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answered on May 23, 2025

If you take money out of your 401(k) to pay for divorce legal fees, you’ll have to pay regular income tax on the amount you withdraw. If you’re under age 59½, you’ll also have to pay an extra 10% penalty to the IRS. Unfortunately, there’s no exception to this penalty for legal fees related... View More

Yes, you can withdraw funds from your 401(k) to pay legal fees, especially since you're no longer employed by the sponsoring company. However, unless you're over 59½ or qualify for a specific exemption, the withdrawal will be subject to income tax and a 10% early withdrawal penalty.... View More

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answered on Apr 1, 2025

This question raises many issues. First, whether the exclusion applies to minimize capital gains tax on the transaction. There are requirements.

Secondly, if the property is sold for less than its fair market value, part of the transaction might be subject to gift tax implications.... View More

This situation raises important questions about contract law and your rights as a consumer in Washington State. Here’s an analysis:

Key Legal Considerations

Binding Contract:

The purchase agreement you signed with the dealership is a legally binding contract. It should... View More

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answered on Apr 8, 2024

As an independent contractor (1099), you are responsible for keeping accurate records of your business expenses, including mileage driven for business purposes. While there is no specific law that requires companies like Rover to provide you with all the necessary information for your tax filing,... View More

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answered on Mar 29, 2024

Selling a house and moving overseas can have several implications for your parents, particularly regarding their Social Security Disability Insurance (SSDI) and Medicaid benefits. First, it's important to note that SSDI benefits are typically not affected by the sale of a primary residence or... View More

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answered on Feb 28, 2024

When you co-own a house with someone who incurs significant debts, such as court fees and lawyer fees, there is a risk that creditors might target the property to recover what is owed. However, the extent to which your house is at risk depends on several factors, including how the property is... View More

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answered on Jan 26, 2024

In addressing your question, it's important to understand that 401(k) plans are subject to specific regulations under the Employee Retirement Income Security Act (ERISA). Generally, these plans are not designed to be paid out through extra hours worked or through your regular paychecks. Such... View More

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answered on Jul 8, 2025

If you remain a W-2 employee while living in Spain, your U.S. employer may continue withholding U.S. payroll taxes, but risks triggering a permanent establishment issue under Spanish law. To reduce liability, your employer should secure a Certificate of Coverage (via SSA Form 8809), which exempts... View More

Hello - I am not a tax attorney, but have bought and sold a lot of real estate and love this area of the law....so, please take what I have to say with a grain of salt.

First off - add everything you can to the basis of the house - this would include the basis of the house when you and... View More

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answered on Jun 13, 2025

Starting to pay yourself or others in a nonprofit is a big step, and it's smart that you're asking these questions up front. Legally, nonprofits can compensate board members and officers, but payments must be reasonable, well-documented, and tied directly to the work being performed. The... View More

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answered on May 15, 2025

In Washington, property owned before marriage is typically considered separate property, even in a community property state. So, if you had stocks, mutual funds, or a 401(k) before getting married, the original assets are usually treated as yours alone. However, things can get more complicated when... View More

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answered on Apr 11, 2025

Taking on a part-time retail job while working full-time isn't automatically a problem, especially if the second job is in a completely different industry and doesn't compete with your primary employer. Since your current agreement includes a non-compete and conflict of interest clause,... View More

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answered on Feb 8, 2025

Taking earnings out of a Roth IRA before age 59½ usually comes with a 10% penalty and taxes, unless you qualify for an exception. Since you’ve already withdrawn your contributions, any additional withdrawals would come from earnings, which are subject to these rules. Unfortunately, financial... View More

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answered on Jul 18, 2024

You may qualify for property tax relief in Washington State, as it offers several property tax exemption and deferral programs for senior citizens, especially those with low fixed incomes. Given your age and income, you could be eligible for the Senior Citizens and Disabled Persons Property Tax... View More

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answered on May 11, 2024

My recommendation would be to only engage in lawful and transparent banking and financial practices. If any of the international banking services you are looking to provide could be used to secretly finance military or intelligence operations, you should refrain from offering those services. A... View More

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answered on Sep 14, 2023

To legally handle your mother's request, you should:

1. Ensure she has a valid and comprehensive will or trust that clearly outlines her wishes for the art business's succession.

2. Work with an attorney experienced in estate planning to facilitate the transfer of assets... View More

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answered on Aug 31, 2023

If you are retired on Social Security with a small pension and are not required to file taxes, you might still be eligible for the federal tax credit for buying a qualifying plug-in hybrid vehicle. The federal tax credit is often claimed when you file your federal income tax return. However, since... View More

Rounding to the nearest whole dollar is standard practice. DIY forms automatically do this for you.

You can bring them in for a contempt hearing for violating the child support order. In your declaration, I’d attach the email or text messages where your ex made these statements. Please reach out if you need representation!