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

Understand YOU are not responsible for the back taxes. You ARE responsible to the landlord for rent, but there MAY be options you can take.

I would strongly urge you to consult with a landlord/tenant lawyer and consider the possibility of setting up an escrow account for future rent while... View More

If you are looking to claim the Michigan 'home heating credit' or real estate tax "surrogate" credit for rental property, you have to LIVE in the home AND pay rent/mortgage/taxes in order to claim it. You may be able to claim TAXES on a second home if you itemize deductions, but... View More

A CPA will help you get the returns, certainly, but many lack the training or background to be able to help you with the resulting tax debt. What you need is either a Tax Attorney or Enrolled Agent to guide you through that process - they can prepare returns as well. Fortunately, it's a... View More

If he is willing that his name remains on the mortgage while he signs a quit claim deed to you and he relinquished all rights on the house in the final judgement of divorce, then if you continent making the payments there is little chance that the mortgage company would find out. If the mortgage... View More

Generally, the IRS only allows a 3-year period from the return due date to file a claim for refund. This also applies to a refund that would be produced from an amended return. Normally, you need to file an amended return within 3 years from the date that the original return was filed. However, if... View More

For IRS tax purposes, I would encourage you to fill out IRS Form 14039 Identity Theft Affidavit. See Taxpayer Guide to Identity Theft http://www.irs.gov/uac/Taxpayer-Guide-to-Identity-Theft. The IRS also request that you do the following:

1) Report incidents of identity theft to the Federal... View More