In addition, you can't claim the credit if your annual income exceeds the limit set by the IRS for the current tax year or you are married but you and your spousefile taxes separately. The maximum credit is $2,000 but none of it isrefundable. ...
Options for the Surviving Spouse Annuities can have many variables, and one common option is a payment that continues for the lifetime of a surviving spouse. If you are the surviving spouse, you can treat the annuity as your own income going forward. The payments will continue according to...
The debt is a joint debt.In other words, your name as well as the name of the deceased is on the debt. For example, you and your spouse may have had a joint credit card, or taken out a car loan or mortgage together. You cosigned for the debt.When you cosigned for the debt, y...
If at any time since you turned 13 years old both of your parents were deceased, you were in foster care, or you were a dependent of the court,you are an independent. Additionally, if you are an emancipated minor or have a legal guardian, you are also considered independent. Are you c...
depending on the laws of the state where they reside, which could mean that a thrifty spouse may be on the hook for half of the spending spouse's credit card debt, even long after they've separated. If the spending spouse falls behind on payments, both spouses' credit ratings may be af...
Focuses on the decision of the United States Internal Revenue Service on personal financial services provided by an employer to a deceased or terminally ill employee's spouse or other legal dependent. Case example; Definition of working condition fringe; Requirement on the inclusion of financial ...
Only purchase a home with individuals you trust to pay off their portion of the debt. When a joint mortgage is used to purchase a home, Rudy notes that "if one co-owner defaults on the loan, the other co-owners may be responsible for making up the missed payments." If the other owne...
Hi Julie, if the Grantor is alive, they can be the EIN Responsible Party for the LLC. If the Grantor is deceased, then a Trustee can be the EIN Responsible Party for the LLC. Yes, a lot of moving pieces here. I think it would be a good idea to speak to an estate planning attorn...