Taxes Legal Questions and Answers

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Do I Need to Give A Statement for Services Paid for Home Health Services?

i work privately as an independent contractor doing home care services and no one has ever asked me for a statement of how much i earned and i have a client that is asking for a statement so that he make get a tax credit for what he paid me for the year 2008 can you please tell me what type of form do i have to use for this and do i have to give him a statement? I am an inde...

07/13/2009   |   Category: Taxes   |   State: Texas   |   #17521

Is it permissible for two single member LLCs (SMLLCs) to own real estate as joint tenants?

Is it permissible for two single member LLCs (SMLLCs) to own real estate as joint tenants in New Mexico for the purpose of section 121 exclusion of gain on the sale of a home used only as a residence (not as a business rental) by each of the two individual members of the two SMLLCs? If you could elaborate on the tenancy in common requirements for SMLLCs to obtain the same sec...

07/09/2009   |   Category: Taxes   |   State: New Mexico   |   #17409

Will Removing Son from Deed Result in Gift or Inheritance Tax?

In 2000, I filed a quitclaim deed adding my son as an owner to my home along with me. I now need to file another quitclaim deed removing him as an owner of the property leaving me as the sole owner. Will there be a gift/inheritance or any tax due as a result of this transaction? In 2000, this was a no money transaction and will be a no money transaction now as well.

06/10/2009   |   Category: Taxes   |   State: Connecticut   |   #16919

How do I get my tax refund if the state refuses to release based on other tax liabilities?

Having payed a tax payment found by the Virginia Tax Department in 2008, for taxes on a cashed in Insurance policy in 2005 of about $2,300.00. I paid the tax and penalties within a month of the notice (I have all the receipts and paper work) in April 2009 my bank account was seized for the money I had already paid. I contacted the VA Tax Department and sent them my receipt and ...

05/23/2009   |   Category: Taxes   |   State: Virginia   |   #16760

What am I able to deduct for on my rental property for tax purposes?

The duplex that I have owned since 1991 and have been repairing termite damage (for approx 2 1/2years) and abating lead base paint. I declared only 1/2 of deduction expenses because I had many tool and personal items in one half. And rented the other half. It has been minimal 1- month and 3months respectively each year because I require non-smoking it is difficult to rent. ...

04/29/2009   |   Category: Taxes   |   State: ALL   |   #16421

How will my being a US citizen and being paid by an overseas company affect my taxes?

A Spanish company hires me in the USA (I am a USA citizen) and tells me that all taxes etc are my responsibility. I file 2007 taxes as independent contractor. They control all facets of my work and want me only working for them. In 2007 they also incorporate in the States and reneged on promise that I would become full time employee in 2008 of USA Inc company. They maintain me ...

04/27/2009   |   Category: Taxes   |   State: ALL   |   #16194

What can if I failed to pay payroll taxes when I walked away from my company?

I have an LLC in El Paso Texas. I walked away with the shirt on my back and moved to another state. I want to make retribution to the county for past due payroll taxes but I am not in a financial position to do so now. How do I initiate contact and what can be done to handle this in a manner that I can afford? I also did not submit then financial records for the 2008 employee w...

04/23/2009   |   Category: Taxes   |   State: Arizona   |   #16094

When transferring trucks from two sole proprietorships to a corporation, will there be sales tax?

When transferring trucks from two sole proprietorships to a corporation, will there be sales tax to pay by the corporation? If there is, is there a way to avoid it since it was already paid once by the owners. The owners of the sole proprietorships would be the owners of the corporation.

04/21/2009   |   Category: Taxes   |   State: Ohio   |   #16072

How can I get a copy of the credit card agreement for tax purposes?

I received a 1099-c from a credit card company. I had told them about 4 years ago that I do not believe the card was mine. I asked them to send me a photo copy of the signed agreement for the credit card. They never returned my call. Now my taxes are do and I do not have the money to pay. The card says they forgave over $15,000.00 so I will owe around $2,000.00 to the feds...

04/12/2009   |   Category: Taxes   |   State: Michigan   |   #15956

Can the Board of Supervisors assess my property at 35% below it appraised value?

Regarding my property in the Michigan, the Board of Supervisors assessed my property at 35% less than my property is worth. Is this assessment legal or not?

04/04/2009   |   Category: Taxes   |   State: Michigan   |   #15884
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