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Florida Tax Law Questions & Answers
2 Answers | Asked in Real Estate Law and Tax Law for Florida on
Q: Instead of buying a property with a closing can I just transfer the ownership of the LLC which owns the property?

The property is located in Florida, currently owned by a Florida LLC with one member. The property has no mortgage or liens. I would be 'owner financing' it with the current owner to avoid closing costs and a taxable value increase.

Terrence H Thorgaard
Terrence H Thorgaard
answered on Apr 25, 2022

The purpose of a closing is to protect you and the seller of the property. If you believe the "property has no mortgage or liens", you must have had a title search done, and presumably want title insurance to protect you in case whoever did the title search missed something. Also, the... Read more »

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1 Answer | Asked in Divorce and Tax Law for Florida on
Q: Divorced 2020, quitclaimed. On mortgage until 2021. Received 1098 form. Can I still file this for taxes?

Divorced in 2020, quitclaimed house to wife. Moved out of home and into apartment. I make no mortgage payments per our marital agreement. She re-financed the home in her name in November 2021. I still received a 1098 form from original lender. Can I still file this for my taxes?

Rand Scott Lieber
Rand Scott Lieber
answered on Apr 12, 2022

First you need to read your marital settlement agreement carefully regarding this issue. However, if the agreement is silent and you did not make the mortgage payments then you should not be claiming the interest paid. Speak with a local family lawyer for more specific advice.

1 Answer | Asked in Real Estate Law and Tax Law for Florida on
Q: Hi, I'm about to sell my home in Florida. I have a question about the capital gains tax exemption.

My understanding is that you have to have been living in the house for at least two years to qualify for this exemption. My question is, the two years have to be from the closing date (when I bought the home) to the selling closing date? Or from the buying closing date to when I started the process... Read more »

Jane Kim
Jane Kim
answered on Mar 29, 2022

This is a question for your accountant.

1 Answer | Asked in Real Estate Law and Tax Law for Florida on
Q: What constitutes "purchase price" or "amount realized" when dealing with FIRPTA real estate transactions?

I am considering buying a house from a foreign seller with a 300k purchase price. The issue is the seller wants the buyer to cover realtor commissions, title insurance and prorated tax which amount to 18k (costs normally covered by seller). The sellers goal is to net 300k. I am concerned with being... Read more »

Jane Kim
Jane Kim
answered on Mar 24, 2022

You should repost this under Tax law, or contact your accountant.

Thank you.

1 Answer | Asked in Tax Law for Florida on
Q: Is a legal resident of Florida who pays property tax in NY required to pay NY school tax which is paid separetly?
Terrence H Thorgaard
Terrence H Thorgaard
answered on Mar 14, 2022

It would depend on what the New York law on school taxes provides, but probably. You should ask this question in Justia > Ask a Lawyer > New York, to get a more reliable answer.

2 Answers | Asked in Estate Planning and Tax Law for Florida on
Q: Can a beneficiary request that their inheritance be transferred to an account which is not in their name?

The account was opened by their girlfriend.

Phillip William Gunthert
Phillip William Gunthert
answered on Mar 12, 2022

Maybe, not preferred and probably not likely. You would need to minimally provide some sort of a notarized document stating clearly in writing with your signature and witnesses notarized that this is what you want the estate representative to do, even then, it is likely that they will not be... Read more »

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1 Answer | Asked in Tax Law for Florida on
Q: Do I have to pay taxes on a gift from china?

My wife is chinese (no green card yet but in the process) her parents will help us buy a house by sending 300k. China? They send it to my account ? Will I have to pay taxes on the money or should they send to her ?

Terrence H Thorgaard
Terrence H Thorgaard
answered on Mar 6, 2022

Quite probably. Ask a tax preparation professional about the federal gift tax. It probably doesn't make any difference, tax-wise, whether they give it to you or your wife.

2 Answers | Asked in Employment Law and Tax Law for Florida on
Q: Hi, I'm working for the restaurant since Nov 17th. I've got paid by checks, and my employer refused to give me W-2.

I signed W-4 on Dec 8th 2021. The employer said that she didn't take tax from my income, so she can't give me W-2. I told her i can send her tax to her and she still said she can't give me w-2. What can I do to get my W-2?? I need to file tax for last year to prove that I legally worked.

Terrence H Thorgaard
Terrence H Thorgaard
answered on Feb 16, 2022

Ask your tax preparer, but your tax return can report employment income even if you don't have a W-2. Failure to withhold employment taxes or to send you a W-2 (or 1099) is your employer's fault, not yours.

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1 Answer | Asked in Tax Law for Florida on
Q: tax related question

we’re starting a company we’re gonna have about five trucks are going to need to gas every day we’re going to sign up for a special fuel card that makes us enter the mileage and the truck number I need to fuel. Do we need to have individual receipts when we file our taxes or do we need to... Read more »

Terrence H Thorgaard
Terrence H Thorgaard
answered on Feb 11, 2022

If by using your fuel card the data is saved someplace you can access (a monthly statement, or a web site, for example) you probably don't need to keep your receipts. But just in case, ask whoever prepares your taxes.

2 Answers | Asked in Business Formation, Business Law, Contracts and Tax Law for Florida on
Q: Is there anyone that can help me with my business from the ground up?
Phillip William Gunthert
Phillip William Gunthert
answered on Feb 8, 2022

Yes, a Florida Business Attorney, you will want to speak with a Business Attorney, and they will be able to help you create your LLC, applicable Operating Agreement, register your business with the state, explain liability issues and keeping the business separate from yourself, filing for a more... Read more »

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2 Answers | Asked in Bankruptcy, Divorce, Real Estate Law and Tax Law for Florida on
Q: Can a house be sold at auction while it's currently in bankruptcy?

I'm currently going through a divorce and my husband never paid the taxes and put the house in his brother's name. I'm living in the house and paying the delinquent taxes of but taxes are due again and I can't pay them.

Timothy Denison
Timothy Denison
answered on Feb 5, 2022

Not unless the court has given permission for the sale.

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2 Answers | Asked in Tax Law for Florida on
Q: I sold a second home with a net profit of $187,000. I don’t pay income taxes because my income is tax free. Do I have

To pay capital gains taxes?

Michael  Mayoral
PREMIUM
Michael Mayoral
answered on Jan 11, 2022

I would guess that you do, but the person you want to consult with on this is an accountant/CPA.

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1 Answer | Asked in Real Estate Law and Tax Law for Florida on
Q: Adding someone to the Deed or creating a Cohabitation Agreement?

I own a home, and my fiance lives with me and has put a substantial amount into the home. To protect her investment, we were looking into adding her to the title/deed. I am concerned about a few things I have read regarding this:

1. There is a mortgage on the home with an escrow account. Is... Read more »

Jane Kim
Jane Kim
answered on Jan 6, 2022

These are all good questions.

Quitclaim deed will not trigger loss of homestead exemption as to you. If your fiancé lives with you, she'll need to complete a separate homestead application. You will only pay tax to the county on the amount indicated in the quitclaim deed, so it is...
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1 Answer | Asked in Appeals / Appellate Law, Employment Law and Tax Law for Florida on
Q: Florida Unemployment Overpayment payback demand for continued PUA -i appealed and no response!

It says 'insufficent evidence' for self employment for the continued payments starting Dec 27 2020. It was good enough for 2020 but then not anymore. I thought i uploaded schedule C from 2019 but apperently the DEO did not get it and so they claim i got to pay back 18x125 (not including... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Jan 6, 2022

You CANNOT handle this giant problem by yourself. Hire an experienced unemployment comp lawyer immediately, and pay them to appeal for you.

1 Answer | Asked in Divorce, Real Estate Law and Tax Law for Florida on
Q: Do I still have to pay taxes on the sale of a house that my name wasn't on just because we were married at time of sale?

We sold the house we were living in and were married at the time of the sale. My name was never on any paperwork for the house. We are now going through a divorce and he is trying to say that I still have to pay half the taxes on the house because we were married at the time of the sale.

Terrence H Thorgaard
Terrence H Thorgaard
answered on Nov 23, 2021

Are you asking about federal income tax "on the sale of a house" ( I.e.: capital gains)? Probably.

1 Answer | Asked in Tax Law for Florida on
Q: Should I pay a sales tax on Silver dollars purchased online (Maryland Auction Site) and shipped to Florida?

Florida Sales Tax Rules

12A-1.0371 Sales of Coins, Currency, or Bullion

(1)(a) The sale, use, consumption, or storage for use in this state of any coin or currency, whether in circulation or not, is subject to tax unless:

1. The coin or currency is legal tender of the United... Read more »

Terrence H Thorgaard
Terrence H Thorgaard
answered on Nov 22, 2021

In your case, it would be a "use tax" as opposed to "sales tax"; both of which are taxable according to the regulatory language from which you quote. That language seems to be consistent with Florida Statute 212.05, ("storage, use tax"), the text of which is found... Read more »

1 Answer | Asked in Tax Law for Florida on
Q: Divorce, Quitclaim deed, Doc Stamp taxes?

Filing a quitclaim deed and transfer of mortgage due to divorce and having difficulty determining the Documentary stamp tax.

Terrence H Thorgaard
Terrence H Thorgaard
answered on Nov 20, 2021

The mortgage belongs to the bank (or whoever loaned you the money to buy the house). So you can't "transfer" the mortgage to your ex-spouse. You can't "transfer" the obligation to pay the mortgage debt; you will still be obligated. What needs to be done is a... Read more »

1 Answer | Asked in Estate Planning and Tax Law for Florida on
Q: Mother put house in trust. She died. Do taxes stay the same in trust and in her name or can city tax reg rates? Rule?

The county wants to charge regular rates with no exemptions the year after she died. The house is still in her name. Is there a law that states when the rates change. The house is still in her name and in the trust just as if she were alive. What rules apply here for Volusia County, New Smyrna... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Nov 15, 2021

Florida's Homestead Tax Deduction only applies to people, not Trusts.

Most if not all countys send notices reminding citizens to register for the deduction on or before March 1 of each year.

If the property had the deduction the year before it will continue--unless changed...
Read more »

1 Answer | Asked in Tax Law for Florida on
Q: Business Tax ID question

I formed a business consulting company in my name earlier this year. My husband is under contract to purchase a rental property in the city of Inverness Florida Soli in his name. Can he utilize my business tax ID number to rent out that property? The city of Inverness requires a business tax ID in... Read more »

Michael  Mayoral
PREMIUM
Michael Mayoral
answered on Nov 4, 2021

It sounds like your husband can create an LLC or other corporate entity, receive a business ID tax number (EIN) from the IRS for the LLC/Corp, and have the seller execute a consent to the assignment of the real estate contract to your husband's new LLC/Corp. That way, your husband remains in... Read more »

1 Answer | Asked in Tax Law for Florida on
Q: Married filing jointly, husband owes money to IRS (FL)

I'm in FL. Been filing married filing jointly for 6 years, but was never aware of anything as my husband was doing everything and also signing for me (I knew about it, I trusted him). Now he told me he owes a lot of money to the IRS. I've never had anything to do with his business and I... Read more »

Leihernst Lamarre
Leihernst Lamarre
answered on Oct 26, 2021

Suppose your husband incurred the debt before you guys married, then the debt is in his name alone. However, if the tax debt occurred during the marriage and you file Married Filing Joint, you are also responsible for the tax debt. The best way to protect yourself from having any refunds or credits... Read more »

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