How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds

Ask a Tax Professional

Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: General
Satisfied Customers: 571
Experience:  10 years experience
16356563
Type Your Tax Question Here...
characters left:
Tax Professionals are Online Now

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Tax Principles Questions

What are Tax Principles?

Tax principles are mainly guidelines on how the government should make sure that the taxes that are distributed fairly and promotes social justice. The taxes should be able to gain an income at the local, state, and federal level. The taxes should be fairly administered all throughout places around the world so it will be able to minimize the individual tax burden.

How much gift tax will a person pay on $2500.00?

The person that receives the gift doesn’t have to pay the taxes on it due to the United States federal income tax principles. There may be a chance that the person that bought the gift will have pay taxes on that gift. If the person that bought the gift decides to use the unified lifetime credit then the person will not have to pay taxes on gift. If the person decides not to use the lifetime credit then the person will have to pay taxes on gift.

If a person plans on getting a deed for a home transferred from that person to a family member. Would it be considered a gift, would there be a federal gift tax?

The home will be a gift that is stated in the tax principles section of the United States Federal documents. There may be a Federal gift tax applied to the house; the family member will have to pay the tax if the person’s doesn’t elect to use the lifetime estate exclusion route.

When a couple is married, then there is an unofficial separation, but a spouse (who has moved out) is still paying the mortgage payments and utilities, can that person still claim this as a legal residence for tax purposes?

If there the couple is not legally separated or divorced, then the couple is legally still married. The person’s marital status doesn’t affect anything so it means that the person still will be allowed to claim the place as a legal residence on income taxes.

If someone from another country gives a person gifts of $250000.00; how much taxes will the receiver of the gift pay?

If a person is the recipient of a gift then the person will not have to worry about the taxes that are on it. The person will have to file a 3520 Form that is for the gift that was received. This is a form that states the gift was received from a person in a foreign company and that the amount is over $100,000. Here is a link to obtain the Form 3520

Tax principles were established to make sure that the taxes are distributed out fairly to tax-payers around the world without having any type of problems at all. Without tax principles items would be charged at unfair prices or it may be undercharged which will create low revenue to companies around the world. What are Tax Principles? What are the Canadian Tax Principles? What is the Principles of Tax Law? These and many more questions and or concerns that involve Tax Principles can be answered by the Experts.

Ask a Tax Professional

Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: General
Satisfied Customers: 571
Experience:  10 years experience
16356563
Type Your Tax Question Here...
characters left:
Tax Professionals are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Tax Professionals are online & ready to help you now

Ron
ASE Certified Technician
Satisfied Customers: 21597
23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
Dr. Y.
Urologist
Satisfied Customers: 18606
I am fellowship trained specializing in general urology and reconstructive urology.
John
Home Appliance Technician
Satisfied Customers: 13453
Appliance repair business owner for over 43 years.

Recent Tax Principles Questions

  • My mom just received a IRS letter stating she owes $6000 in

    My mom just received a IRS letter stating she owes $6000 in taxes for the year 2012. She said she never received a 1099-B from her bank which she sold all her mutual funds that year.
    She was out of the country for most of the year, so she had already forgotten about selling her mutual fund without the 1099-B. Regardless, the IRS has her mutual funds purchase price as $0 (Actually it is a little over $40,000), so her profit/gain was over $40,000 stated in the IRS letter. (Which is a mistake)
    I'm looking at her statements after digging through piles and piles of statements. Her actually short-term net gain/loss is $39.50 and her long-term net gain/loss is -$706.13.
    She would not owe anymore taxes and in fact the IRS may need to refund more money with the negative loss.
    Is mailing her investment statement along with the written letter explanation enough evidence that she does not owe $6000 in taxes?
  • I am 52 yrs old and have been collecting disability thru MetLife

    I am 52 yrs old and have been collecting disability thru MetLife (I'm a teacher) for ten years because I have ms and degenerative disc disease ( I had spinal fusion surgery 09/2010.
    I want to withdraw funds from my IRA will I qualify for an exemption to the 10% early withdrawal penalty under the 72(m)7 exception?
  • Is there a process for me to appeal an installment payment

    Is there a process for me to appeal an installment payment amoun to the irs per month? I owe them 45,000.00 and my current income cannot handle the payment they have set up for me? Also do I have a chance? I do not want a lien on my paycheck and bank account, again. Thanks for your help, Reggie
< Last | Next >
View More Tax Questions