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Recent Legal Answers
If you filed separately, you are not liable for his taxes for those periods.
The protection of liability issue will depends to the type of assets which will be transferred to the LLC, the way you set-up the LLC and whether you... Read Answer
If you file a joint return, you can benefit from his personal exemption and the better brackets that apply to married couple. You can file jointly... Read Answer
You can take a deduction for every ordinary and necessary business expense. Health insurance is one of them.
Depending on the circumstances, the company paying the expenses should be able to deduct them. If you work with a 501(c)(3) charity some of your out... Read Answer
Property taxes, delinquent or otherwise, are the responsibility of the current owner of the real estate. If the living trust is no longer the owner,... Read Answer
The amount is too small to generate a gift tax. Their annual gift exclusion is $13,000 each. Then they have lifetime gift exclusions of $5,000,000... Read Answer
Absolutely. The only problem is that the assets of each business would be subject to the liabilities of the other.
If you file a joint tax return that doesn't report your wife's income you (and she) are guilty of a crime. If you file separate returns and your... Read Answer