Recent content by Tax Counsel

Yes, that would help cut the expenses. DC is certainly not as expensive as living in Manhattan. The TV show "Friends" was terrific, but painted an unrealistic picture of affordability with 6 young people, most of whom weren't pulling in a lot of money, getting to live in the nice large...

Although IRC § 2036 does mention trusts, it is not common to transfer a piece of property to a trust with a reservation of a life estate. You certainly wouldn't do it for tax purposes. A revocable living trust would accomplish the same tax result and provide more flexibility to the grantor than...

Correction: Congress doesn't make it easy. All the rules for dependents are set out in Internal Revenue Code (IRC) section 152. The rule is a bit complicated because when the rule was simple a lot of people abused it, so Congress tightened the rules to stop that abuse.

In order for him to qualify as your dependent under the qualifying child test for federal income tax purposes, all of the following conditions must be met: (a) the relationship condition is met because he's your son. (b) your home must have been his principal place of residence for more than...

The answer to that question depends on exactly what the trust terms are and how the property was used after it was put into trust. I don't have any of that information and therefore cannot give you a specific answer. Typically, once an asset is placed into an irrevocable trust, it won't get the...

I think there's a distinct possibilty of that. If the leader knows that he may well lose the legal fight on keeping these White only communities they may well get ready for a seige mentality expecting law enforcement to come in and arrest them. These sorts are whackos, unstable and nuts enough...

The founder of this group has a poor grasp of the law and my bet is he never consulted a business lawyer before he went out all fired up about this. Furthermore, it's likely that he got these ideas off some fringe web site promoting ideas like sovereign citizen, foreign citizen, lack of...

Naturally, the T&C would be important. However, it strikes me as unusual that the sales platform would agree that there was fraud but not refund the money the buyer paid. It would be a perverse system if the sales platform keeps the money, leaves its customer with the claimed defective item, and...

That will depend a great deal on the contract you have with Vinted. The site may refer to that contract as its terms of service. Read it carefully to determine how these situations are handled. If both you and the buyer are in the U.S. you likely may sue the buyer directly if Vinted won't issue...

The general rule for the Form 706 is that it must be filed within 9 months of the date of death or have the extension for the return filed by that date. If the extension is sent by mail, the USPS postmark date is the date that the extension is filed. However, if the return was not required to...

Bear in mind that rates for competitive services, like priority mail, are not subject to rate limits set by the Postal Regulatory Commission (PRC). The USPS merely needs to advise the PRC and the public prior to the rate change. The services that the USPS must get approval from the PRC are...

What is your goal? Are you paying child support and want that support obligation terminated? Is the mother pursuing a paternity case and child support? Is there any court order mandating you do anything with regard to the kids? Do you want to cut off the possibility they will pursue a claim on...

My thoughts are when driving any vehicle in the U.S. make sure that (1) the car is properly registered, you have the proper sticker on the license plate for it, and that you have a copy of the current registration with you; (2) you have current driver's license from your state of residence and...

You haven't told us any facts so there's not much anyone here can give you b way of advice. All you've said in terms of facts is that you expected to receive a package from the UK about a year ago. You've said that you don't know the value of the package, but think it's worth between $1million...

No. You don't have business. You co-own property together. Just having a LLC doesn't mean you need to file a Schedule C or a partnership return.