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Tax Law Questions & Answers
1 Answer | Asked in Tax Law for California on
Q: Say I gift $16k to my son. Can I also gift $16k to my sister, who gifts it to my son, tax-free in the same year?
James L. Arrasmith
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James L. Arrasmith PRO label
answered on Oct 4, 2022

You would use up part of your lifetime estate tax exemption, but the total amount is currently nearly $13,000,000, so unless you are very wealthy, you should not have to worry about it.

1 Answer | Asked in Tax Law and Gov & Administrative Law for Louisiana on
Q: Do i have to pay the 10 percent of what my vehicle is worth in the state of Louisiana when I get a new license plate.

And I'm 70 percent DV

Randy Bryan Ligh
Randy Bryan Ligh
answered on Oct 3, 2022

In answer to your question, no, however, if you have purchased a vehicle and seek to get it registered into your name, then generally you will have to pay tax on the purchase price of the vehicle which is approximately 10 percent (tax rate depends on which zip code you are residing and the tax rate... Read more »

1 Answer | Asked in Foreclosure, Tax Law and Contracts for Texas on
Q: Considering investing in tax foreclosures in Texas. The listings are each labeled with: EOS, EXE, Sale, resale, PLURIES.

From an auction bidder's perspective, do each of these types of real estate tax foreclosure types (for example EOS, EXE, Sale, resale, PLURIES) have the same redemption period?

I'm referring to the auctions from the Tax Code from Chapter 34. TAX SALES AND REDEMPTION, from the... Read more »

John Cucci Jr.
John Cucci Jr.
answered on Oct 2, 2022

If your question is looking for a "redemption" period after a f/c sale. There is none! Once it is sold at foreclosure, it is the property of the buyer, 100% in fee simple. While there may be some other legal issues of the property you buy at a f/c sale, it is a different legal process,... Read more »

1 Answer | Asked in Tax Law, Banking and Collections for California on
Q: Can California FTB levy my parents bank account if I'm added to the account?

My mother just died and my father wants to add me to his bank account incase something happens to him so I'll be able to pay the bills and have access to his money once he dies. I owe the Cal FTB 25K and they have levied my bank account earlier this year and took around 1200 from previous... Read more »

Joel Gary Selik
Joel Gary Selik
answered on Oct 1, 2022

Yes they can. And while you might be able to get it back, it’s not worth it.

Simply get a power of attorney form from the bank and have your dad add you as a POD beneficiary on the account.

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... Read 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 Tax Law and Business Law for Georgia on
Q: Video Editing for Clients in Another State | Tax Question

I currently have a Georgia LLC doing video editing and will be moving to Michigan in a couple of months. Since I will be doing the work in Michigan I assume I would register there, but do I have to register as a foreign entity in Georgia? Will I end up paying tax to both states? How does that work?... Read more »

Glenn M. Lyon
Glenn M. Lyon
answered on Sep 30, 2022

If you begin conducting business in Michigan and don't do do anything else with the company, you will need to register in Michigan as a foreign entity since it is a Georgia entity (regardless of where you reside). Assuming you will not be moving back to Georgia soon, it makes sense to just... Read more »

1 Answer | Asked in Real Estate Law and Tax Law for Oregon on
Q: In leaving my house to my step-daughter. Is it better to add her name to the property before I die, or will it to her?
Anthony M. Avery
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Anthony M. Avery
answered on Sep 29, 2022

Executing a Deed to her takes effect now, even if it is a vested Remainder taking possession at your death. Wills must be Probated for the Will to have any effect, which also attracts other relatives and creditors.

1 Answer | Asked in Tax Law and Real Estate Law for Louisiana on
Q: I have a property I would like to purchase but is having a hard time getting the tax sale purchase to sale

At the time of the auction the owner had died and her heirs wasn't aware of the sale but is willing to sale to me but can't because the tax sale has 100% but hasn't quiet the title.I have offered him cash and still won't sale he doesn't live in state and the property is now... Read more »

Randy Bryan Ligh
Randy Bryan Ligh
answered on Sep 27, 2022

If this property is in Louisiana and you are not in Louisiana and this property is going up for a tax sale, then I strongly recommend that you contact and hire a Louisiana real estate attorney practicing in the local jurisdiction where the tax sale is being held so that you can make sure that all... Read more »

1 Answer | Asked in Tax Law and Real Estate Law for California on
Q: Does a change of ownership happens when you have trust property taxes?
James R. Dickinson
James R. Dickinson
answered on Sep 20, 2022

Speak with an estate planning and tax lawyer about the tax consequences of placing property in trust. [I litigate cases. Anything posted here must not be construed as legal advice, nor as grounds for forming an attorney-client relationship. You should seek an attorney for formal legal advice and... Read more »

3 Answers | Asked in Business Formation, Business Law, Immigration Law and Tax Law for Texas on
Q: I am Ukrainian citizen living in the USA as a student and I want to open an online business how should I pay taxes.

I am Ukrainian citizen living in the USA as a student waiting for my F-1 visa and TPS and I want to open an online business.

I want to open drop shipping business I have an Ukrainian card and I have a card in PNC bank that I just opened, but because I am minor it was opened on my host mom... Read more »

Jaime Victor Papa
Jaime Victor Papa
answered on Sep 20, 2022

In my experience, business owners generally hire an accountant to help them navigate the taxes.

I really like Peters CPA, LLC https://www.lpeterscpa.net/ or (972)863-9640.

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1 Answer | Asked in Foreclosure, Real Estate Law and Tax Law for Michigan on
Q: i bought a lot from the county that had been seized for back taxes.

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.

Kenneth V Zichi
Kenneth V Zichi
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... Read more »

1 Answer | Asked in Tax Law and Probate for Florida on
Q: My brother sent me a check for over $50,000 his name was also on my mother's checking account for the last 2 years

Since his name was on it he said it doesn't have to go through probate so you wrote me a check for over $50,000. Should I cash this check or make him give me multiple checks so the banks don't tell the IRS even though it's inheritance. He wrote inheritance on the check but everything... Read more »

Phillip William Gunthert
Phillip William Gunthert
answered on Sep 19, 2022

I am sorry for your loss on the passing of your mother, please accept my condolences. Be glad that you go the check at all and that your brother did what your mom wanted (cash it or deposit it asap), legally your brother had zero obligation to give you even a penny of that money if his name was on... Read more »

2 Answers | Asked in Tax Law for California on
Q: What tax service should i use my first year with an LLC?
James L. Arrasmith
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James L. Arrasmith PRO label
answered on Sep 18, 2022

I would recommend a qualified tax professional if you want to have a lot of itemized deductions; else, TurboTax is a good option.

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1 Answer | Asked in Estate Planning, Probate, Tax Law and Banking for Illinois on
Q: Is there federal laws for a trust
Anthony M. Avery
PREMIUM
Anthony M. Avery
answered on Sep 14, 2022

Tax laws and ERISA Qualification laws come to mind. Banking Statutes also cover Trust Regulation. Securities Law may often be indirectly determinative. There are probably many others. Obviously Anti-Trust Statutes. State Laws control most disputes, but Trusts often involve several possible... Read more »

1 Answer | Asked in Estate Planning and Tax Law for Illinois on
Q: Is there state and federal laws for a trust/ estate. I have found the state laws but I can't find federal laws on it
Nina Whitehurst
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Nina Whitehurst
answered on Sep 14, 2022

Oh my, yes, there are a TON of federal statutes that impact trust planning, too many to list. You will find a great deal in the Internal Revenue Code and also Title 42. That is not necessarily a complete list, but it is where a great many exist, and it is a good start.

2 Answers | Asked in Real Estate Law and Tax Law for Maryland on
Q: I bought a property in a tax sale, there is no mortgage do I have to pay a transfer tax
Daniel Staeven
Daniel Staeven
answered on Sep 14, 2022

It is likely that you will have to pay transfer tax on the money paid to obtain the tax sale. A tax sale deed is obtained from the Director of Finance or some similar official at the county where you purchased the tax sale. You will need a title company to record the deed and pay the appropriate... Read more »

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1 Answer | Asked in Real Estate Law and Tax Law for Maryland on
Q: In the state of Maryland, if my neighbor is claims adverse possession on piece of my land. Who pays the taxes?
Richard Sternberg
Richard Sternberg
answered on Sep 13, 2022

You are completely confused about the concept of adverse possession, and your confusion is very likely to deprive you of your property. Get a lawyer!

Adverse possession is a defense. Think: Statute of Limitations. If you've let someone possess your property openly and adversely...
Read more »

3 Answers | Asked in Contracts, Real Estate Law, Tax Law and Small Claims for Texas on
Q: What to do if company won't honor warranty?

I purchased a home in 2021 that came with 10 year warranty for the foundation. Recently, interior of home started having foundation issues on one side of the home. Company came out to take a look but refuse to fix the issue because warranty apparently has been voided for two reasons. 1. Warranty... Read more »

John Cucci Jr.
John Cucci Jr.
answered on Sep 10, 2022

This is a classic move by a home builder company. Unfortunately, it is time to sue.

You need to visit with an experienced lawyer who handles real estate contracts and litigation.

Your rights are in the agreement you entered into with the seller and/or builder. The details will...
Read more »

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2 Answers | Asked in Real Estate Law, Divorce and Tax Law for Oklahoma on
Q: There is no mortgage on my home , can the court make my house go to sherrifs sale?

In a divorce we as ordered 7yrs ago for my house to be sold and property be sold , divi50/50 . Now court is trying to make my home go to sherrifs sale. Nothing is owed on my home

Charles Watts
Charles Watts
answered on Sep 10, 2022

Could be for property taxes. Those are yearly regardless of a mortgage or not.

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1 Answer | Asked in Family Law, Child Custody, Child Support and Tax Law for Colorado on
Q: How are taxes done after a divorce if I'm the custodial parent?

Does my husband have the right to claim the kids every other year on his taxes if I'm the custodial parent?

Sabra M. Janko
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Sabra M. Janko PRO label
answered on Sep 9, 2022

It depends on what your decree says. This is an aspect generally covered in a parenting plan. If not, Colorado statute says that the exemptions are taken in proportion to income so if you each make the same amount of income, then you would alternate every year.

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