Get free answers to your Tax Law legal questions from lawyers in your area.
Hi there,
im filing from New york
So basically the past year i worked off the books for ca heap wage off campus on a resturant, and so have no W-2 and thats why manually plugging the numbers
my important question is I was scammed a year ago of $3000 and thats why i had to... View More 
answered on May 4, 2020
According to the IRS, when a debt is canceled, forgiven or discharged, the canceled amount is part of your gross income and you must pay taxes on that income unless you qualify for an exclusion or exception. Creditors who forgive $600 or more of debt for you are required to file Form 1099-C with... View More
If an S Corp has been non-profitable, and officer had to work full time as employee with W-2 at same time for companies in Manhattan since they were on payroll, would they get UI?
Seems way things are worded on DOL, that if you are an officer of a corporation, you are still considered... View More
answered on May 2, 2020
Your S-corp won't stop you form being eligible under a different employer so long as you don't have income.
You also are not eligible for UI form an S-corp if you had not W2 wages. An S-corp distribution is not SE or IC income for UI or PPP purposes. You have to have paid... View More
Can I file his taxes or should I leave it alone? Is it legal for me to do it since he is married. He never gave consent for any specific individual to file taxes as we were in the process of doing so while he was diagnosed with cancer. Rapid divorce was not as rapid as his diagnosis unfortunately... View More
answered on Apr 20, 2020
Only his estate representative can file his taxes. The wife is due the first $50,000 of his estate unless he had a will, so unless the refund is more and there are other assets, there is no need to do it.
He is currently married to his wife in which her and I are in very bad term due to her infidelity. How can i go about this potentially without her?
answered on Apr 16, 2020
Whoever is the estate fiduciary can file the return. The refund, if any, goes to the estate. The first $50,000 of any estate (unless there is a will) goes to the spouse. Thus, you need to determine if there is anything in it for you, if an estate is worth commencing, and if a return should be... View More
I filed 2018 and 2019 taxes with my spouse and we currently make less than $150,000
answered on Apr 16, 2020
Not sure your question, but you should be eligible. For your husband, it depends on whether he remained in the US for over 183 days. Along with the SSN, he'll be considered a resident alien for tax purposes. If so, he'll be eligible as well.
I know that entities like LLCs, partnerships, and tax-exempt organizations aren't subject to the golden parachute payment rules.
However, if one was selling their LLC and was to give a member or independent contractor a percentage of the sale proceeds, would it just be taxed as... View More
answered on Apr 7, 2020
Consult with an accountant and attorney.
In general any payments or distributions are counted as regular income payments.
To avoid or defer taxes you may need to establish other mechanisms in place at your company.
May not be worth if the amount in discussion is not big enough.
According to the covid stimulus package, those who are in default of their student loans will not have their tax refund garnished. My question is: Does this apply to only 2019 tax refunds, or will it also apply to 2017 and 2018 refunds? I am entitled to refunds for the past three years and never... View More
answered on Mar 31, 2020
The stimulus does not involve tax year 2019--because 2019 tax returns are not even due until July 15, 2020. Moreover, If you have never filed tax returns for tax years 2018 or 2017 you will probably not receive any stimulus check.
I assume that I would have to pay short-term capital gains taxes based on the immediate market value, then if I immediately sold it, would I then pay capital gains taxes again based on the original owner's cost basis? Thank you in advance for your insights.
answered on Mar 25, 2020
If you received it for services rendered. The value of the Stock is ordinary income to you. And, the value is, therefore, your tax basis. If you sell it at a gain, the difference between your selling price and the value when you received it for services rendered is your capital gain; short term or... View More
When a mortgage and note (one document, titled NOTE AND MORTGAGE) is sold, the creditor/lender/noteholder/mortgagee changes, but the debtor/borrower/mortgagor stays the same.
If the debtor/borrower/mortgagor then sells the mortgaged property (the deed to his house), subject to the... View More
answered on Mar 19, 2020
When a lender assigns a note and mortgage, the debt remains with the borrower even if the property is sold subject to the mortgage.
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Feb 28, 2020
Real estate is transferred using a document of conveyance called a deed. However, there are a variety of types of deeds, and the choice is not always obvious. I do not ever recommend using quitclaim deeds because of issues with insurability. That leaves possibly a warranty deed or a special... View More
answered on Feb 27, 2020
Your kids pay no estate tax. Your exemption will more than cover $850,000.
the apartments myself. I also rent out the apartments and collect rent from tenants like a property manager does. How do I go about doing my taxes?
answered on Jan 27, 2020
Unless you have a tax preparation background you should hire someone to prepare your taxes. That way you will not have to worry about making a mistake, getting audited, and paying someone like me a lot more then you would have paid an accountant. Find a good accountant, with experience in this... View More
I started out on Social Security Disability because I am hearing disabled. 15 years ago.
answered on Jan 20, 2020
Yes. Once a tax warrant has been filed the state can, and will, seize non-exempt property and auction it to pay your tax debt.
If you call them and setup a payment plan they'll pause collections activity.
You'll also want to check to see if you're driver's... View More
Operated a auto repair shop in NY in 1999. Had CPA do my taxes and paid what he said that I owed for sales tax tax for year 1999 which was around $500. Later got notice that I owed more than I had paid so I contacted CPA and he said he would take care of the issue. Had unfortunate events occur in... View More
answered on Jan 17, 2020
You are going to need a New York attorney. The fact that you may now be in Florida is immaterial. So ask in Justia > Ask a Lawyer > New York > Tax Law.
In my divorce decree, my ex-spouse agreed that I could take the full mortgage interest and real estate tax deduction on our property jointly owned until our son is financial independent. The IRS is now saying that I am only allowed to take 50% of the deduction because we both own it. The property... View More
answered on Jan 16, 2020
Your decree cannot over rule IRS rules. You should sit down with your tax advisor or a tax attorney to go over your decree, agreement and the IRS ruling.
An attorney but need help. Is there a pro bono person that can help me? I live in MYC
answered on Dec 19, 2019
You can see if one of the low income taxpayer clinics in your area can help. Here is a link to the page where you can search for one near you.
https://taxpayeradvocate.irs.gov/about/litc
Hi, I wanted to get information about the possibility of transferring money I have in Brazil in my account there to my US account, about $225,000. Do I need to pay tax on that when I transfer, or in the end of the year? Do I need to declare it in my tax return? I am a temporary resident in the US... View More
answered on Dec 3, 2019
Any transfer over $10,000 US is reported by the bank but is not taxed.
You don't report it on your personal income return as long as it's a personal transfer.
If it's a gift or earned income it changes things.
answered on Dec 3, 2019
The State of New York has a three year statute of limitations to asses additional income tax, but that is not reliant on the federal statute of limitations.
Signed away all rights to house in divorce, but spouse hasn’t and won’t refinance to take my name off mortgage. She plans on selling and I will get no money in the sale, would I get hit with a capital gains tax?
answered on Nov 18, 2019
Not if all proceeds are reflected as going to her on the 1099.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
