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Your current state is Ohio
Income - a gain or recurrent benefit usually measured in money that derives from capital or labor. Capital - net worth : excess of assets over liabilities. Labor - the services performed by workers for wages as distinguished from those rendered by entrepreneurs for profits. I am being taxed on the... View More 
answered on Nov 18, 2024
Your concerns raise more of a political question than a legal one. And I think you are misunderstanding the relationship between the 16th Amendment and Article I.
Similar arguments and concerns have been litigated since the 16th Amendment was ratified in 1913. Congress's ability to... View More
answered on Nov 8, 2024
You should contact an experienced Kentucky employment attorney immediately. Kentucky law states that any employee who leaves or is discharged from his employment shall be paid in full all wages or salary earned by him no later than the next normal pay period following the date of dismissal or... View More
answered on Nov 11, 2024
The only likely scenario where you can continue paying the existing mortgage on your deceased father's home without replacing (refinancing) it, is if you are your father's heir and are receiving the house as part of his estate distribution. In that scenario, the law allows an heir in the... View More
Hello I am visiting Florida and my job wants to change my tax code to Florida from colorado. I am currently a resident of Colorado. Is this legal?
answered on Nov 5, 2024
If you're visiting then no you are still domiciled in Colorado and you're not performing services in Florida so there would be no Florida source income.
If by visiting you mean working in the company's Florida office then yes. You would have Florida source income and the... View More
Living trust has stocks worth 1.5 million. The financial institution wants to divide all stocks and move into beneficiaries account. When beneficiaries sell stock do they pay capital gains from stocks original purpose or from date received forward? Or is it better to sell all stocks and distribute... View More
answered on Nov 4, 2024
The legal term “Trustee” is the title of the person with the right to handle assets in the trust and who must fulfill all the legal duties associated with that right. The word “Co-Trustee” means there are two people serving together as Trustees. They may have to do everything together or... View More
My mother passed away in 2019. My grandmother had life insurance policy on her and agreed to pay the next three years of property taxes in Madison county Illinois. Well apparently she didn't, and I was served a certified letter about losing my home and property... Can I ask for an extension?... View More
answered on Oct 13, 2024
There is a redemption period for unpaid real estate taxes. Below is from the county clerk website from Madison County:
Contact us
Madison County Clerk
P.O. Box 218
Edwardsville, IL 62025
Call: 618 692-6290
Fax: 618-692 8903
Hours: 8:30 a.m. -... View More
I want to give this lot to my son-in-law so he can construct a storage building. He does not wish to build on my land, as family dynamics could change.
answered on Oct 21, 2024
There are certainly formalities with an real property transaction. Once you sell the property to your son-in-law or anyone else you obligation is over. There may be complications if daughter divorces him someday, but that would be between them from a legal standpoint. You may to consult with an... View More
The taxes are delinquent from the youngest child living there for 13 yrs. I am the only one who has interest in the property. The current residence doesn't want to relocate until the time of auction. Please help to keep my father's home
answered on Sep 30, 2024
If you would like to keep the property, you will need to make arrangements to buy out your two other siblings interest in the property. Once you have done that, you can force the sibling living there to leave. You will then solely be responsible for the payment of taxes, maintenance, upkeep, etc.... View More
Im drawing up a life estate deed and want to name biological son, step-son and there mother whom I was never married to. I want my son and his mom to live in the home’ for life’. My step-son owns his own home but don’t want to leave him out..Will that be an investment property to my step-son... View More
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answered on Sep 25, 2024
Your intentions are unclear. Do you want to grant a life estate to your son and his mother for their joint lives, remainder to you? (So you move out while they are alive and then move back in when they die.) Or do you want to convey the property to them, reserving a life estate to yourself? (You... View More
Mother passed away June 2024. Father passed 10 years earlier. 4 children set to inherit and are having home appraised.
answered on Sep 20, 2024
For a person that died prior to January 1, 2018, the value of the deceased's participation in any real estate property reported in the estate tax return filed for that person is valued at fair market value, typically submitted along with an appraisal of the real estate's value at the time... View More
My wife and I were 25% each and my sister 50% owner's and officer's. Couldn't afford business BK, filed personal CH 7. CDTFA is liening my home for the debt.
answered on Sep 19, 2024
A person may be held personally liable for a business’ unpaid sales tax if the elements of California Revenue & Taxation Code (RTC) § 6829 and Regulation § 1702 are met. Section 6829 requires that the person subject to dual responsibility for the taxes is both a “responsible person” and... View More
My wife and I were 25% each and my sister 50% owner's and officer's. Couldn't afford business BK, filed personal CH 7. CDTFA is liening my home for the debt.
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answered on Sep 19, 2024
You can be held liable for the tax debt, and it appears that the CDTFA may have already made a dual determination if they placed a lien on your house.
A dual determination holds a person liable for a tax obligation shared with another, here, the corporation.
Under Revenue and... View More
She has a bottomless pocket out to financially harm me, bribing attorneys I get and cannot prove. He got her my tax attorney info subpoening my bank records so she could get them to mess with my taxes and I caught it. Federal taxes, do I need a CA attorney? I have a CPA CFF CFE, needs to work... View More
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answered on Oct 3, 2024
Indeed, should your wife's attorney be engaged in federal tax fraud, this might constitute a federal offense. Tax fraud is a major offense whether encouraged or facilitated, especially when involving bank records and subpoenas. Keeping in mind that every situation is unique, here are some... View More
answered on Sep 16, 2024
No. Only property EXCLUSIVELY used for the burial of human remains is exempt from property tax. You can replat your land to plat off a small family cemetery, and that family cemetery will be exempt from property tax. But not the rest of your land.
can we invoke "ex post facto" doctrine in this case
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answered on Sep 6, 2024
My understanding of the Bill you mentioned, is an additional part of the Tax Exemption law in Texas. The Bill allows the Tax Appraiser in each county to verify the property owner's exemption status every 5 years. That verification may be done in portions, and broken up into multiple years of... View More
The daughter says that the IRS will not let her do anything with the house (sell, rent, fix up, etc). She says the IRS told her that she's allowed to stay there a few times during the week, but if a family member or friend wants to stay the night or a wknd, she would have to be present the... View More
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answered on Sep 1, 2024
The Federal Tax Lien is a legal tool the IRS uses to help secure and enable tax collection. Liens and other "security instruments" direct third parties to first use any proceeds (cash) from transactions to satisfy (pay-off) the associated debt.
However, not all lens are... View More
A parent has a trust with 2 beneficiaries. We would like to move a house into a separate trust with only one beneficiary. So the house is being given to one child but the other should get half of the 2024 value somehow
Not sure the best way to do this so the other child gets half the 2024... View More
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answered on Aug 30, 2024
Giving the house to one beneficiary now could have many unintended negative consequences such as loss of step up in basis at the death of the gift giver and a hefty Medicaid penalty period assessed against the gift giver on account of the lifetime uncompensated transfer.
This is not the... View More
The land is taxed way above actual value . It was on the market for years. Before the owners died , So it is basically unsaleable. I would like to forfeit the land in exchange for the debt located Mechanicsville Maryland.
answered on Aug 28, 2024
While there is no legal process to "forfeit land" practically speaking if the owner defaults on the annual property taxes it would go into tax sale, and if someone else purchased the property at tax sale it would have the same practical effect as forfeiting. However, a Personal... View More
The land is taxed way above actual value . It was on the market for years. Before the owners died , So it is basically unsaleable. I would like to forfeit the land in exchange for the debt located Mechanicsville Maryland.
answered on Aug 28, 2024
As the trustee of this estate, your primary responsibility is to act in the best interests of the beneficiaries. While forfeiting land for debt might seem like a direct solution, it's generally not a feasible option. Forfeiture typically occurs due to illegal activity, not as a means of debt... View More
Sister passed away a few years ago in Indiana. She had no spouse or children and left no will, but did list a sibling as an insurance beneficiary.
answered on Aug 27, 2024
When a person dies, their assets must go through a legal process called probate. This process involves identifying the deceased's assets, paying off debts, and distributing the remaining assets according to the terms of their will. If your sister had a will, then the home goes to the named... View More
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