As a Florida company planning a special event in NYC in March, do I need to collect NYC/State taxes on the event if I am not selling any tangible personal property but organizing activities and paying taxes on the venue and services I contract for?

August 26th, 2024

If someone in my family dies and leaves me their house and $150,000 in a safe, and I loan this money to a friend who is now going through a divorce without good proof of spending, am I at risk of the IRS coming after me for this money? Is there a maximum amount I could inherit this way and be safe? What are my risks in court and with the IRS?

November 27th, 2024

I own a travel company in Costa Rica and need to accept credit cards from my customers. I can only do this through PayPal, which requires transferring funds to a US bank account before wiring them to my Costa Rican business account. Is this legal, and how will the money passing through my personal US bank account be treated tax-wise? How should it be reported to the IRS, and will this activity raise red flags with my personal income tax filings? If this is prohibitively expensive, do you have recommendations for a different structure to accept credit cards?

November 30th, 2023

I am moving from Florida to Pennsylvania, specifically around Philadelphia. What are the tax amounts and is there a significant difference in taxes between the two locations?

October 16th, 2023

I own 3 houses. My primary home has mortgages over $1.1M, which is the limit on deductible interest. I purchased the other 2 houses originally as primary and secondary homes while living overseas, and my divorced parents lived in each of the houses. When I returned, I purchased my current house and used up all the mortgage deduction. Are there any deductions I could use (such as investment interest) on these other 2 homes?

February 22nd, 2023