My daughter lives with me she only sees her dad on his days off from work however he's claimed her on taxes the last 4 years. He refuses to let me claim her. He doesnt give me any of the money for her expenses. How can I keep him from being able to claim her!!
The IRS does not allow both parents to claim an exemption for the same child. Your child custody agreement should tell both of you who is entitled to claim your daughter; some parents rotate each year; others allow one or the other to claim the child. If you have some written proof that you earned...Read more »
My student loans were in default but through the department of education I was placed into a rehabilitation program. I made every single payment each month, I never missed a single one. I am out of default and made all required payments to the program. My tax refund was taken in full by the... Read more »
The Department of Education did not violate any laws by taking your IRS refund check as partial payment on your federally insured student loan. Regardless of whether or not your rehab program is up-to-date, the fact remains that you are still in arrears on the student loan debt. Additionally, since...Read more »
What are the tax consequences of adding an adult child as a Joint Account owner to an elderly parent’s existing savings account? Would a withdrawal from the Joint account by the adult child fall under the gift tax, or would it be considered a shared asset?
Yes. Try looking at it this way: If an elderly parent gives the adult child $30,000 in cash, that gift would have to be reported as a gift--on both returns. The same rules apply to savings accounts, or any other gifts.
I have a home in NC and VA and do not rent either of them. I travel between the two houses. I am a NC resident and pay vehicle personal property tax to my county in NC. I received notice from the county in VA that I'm being treated as a tax evader because my vehicle was reported as garaged... Read more »
As in all states, there is an administrative appeal process available in Virginia to allow you to challenge the Virginia assessment; it does not require a lawyer. However, it is usually best to pay small tax assessments rather than try to challenge or litigate them. The law even has ancient advice...Read more »
My wife is in the process of making a business investment, however I as the husband can't be party to the the business and I need to make a disclaimer to that effect. Essentially a disclaimer of marital interest.
Spouses in Virginia can enter into enforceable marital agreements under Virginia Code Section 20-155 of the Virginia Premarital Agreement Act. These agreements take different forms, including prenuptial agreements or antenuptial agreements, marital agreements, separation agreements, stipulations...Read more »
Probably not--especially if the property owner has no income from the cemetery and no expenses related to it. If the owner is paying state or local property taxes on the entire piece of property containing the old cemetery they may want to look at prorating the R/E taxes attributable to the...Read more »
You'll have to calculate depreciation recapture on the conversion from business to personal property and pay ordinary income taxes on the recapture. The you'll pay capital gains taxes on the gain on sale. Unless you qualify for the personal residence exemption. It's hard to say...Read more »
I am finding it difficult to locate an attorney with direct experience in that area. How do you best search for a lawyer who has such focused experience ? I live near Front Royal/Winchester but travel to Northern VA frequently.
Background: I have been unemployed for several years and had... Read more »
Any good tax attorney should be able to advise you as to the best way to resolve your liability. You have a few options available to you. Stay away from the places you see advertised on tv. Because this is a federal tax issue you can contact a tax attorney anywhere in the country for help. Most...Read more »
my exhusband forged my documents in 2013. he altered the employer id number and stole the financials using the incorrect years to file them and sold it to google for an award. in 2017 my devices kept having all these wierd things coming up. i just thought it was spam. next thing i know i seen an... Read more »
If your wife takes over the account at your death, there will be no tax consequences other than the annual tax consequences of the trading activity within the account. You can pass your estate to your wife tax free.
Our real estate taxes increased $214,000 for 2018 - a 45% levy change. We purchased a farm in 2017 that was tax assessed at $548,900 and they now have assessed it at $762,800. We purchased it for $735,000. Their justification was seeing the MLS and the pictures, so they knew of the improvements.... Read more »
You'll have an uphill battle as to using the sales price for the re-appraisal. Many jurisdictions do exactly that, and the fact that you paid $735,000 is going to make it fairly difficult to argue that it isn't worth $735,000. You might have a better shot reversing the $762,800, but you...Read more »
2010 I went to a college to get info on classes. I saw the prices & instantly left. They unknowingly enrolled me. Nothing was signed by me, no oral contract, never applied for fasfa. The following year on my credit report the school sent me to collections for a semester of classes. I went to... Read more »
You should dispute this item on your credit report with Equifax, TransUnion, and Experian. The Federal Trade Commission has a web page with instructions on Disputing Errors on Credit Reports that can provide you with information on how to dispute this item on your credit report. You can find the...Read more »
She lives in FL and I reside in Va she doesn't work, but somehow wants to claim my 2 children, she also is married and has 2 other children which the husband claims, Is there anything I can do to make this fair since she refuses to let me claim any of them?
Unless it is in a court order, it is hard to enforce such provisions. If the judge forgot to put it in a court order, this can typically be corrected with the proper motion. To file such motion, hire a lawyer.
You really need to shut down with a lawyer to review the facts. I personally rent a second home of mine out in my own name, but that is probably a bit of the cobbler's children having no shoes. Many suggest that it is best to use an LLC as the leasing agent, so that you increase your...Read more »
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