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Recent Tax Exempt Property questions

In the state of TX, if a church organization (unincorporated

In the state of TX, if a church organization (unincorporated religious association) sells a tax exempt property to an individual that is not another non profit, is there a property tax liability for either the buyer or the seller (from the proceeds of the sale) at the time of the sale?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,938 satisfied customers
I own a business that operartes in New York State and the State

I own a business that operartes in New York State and the State of New Jersey. Seperate Licenses for each state. The bulk of my business is a tax exempt building in New Jersey. I have included in my NYS Sales tax the deposits from my New Jersey account that is tax exempt. Have I overpaid taxes to the State of New York?

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Megan C

Master's Degree

30,026 satisfied customers
Can a not-for-profit orgainzation rent space to a for-profit

Can a not-for-profit orgainzation rent space to a for-profit entity without losing the not-for-profit property tax exemption providing the not-for-profit entity (Church) does not receive compensation exceeding what is allowed? Please give me a citstio in the NYS tax code to verify this face.

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39,712 satisfied customers
PA Sales Tax: If you are a contractor doing site work for edcuational

PA Sales Tax: If you are a contractor doing site work for edcuational institutions, are we required to pay sales tax for Job Materials used for Sewer Lines Water Lines Storm WaterLines

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5,016 satisfied customers
I had some wood flooring installed last year for $3000 in a

I had some wood flooring installed last year for $3000 in a rental property that I was staying in at the time. Does this count for a federal sales tax exemption? The Turbotax help guide lists 'building materials for major home improvements' as an appropriate exemption but then it indicates not to include "items purchased for your business or rental property" as exemptions.

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PDtax

Owner

Master's Degree

7,972 satisfied customers
I recently inherited a large sum of money from my late

I recently inherited a large sum of money from my late father into an inherited ira, so far this year I have taken out a total of 90k in total, some being for student loans, going back to school college tuition, paying off credit card and student loan debts and by each withdraw have withheld 10% for federal and state income tax. I estimate my total income will amount to 120k by the end of this year as an estimate. How much tax am I going to owe when I file my return around March? I am a single self employed designer and not a dependent.JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: when might I hear a detailed response?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,938 satisfied customers
In a divorce situation-if one party agreed to pay all TAX

In a divorce situation-if one party agreed to pay all TAX Debt accused during 5 yr marriage can that party make payments directly to the IRS and have applied to other parties account? also, is it possible to go online to find out how much is the total amount due? everything is in the other parties nameJA: It's only $5. The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: What is $5

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Mark Taylor

Certified Public Accountant

Masters

3,388 satisfied customers
I sold a second home in March and I will have capital gains

I sold a second home in March and I will have capital gains on it. I own vacate land that I am about to see at a loss. Can I use the lost on the land to offset some of the gains on the house? Both properties are person use and were not rented out at any time.

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Robin D.

Vocational, Technical or Trade School

25,350 satisfied customers
We purchased a house in 2013 and are selling it now (2017).

We purchased a house in 2013 and are selling it now (2017). As a result of a home inspection, we discovered the need for foundation repairs. The house passed inspection in 2013. Can I claim the foundation repairs as a capital expense, since without them, I can not effectively list my house for sell at market value? (i.e without the repairs, my house is worth less than loan value)JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: The house is in GA.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,938 satisfied customers
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