Capital Gains

I am 61 living in Florida and own a NY Commercial Bldg. I have a developer offering 1.5 Mil for it. I received it as part of my inheritance .

What would be the Tax liability on the sale. I am retired on SS Disability and the property is part of my trust (revocable)

Spouse owes IRS

My spouse is being charged with payment of back taxes and penalties prior to our marriage. This is the first year I will be filing married, filing separately. Am I required to provide his information on my tax return. I do not want to for fear of them seizing my return. Can they do this?

property tax exemption

Hello,I'm interested in finding out whether I have any chance of recovering money I paid in property taxes for the home I lived in for over two years.I just sold my home, and recently received a solicitation explaining that I could have been exempt from paying any taxes for all this time.I received an exemption notice, but I do not think the language was clear. I did not understand that the ''discount'' meant not paying anything, and also wasn't sure it applied to the taxes I was paying due to a conversation once with a county employee.He told me it didn't apply to my supplemental taxes, but that it might be of help to file the following year. He certainly didn't make it clear that I might not have to pay anything. Please tell me if I have any chance to recover this money!!!

Thank you for your time!

taxes

can taxes be discharged through

bankrupcy

941 taxes

My husband owned a business prior to out getting married. After we were married, we filed bankruptcy. Before we filed, the business was behind on paying the 941 taxes. I am now is the process of trying to transfer my parents' assets to my name due to nursing home care. We've been told that these taxes will not apply to me since they were his business taxes and he had the business before we were married. I really want to make sure that my name is in the clear on this before I put my parents' assets in my name. Can you help me?

Form for distributing IRA proceeds without tax consequences?

Is there a form for the distribution of an IRA on the demise of the owner that would minimise or eliminate taxes?

how do I protect wife

I was in auto accident and now aim now disable and got marriaged And the IRS wont to take her tax return and hold her responsible for my tax problem before we ward together.what can I do with getting a

divorce

Tax refund stolen

My wife had our joint refund didect deposited to an account without my signature. Is that legal? My sister in law does our taxes (CPA) does she have any liability for helping arrange this?

CPA Mistake

My CPA did not add my 2 incomes together on my taxes and now I owe money to the Fed. Is he liable for this mistake?

Possessory Interest Tax

Many people in my mobile home park have to pay the County of San Diego a tax of 1% of purchase value of our manufactured homes. I, personally, pay over $1,000 annually. We live on leased land owned by the City of San Diego. Since many of us are on limited incomes, this tax is extremely difficult to pay. I cannot afford to make any repairs on my home because of having to pay this tax. We would like to fight it but have no clue as to how we could do that and even if it is possible to fight unjust taxes like this one. Any suggestions would be more than welcome. Thank you.

tax invasion

If while married you didn't file your taxes right and have since gotten

divorced how can one party be held

liable for tax invasion and the other

party not -- taxes were filed married/jointly.

Life estate/capital gains

In 1999, house deed was changed to three siblings and mom having life estate. Mother moved to elderly housing 5 months ago - house being sold - who pays capital gain taxes on sale of house.

Quilification of a husband and wife LLC

Can the ownership of an LLC by husband and wife revocable trust considered a sole member LLC?

can someone go to jail

hello i need help can you tell me if someone can go to jail for not filking there taxes for five years.

deductibility of legal fees

Hi

I have incurred and paid legal fees stemming from a breach of contract lawsuit for income received in the year 2005. However, the lawsuit was not filed until 2006, and I am currently paying the legal fees in 2007. Because the lawsuit stemmed from business income in 2005, is the money i have paid in 2007 for legal/atty fees tax deductible, if so, is it deductible for 2005,2006, or 2007. I earned income from this consulting business in 2006 and 2005, but have not earned any in 2007. Your help is appreciated.

Income Tax

I obtained a job doing auto detailing back in feb of 2007, at that time it was paid to me without holding any taxes, by check, never was I informed or did i sign any agreement to be responsible to with hold my own taxes, I felt it was the owner's responsibility to get the tax id and such established so taxes would be taken out, now since the end of year is coming im given a w-9 and told im now responsible for all taxes going back to my hire date, keep in mind its a small business in a small town, by law am I personally responsible or should the owner have to pay those taxes up until the filling out of this w9 form?

Tax Question

I am employed as a answering service agent. This job allows me to take the calls from home it just requires a dedicated phone line high speed internet ect. Can I claim these on my taxes. My employer does not reimburse me for any of these fees.

International Money Gift - Consequences?

My relative in China (Chinese citizen) wants to give a money gift to me (approximately $100,000) to help purchase a home. What tax consequences does she have? What requirements are there? Would I have any tax consequences?

Income taxes

A woman I know has shared custody of her three children. In the divorce agreement she is to alter claiming two of the children on federal income taxes. This was her year to claim two of the children. Her ex has already filed his taxes and claimed two of the three children. What can be done because it wasn't his year?

child support enforcement levy

I, as a garnishee, am receiving Child Support Enforcement Levy notices from New York for a debtor, a contractor I hire on rare occasions, who lives in New York, but my business is incorporated in Illinois. Do I have to do the withholding or not? What if I don't do the withholding?