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Strohmeyer Law PLLC
United States
Приєднався 6 січ 2020
Strohmeyer Law PLLC guides clients through the maze of estate planning, tax, & probate law to help them leave No Unfinished Business® here in Houston, Texas. Planning your estate and other end-of-life matters can be a murky and intimidating project-even if you don’t live in a mansion and own seven Porsches.
Required legalese: These videos address general principles of law in Texas and are for educational purposes only. Nothing provided by this channel should be construed as legal advice or a substitute for legal advice for you. Initiating contact in any way with Strohmeyer Law PLLC, including but not limited to watching this video, asking a question by commenting on this video, starting a chat, or submitting a contact form, doesn't create an attorney-client relationship.
Don’t rely on a video on UA-cam-it doesn’t address the particulars of your situation. If things can get complex, get help from a competent professional licensed where you are.
Required legalese: These videos address general principles of law in Texas and are for educational purposes only. Nothing provided by this channel should be construed as legal advice or a substitute for legal advice for you. Initiating contact in any way with Strohmeyer Law PLLC, including but not limited to watching this video, asking a question by commenting on this video, starting a chat, or submitting a contact form, doesn't create an attorney-client relationship.
Don’t rely on a video on UA-cam-it doesn’t address the particulars of your situation. If things can get complex, get help from a competent professional licensed where you are.
Picking Your Estate Planning Team: Executors, Trustees, and Agents
Putting your state plan together is more than just drafting a will and making sure you know where your assets are.
You also need to pick the people who are going to be making decisions for you if you lose capacity as well as the people who will be in charge after you’re gone. So what should you be thinking about When you pick the people for your estate planning team?
Subscribe for more insights and tips!
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Strohmeyer Law is a law firm based in Houston, Texas, specializing in tax law, estate planning, and probate law.
Nothing in this video is specific legal advice for you. Watching or commenting on this video doesn't create an attorney-client relationship.
🔗 For more information, visit: www.strohmeyerlaw.com
You also need to pick the people who are going to be making decisions for you if you lose capacity as well as the people who will be in charge after you’re gone. So what should you be thinking about When you pick the people for your estate planning team?
Subscribe for more insights and tips!
---------
Strohmeyer Law is a law firm based in Houston, Texas, specializing in tax law, estate planning, and probate law.
Nothing in this video is specific legal advice for you. Watching or commenting on this video doesn't create an attorney-client relationship.
🔗 For more information, visit: www.strohmeyerlaw.com
Переглядів: 134
Відео
Minimizing Guardianship Headaches in Texas
Переглядів 39Місяць тому
While nobody wants to be involved in a guardianship, because it involves removing the rights of someone and giving them to another person, sometimes it is necessary. In those cases where a guardianship is necessary, what can you do to minimize those headaches? Subscribe for more insights and tips! Strohmeyer Law is a law firm based in Houston, Texas, specializing in tax law, estate planning, an...
Should you put your assets in an LLC?
Переглядів 82Місяць тому
You’ve probably heard that you can protect yourself from creditors by placing your assets in an LLC. But does this actually help you do anything? In this video we’ll talk about what that entails, as well as the costs involved in putting your assets in an LLC. The short version is it probably won’t do a whole lot to protect you from creditors because the protection of an LLC only kicks in after ...
The Corporate Transparency Act and Terminated Entities
Переглядів 176Місяць тому
The corporate transparency act applies to a lot of entities, including entities that may have already terminated. In this video, will address a few situations about entities that may still need to report, even though they have terminated their formal existence. Subscribe for more insights and tips! Strohmeyer Law is a law firm based in Houston, Texas, specializing in tax law, estate planning, a...
Do entities terminated before January 1, 2024, have to comply with the Corporate Transparency Act?
Переглядів 65Місяць тому
The corporate transparency act went into effect on January 1, 2024. In many cases, an entity that was formally terminated before that date does not need to comply with the act. But that’s not the end of the answer. If the entity was terminated, informally, or administratively for failure to file returns, then it probably still needs to file its beneficial ownership information as part of formal...
Corporate Transparency Act: What if an entity terminates before the initial report is due?
Переглядів 130Місяць тому
The corporate transparency act went into effect on January 1, 2024. For entities that formed in 2024, the initial beneficial ownership information report is due by within 90 days of formation. For entities formed before 2024, the initial report is due by January 1, 2025. If an entity is formed in 2024, but terminates its existence before that 90 day filing time is up, does it need to file a rep...
Estate Attorney Explains What To Think About If You Win the Lottery
Переглядів 61Місяць тому
If you hit a Powerball or other lottery, life will end up changing pretty quickly. In this video, we'll address what you should be thinking if your numbers come up! In short, you'll have more than just taxes to think about you'll also need to think through security issues and privacy issues as well. Subscribe for more insights and tips! Strohmeyer Law is a law firm based in Houston, Texas, spec...
Attorney Explains Non-Grantor Irrevocable Complex Discretionary Spendthrift Trust under IRC § 643
Переглядів 4332 місяці тому
If you spend any time looking to reduce your income tax burden, you'll probably come across the Non-Grantor Irrevocable Complex Discretionary Spendthrift Trust under Internal Revenue Code § 643. But despite all the hype, this is not a strategy that will actually reduce your income taxes. Even worse, it could cause more problems for you.
The 2025 Estate Tax Exemption Sunset: Estate Planning Attorney Explains
Переглядів 2692 місяці тому
In 2026, the estate tax exemption amount will be reduced to $5 million per person and adjusted for inflation. We don’t know the exact amount, but we think it’ll be about $7.25 million per person. What should you be considering as part of your planning? The estate tax exemption amount is $13.61 million per person in 2024. This is annually adjusted for inflation and is expected to increase in 202...
Who Is In Charge of Your Estate?
Переглядів 2944 місяці тому
When someone passes away, one big question to answer is "who is in charge?" When you plan your estate, you'll pick your agents under your powers of attorney, executors, trustees, and guardians. It's important to pick the right people to assist you!. Subscribe for more insights and tips! Strohmeyer Law is a law firm based in Houston, Texas, specializing in tax law, estate planning, and probate l...
Estate Planning: Can your family find your stuff?
Переглядів 2016 місяців тому
At first gasp (and while preparing for your last), estate planning seems pretty simple. Make a list of your stuff. Then decide who gets it. Boom, you’re done. Time to party! 🥳 But wait. Once you’re no longer partying in the mortal realm, how will your loved ones know WHERE all your stuff is, or how to find it? In this video, will help you get over the hurdle of creating a list to help your fami...
Grantor Trust Taxation: What Does It Mean?
Переглядів 5366 місяців тому
Trust can be very confusing, and they can get even more confusing when you start talking about how they pay income tax. There are options for trust to be treated as separate taxpayers, but one of the best ways to leverage a gift to someone else is to have the trust tax as a grantor trust. This video will discuss the ramifications and what needs to happen if someone other than the trustee is res...
Getting Quiet Acceptance of Your Appraisals
Переглядів 1517 місяців тому
We're joined by Evan Levine and Nainesh Shah to discuss appraisals. Many times, the key to getting a good result, whether with the IRS or in a business deal, starts with having an appraisal that everyone can rely on. What we're looking to achieve is "quiet acceptance" having the other side realize that you've done your work and they don't have any questions about how you achieved your valuation...
Corporate Transparency Act (CTA) Declared Unconstitutional!
Переглядів 1,4 тис.9 місяців тому
On March 1, 2024, a federal district court in the Northern District of Alabama entered a final declaratory judgment, and ruled that the Corporate Transparency Act (CTA) exceeds the limits on Congress’s power provided under Article I of the Constitution. Further, the court enjoined the Department of the Treasury and FinCEN from enforcing the Corporate Transparency Act against the plaintiffs. The...
How should Series LLCs report under the Corporate Transparency Act?
Переглядів 1,1 тис.9 місяців тому
Protected Series (pre-June 1, 2022) • Each series was only created by a resolution and probably by filing a DBA with the Secretary of State. As a result, the each series seems to be just a different name for the original entity that was filed with the Secretary of State. • So I would default to using a single filing for this type of series, adding each series as a DBA for that entity. • But if ...
Community Property and the Corporate Transparency Act
Переглядів 4819 місяців тому
Community Property and the Corporate Transparency Act
Reporting Corporate Trustees of Reporting Companies for the Corporate Transparency Act
Переглядів 5559 місяців тому
Reporting Corporate Trustees of Reporting Companies for the Corporate Transparency Act
Tax-Exempt Entities and the Corporate Transparency Act
Переглядів 4819 місяців тому
Tax-Exempt Entities and the Corporate Transparency Act
Who is the Company Applicant for the Corporate Transparency Act?
Переглядів 1,2 тис.9 місяців тому
Who is the Company Applicant for the Corporate Transparency Act?
When do I need to file an updated BOI Report for the Corporate Transparency Act?
Переглядів 4839 місяців тому
When do I need to file an updated BOI Report for the Corporate Transparency Act?
What if a foreign entity owns a Reporting Company for the Corporate Transparency Act?
Переглядів 1619 місяців тому
What if a foreign entity owns a Reporting Company for the Corporate Transparency Act?
How can you report multiple tiers of entity ownership for the Corporate Transparency Act?
Переглядів 5709 місяців тому
How can you report multiple tiers of entity ownership for the Corporate Transparency Act?
Trustees, Grantors, and Trust Beneficiaries and the Corporate Transparency Act
Переглядів 6909 місяців тому
Trustees, Grantors, and Trust Beneficiaries and the Corporate Transparency Act
What happens if a Reporting Company is later exempt from the Corporate Transparency Act?
Переглядів 1989 місяців тому
What happens if a Reporting Company is later exempt from the Corporate Transparency Act?
Who are the Beneficial Owners of a Trust for the Corporate Transparency Act?
Переглядів 1,8 тис.9 місяців тому
Who are the Beneficial Owners of a Trust for the Corporate Transparency Act?
Is a Trust a Reporting Company for the Corporate Transparency Act?
Переглядів 6559 місяців тому
Is a Trust a Reporting Company for the Corporate Transparency Act?
Getting a FinCEN ID for Individuals and Entities
Переглядів 7 тис.9 місяців тому
Getting a FinCEN ID for Individuals and Entities
What Is a Power of Appointment in Trust Law?
Переглядів 1,6 тис.10 місяців тому
What Is a Power of Appointment in Trust Law?
Corporate Transparency Act: How to Get a FinCEN Identifier Number (Audio Enhanced)
Переглядів 3,2 тис.10 місяців тому
Corporate Transparency Act: How to Get a FinCEN Identifier Number (Audio Enhanced)
Corporate Transparency Act: How to File Beneficial Ownership Information Report (Audio Enhanced)
Переглядів 8 тис.10 місяців тому
Corporate Transparency Act: How to File Beneficial Ownership Information Report (Audio Enhanced)
Omg.. this was so so helpful.. even though I’m in Ohio.. I finally have a next step .. thank you so very much!!!
You’re welcome!
Its pending
Yes, the appeal is pending.
Great video. Where can someone find more information on tax codes?
Cornell Law School has the Internal Revenue Code available online.
I been trying to get my share from my father will for two years now my sister wont give me what my father left for me my other brothers and sisters got i didn't also i been trying all of them lawyers website and nothing they keep telling me i will call you back and dont this is bs my lord where is the help this is crazy 😮
That’s tough to hear. People shouldn’t be doing things like that. You’ll need to work with your own advisors to resolve this situation.
There is zero consumer support for fincen. The 703 number has been dissolved and folded into a 1-800 number that does not answer. Don't bother sending an email ticket requesting assistance because they'll just direct you to the website. You know for an organization that has the authority to fine you over $500 a day you would think they would be required by law to provide some sort of verification of your successful registration other than an email response to automatically generated. The only way you can check is by their database which allegedly only updates every several weeks. It's an absolute disgrace joke of an organization with pathetic consumer assistance.
If you are the preparer of the tax return but do not handle all of the partners individual returns do you file the BOI for all shareholders/members or just the one I file 1040s for? I dont want to be liable for info that I do not do tax returns for.
The BOI report is only filed for each entity. Individual beneficial owners do not file an individual report like they would with an individual tax return. You will need to consult your own counsel regarding your obligations for your clients. Unfortunately, we cannot provide this sort of specific answer here on UA-cam for you.
how do you report on the boi when a s corp ownes multiple smlllc? Do you file one boi for the corp and include the smllc or do you file each boi for a smllc?
You will need to consult your own advisors regarding the specific circumstances you are describing. Unfortunately, we cannot provide specific answers here on UA-cam for you.
can this be done on a pdf form or fax in faxed form? for one small condo an elderly owner who is NON English speaker, it be most helpful.
There is a PDF upload available, but no fax filing. Please work with your own advisors to get specific information about your circumstances.
What about state Probation..
That’s a very different problem!
Hi, thank you for such helpful information. Could you please tell me how should I file BOI if my reporting company has 2 members:I (TX resident) and another company of mine which is a non-US company but has a US TIN and where I am the 100% owner? Should I list myself twice at beneficial owners? Should I report the foreign company separately? Thank you.
I’m sorry, but we cannot give specific advice or recommendations like that on UA-cam. You will need to work with your own advisors to determine the proper course of action for your specific circumstances.
This was super helpful.Thank you!
You are welcome!
Hello, is this video in regard to the new rules FinCEN has just released last month (Oct.3 2024) ? D. Beneficial Owner • Community Property (D18) Can these same rules be applied to this change ?
No, this video was released in March 2024 so it doesn’t address the guidance that was released in October 2024.
@@strohmeyerlawpllc Thank you so much for responding! Is there any chance you would be making a new video explaining some of the updates they made? Your videos have helped a lot.
Question is the identifying doc id # your state id or DL or tribal number?
Generally speaking, they are looking for a state issued ID number with your photo on it. Make sure you are using that ID. There are a few different options, and we can’t tell you exactly based on a comment here in UA-cam.
If I make a correction or update the report and check box 3, can I receive form Fincen Id entity?
Reporting companies may request a FinCEN identifier by checking a box on the beneficial ownership information report when they submit the report. After the reporting company submits the report, the reporting company will immediately receive a FinCEN identifier unique to that company. If a reporting company wishes to request a FinCEN identifier after submitting its initial beneficial ownership report, it may submit an updated beneficial ownership information report requesting a FinCEN identifier, even if the company does not otherwise need to update its information
Sounds like you found the answer!
@@johanaalvarez6850 Where did you see the new FinCEN ID for the company after submitting the updated BOI report? I have done this but cannot find the FinCEN ID.
Great video there
Thank you!
Can you file with Safari?
I am unaware of any restrictions on the browser. We don’t use Safari, so we have no experience with it.
What if single member LLC ( Status Inactive) Since May 2023. Virginia
Unless an exception applies, then a BOI report will need to be filed. You will need to work with your own advisors regarding your specific situation.
Awesome video, new subscriber
Thank you!
Great explanation 👌. Thank you. GBY!
You’re welcome!
I understand sole proprietorships, do NOT need to report. Please correct me if that's wrong.
You will need to work with your own advisors on your specific situation. Generally, only entities formed with the Secretary of State or similar office are potentially subject to reporting.
thank you was fast and easy as you said
You’re welcome!
Would a clause for life use for the parents that have real estate in an irrevocable trust be enough to keep the properties in the gross taxable estate at death and keep the step up in basis? Or would you also need some limited power of appointment over the properties in the trust?
Neither one will automatically trigger estate inclusion, and may trigger other tax consequences. You’ll need to work with your own advisor to determine a solution for your specific circumstances.
I thought you said at 6:41 if assets are still being used for your benefit even though they are in an irrevocable trust you would still get step up? Wouldn’t life use be considered being used for your benefit?
Do you do the estate planning for nevada resident too?
We would love to help you, but unfortunately do not practice there. Please contact someone licensed to practice in Nevada.
Our company was formed over 15 years ago. do i need to go back and find out which attorney originally filed the formation documents or can I consider myself the company applicant? I am the one who currently files our annual reports with the sate
Company applicant information is not generally required for entities formed or registered to do business before 1/1/24. You’ll need to work with your own advisors to confirm this applies to your situation.
I've answered my own question. If the company was formed before Jan 2024, I am not required to list the company applicant
if the beneficial owner is a foreign entity, how to fill out the beneficial owner portion
The beneficial owners are individuals, so having a foreign entity owner doesn’t change the obligation. This applies even if the individuals are not US citizens or residents. You’ll need to work with your own advisors to determine who those individuals are.
I did not see anything in the Identifier application or BOIR that stipulated the % of actual beneficial ownership or title (i.e. member, partner, shareholder, manager, office, etc.). Isn't that the main purpose of collecting this data?
That’s correct that you don’t need to identify the percentage ownership or the actual title. The purpose of this requirement is to identify those people who are connected to the entity. It’s similar to the Know Your Customer regulations that financial institutions are subject to when opening new accounts. The financial institutions need to know who is connected to the account and not concerned with why they’re connected.
@@strohmeyerlawpllc So, a secretary or manager that doesn't necessarily have any actual ownership could submit the report?
@ there’s no requirement that a person have an ownership interest to be able to file the report for a company.
So, where is the Fincen application for entities? I only see it for individuals.
An entity can get its own FinCEN id as part of filing the BOIR.
@@strohmeyerlawpllc So, there isn't a separate online application like there is for individuals?
@@OperationsManager-j5u correct-it’s part of completing the BOIR.
Maybe I'm weird for getting hung up on all the politics of this but why now? Are politicians going to follow these same rules? Seems sus to me.
This is in line with other anti-money laundering requirements. It was passed into law at the end of 2020, and the proposed regulations started coming out in 2021 or 2022.
How do you calculate the fair market value for inherited land?
Absent a sale to an unrelated person, an appraisal from a professional appraiser who focuses on real estate would be the best way.
Could u help me find a probate attorney in missouri to help me save my inheritance bc uts being robbed by executor and i have proof? Ive been trying for almost a year to hire one but to no avail. Im running out of time. Can you please help?
Check for an attorney at ACTEC.org. We’re not licensed in Missouri, so we can’t help you there.
Ive been trying to hire an attorney for almost a year. Ive contacted all these law sites and still havent been able to get one to go to court with me to fight for my inheritance that the executor is embezzling and reduced to less then half its value and keeping me out if everything stonewalling. What can i do? We're 2 years in now and i need an attorney. I have went through everything and found huge discrepancies that are 100s of thousands of dollors worth. Shes lied about the values of classic cars rare ones worth over 150,000 saying they don't run and are scrap junk. Yet i have many photos of beautiful showroom quility cars. And got pics of her husband driving the main one in question a nova 2 mint. He collected around 300 cars and probably 500 fire arms. She admitted to selling firearms with their auctioneer buddy under the table. Thats highly illegal and thousands upon thousands of dollars robbed from my portion. I need a lawyer bad. Can u help me find one? Please
Check for an attorney at ACTEC.org. We’re not licensed in Missouri, so we can’t help you there.
Does a single operator S Corp that does well under $5mm need to report?
You’ll need to work with your own advisors on your specific circumstances, and you haven’t mentioned anything that would exempt your entity from reporting.
The functional differentiator should be whether they are being used by the same ownership group to compartmentalize liability only (i.e., a fixed real estate investment group that is spinning up a new LLC for each shopping mall / rental property / etc. as the portfolio grows) or if they are being used to raise capital from varied sources (i.e., investor group in Series 1 LLC differs from investor group in Series 2 LLC ... this is what would be the case of series LLC's used as securitization vehicles). Problem is FinCEN hasn't come out and said this, so Joe Smith, who owns and rents 12 condos in seperate Series LLC's and bought into the idea because it saved him some paperwork, now has to be advised that there is risk in filing only one BOI report.
It would be great if FinCEN would provide guidance on this.
Your Pro, Thanks for your Generous Help, May God bless you! it was very helpful!
Glad it helped!
If an entity submitted their BOIR but forgot to select Box 3 (to obtain a FinCEN ID for the entity), is there another way to request one?
Not that we are aware of. 🤷♂️
don kilan going to jail 🤣
His stuff is not based in this reality. 😂
Man this more Biden shit 🤦🏿 man I’m pushing for Trump
This was enacted while Trump was president.
Partial usually means control over all money by the "guardian",
This is correct, though when the ward has the ability to manage funds, they can be given access and control over some amounts.
Isn't life insurance death benefit not taxable?
Life insurance is generally not subject to income tax when received (exceptions apply). But the proceeds are generally included in the gross estate, and thus subject to estate tax, unless there’s specific planning in place. You’ll need to work with your own advisors on your specific circumstances.
The trustee, my sister, had all of us agree to hiring an attorney to assist in handling my father's estate (Claifornia) for which I am a beneficiary. I asked my sister for a copy of the estate plan, in case there were any updates I didn't have. She asked me what I had, which is nothing. She asked if I had a secure email. She told me there is no document called an estate plan, only various trusts. I decided to ask the lawyer to send me copies when I felt she was stonewalling me. She then told me that I didn't have the authorization to ask the attorney a question, only she does. Is this true?
It’s possible that the attorney will not respond to you at all because you are not their client. That said, you may want to have your own attorney review the situation with you to determine what is happening.
Does a Grantor Trust where the grantor pays taxes on the trust during his lifetime get step-up basis benefits after the grantor dies ?
It will depend on the trust agreement because paying the income tax on the trust as the grantor is not the test for getting a basis step-up. It's possible to set up grantor trusts that either do get the basis step-up or don't get the basis step-up. You'll need to work with your own advisors to get an answer for your specific situation.
@@strohmeyerlawpllc Thank you for answering the question. Would love to see you do a video showing what is the test for a Grantor Trust. I wonder if one of the test for step-up basis might be the revocability of the trust?
If as a beneficiary you feel like the administrator or the executor left you out, you always can go at the court and ask for updates, you as beneficiary are actually the superviser of the executor or administrator, you are entitled to updates in regards banking accounts, inventory. The estate has to have a separate account where all the cut is coming to be shared. Within a probate there is 3 months maximum of the distribution to be done after the property is sold. If the administrator or the executor is not collaborating, under your supervision, then you order the judge to supervise the administrator or you even can contest the executor for the lack of transparency. There are specific steps in a probate must be taken and at any time you can contest if a move is not properly done. To be a beneficiary is easy because you are the receiver after someone else had to get trough some mess on their bone to get legally done for selling a property. If you do not receive your cut, under the probate thats your safe spot, probates are designed so beneficiaries can safely get their cut according the law. This probate cannot be closed, its like a party where it can always be contested something that is not going by the probate steps and getting the executor or administrator of the estate to be overlooked by the district judge, there is no fun anymore, trust me, that person who's got it on them shoulders has to tip toe fast before s#!t hits the fan. So an executor cannot remove a beneficiary but definitely a beneficiary can remove an executor or even an administrator, we're like at a ball with clowns...depends on how serious everyone sees it. But when money is involved, arresting an executor that doesnt want to give you your cut goes behind bars within three months cause this is fraud...to hold your money. Knoledge is freedom....and you poor thing said nothing at all in this video...what are you looking for in doing that, I have no idea.
I received the notification about the unclaimed properties and unclaimed funds at the state controller but when I contact them they said no info of me.
I'm sorry to hear you've had that experience, but you'll need to work with your own advisors to collect your unclaimed property from the Comptroller. We can't give any specific advice on UA-cam.
I wonder every website I go, I have to go through the PRIVACY agreement that's why my info blocked and misinformation with my account
I'm sorry to hear you've had that experience, but you'll need to work with your own advisors to resolve an issue like this. We can't give any specific advice on UA-cam.
I've been tried to report to a lot of government departments of law but it seemed my message doesn't deliver to anyone. I have all documents and I am the stakeholder I have all the info on hand. Almost 5 years already 0 INCOME.
I'm sorry to hear you've had that experience, but you'll need to work with your own advisors to complete your filings. We can't give any specific advice on UA-cam.
What about when a new spouse kills the Settlor (my father), in a real life pre-meditated murder/ elder abuse scenario, and makes it look like a natural death? Because this is exactly what occurred on July 4th, 2023. And I am trying to deal with the Fallout/ somehow figure out how to prevent her from inheriting roughly $4 Million dollars in assets including my family home. The police didn't investigate. The Doctors told them not to (essentially). I could not even grieve my father's passing. I cannot find a Probate Litigator to help me (after calling literally hundreds). The Police have agreed to investigate, but now I am 4 lawsuits and over $20K into this and have no time to prepare the new Affidavit they requested almost two months ago. I am disabled and near death and need help. I am the sole surviving family member. Is Power of Appointment a useful tool in a case where a Trust has been executed and assets already distributed to the beneficiaries (her and myself, the son). I want to petition the court for General Power of Appointment excluding the murdering spouse (an equal beneficiary) from inheriting anything until I (or the police) can prove to the court that she murdered my father (which may not be possible, even though I am 110% certain she did).
I feel your pain, a 33-year reform with inheritance administration Trusted Advisors in going in around the holidays to fix this, our greedy trustee tried the same thing to get all of the inheritance costing a million in litigation.
Thanks for this info. I went through Northwest Registered Agent to file my LLC and I love em for the most part but their BOI FAQ is a little nebulous. But since they are fully electronic I'm assuming they don't fit the nature of being a 'company applicant'. I need to double check with them. Really sad that I waited till the second to last day of the 30 day window to hit this snag 😟
Thanks! Unfortunately, we can’t give you any specific advice here, so yes please check with them for their answer.
Does my small nonprofit need to file a report
You’ll need to work with your own advisors to determine that answer. We cannot give specific advice here.
@@strohmeyerlawpllc thank you
@@knightconsultingllc You are welcome!
Husband passed away on 6/16/2024, and his non-recourse credit card debt was canceled after his passing. The student loan borrowed by the husband to pay for their children’s tuition from government program was also canceled due to his death. The canceled student loan is not taxable. The principal residence, mortgage and home equity loan are under both the husband and the wife. There are no business, business properties, or investment properties. Questions: 1) where to report husband’s COD from canceled credit card debts? Joint 1040 or husband’s estate on 1041? 2) If on 1041, does the husband’s share of principal residence, mortgage, equity loan, and canceled student loan need to be included in the computation of the insolvency of the H's estate? 3) If there is any excluded COD income due to insolvency, what tax attributes should be reduced on the Form 982 of the husband’s estate return (1041)? Thank you.
You'll need to work with your own tax preparer on these questions. We cannot provide specific advice in your situation.
It doesn't answer the question, just says take it to a preparer.
Thanks for the tip-title has been updated.