Mike Wellman - Tax Planning - Tax Planning: U.S. - Real Estate

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Expert Profile: Mike Wellman

Expertise: I was a former Manager with Price Waterhouse, now PricewaterhouseCoopers, the largest accounting firm in the world. I have had clients in almost every industry and of every size. I will only answer questions dealing with IRS problems such as delinquent tax returns, Offers in Compromise (Tax Settlement), IRS collection matters including installment agreements, liens, levies, seizures, audits, appeals, innocent spouse claims and injured spouse claims. All others will be referred to the question pool.

Experience in the area
Over 25 years experience in taxation specializing in IRS collections, examinations and appeals.

Publications
New York Times, Wall Street Journal, You Money Magazine

Education/Credentials
BBA, Baylor University.

Awards and Honors
My website http://www.IRSOS.com won the Knowledgeweb award for educational excellence for content.

	View Past Answers	View Detailed Ratings

Average Ratings
Prestige Points: 400
Knowledge	9.92 Best of the best
Clarity of Response	9.69 Best of the best
Timeliness	10.0 Best of the best
Politeness	9.31 Excellent
Number Of Questions (in Past 24 Hours)		0
Max Questions to be Asked (in 24 Hour period)		5
Total Questions (since joining AllExperts)		77

Recent Reviews from Users

Knowl	Clarity	Time	Politeness	Date
10	10	10	10	06/25/08
10	10	10	10	01/24/08
10	10	10	10	01/09/08
10	10	10	10	01/02/08
10	10	10	10	12/20/07

User Comments

Thanks so much!!! I 'll be sure to check out your website
(Jodi on 06/25/08)

Not the answer that i wanted, but thats the law... Thank you
(Terry on 01/24/08)

Quick response and crisp answer. Thanks
(Jim on 01/09/08)

Very quick answer. thanks for info
(daryl porter on 01/02/08)

Great and very quick response. I will need to ask a follow-up question.
(Ray on 12/20/07)

View All Comments

	View Past Answers	View Detailed Ratings

Recent Answers from Mike Wellman

2008-06-25 Taxes: If he owes no tax, he will owe no penalties. If he does, he will have a failure to file penalty of 5% per month up to a max of 25%. He will have a failure to pay penalty of 1/2 per month up to a max of...

2008-01-08 Social Security Income: Your earnings will not affect her social security benefits. Her SS should be reported and portion of her earnings could be taxable. Without knowing what your earnings are, I can't be specific. If she files...

2007-12-19 Rental property & mortgage interest exp under joint co-owners: In order to deduct mortgage interest, the following conditions must be met: (1) You must own (or co-own) the property, (2) You must actually make the payments, and (3) You must be obligated on the...

2007-12-17 Real Estate Agency: An LLC will provide no significant tax benefits and will just add to your paperwork. A single member LLC files as a sole proprietor anyway so the income is reported on a Schedule C attached to your 1040...

2007-12-05 Tax Planning: First of all, the withdrawal will be subject to an immediate penalty of about $3,000. The tax depends on your marginal tax rate which could be 25% or more. So you should plan on 35%. Installment agreements...