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 »
i have a photography business and recently became LLC at beginning of the year. I dont understand or know if i am a pass thru entity and i dont know when / how often I am supposed to pay my sales tax. Before this i was sole proprietor and it was all much easier to understand
Single member LLCs are still taxed by the Federal Government as sole proprietorships by default. Unless you make an election to be taxed as a corporation, nothing really changed on the federal level. Even if you were a state sole proprietorship, you would still have state sales tax to worry about...Read more »
I just received a letter from the IRS for unpaid Federal Taxes. I was awarded a settlement from my former employer. Should I contact the IRS myself on this issue or should I hire a Tax Attorney to do this for me? I believe that the entire amount of the settlement should not be taxed, or possibly... Read more »
Settlements can be tricky because they have to be closely read to determine the proper tax classification of each item. That said, many taxpayers can choose to try to handle issues with the IRS on their own. There is certainly a wealth of information available through the IRS publications,...Read more »
I am a US citizen (in the state of Virginia) considering opening a business in Estonia, since I was approved as an Estonian e-resident recently. In Estonia, profit retained within a company for re-investment is taxed at 0% and is only taxed at the normal Estonian corporate tax rate when dividends... Read more »
Definitely find a lawyer who specializes in this area. You don't want to try to guess with taxes. If you need a referral, feel free to contact me. Also, I found this white paper which you may find helpful in understanding the issues from a broad view: https://fas.org/sgp/crs/misc/R40623.pdf
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