My father, who is 98, made my sister and me joint tenants of his house, thinking it would be our inheritance. The house is now under a sale contract, and we want to avoid capital gains by giving all the proceeds to our father. He will then put the money in an account payable to us upon his death. Will the money we receive after his death be considered income or capital gains? Will it affect my Social Security and VA benefits?

November 18th, 2023

I have a matter in Illinois regarding sales tax. I manufacture a product sold mostly out of state and have also sold via the internet, mostly out of state. Over the last 5 years, I've had more in-state sales than I realized. Someone has filed a complaint with the IL Department of Revenue, leading to an audit and investigation. I know I will owe and am willing to pay. I'm worried about the enforcement posture and potential prosecution. I'm a one-man operation and have been lax in record-keeping but have not tried to hide or destroy anything. What should I expect, and how can I handle this situation?

August 22nd, 2023

When our mother died in 2011, she had a trust set up and the balance of her trust was divided equally among the three of us. My sister in Oregon does not have to pay taxes on this as it was under $100,000. Do I have to pay taxes in Idaho?

June 30th, 2024

I lost a deposit of $10,000 when I had to back out of a real estate purchase. Can I deduct that as a loss on my taxes?

May 12th, 2024

I challenged a will to my late sister's estate and had to hire an attorney. Are the fees charged to me deductible on my income tax form, especially since I received a portion of an IRA and would like to deduct the attorney fees to offset my tax liability?

September 3rd, 2024