My house sold earlier this month. I am not buying a new house right away, but... maybe? How long can I wait? How will this affect taxes? And if I could buy property, should I in order to avoid penalties (if there are any)? You are not my lawyer or my accountant, but way more details with a little bit of drama after the jump. [more inside]
posted by aabbbiee on Jun 28, 2012 - 10 answers

I'm inheriting $100,000. My parents are inheriting a lot more (around $1mil, but we're not sure the exact amount). Please give us advice. We're in the US (New Mexico). [more inside]
posted by Harry Potter and the Puppet of Sock on Jan 30, 2012 - 26 answers

As a US citizen, living and working abroad for many years, I recently heard of a new law that I must file tax returns on the US by Aug 31, 2011 or face a penalty. Anyone know about this? If US citizens live and pay taxes abroad, they generally are exempt up to $91,500.
posted by foxinsocks on Aug 27, 2011 - 9 answers

I'd been wanting to form a corporaton for a long time. So many benefits it seems:

track business expenses for income-tax deductions

protect assets against law-suits

gain credibility for certain transactions

privacy

But all the gory details are getting me down... [more inside]
posted by markhu on Jul 18, 2011 - 20 answers

My dad passed away this year and my mom has very generously decided to gift the house to my sister and I rather than. The house is in Canada, I live in the U.S. (Permanent residence). My sister and brother in law bought my half of the house when the mortgage was due (approximately April 1st) so I now suddenly have a 6 digit lump sum of cash in a Canadian account. I have not signed anything yet. I want to protect this from taxation, I also don't want to jeopardize my permanent residence status or potential citizenship. I know I need a lawyer, but what kind and how do I find a good one? I am in Wisconsin, particularly Eau Claire since that's probably important.
posted by substrate on Apr 23, 2010 - 13 answers

Need a good tax preparer and other income tax resources for a Canadian living in the US who is both a student and self-employed; this tax situation is not simple and he needs someone competent in both US and Canadian tax law and the relevant tax treaties. [more inside]
posted by slow graffiti on Mar 5, 2010 - 4 answers

Starting a Non-Profit... Where to start? [more inside]
posted by weiler63 on Jan 10, 2010 - 8 answers

LLC for a (now) profitable writer/actor team? [more inside]
posted by 2003girl on Jan 6, 2010 - 3 answers

Last year I got most of my income for working from home in the state of Virginia. I did work for a company that is not owned by me and was located in another town in Virginia. I got a 1099 as an individual from the company for the work that I did. This work was all conducted by phone and email, no one came to my home. I recently got a letter in the mail from the City of Winchester, VA saying that I did not register as a business in the city and that I needed to pay back licensing fees. I know you're not my lawyer, but do I have to do this?
posted by jefeweiss on Nov 6, 2009 - 13 answers

Stupid question filter : "There is no law that requires U.S. citizens to pay income tax" Is this true? Can anyone site the Law? [more inside]
posted by nola on Apr 27, 2009 - 33 answers

I spend roughly 90% of my life on the road for business. This poses a couple of personal problems. Does anyone have some suggestions? [more inside]
posted by converge on Oct 4, 2005 - 11 answers