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Your current state is Ohio
I own a company and buy cars from new dealers and title in NC and ship them out
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answered on Apr 1, 2024
In North Carolina, you may be eligible for an exemption from the Highway Use Tax if you purchase a vehicle in the state but export it outside of NC within 90 days of purchase. This exemption is known as the "Out-of-State Delivery Exemption."
To qualify for the exemption, you must... View More 
Land would be in a opportunity zone in oregon.
Sell of land is in oregon as well.
answered on Apr 4, 2024
There are ways to avoid or reduce your capital gains from the sale of land. Commonly accepted methods are transactions involving a 1031 Exchange or investing the gain in Opportunity Zones. With a 1031 Exchange, you must use a Qualified Intermediary which holds the sale proceeds of the land, and... View More
Land would be in a opportunity zone in oregon.
Sell of land is in oregon as well.
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answered on Apr 1, 2024
Investing capital gains from the sale of property into an Opportunity Zone can provide tax benefits, but it does not automatically avoid capital gains tax. Here's some information about Opportunity Zones and capital gains:
1. Opportunity Zones: These are economically distressed areas... View More
There was no will, no estate per se. Now that county is saying I owe taxes on a home that was foreclosed and sold in 2016.
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answered on Apr 1, 2024
I'm sorry to hear about the loss of your mother and the difficult situation you're facing with the county regarding taxes on her foreclosed home.
In general, when a property is foreclosed and sold, the new owner becomes responsible for the property taxes from the date of the sale... View More
I am a US citizen living and working in Ireland, but my US home is in Texas. Sometimes I have work travel to NJ for conferences, labs, etc. I am not and have never been a resident of NJ. My employer is a European company. I do not receive separate income from anyone in NJ when I travel there.... View More
answered on Apr 4, 2024
New Jersey Sourced income is such that is earned or from a source in the State of New Jersey (working in the State, making sales inside the State, or the sale of property in the State to name a few). Your question requires more facts. The likelihood is if there is any sourced income in NJ it would... View More
I am a US citizen living and working in Ireland, but my US home is in Texas. Sometimes I have work travel to NJ for conferences, labs, etc. I am not and have never been a resident of NJ. My employer is a European company. I do not receive separate income from anyone in NJ when I travel there.... View More
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answered on Mar 30, 2024
"NJ-sourced income" refers to income that is earned or derived from sources within the state of New Jersey, regardless of where the taxpayer resides. This can include income from employment, business activities, or property located in New Jersey.
In your case, if you are... 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 received a lump sum settlement for disability benefits under my employer's LTD group policy last year, and I believe my claim should meet the definition of unlawful discrimination under IRC section 62 a 20 e 18 so I am likely able to deduct attorney fees and court costs on 1040 Schedule 1... View More
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answered on Mar 29, 2024
Understanding the nuances of tax deductions related to attorney fees and court costs can be complex, particularly when it comes to settlements for disability benefits under an employer's LTD group policy. According to IRS Publication 525, attorney fees and court costs associated with claims... View More
My parents live in Washington state, and my mother is disabled receiving SSDI and long term care service where a caregiver comes to her house every day. They live in a house they jointly own, no mortgage. They're both seniors, and now they miss their home country, so they decided to move back... 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
As the end date is getting closer, I am wondering that what option should I select in my marital status? I have been to US since 2022 as an international student and working on CPT. I am married but my spouse never been to US. She is in home country. In this context, should I select... View More
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answered on Mar 29, 2024
When it comes to filing your tax returns in the United States on an F-1 visa, your marital status plays a crucial role in determining how you should file. Since you're married, but your spouse has never been to the U.S. and presumably doesn't have income subject to U.S. tax laws, you face... View More
In a situation where you are a transportation lessor (one truck, tractor) and all expenses are deducted from the gross by the lessee (transportation company) before you receive revenue.
Does the lessee typically write off those expenses?
I received a 1099-NEC accounting for the... View More
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answered on Mar 29, 2024
When you're working as a transportation lessor, it's common to encounter complex arrangements regarding payments, expenses, and tax reporting. The situation you've described, where the lessee deducts expenses from the gross amount before issuing your net pay, does raise some... View More
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answered on Mar 29, 2024
In a situation where your car was totaled before you managed to pay the sales tax, and you're now facing the challenge of not having the funds to cover this tax to access the insurance check, it's essential to explore all available options. First, consider reaching out to the tax... View More
They applied another person's taxes to ours. Also we switched mortgage companies and we thought both services paid from escrow.
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answered on Mar 28, 2024
If your town mistakenly sent you an overpayment for your property taxes, it's likely that you are responsible for returning the overpayment. This is because the payment was not intended for you and was sent due to an administrative error. Laws and regulations generally require individuals to... View More
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answered on Mar 28, 2024
If you're granted a homestead exemption, it means you can receive a reduction or exemption on a portion of your property taxes related to your primary residence. However, this does not typically exempt you from paying school taxes. School taxes are a crucial part of local property taxes and... View More
Hello Attorney, a few years ago we inherited a cabin and a dock in Lake Arrowhead, California. Because that happened before Proposition 19 went into effect, we were able to keep the original property assessment. However, we were told by the county, well someone who answered the phone, that we... View More
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answered on Mar 28, 2024
Under California law, property inheritance and tax assessments are subject to specific regulations which can indeed differ based on the type of property and the timing of the inheritance. Before Proposition 19, certain properties, including primary residences inherited from parents or grandparents,... View More
back taxes. Where do I start? Should I reach out to the IRS first? Should I file an extension for this year and then find a tax professional to complete the previous years? Should I retain an attorney to protect the one asset that I have, my home, from being liened on by the IRS. Please... View More
answered on Apr 4, 2024
Unless you are a minor, or under some sort of protective order, the duty to file taxes is on each individual themselves. Staying in compliance is the most important part of this situation. Filing an extension and paying what you owe in the current year is a good start and hiring a tax professional... View More
back taxes. Where do I start? Should I reach out to the IRS first? Should I file an extension for this year and then find a tax professional to complete the previous years? Should I retain an attorney to protect the one asset that I have, my home, from being liened on by the IRS. Please... View More
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answered on Mar 28, 2024
Firstly, reaching out to the IRS directly is a wise initial step. They offer options for those who haven't filed for past years and can guide you on how to proceed with filing back taxes. It's crucial to communicate your situation to them; they can provide forms for previous years or... View More
back taxes. Where do I start? Should I reach out to the IRS first? Should I file an extension for this year and then find a tax professional to complete the previous years? Should I retain an attorney to protect the one asset that I have, my home, from being liened on by the IRS. Please... View More
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answered on Mar 28, 2024
Hire an attorney to file those tax returns. Did he not mail the returns after you signed them? There will be failure to file, failure to pay and late filing interest penalties. Hopefully the relative did not receive levy notices already. Check your title for tax liens.
What is the appropriate tax form to use when filing taxes as an applicant with an ongoing green card application? Should I use the 1040 or the 1040NR?
answered on Apr 16, 2024
Hello Sir,
I'm an immigration lawyer based in Atlanta. As my feedback follows briefly after the final hours of tax day here in the U.S., I want to commend you on being proactive and addressing your tax concern several weeks ago. I also want to provide you with some encoragement... View More
the property and demanding that I pay for her lawyers' fees. This is not a divorce case. We own a condominium apartment and this is our first home together. We have owned the property for a year now. I paid more than half of the apartment cost, yet we still own it 50/50. I left said property... View More
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answered on Mar 26, 2024
When you decide to donate your half of the property in Puerto Rico to your ex, there could be tax implications depending on the value of the property and the laws in place. In Puerto Rico, the donation of real estate is subject to the payment of a donation tax unless specific exemptions apply. This... View More
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