I live in NJ and have a second home in NY that I use on weekends. I am selling this property for $645K, acquired in 2021 for $400K, with $10K spent on improvements. Do I have to pay taxes as a non-resident for the full gain amount, and how are closing fees treated?

October 26th, 2023

I’m planning to donate money to the Shawtown High School Alumni Association, a 501(c)3 nonprofit organization. I want to know their standing with the IRS, including their filing status and the use of Form 990 for yearly filings. Additionally, I’m concerned about the organization’s failure to provide members with proper IRS forms to claim their donations as tax-exempt.

May 21st, 2024

My mother recently died and I handled all her bills, including paying her federal taxes. We moved her from Florida to Illinois three years ago. I never considered paying Illinois state taxes for her because she had no earned income or property in Illinois, and all her banking was in Florida. Now, I'm questioning whether I should have paid Illinois state taxes for the years 2016, 2017, and 2018. Additionally, my mother had a trust established in Florida, and I'm unsure if the State of Illinois is entitled to any taxes from her trust.

January 14th, 2024

I have formed two LLCs in Kentucky but plan to operate and do business in Texas. What are the implications of this, and what steps should I take regarding registration and renewal of the registered agent?

September 30th, 2024

I want to take out prescription coverage and was told I need to get Medicare Part D, which I don't have, and there is a penalty. I am now 72 years old (DOB 10/12/1948). What is my penalty in dollars and cents?

August 20th, 2023