Does a retired person who is drawing life insurance and social security have to claim any profit on their taxes, i.e. if they are renting a piece of property or a house and only want to receive cash for rent.
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answered on Mar 4, 2023
Generally, rental income is considered taxable income and should be reported on the individual's tax return. This includes rental income received by a retired person who is also receiving social security and life insurance benefits. However, there may be deductions and credits available to... View More 
And I have been told by a good source that he's just doing this to make me pay for something I did not do I want to sue
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answered on Jan 3, 2023
Have you been served with a civil warrant? If not, you might forget about it until sued. Generally a 6 yr SOL. If worried, then make him a cash offer if you received a shed.
2. Are proceeds from selling a home in Florida exempt from Federal/Tennessee taxes?
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answered on Oct 11, 2023
Life Insurance is exempt from TN taxes and creditors. But the US will sometime tax them although rarely. FL property sale income is a capital gain usually subject to US taxes. TN does not have an income tax.
Owner of properties deceased 10 years no probate. No immediate family. Unmarried partner of 40;years lives and pays taxes on all property and upkeep . Is she entitled to property transfer in her name?
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answered on Aug 14, 2023
She might be, yes, but there are facts missing from your description that could make a difference. Plus, it is not automatic. She would have to go to court to prove her claim. She should schedule a consultation with a real estate litigation attorney.
My mother passed recently and was put in nursing home in June 2020. Signed up for personal choice with State and also had Medicare. However nursing home bills are paid but State saying I’m responsible for my mother debt they paid while in nursing home. I am unaware of this debt? Now they want... View More
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answered on Jun 14, 2023
Hire an attorney for advice on asset protection, exemptions, and also prepare to defend against the State's probable lawsuit.
Supposing the land was sold without any notice and without any chance of redemption until the last minute
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answered on May 19, 2023
Each County Trustee gets the County Attorney to do tax sales at different delinquency periods. If you want to set aside a sale, hire an attorney now. Redemption period may not have run yet, but then you have to have the money to redeem.
And structure measurements to be certain the county had the correct information .I only agreed because he claimed to be the tax assessor. I became suspicious and called the county assessor and was informed that he had not been here since 2021.i later discovered he was hired by my neighbor posing as... View More
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answered on Apr 19, 2023
Those are crimes which need to be reported to the Sheriff. Be ready to give specific information.
I need to know more information about how this process works.
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answered on Jan 17, 2023
Specialization will not help. Hire a competent TN attorney to examine your Redemption Rights, and possibly exercise them. It will not be cheap and probably difficult. But if you want your home back, get in gear. Time is of the essence.
Previous owner cannot be found and there are no liens on the property
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answered on Jul 25, 2022
Either the titled owner who lost the property or his heirs. It is not the purchaser at the tax sale.
answered on May 16, 2022
When you file for bankruptcy relief, you must sign several bankruptcy Schedules showing ALL your estates and ALL your debts, and swear to their accuracy. You cannot leave anything out.
Credit card and medical bill debts are generally unsecured, i.e., there is no collateral securing... View More
The property was purchased on the greenbelt in the 90’s, last year while cutting timber on said property, police showed up and told me I need to stop cutting because I didn’t own the property. Apparently 7 years ago the property was taken off of the greenbelt clause making me delinquent on the... View More
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answered on May 2, 2022
There is a lot more to this than simply getting notice of Delinquent Taxes. Hire a competent attorney to search the Title. The Redemption period is probably past, but the alleged owner may only have a Bill of Sale, not a Deed. An Ejectment Action may be possible. The legal description should... View More
I have an electricians license in TN as well as local business licenses. I have registered to pay business tax and franchise and excise tax on Tennessee. I live in Virginia and have formed my LLC in Virginia. Am I okay to use my local TN business licenses and my TN electrical license to perform... View More
answered on Apr 1, 2022
You could register your VA LLC in TN as a foreign entity.
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answered on Feb 10, 2022
The Gift Tax Exclusion is alot more involved than that. What is your question?
It's for notification of withdrawal of driving privileges SDCL 32-12-49 effective 1/29/22
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answered on Jan 21, 2022
That does not sound like a TNDL. You may wish to read the Citation verbatim, possibly with a magnifying glass. Then call the Court that it is before and ask. Otherwise hire an attorney to figure out what is going on. It may not be a Citation but a Notice of Suspension from DOS due to an... View More
Owned for 31 years. Lived there until 3 years ago. I am a widow and soon be 59 years old
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answered on Nov 23, 2021
You are probably exempted from the capital gains tax as you were 55 during the last 5 years of living there as your home. But you still have to report the sale, and you might not meet the one time exclusion because of your age. Check IRS Publication 523.
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answered on Aug 12, 2021
Unfortunately TN SC has ruled a tax is not a claim against the Estate. The SOL may have run on collection of taxes, or there not be property of the deceased taxpayer to collect from. Hire a competent attorney to assess the situation since apparently you do not have an attorney handling the... View More
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answered on Jul 14, 2021
There are tax implications to all Parties involved. This issue needs a competent attorney's advice after considering all the known facts. Most importantly, what is your basis? A Future Interests Deed might accomplish your goals and should be considered by an attorney who knows how to... View More
The State Law is T.C.A. 5-8-102, a and d.
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answered on Nov 25, 2020
That should be the "Wheel Tax" which is levied in many, but not all, Counties. It is part of the Registration Fees each year. Take a copy of your VA Decision Letter (and probably a DD 214 also) to the County Clerk for your next Registration. If applicable, it should save you some money.
But they continue to add a $29,000 manufactured home to my property taxes each year. What else can I do?
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answered on Oct 26, 2020
Each County has a period where Tax Appraisals can be contested. Contact the Tax Assessor in that County and find out what the process is and when. You too late for 2020 but you can file the written contested appraisal application now.
He was on medicaid in a nursing home and all of his income went to that. Do i have I have to file a will in probate if I am the only heir and their are no assets to distribute? I have also found out owed a significant amount in back taxes, do I have to file a return with the IRS if there is no... View More
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answered on Sep 29, 2020
There is no Statute mandating Probate of every Decedent's Estate. Many, many Next Of Kin make this mistake. If there are no assets to distribute, there is no purpose for a Probate. Also land rarely goes through an Estate. If something happens to go to you, worry about any possible lien... View More
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