asked
I have 5 years of unfiled taxes for State (MN) and IRS. The state has filed returns and garnished wages for some of the returns. I'm estimating the balance to be approximately $60,000. What is the best course of action for me to clean up this mess? Should I file the returns and then file bankruptcy, or should I consider an offer in compromise?
July 13th, 2023
I will be working overseas for the next 9 months starting in December. What income tax will I have to pay?
August 12th, 2023
Are legal fees deductible that were incurred by a single member LLC in a startup business that never got off the ground due to a dispute with the other party who was supposed to market the business & its unique product in the real estate industry?
February 5th, 2024
I am the only beneficiary of my mother's estate who passed away in December 2017. The estate includes an overdue property tax from October 2017. I don't want the property, which is a small piece of land in a flood plain, and it won't sell. I am also the Power of Attorney for my mother. Am I liable for the property tax, and if I disinherit myself from the property, will I still owe the tax or be liable for future taxes?
August 17th, 2023
Can I use funds from my 401K to fund an LLC in FL to purchase a rental property in NC, and improve the property over the years? What tax advantages does this offer?
March 24th, 2024
New York State legalized same-sex marriage but the Federal government does not. My spouse and I will file separate tax returns for 2012. What status should we use in the tax form, Single for Federal and Married for NY State? Is it true that once married, both spouses will be responsible for each other’s debt, like credit cards, personal loans, etc., even if only one spouse’s name is on the loan?
November 23rd, 2024