Our investment properties are loaded tax wise 99% on my husband (as he is the main income earner) and 1% on me (as I have a very minmimum casual job). All has been done through a solicitor and accountant, and a friend of ours (professional) claims that if we were to be audited by the tax department we could be in alot of trouble. IS THIS TRUE?
2006-10-02 16:01:02 · 2 answers · asked by sid98gal 1 in Business & Finance ➔ Investing
You would probably get a better answer if you posted this question in the "Law and Ethics" section
2006-10-02 16:05:00 · answer #1 · answered by dredude52 6 · 0⤊ 0⤋
You get no advantage, a minimum of federally, from paying her estate taxes. I do not know if California allows for a state deduction for hire paid. But, your sweetheart's mother demands to comprise that as condominium earnings, however she could get the estate taxes paid deduction.
2016-08-29 08:53:00 · answer #2 · answered by ? 4 · 0⤊ 0⤋