DallasTexas(TX) Ramsey, Stephen H. personal infomation and areas of practice

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lawyer Ramsey, Stephen H. Reviews

Litigation

Litigation

This is very possible that several large companies would do this to help the bottom line. Tell me what would happen?.

On behalf of all of your responders, who take the time and effort to help questioners in this free Yahoo! community, THANK YOU in advance for taking the time to choose your "Best" Answer. We really appreciate it.

I have never worked before, so I have no clue how tax forms work. But I have now begun to earn some money online (buying and selling). Would I need to fill in a tax form? Which form? Is there a income value that which if I earn below it, I will not have to fill in a tax form?. . Thanks for tolerating my ignorance....

Basically, I need my users to fill out a form on my website (I can create one easily.) then it will save the information to my web-server, then will be accessible from my program. . If anyone has a link to a website with this information or any help at all, it would be much appreciated.. My sign up would be using a PHP coded web-page. I do not have any sort of data server set up because that is kind of my question on how to do that..

Not really. You can slowly transfer ownership to the potential heirs in chunks equal to the annual per-recipient gift tax exclusion amount (currently $13,000) each year but that can take many years to bring down the estate's value if the value is high and/or the number of potential heirs is low.. . There are significant disadvantages in doing that as well, since the recipients of the gifts only get the lower of your original basis or the FMV on the date(s) of the transfer(s) instead of the stepped up basis on the date of your death. With a long string of gifts spanning many years and many recipients, the bookkeeping just to track everyone's basis can become a major nightmare for each of them. A common tactic that lessens this burden somewhat is to incorporate the farm or ranch and distribute shares in the corporation to the heirs. You distribute just enough shares to each heir to stay under the annual gift tax exclusion amount.. . Needless to say, as you are distributing ownership of the business during your lifetime you also lose control over it. You would not be the first person to literally lose the farm well before departing this big blue marble yourself.. . Normally you should consult with an estate planner before doing anything. For 2010 the estate tax exclusion is unlimited but under the current language of the so-called Bush Tax Cuts, the pre-Bush era exclusion of $1,000,000 returns on Jan 1, 2011 unless Congress acts. The current administration has expressed a desire to return to the $3,500,000 exclusion in force last year as a compromise between keeping the $1,000,000 exclusion under Bush and doing away with the estate tax entirely.. . Some partisans like to throw up the family farm or ranch as an argument against the estate tax, however very few of them are lost to the estate tax. Most smaller farming and ranching operations fall below the estate tax exclusion amount once the persistent debt carried by most small farming and ranching operations is taken into account, making the estate tax a moot point. They are FAR more likely to be lost to the banks that carry the debt, or be sold to one of the large farming and ranching conglomerates. Even when the estate tax does force a sale, the exclusion amount plus whatever untaxed portion of the estate that remains still leaves a significant legacy to the heirs, far in excess of what most Americans will ever see.

From other posts of yours you have had trouble since you got married, really consider everything and what is best for you as an individual not him. You need to look out for yourself. If it means getting a divorce then do so.

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