess gift.... View More

The answer is 'probably yes'. Trusts are a 'one size fits all' solution to avoid probate that like all 'one size fits all' items rarely fit just right for any one situation.

You need to take the documents, including what the tax basis of the property was going... View More

You may be required to submit your 1099 form(s), tax return from previous year, correspondence, business invoice, or receipts, if applicable.

If you are paying employees under your limited liability company, you will have to pay withholding taxes unless - state and federal taxes. Yes you need to register with the state. Your accountant can assist you with your paperwork and tax filings.

If you co-signed the creditor/debt collector can collect from either of you or all of you. You all owe the entire debt - although if one pays it off entirely, the others no longer owe the debt.

If you try to settle the debt for less than the full balance, be sure to get it in writing that... View More

You need to complete the Property Transfer Affidavit and file with the appropriate assessing office where your property is located within 45 days of the transfer of ownership, and your basis seems to be $0. However if you are getting a loan to pay off his land contract, the it seems from your... View More

The easiest and less stressful way for you to get your tax documents would be to request them from your employers, etc. again. You can also request them from the IRS but usually they are not available until very close to or after the filing deadline so you would need to file and extension request... View More

I believe the answer could change based on the facts. For instance, many people use SSDI and SSI interchangeably when they are very different programs. If you receive SSI, you should be automatically eligible for the fee waiver. If you receive SSDI, that will probably count against you when... View More

The IRS cannot take your husband's money to pay your debt. They can ask for the household income to determine how much of your income is actually going towards the household bills. If you both make the same amount of money then the IRS will allow you to claim half of the household bills as... View More

You cannot deduct child support on your taxes (only alimony). The person receiving the child support does not pay taxes on the money received. If you are talking about taking the child as a dependent that depends on who provides over half the support for the child. Generally the person that... View More

IRS Publication 596 discusses the exemption for divorced parents. The rules are as follows:

Special rule for divorced or separated parents or parents who live apart.

A child will be treated as the qualifying child of his or her noncustodial parent (for purposes of claiming an... View More

So I have handled these matters before. You will need to provide documentation to support your statements. In a situation like this, a real estate attorney needs to review your documents and can then give you direction.

This is a question more for a tax accountant but if BOTH were business ventures (ie -- neither was a residential or recreational property but both were 'rental' real estate that you ran as a business, it is likely that the losses can offset the gains. If either or both were personal... View More

If the deed (not what is on the taxes, but what is on the deed as recorded in the register of deeds office) is in your mother in law's name alone and there is not a beneficiary or co-owner, then you have to go through probate. There is NOTHING stopping you from paying the taxes that are in... View More

I suggest you contact Michigan's Step Forward program to see if they can help. The link is here: https://www.stepforwardmichigan.org/en/

You should also contact the Michigan Treasurer's office to see if they can point you in the right direction. You still may have redemption... View More

If it is a gift, then you do not need to pay any taxes on it. If you currently have creditors or if you owe the IRS, you may need to be concerned about their ability to seize this money once it is in your account. But if you are just concerned about how to explain the appearance of $10,000 in your... View More

If the debt is owed by the LLC and not you personally, I assume that the LLC will not pay it. The creditor might assert a theory for your personal liability and seek to collect from you. I would need more information in order to assess the possible outcomes. If this is a tax bill as the category... View More