Archive for the ‘FREQUENTLY ASKED QUESTIONS’ Category

Do I have to pay taxes on a home I Inherited?

Tuesday, March 30th, 2010
tax attorney indiana
Michelle J asked:

I recently came across some startling information that I have inherited a home form my grandfather. He passed away in 1999 and, in his will. he left this home to myself. However it was stipulated in the will that his live in girfriend was granted a life estate by him for the property, in which she was able to stay in the property until she couldnt for 30 days. All other assets were left to her in the will explicitly. Apparently she couldnt pay the inheritance taxes on the property and the deed was officially transferrred over to me in 2003 and the attorney got the estate closed…..which I never knew any of this was going on. So now, in January of 2009 all of this came to light when the girlfriend was put in a nursing home and her POA was trying to sell the home and found out it belonged to me. I spoke to a lawyer who said the property was mine, and being a class A transferee, I wouldnt have to pay taxes on anything under 100,000. So now I have fixed the home up and put the home on the market. I received a buyer and am waiting to close on the property. There was a small mortgage left on the property which i have been paying for. The girlfriend has since passes away and now I am confused as if i have to pay any taxes on the sale of the home? Also why i was never informed of the transfer of the property to myself and why the estate was closed w/out my knowing any of it? I have never lived in the home and I own a home of my own…I was planning to use part of the monies from the sale of the home to fix up my primary residence. I currently live in indiana and the inherited property is in the same state. any information would be greatly appreciated!

Possibly related posts: (automatically generated)

Help with major for Tax Attorney?

Monday, March 29th, 2010
how to become a tax attorney
Erik asked:

Hi I’m a junior in high school and intrested in becoming a Tax attorney. My CUM GPA is 3.82 and I’m wondering what bachelors I should get to help me with tax laws. I also would like to know the necessary steps to become a tax attorney

Possibly related posts: (automatically generated)

HELP!I’M BEING CHEATED.My soon-to be ex-husband, will file bankrupt if I don’t settle for $50k?

Friday, March 26th, 2010
tax attorney irs settlement
**RUBY** asked:

My husband is falling behind on mortage and other bills, now that we’re going though a divorce. He wants to keep the house and everything in it…I was married five years, he asked me for divorce and he is back with his ex… Our home is worth about $260000.00 and made up a debt of $90k, he’s a gambler, I provided half of the bills, and all of a sudden this money came out of nowhere,he got a truck for his ex- and he is claiming 90,000. of it as if it was “our debt”, I didn’t include my bills. My attorney thinks that if I don’t take my husbands settlement, that he will file bankruptcy, so that I don’t get a penny of it..To give you a better idea of how money starving bastard he is.He filed income taxes as head of household,put me as House wife, and four other that are not related to him, he never shared a penny of it, but with his ex-wife.. So I don’t know what to do. I owe the IRS alot of money..and he wants me to take 50,000 or he’ll let the house go &go bankrupt?pls advice .

Possibly related posts: (automatically generated)

Divorce in Indiana?

Saturday, March 20th, 2010
tax attorney indiana
Needsomeluck asked:

My wife was physical abusive and that is what caused me to leave the house with just the clothes on my back. She filled for the divorce before I could get to it. She does not have an attorney as far as I know. She is trying to split our debt in half, but she is saying we owe her mother a large amount of money. I never seen any of that money. I also sold my car to pay on her car and we agreed at the time that part of our tax money would go to me getting a replacement. That never happen, so I have no transportation because of this and also had to leave my job because I had to move 90 miles away to stay with my parents. What can I do because I can not afford a lawyer. If bills are split, does the court monitor them, or force you to make certain payments. Is there any help on my side because of the abuse. It was reported at a hospital that she admitted to being abusive, but I did not get any help from them. What can I do to??? The marriage filed because of her violent behavior.
the hospital visit was because she wanted to kill herself and asked me to admit her.

Possibly related posts: (automatically generated)

Would you recommend CPA or Tax Attorney?

Friday, March 19th, 2010
Young Grasshopper asked:

Would you suggest becoming a CPA or a Tax Attorney? What is the best education to pursue for each career?

Possibly related posts: (automatically generated)

Do I have to pay IRS taxes on settlement money I received in 2006?

Friday, March 19th, 2010
tax attorney irs settlement
joe f asked:


Back in 2006 I received 73,000.00 from a settlement before attorney fees, after which I recieved 43,000.00. In this type of settlement if my Mother would have been alive she would have recieved this money,but since she is deceased my sibblings and I are the next in line in the family tree to recive the money. My brother and I both called the IRS to discuss the 1099 form with them and we both recieved the same answer which was that “we were recooperating a loss and and it could be classified as an inheairatance” and that “we did not have to do anything”. She then explained the article and section # to support her answer that I neglected to document.
I had Jackson Hewitt prepare my tax return for 2006 and showed them my 1099 form I that I had recieved from the attorney.I also told them that I had spoke to an IRS person at the 1-800 number and told her what I was told by the IRS rep.
Now, I recieved a letter from the IRS saying I owe taxes.I felt confident I was filing my taxes correctly after speaking to an IRS rep. and having Jackson Hewitt prepare my taxes with all the documents in front of them.
My Question’s are: Did Jackson Hewitt fail to file a form with my tax return to report this non taxable income and was I given wrong information by the IRS rep.at the 1-800 number when I called?

Thanks

Intercepted tax refund question?

Friday, March 19th, 2010
texas tax attorney
NONAME asked:

My ex husbands tax refund got intercepted for owing back childsupport. Does anybody know how long that takes to hit my bank. I have direct deposit set up through the Texas Attorney General. Any info would be greatly appretiated.

Possibly related posts: (automatically generated)

Palin stole over $22k tax payer funds for travel expenses ?

Thursday, March 18th, 2010
washington tax attorney
stevetcolbert asked:

for her children ?

http://news.yahoo.com/s/ap/20081021/ap_on_el_pr/palin_family_travel#full

Do you believe her children were on “official state business”…or is that just an excuse ?

——————————
After Republican presidential nominee Sen. John McCain chose Palin his running mate and reporters asked for the records, Palin ordered changes to previously filed expense reports for her daughters’ travel.

In the amended reports, Palin added phrases such as “First Family attending” and “First Family invited” to explain the girls’ attendance.

“The governor said, ‘I want the purpose and the reason for this travel to be clear,’” said Linda Perez, state director of administrative services.

When Palin released her family’s tax records as part of her vice presidential campaign, some tax experts questioned why she did not report the children’s state travel reimbursements as income.

The Palins released a review by a Washington attorney who said state law allows the children’s travel expenses to be reimbursed and not taxed when they conduct official state business.

how does a 14 yr old, 17 yr old, and a 4 yr old conduct official state business ?
THIS isn’t about her children….this is about her using tax payer money for their travel expenses….

this is ILLEGAL….

what about that is so hard to understand ?

Possibly related posts: (automatically generated)

I am in need of a tax attorney to quit claim my home to my brother due to IRS tax implications 3 years ago?

Wednesday, March 17th, 2010
Julie W asked:

Does anyone have a tax attorney resource that could help in the Seattle Wa area?

Possibly related posts: (automatically generated)

Which state. Cont’d?

Tuesday, March 16th, 2010
south dakota tax attorney
adg_libra asked:

Maryland: If You Can Dream It, We Can Tax It

Massachusetts: Our Taxes Are Lower Than Sweden’s (For Most Tax Brackets)

Michigan: First Line Of Defense From The Canadians

Minnesota: 10,000 Lakes… And 10,000,000,000,000 Mosquitoes

Mississippi: Come And Feel Better About Your Own State

Missouri: Your Federal Flood Relief Tax Dollars At Work

Montana: Land Of The Big Sky, The Unabomber, Right-Wing Crazies, And Very
Little Else

Nebraska: Ask About Our State Motto Contest

Nevada: Hookers and Poker!

New Hampshire: Go Away And Leave Us Alone

New Jersey: You Want A ##$%##! Motto? I Got Yer ##$%##! Motto Right Here!

New Mexico: Lizards Make Excellent pets

New York: You Have The Right To Remain Silent, You Have The Right To An
Attorney….

North Carolina: Tobacco Is A Vegetable

North Dakota: We Really Are One Of The 50 States!

Ohio: At Least We’re Not Michigan

Oklahoma: Like The Play, Only No Singing

Oregon: Spotted Owl… It’s What’s For Dinner

Pennsylvania: Cook With Coal

Rhode Island: We’re Not REALLY An Island

South Carolina: Remember The Civil War? We Didn’t Actually Surrender

South Dakota: Closer Than North Dakota

Tennessee: The Educashun State

Texas: Si’ Hablo Ing’les

Utah: Our Jesus Is Better Than Your Jesus

Vermont: Yep

Virginia: Who Says Government Stiffs And Slackjaw Yokels Don’t Mix?

Washington: Help! We’re Overrun By Nerds And Slackers!

Washington, D.C.: Wanna Be Mayor?

West Virginia: One Big Happy Family… Really!

Wisconsin: Come Cut The Cheese

Wyoming: Where Men Are Men… and the sheep are scared

Possibly related posts: (automatically generated)

Search
Archive
SEO Powered by Platinum SEO from Techblissonline
SEO Powered by Platinum SEO from Techblissonline