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Real Estate
Tax Planning: U.S.
Auditing
Nonprofit Law
Tax Law (Questions About Taxes)
Tax Planning
Recent Answers
2008-09-04
Nonprofit Law - donation refunds vs. in-kind distribution
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Donations may be returned to the donors in the form that they were given. Otherwise, it would be too complicated, and may result in private benefit to the donors if some assets were given to them. However...
2008-09-04
Tax Law (Questions About Taxes) - Tax liability for rental property disposal
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If it goes to foreclosure the liability would be based on the FMV as listed by the bank. This would be the sale price that the bank was able to obtain. I have seen a lot of these with very low FMV's...
2008-09-04
Tax Law (Questions About Taxes) - Tax liability for rental property disposal
:
If it goes to foreclosure the liability would be based on the FMV as listed by the bank. This would be the sale price that the bank was able to obtain. I have seen a lot of these with very low FMV's...
2008-09-04
Tax Law (Questions About Taxes) - Tax liability for rental property disposal
:
Tony, Thanks for your question. Based on the numbers you gave, you would have debt cancellation income of $140,000, receiving a 1099 from the bank for that amount. However, this will be treated...
2008-09-04
Tax Law (Questions About Taxes) - work location
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Jose, Review Form SS-8. It contains a list of about 20 criteria that determine if an employee is self-employed or an employee. Primarily, it is one of control. If you have a question about his proper...
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