Dale receives 15% of the net proceeds from the sale of the Trust house. The Trust receives 85% of the net proceeds. Besides closing costs and realtor fees, should the calculation for net proceeds include expenses of repairs and staging, and how does this affect Dale's share of any capital gains?

July 21st, 2023

Should I apply for Social Security benefits while I'm still working, or should I wait until I stop working?

March 28th, 2023

I formed a Multi Member LLC with another foreign national in Wyoming, and we are both aliens not residing in the US. We are filing the LLC's 1065 and wondering if we also need to file Form 5472 regarding foreign ownership in corporations and disregarded entities. Since we filed for LLC in Wyoming, membership information and the amount of members are not filed. Based on the IRS letter, I assume they classified us as a MMLLC, requesting the filing of Form 1065 by 3/15. The SS4 and 8821 forms state me as the 'responsible party' and 'member'. So, do we need to file Form 5472, or can I safely disregard this form?

September 7th, 2023

Is the statute of limitations definitive for state and federal taxes from 2013 for my dad who died in 2015, considering that my parents filed jointly and the home was placed in a revocable trust before his death, which later became irrevocable? I received a state FTB notice in my dad’s name for 2013 taxes, which were never filed. What are my options, and should I be concerned about identity theft or potential liability for my mom?

July 24th, 2024

I am trying to assess the prospective net pay post various taxes in Geneva - federal tax, canton tax, and social security contributions. For someone earning CHF100k per annum, would it be a reasonable estimation that the take-home pay is around 60%? Additionally, I have queries regarding wealth tax and rental income tax from UK properties if I become a Swiss tax resident.

April 15th, 2023