asked
I have a Foreign Limited Liability Partnership (FLLP) whose partners are all foreigners. They plan to sell Canadian property and use the proceeds to buy residential rental real estate in the U.S. for around $1.2 million, contributing that to their WA State FLLP. Are there any thresholds, other than the TD 90 stuff, that would subject them to any special filings or reporting?
March 24th, 2023
Do we have to file state income tax in Indiana for my mother-in-law who is on Medicaid, in a nursing home with dementia in Indiana? She receives two small pensions, but Medicaid directs the expenditure of all her funds, leaving her a $52 per month allowance per Indiana Medicaid guidelines. My wife has her power of attorney. If the answer is 'yes', where do we get the money?
July 29th, 2024
Our incorporated homeowners association has not filed taxes for 11 years. We last filed an 1120-H in 2002. If we need to file back tax returns, would we have to file form 1120 instead of 1120-H? Could some of the member dues be considered capital contributions to the corporation rather than income? What is likely to happen if we file an 1120-H this year, and is the IRS likely to ask for the previous 11 years of returns?
October 4th, 2023
I receive spousal support from my ex-husband, but have never received a 1099 from the government for tax filing purposes. Am I required to file the spousal support funds as income? If so, why don't I receive anything telling me the totals for the prior year?
December 5th, 2023
I gave you the wrong info earlier. The IRA was my wife's. She only has one and I failed to have her make the withdrawal at 70 1/2 because I was not aware of it. She was 70 1/2 in 2011. What should we do now?
August 9th, 2024
I am a PR living in UAE, landed in Canada in May 2013, spent 10 days, then left again, and have been in the UAE since then. I am only planning to go back permanently in 2015. Do I still need to file a tax return in Canada, even though I am not currently living there?
September 12th, 2024