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Nevada Tax Law Questions & Answers
1 Answer | Asked in Employment Law, Immigration Law, Personal Injury and Tax Law for Nevada on
Q: Where can I post situation to find a GOOD lawyer in FL? TY

ISO Lawyer for Florida/Hilton case. 14rs. emp- worked in Orlando which had us selling in St. Maarten. Based exclusively in Orlando! Had 3 specialty lawyers- not a JURIDICTION ISSUE at all. Cases-FL DOC-won, FCHR & EEOC-ongoing- back end, Tons of evidence. Brought us over illegally... View More

James L. Arrasmith
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answered on Jun 3, 2024

To find a good lawyer for your case in Florida, consider posting your situation on reputable legal forums and websites. Websites like Avvo, Justia, and Lawyers.com have directories where you can search for lawyers based on their expertise and location. You can also post your detailed case on these... View More

1 Answer | Asked in Tax Law for Nevada on
Q: Why would one heir get a tax bill from IRS and other heir didn't
James L. Arrasmith
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answered on Apr 17, 2024

There could be several reasons why one heir receives a tax bill from the IRS while another does not. Some possible explanations include:

1. Differences in inheritance: If one heir inherited a larger share of the estate or assets that generate more taxable income (such as an IRA or 401(k)...
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1 Answer | Asked in Tax Law for Nevada on
Q: I received unclaimed property from the State of California related to my fathers estate.

The amount was approx 45K which I split with my sister 50/50. I never received a 1099 from CA regarding this payout. I am trying to determine how to handle for tax purposes. It was in a traditional IRA and my guess is that the estate should have claimed it but that was 8 years ago. Should the... View More

James L. Arrasmith
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answered on Mar 11, 2024

As the executor of your father's estate and the trustee of the trust, it is your responsibility to ensure that the unclaimed property from the IRA is properly reported and taxed. Here's what you should consider:

1. Inherited IRA distributions are taxable: Generally, funds received...
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2 Answers | Asked in Family Law, Child Custody and Tax Law for Nevada on
Q: Who gets to claim the child on their taxes? We were never married and the child primary lives with me.

My daughter primary lives with me and spends the night at her dads house once or twice a week if he is in town( He's a Flight attendant).

James L. Arrasmith
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answered on Feb 22, 2024

In the United States, the parent who has primary physical custody of the child for the majority of the year typically has the right to claim the child as a dependent for tax purposes. Since your daughter primarily lives with you and spends only one or two nights a week with her father, it's... View More

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2 Answers | Asked in Family Law, Child Custody and Tax Law for Nevada on
Q: Who gets to claim the child on their taxes? We were never married and the child primary lives with me.

My daughter primary lives with me and spends the night at her dads house once or twice a week if he is in town( He's a Flight attendant).

T. Augustus Claus
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answered on Jan 24, 2024

In Nevada, the determination of who gets to claim a child on taxes can be influenced by legal agreements, court orders, and IRS rules. If there is a court order or legal agreement specifying the terms for claiming the child as a dependent, those terms should be followed. According to IRS rules, the... View More

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1 Answer | Asked in Tax Law, Business Formation and Business Law for Nevada on
Q: How can I receive shares of a small llc that I've earned and avoid the tax burden? Nevada

I've vested my percentage by coming in and running the business for the last 6 years but cannot afford to pay the taxes.

James L. Arrasmith
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answered on Jan 22, 2024

Receiving shares in an LLC as compensation for services rendered can indeed create a tax burden, as the IRS often views this as taxable income. In Nevada, while there is no state income tax, federal taxes still apply. One way to manage this tax burden is to receive the shares gradually over several... View More

1 Answer | Asked in Tax Law for Nevada on
Q: If I loan a friend $$$ and 10 years later they finally repaid it, is that taxable to me? (the debt was never forgiven)

I loaned a friend $7,500 10 years ago and now they finally repaid it. The loan was never cancelled or forgiven by me. Now that he finally repaid me, do I have to pay taxes on the repayment of the loan money received?

James L. Arrasmith
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answered on Jan 22, 2024

Receiving repayment of a loan you made is generally not considered taxable income. The money you lent was already your own, so when it's repaid, you're merely getting back what was originally yours. This principle holds regardless of the time taken for the repayment.

However,...
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2 Answers | Asked in Estate Planning, Tax Law and Probate for Nevada on
Q: My father died. his bank account which on all of them only assets. I’m only child. Mother dead. what to do?

He has 96k in a VA FIUCIARY account which in the fiduciary. He has 99k in an account which I am on, and 37k in a savings which I’m on. No spouse or other kids. I live in Henderson Nevada

James L. Arrasmith
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answered on Jan 12, 2024

I'm sorry to hear about your father's passing. Dealing with financial matters after a loss can be challenging, but there are clear steps to follow in this situation. Since you are the only child and your mother has also passed away, you are likely the primary heir to your father's... View More

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2 Answers | Asked in Estate Planning, Tax Law and Probate for Nevada on
Q: My father died. his bank account which on all of them only assets. I’m only child. Mother dead. what to do?

He has 96k in a VA FIUCIARY account which in the fiduciary. He has 99k in an account which I am on, and 37k in a savings which I’m on. No spouse or other kids. I live in Henderson Nevada

Jonathan Craig Reed
Jonathan Craig Reed
answered on Jan 12, 2024

You don't say what state your father was a resident of. The state he was a resident of when he died determines which state law controls the distribution of his assets that are NOT real estate. The details of probate law vary from state to state. If I understand your questions correctly, there... View More

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1 Answer | Asked in Bankruptcy, Tax Law, Business Formation and Business Law for Nevada on
Q: What would happen if I'm unable to comply with this plan and the account proceeds into collections or personal guaranty

My Amazon account was closed recently, resulting in an outstanding balance owed to Payability (which a service that offers prepayment option for Amazon sellers on the shipped orders) due to premature payment. They proposed a payment plan of $1,000 a week to settle the remaining $19,320.89.... View More

James L. Arrasmith
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answered on Jan 12, 2024

If you are unable to comply with the proposed payment plan and your account proceeds into collections or personal guaranty enforcement, there are several potential consequences. The creditor, in this case, Payability, may initiate collection efforts. This can include contacting you for payment,... View More

1 Answer | Asked in Tax Law for Nevada on
Q: I need a certificate of revival for my corporation in California, could you do this for me ?
James L. Arrasmith
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answered on Jan 3, 2024

To obtain a certificate of revival for your corporation in California, you will need to follow specific steps as set by the California Secretary of State. This process typically involves reinstating a corporation that has been suspended or forfeited.

First, you should determine the reason...
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1 Answer | Asked in Tax Law, Internet Law and Health Care Law for Nevada on
Q: Can you advise on what the tax implications might be when providing telehealth across state lines?

I'm a psychologist, in private practice, licensed in CA and Nevada, practice is in NV, want to provide telehealth in CA. Would income earned from a CA resident or a CA company (insurance) result in my paying taxes? If yes, would CA tax me on my entire NV earnings since CA des not have state... View More

James L. Arrasmith
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answered on Dec 25, 2023

When providing telehealth services across state lines, like from Nevada to California, you may face unique tax implications. If you earn income from California residents or companies, California may require you to pay taxes on that income. This is because states generally tax income earned within... View More

1 Answer | Asked in Tax Law, Divorce and Family Law for Nevada on
Q: Can I claim our son on my taxes, who in our decree is supposed to be claimed by my ex husband?

My ex husband and I have been divorced a few years. We share 4 children. In our decree we each claim 2 of our children on our taxes. I have primary custody and he has visitations. This year our oldest son has stopped his visitations with my ex husband. He has solely lived with me since the first... View More

Bonnie M Lonardo
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Bonnie M Lonardo
answered on Sep 30, 2022

Generally speaking the parent who has primary custody claims the children on taxes UNLESS it has either been agreed or Ordered otherwise in the Decree.

If your Decree states that the father is to claim 2 of the kids then its best to follow the Decree to avoid being in contempt.

If...
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1 Answer | Asked in Copyright, Tax Law, Traffic Tickets and Collections for Nevada on
Q: what can i do about an collection of a insurance claim
Joel Gary Selik
Joel Gary Selik
answered on Mar 27, 2022

If you could provide more details, that would assist in getting the best answer.

1 Answer | Asked in Criminal Law, Tax Law and Federal Crimes for Nevada on
Q: IRS account transcripts issues

I was hoping I could ask you a question.

When I login to get my account transcripts. For some reason as of last Friday I was able to see 2014 and 2015 and download them. However as of yesterday Saturday I can see all of them except for 2014 and 2015 it says N/A for those years.

Is... View More

Linda Simmons Campbell
Linda Simmons Campbell
answered on Jan 12, 2022

Transcripts only stay available online for a certain period of time. If you did not owe any taxes for a particular year it is not unusual for them to be removed. January is the time of year that the IRS updates its systems so that may be why they disappeared. There is no guarantee that this is... View More

2 Answers | Asked in Employment Law and Tax Law for Nevada on
Q: Can an employer make a paycheck payable to a w-2 employee’s family member instead of the employee?

Employee does not want to endorse back of check to have family member deposit/cash for them. They want their paycheck made payable directly to their relative who does not work for the company. Employee is not an independent contractor.

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on May 9, 2020

No. Unless the family member is the employee the employer cannot violate federal and state law.

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3 Answers | Asked in Tax Law for Nevada on
Q: I haven't paid taxes in a while and looking to clear everything up. How do you do that?
D. Mathew Blackburn
D. Mathew Blackburn
answered on Mar 31, 2020

Find any tax documents you have in your possession.

Order Wage & Income and account transcripts from the IRS.

Draft and file the missing returns. Ask for forgiveness on any penalties.

Setup a payment plan for the amounts owed, if any.

May want to hire a...
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1 Answer | Asked in Tax Law for Nevada on
Q: my parents claim my son on taxes for the one month he stayed at their house but my son has lived with me his whole life

And I have state assistance for my son. What can I do? My parents falsified their tax return by claiming my son. PLEASE help me

Linda Simmons Campbell
Linda Simmons Campbell
answered on Feb 5, 2020

You can file your return and claim him. The IRS will then ask you both to prove where the child lived for most of the year. They will look at things like school records, etc. that will show where the child lived during the year.

3 Answers | Asked in Business Law and Tax Law for Nevada on
Q: Hi, Im going to form an LLC but have some questions about starting up without a lot of capital and taxation questions.

So I am the owner of a music group and naturally we don't have a large amount of capital to start a huge company but I was wondering how it works with taxes once you form an LLC and pay for things for your company with personal money before a lot of profit starts coming in is it tax... View More

Patricia Warnock
Patricia Warnock
answered on Jul 27, 2019

Speaking with a tax planner is your best bet. He/She can help you decide what entity type is best for you and how to structure your entity to work in your best taxable interests. Business licenses vary from state to state and even county to county or town to town. You should speak with an... View More

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2 Answers | Asked in Tax Law for Nevada on
Q: How do I fix a dependent I claimed on my taxes who made too much money, and how much is the fine?

Girlfriend and I filed 2017 taxes together. I clai.ed her as a dependent t and later found d out she made almost 100 over the limit to file on her own. I have moved and never recieved aletter. How much is the fine e and how do I fix this.

D. Mathew Blackburn
D. Mathew Blackburn
answered on May 14, 2019

To fix it file a 1040X.

Penalty would be 0.5% of the amount owed as a result of the correction plus interest of 3-5% per month.

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