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If I work for a texas company and my residence is still texas. But I work remotely, if I take my laptop and go work, let's say, in South Carolina for 2 weeks. Does that mess up taxes for the company? They are telling me that it does. But that doesnt make sense to me. I'm not moving.... View More 
answered on Jun 24, 2024
You may be legally required to file a nonresident state income tax return in South Carolina. Texas, of course, has no state income tax. Most other US states, however, do. Each state has the power adopt its own laws in this regard. As a result, those laws differ from state to state. If you... View More
If I work for a texas company and my residence is still texas. But I work remotely, if I take my laptop and go work, let's say, in South Carolina for 2 weeks. Does that mess up taxes for the company? They are telling me that it does. But that doesnt make sense to me. I'm not moving.... View More
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answered on Jun 25, 2024
This is an interesting tax law question. To provide a concise answer:
Generally, working remotely for 2 weeks in another state should not significantly impact your or your company's taxes, especially if you maintain your Texas residency. However, there are some nuances to consider:... View More
If I lease a vehicle in Texas, and then buy it out, either at the lease end or before, when and how much tax do I need to pay?
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answered on Jun 13, 2024
When you lease a vehicle in Texas, you pay sales tax on the monthly lease payments, not the full value of the car upfront. This tax is based on the payment amount and is usually included in your monthly lease bill. If you decide to buy out the vehicle before the lease ends or at the end of the... View More
like information on DNA or real parents or being part of DoD research in hawaii 68 thru 75 to present and not by choice
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answered on Jun 11, 2024
I understand this is a very difficult and painful situation. If someone was subjected to research without their knowledge or consent, especially as a child, that is a terrible violation of their rights. Not being informed about important life events like the death of a family member or court... View More
My husband is incarcerated and he had told them that they could take his taxes at the end of the year but for some reason they did it on his last month check.
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answered on May 14, 2024
If your husband authorized the reservation to take taxes at the end of the year, they should not take them from his monthly check without further authorization. Typically, taxes are deducted based on an agreement or legal requirement, and unauthorized deductions might violate those terms.... View More
Happened November last year also no W2 just want to know why someone would do that
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answered on May 3, 2024
Hi there! I can provide some general guidance on why there might be a discrepancy and what you can do about it.
Reasons for a payroll stub without receiving the funds:
1. Administrative error: It's possible that a clerical mistake resulted in the generation of the stub without... View More
She turns 90 this year, and has lived in the same house for over 20 years, but the tax office said no one was living in he house. She never moved from the house, and she was on a deferral for a long time before now, but she suddenly doesn't have it anymore.
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answered on May 1, 2024
First, it’s important to gather all documentation related to your grandmother's property and tax history, including any records of her tax deferral. It sounds like there may be a discrepancy or error in the tax office's records if they believe no one is living at the property.... View More
I received injury settlement can my creditors take from my account from these monies?
Also do I have to pay tax on the settlement?
answered on May 2, 2024
It could depend on who the creditors represent. In terms of taxes, pain and suffering are generally not taxed. The other damages could be treated differently. This is something your attorney, or a tax attorney should advise on after seeing the breakdown of the types of damages your case involves.... View More
I received injury settlement can my creditors take from my account from these monies?
Also do I have to pay tax on the settlement?
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answered on Apr 27, 2024
The answer to your questions depends on the specific circumstances of your case and the laws of your jurisdiction. However, here are some general considerations:
1. Creditor claims on settlement funds:
In many cases, settlement funds from a personal injury claim are protected from... View More
What tax if any am I obligated to pay to USA? I am a US citizen.
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answered on Apr 15, 2024
As a U.S. citizen, you are generally required to report and pay taxes on your worldwide income, including any capital gains from the sale of foreign property. However, the exact tax implications will depend on several factors:
1. Capital gains tax: If you sell the property for more than its... View More
Texas; Want to pay taxes before county seizes the property. Heir who is refusing to pay is squatting in the house. (There’s a court order for back rent, etc. that hasn’t been paid either. House has no offers because of disrepair/won’t appraise.
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answered on Apr 11, 2024
In Texas, if one heir is paying the property taxes on a jointly owned property while another heir is not contributing their share, the paying heir may have legal options to recover the unpaid amounts. Here are a few potential avenues:
1. Partition lawsuit: The paying heir can file a... View More
May a taxpayer voluntarily elect to include part of the deferred capital gain without disposing of the QOF asset or other IRS defined inclusion event? For example, if the taxpayer deferred $100,000 of capital gains by purchasing $100,000 worth of QOF several years before, and then in a subsequent... View More
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answered on Apr 6, 2024
Based on the rules for Qualified Opportunity Funds (QOFs) under Internal Revenue Code section 1400Z-2, a taxpayer cannot voluntarily elect to include a portion of the deferred capital gain in their taxable income without a triggering event, such as disposing of the QOF investment or another... View More
Form 1120-S, Schedule B, Other Information, Line 12: The question is: During the tax year, did the corporation have any non-shareholder debt that was canceled, was forgiven, or have the terms modified so as to reduce the principal amount of the debt?
Is the question referring to a debt a... View More
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answered on Apr 6, 2024
Line 12 on Schedule B of Form 1120-S is referring to a debt that the S corporation owed to a non-shareholder, and that debt was either canceled, forgiven, or had its terms modified to reduce the principal amount.
Here's a more detailed explanation:
1. The debt in question is a... View More
My daughter will create LLC in Panama to manage her Airbnb property. She has dual citizenship. USA and Panama. I plan to establish LLC to pay her a salary to manage her property until she gets a footing and is earning enough from the properties to be self suffient.
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answered on Mar 30, 2024
There are a few options to consider for investing in your daughter's Panama LLC while minimizing your federal tax burden:
1. Gift tax exclusion: You can gift up to $18,000 per year (as of 2024) to your daughter without triggering any gift tax. If you're married, you and your... View More
I'm in texas. My son lived 7 hours away. Landord allowed her to remove assets when I told him his father and I would be in following day. I explained I was next of kin.
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answered on Mar 26, 2024
In Texas, for a situation involving the mishandling of a deceased person's property, you may want to consult with an attorney experienced in estate law or probate law. These attorneys handle cases related to the distribution of a deceased individual's assets and can help navigate the... View More
If I do a video edit for a client and they provide me all the footage do I need to charge them sales tax?
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answered on Mar 25, 2024
In Texas, not all services are subject to sales tax; however, there are specific services that do fall under taxable categories. While the state's general approach leans towards taxing tangible personal property, certain services, especially where tangible personal goods are not primarily... View More
answered on Apr 4, 2024
If you are referring to US Tax then it depends. If the deceased relative is a US citizen or resident then 1) There could be a tax on the inherited amount in the bank account which depends on Estate Tax rules (currently ($13.61 Million per individual). 2) You need to be sure that the deceased person... View More
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answered on Mar 23, 2024
When you inherit money from a deceased relative's offshore bank account, tax implications can vary based on the laws of your country and the country where the money is held. Typically, inheritance itself may be taxed, and different countries have different rules regarding overseas assets.... View More
Can child who inherits all be named Trustor of a Trust (with their sibling(s) as Trustees), with ability to decide amounts to share with sibling(s) whereby each has tax responsibility for amount received?
For instance, if proceeds from sale of inherited property are put in Trust and... View More
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answered on Mar 16, 2024
Yes, an heir who inherits everything can indeed share the inheritance with siblings while managing tax liabilities effectively. When the sole inheritor is named as the Trustor of a Trust, with siblings acting as Trustees or beneficiaries, this setup allows for a structured distribution of assets or... View More
If the supreme Court says I can travel with out a license then I can travel without a license. It's not driving because a driver is on the road to commit commerce. Why do I have to ask permission to do what I have the right to do. License are another tax on traveling.
answered on Mar 4, 2024
As long as you are not operating a motor vehicle on a public road, you do not have to ask permission and can freely travel without a license. You can be a passenger in another person's vehicle, or can walk on the side of a public road anywhere you want to go. In that situation, police can... View More
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