I am selling a home that was my father's, who passed away, and I am the beneficiary of the TOD deed. I am selling the home to distribute gains to my brothers. There will be no gain on the sale, and it will be appraised at the selling price. Do I have to pay the 3 1/3% FTB California tax or should I submit a 593-C form?

October 13th, 2023

I'm selling a house that is in a trust, which was my grandmother's (the grantor) and has been our primary residence since 2012. My wife is the trustee, and I am the beneficiary. I want to take advantage of the capital gains exclusion for the sale of this home under $500K. Should my wife quitclaim deed the house to me before the sale to avoid capital gains tax, or can she sell it as the trustee and pass the profit to me as the beneficiary? What are the tax implications for both scenarios?

July 30th, 2024

As an NJ-based Amazon seller, I need to understand the tax requirements for sales in Kansas. Specifically, I'm unsure whether I need to register for the Retailers' Sales Tax or the Retailers' Compensating Use Tax, as these are separate in Kansas but combined in NJ. Can you confirm which one I need to sign up for?

July 14th, 2023

Can my LLC cover a partner's car payment and use it as an expense against taxable business profit since the car is used mostly for business?

January 20th, 2023

I am distributing rental property assets from an estate to a trust. How do I dispose of the assets from the estate?

July 7th, 2023