Archive for October, 2008
Foreclosuing on 2nd home. What are the consequences other than Credit Score hit. Any Tax issues from I.R.S?
Help me asked: How long will it take to be back in good Credit Score range. My second home is in Lathrop Ca.
Canadian tax issues?
Mike W asked: I ‘m a Canadian Citizen. I live in China for about 4 years without work. I will start working in China next month. I have not file any tax information since I left Canada. What suggestions do you have for me? How do I go about doing taxes? I [...]
How does the tax deduction work for state and county transfer taxes?
Mike F asked: My wife and I are buying a new house in MD where the state and county transfer taxes will be about $8000. We are going to close in December this year, but will probably take a standard deduction. Can we deduct the property transfer tax even though we are [...]
Are there tax benefits if I get a business lisense for selling things on online auctions?
Jack asked: I’m thinking about turning my online selling into a business, and I’m trying to get a feel for the tax-related pros and cons of making it official.
Here are 2 questions:
(1) I understand that I can write off business expenses on my tax returns. That includes computer equipment, trips overseas to purchase [...]
Should there be a tax investigation on all prominent politicians?
MyOpinionOnly asked: In light of the recent discoveries of individuals in high positions not paying taxes, or having “tax issues”.
How come the US government can change tax laws over and over again during tax season?
Tamug01 asked: With certain tax law changes since the beginning of 2007, my CPA is having to correct my taxes several times. It doesn’t seem right that the govt can change tax laws several times during tax season. Other than “because they are the govt,” how come they can tamper with tax laws [...]
How could a carbon tax replace the income tax?
joesq asked: If the US wanted to finance the federal government entirely thru a carbon tax (or oil tax or gasoline tax), how high a tax rate would be needed to finance the government and replace the income tax and all other revenues? How much would that add to cost of a gallon [...]
Can the IRS garnish a wife’s paycheck for her new husband’s previous tax issues before the marriage?
Terri asked: I have a friend who is about to get married, and her fiance has some income tax issues with his previous spouse. They are garnishing his paycheck for past-due taxes. If they get married, can the IRS actually go after her paycheck as well?
Tax on joint interest income for couples living in different states?
Ikabob asked: I live in CA and my wife lives in NJ. We have a joint account with a CA credit union. Now CA only taxes the interest of CA residents. Since my wife’s non-CA income also contributes to this interest, how should I split it for tax purposes?
what are the legal issues pertaining domestic partnership in california when tax season comes?
R r asked: with tax season approaching in california what are some of the tax laws that will pertain to domestic partnership?
