My 87-year-old mother is receiving an inheritance of $260,000 and wants to split it 7 ways, including one share for herself and one for each of her six children. If she pays each of us kids a check, would we have to pay inheritance/gift tax?

June 29th, 2024

I am the administrator of my late sister's estate account, which holds corporate bonds. If the account is divided into two brokerage accounts for my sibling and myself without liquidating, will it be taxable?

May 13th, 2023

If I form an S corporation in Georgia (GA) with business operations in the state, does the S corp pay GA income tax, or do individual shareholders pay income tax? If I form an S corp in Delaware without doing business in the state but in other states, does the S corp pay Delaware income tax?

September 26th, 2023

As a US citizen with a controlled foreign corporation (CFC) in country X, what is the maximum percentage of the CFC's corporate income that can be allocated as US sourced before the IRS no longer considers the CFC a foreign corporation? Additionally, how can I legally account for US sourced income during my trips back to the US without affecting the CFC's status or generating Subpart F income?

May 27th, 2023

Can my dad give me $200,000 without either of us getting taxed on it? I need the money for a down payment and I earn over $250,000 per year.

March 2nd, 2023