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Can I Claim My Child on My Taxes If He or She Is Working?

If your child has a job, it won't affect your ability to claim him as a dependent, but there are other factors you need to consider. If your child works, she made need to file her own income tax return, and if she provides more than half of her own support, she no longer qualifies as a dependent. Even if your child had a job last year, you can still claim her as a dependent on your income taxes, provided the child is still considered a qualifying child based on IRS guidelines. However, depending on how much income your child earned, she may have to file her own tax return, too. Before you can claim a child as a dependent, she must meet either the qualifying child test or the qualifying relative test. To be a qualifying child, she must be either younger than 19 years old, or be a student younger than 24 years old at the end of the calendar year. Children who are permanently and totally disabled do not need to meet the age requirement. Additionally, your child cannot have provided more than half of her own support for the tax year. Further, your child must have lived in your home as her principal residence for more than half the year, with some exceptions, such as divorced or separated parents. If your child lives away from home because of school, you can still count your home as her principal residence. Children who earned an income of more than $6,350 in 2018 must file their own personal income tax returns and may have to pay taxes to the IRS. Earned income includes wages the child earned working for an employer, such as a summer job or part-time job. Even if your child earned less than $6,350, it might be wise to have her file a tax return because she may be eligible for a refund. A child who is blind has a higher minimum threshold of $7,900. Unearned income – such as dividends and interest earned from savings and investments – is treated differently by the IRS than earned income. If your child earned more than $1,050 of unearned income for the 2018 tax year ($2,600 if she's blind), she can file her own return, or you can claim the amount on your own taxes. Either way, this unearned income must be reported to the IRS. If your child is capable of filing her own tax return, it is her responsibility to do so. If she isn't old enough to prepare her own tax return, then it's the parent's responsibility to file it on the child's behalf. If you are signing your child's tax return, sign the child's name followed by the words “By (your signature), parent for minor child."

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Ulysses lawyer 2019-12-06 20:45:28
How to Get a Retrospective Home Appraisal

A real estate appraisal is usually required by a bank or lender to make sure that the value of a property is at least as much as the value of the loan. Appraisals are usually based on a sales comparison approach--comparing the subject property to similar properties nearby--or by a cost approach, wereby the appraiser determines how much it would cost to replace a structure if it were damaged or destroyed. When questions arise as to the value of the property at a specific date in the past, however, a retroactive or historical appraisal will need to be obtained. Determine the purpose of your retroactive appraisal. For instance, the IRS may require an appraisal to determine the value of a real estate asset as of the date of death or date of marriage dissolution of an owner. You may also need to obtain a retroactive appraisal to determine a decline in value if you sell a property at a loss in order to determine a loss for tax purposes. Contact a licensed real estate appraiser for your state (each state has its own qualifying and licensing requirements). See Resources below to locate an appraiser. Explain to the real estate appraiser the purpose of your retroactive appraisal, and provide access to the subject property if possible. Also provide whatever documentation you hold (deeds, inspection reports, photographs) as to the condition of the property on the date in question. The appraiser will examine the subject property, your documentation, and historic real estate and construction data for the date in question. Review the retrospective appraisal with the real estate appraiser. Make sure all comparable sales fall before historic date of the appraisal, since subsequent changes in market value of comps can ruin the accuracy of your retrospective appraisal.

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Felix Mitzner lawyer 2019-12-05 21:04:10
How to write a plea letter

Determine your type of plea. If you are a defendant and must write a plea letter to a judge, you must first determine how you will plead. There are several different ways to plead, depending on the crime, the evidence and other factors of the case. Address the letter. Most letters to judges should be addressed "Your Honor," which shows respect to the judge.Introduce yourself. Begin the plea letter with a short introduction of yourself.State your plea. Be very clear about how you are pleading. If you are pleading not guilty by reason of insanity, be sure to include those words.Describe any extenuating factors that might persuade the judge. If this is a first-time offence and you have no other charges on your record, indicate this within the letter. Do not try to downplay the severity of the crime that was committed. Instead, if you are pleading guilty, express remorse and regret. Plead with the judge. Judges often partially base their sentencing decision on this letter and its contents. Ask the judge to be lenient on your sentencing. Describe your reasons for this request. For example, if you have children, explain that you have always been a responsible parent and it would be in the children's best interest to have you present in their lives. Close the letter. Thank the judge for his or her time, and sign your name after closing with "Sincerely."

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Yates Hirschi lawyer 2019-12-03 18:26:47
Timeline for a Personal Injury Lawsuit

If you think you might have a personal injury claim, you might be wondering what goes on in a typical case, and how long it takes. This article will walk you through the standard events and timeline of a personal injury claim and lawsuit. Get Medical Treatment The first thing that you should do after getting injured in an accident is to get medical treatment. If you are hurt, go to the hospital or see a doctor. Not only is this the right thing to do for your health, but, if you don’t see a doctor for some time after an accident, the insurance adjuster and the jury will assume that you weren’t all that hurt. Choose a Lawyer The next thing that you will have to do for anything more than a minor claim is to choose a lawyer. You should choose the lawyer soon after the injury. You can certainly settle a small personal injury claim yourself (although a lawyer is generally useful even for smaller claims), but you will absolutely need a lawyer for any personal injury claim where you suffered significant injury or other losses. Where do you draw the line between a small claim in which you don’t necessarily need a lawyer and a larger claim where you will need a lawyer? In general, if you are out of work for more than a couple of days, if you break a bone, or if your medical bills total more than a couple of thousand dollars, you should hire a lawyer. You should certainly talk to a number of lawyers, and you might want to meet several of them. After you choose a lawyer and sign a fee agreement, he/she will start working on your case. Lawyer Investigates Claim and Reviews Medical Records The first thing that the lawyer will do is thoroughly interview you about how the accident happened, your background, and your medical condition and medical treatment. The lawyer wants to know everything that you know about the accident and your injury and treatment. Lawyers don’t want to be surprised, so make sure to answer all questions as completely as you can. Then, the lawyer will get all of your medical records and bills relating to the injury and will probably also get your medical records for any treatment that you have ever had relating to the condition at issue in the case. This can take months. After all of the medical records come in, the lawyer will review them to see if, in their opinion, there is a possible case. Many times the lawyer can determine that there is no case and will deliver the bad news to the client very early on in the representation. Lawyer Considers Making Demand and Negotiating Many smaller personal injury claims are settled before a lawsuit is ever filed. If the lawyer thinks that the case can be settled, they will make a demand to the other attorney or the other side's insurance company. Otherwise, your lawyer will file the lawsuit. In general, if your claim involves a claim of permanent injury or impairment, a good lawyer will not settle it before filing suit. A good lawyer will also not make a demand until the plaintiff has reached a point of maximum medical improvement (MMI). MMI is when the plaintiff has ended his/her medical treatment and is as recovered as he/she is going to get. This is because, until the plaintiff has reached MMI, the lawyer does not know how much the case is worth. The lawyer should also not file a lawsuit until MMI. This is because, if the plaintiff is not at MMI by the time that the case goes to trial, the jury might undervalue the case. It could take months or years for the plaintiff to reach MMI, but a good lawyer will just wait, if the plaintiff can financially afford to wait. Obviously, if the plaintiff needs money, then the lawyer should put the case in suit as soon as possible. The Lawsuit is Filed The filing of the lawsuit starts the clock running on when the case might get to trial. Every state’s pretrial procedures are different, but generally it will take one to two years for a personal injury case to get to trial. Keep in mind that a lawsuit needs to be filed within strict time limits that every state has set by passing a law called a statute of limitations. The Discovery Process The discovery process is the procedure in which each party investigates what the adversary’s legal claims and defenses are. They send interrogatories (a fancy word for questions) and document requests to each other, and take depositions of all of the relevant witnesses in the case, generally beginning with the plaintiff and defendant. This process can last six months to a year, depending on the court’s deadlines and the complexity of the case. Mediation and Negotiation As the discovery period ends, the lawyers will generally start talking about settlement. Sometimes the lawyers can settle a case just by talking among themselves, but, in other cases, they will go to mediation. Mediation is a process in which both clients and both lawyers go in front of a mediator to try to settle the case. Trial Often mediation works, but, if it doesn’t work, the case is scheduled for trial. A personal injury trial can last a day, a week, or even longer. The length may be increased because, in many states, trials are held for only half a day instead of over a full day. That doubles the length of a trial, but also lets the lawyers and judges get other things done in the afternoon. One important thing to know about trials is that just because a lawsuit is scheduled for trial does not mean that the trial will actually occur on that date. Trials often get rescheduled because of the judge’s schedules. If your trial gets cancelled, you should not automatically assume that the lawyers are conspiring against you or that something unfavorable is happening. Trials are delayed all the time, and for the most innocuous of reasons.

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Terrance Gwiriri lawyer 2019-12-02 20:40:28
IRS Limits on Charitable Income Tax Deductions

If you donate to charity, it can be good for you as well as the people you help. If you itemize your tax deductions, you can deduct the donations you make to qualified organizations from your taxable income. The IRS sets limits on how much you can deduct, a limit that varies with your income and the type of organization you gave to. Even if you can afford to give most of what you earn to charity, the IRS won't let you deduct it. The maximum you can deduct in a given year is 50 percent of what you made, the IRS states; if your income rises above a certain level -- $166,800 in 2009, for instance -- the percentage you can deduct will be lowered. The IRS may limit the size of your deduction further depending on what classification of charitable organization you donated to. "50 percent limit organizations," according to the IRS, include churches, schools, hospitals and charitable groups; veterans organizations, fraternal societies and private cemeteries, on the other hand, are "30 percent" groups. That means the maximum deduction you can claim is 30 percent of your income. The IRS website provides formulas for calculating the deduction if you give money to both kinds of organizations during the year. You can claim a deduction for more things than just the checks you write to qualified groups, the Kiplinger financial website states. If you bake cookies for a school fund-raiser, for instance, you can deduct the cost of the ingredients; if you donate clothing, furniture, a car or other kinds of property, you can claim a deduction for the value of the donation. You can also deduct any mileage you spend driving to make a donation. The IRS will not, however, allow you to claim any deductions for time or services that you donate other than mileage. The IRS website provides guidelines for setting the value of property donations. Old clothing is usually worth no more than the charity sells it for; cars are worth roughly the sale price you find in a used-car guide, reduced for any major defects or problems; real estate is worth its current fair-market value. To claim full value on some items, such as antiques or jewelry, you might have to get them appraised first.

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Kongove Mathis lawyer 2019-11-29 18:07:00
How Long Do You Keep Financial Records?

It's easy to get into the habit of shredding financial records you don’t need anymore, but it’s wise to keep some paperwork in order to prove a transaction. Requirements vary depending on the type of document. If you maintain records for a solid seven years, you really can’t go wrong. After completing the arduous task of reconciling your bank statement or preparing your tax return, it may be tempting to discard the related financial documents. However, it’s wise to hold on to these records for a few years just in case you’re investigated by the tax man. Even if you don’t normally file a tax return, mortgage lenders usually want to see a decent history of your finances, so holding on to your banking and credit card statements is recommended. When someone dies, her executor or administrator becomes responsible for collecting the deceased’s cash and assets, paying bills, and distributing the estate to beneficiaries. Part of the job involves filing an estate taxes return. Like any other tax return, the IRS can randomly audit the filing up to three years after the filing date. So, you’ll need to keep records for at least that long. In some cases, relatives have an opportunity to challenge a will. They’ll usually have to move fast – in most states, you have to mount a challenge within three or four months after probate – but there are exceptions, and a case could take many years to resolve. It would be sensible to keep the deceased’s documents for at least seven years, plenty of time to resolve disputes. The basic rule here is that you keep all the records that evidence an item of income, credit or deduction shown on your tax return until the limitation period for that tax return runs out. In most cases, the limitation period is three years from the date you filed your tax return or two years from the date you paid the tax, whichever is later. The period bumps up to six or seven years if you misreport your income by 25 percent or more, or you’re filing a claim for bad debt losses and securities that have gone wrong. There’s no limitation period if you forget to file a return, or you file a fraudulent return. The IRS can perform an audit at any time in these situations, so you’ll need to keep your records forever. These documents are updated regularly, so you need to keep your bank, credit card and investment statements only until new ones arrive. Similarly, keep credit card, ATM and bank-deposit receipts until you reconcile them with your latest bank statements. Once you’ve done that, you’re free to shred or securely trash the old papers. The one caveat is a situation in which you’re planning to apply for a mortgage or loan in the near future. Lenders typically ask for at least the last two months’ of bank statements, and often many more, to evaluate your finances. It’s wise to keep at least a solid one-year history to support your loan application. The easiest way to maintain your records is to categorize paperwork by year, and label everything. If the IRS needs to perform an audit, you will have all the documents you need right at your fingertips. Plus, you can see at-a-glance when paperwork falls out of the safekeeping period and can be tossed. Papers can be stored digitally, too – the IRS is fine with digital records as long as they are clearly readable. Cloud storage solutions and mobile apps make it even easier to save important records. It’s a good idea to use a special folder, digital or otherwise, to file important papers, so they don’t get mixed up with your day-to-day documents. Use a fireproof safe for crucial and sensitive bank and investment statements, insurance policies, pension information, pay stubs, tax documents and wills.

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Gella Klausner lawyer 2019-11-27 20:17:50
What Is a Federal ID Number?

Think of a federal ID number (also called an employer identification number or EIN) as the Social Security number for your business. A federal tax identification number is a 9-digit number assigned by the IRS and used by them to identify a business entity for tax purposes. It's easy to get one. You have a Social Security number, a cell phone number, a driver's license number and a passport number. Do you really need a federal ID number, too? Maybe, if you have a business. Think of a federal ID number – also called an employer identification number or EIN – as the Social Security number for your business. You will need it if your business hires employees, opens a business bank account or pays certain types of taxes. If you operate a business, the IRS may require you to get a federal ID number, or EIN. It is the equivalent of a business Social Security number, used by taxing authorities to identify your business. Not every business needs one, but you'll need to get an EIN if you want to: Start a new business Hire employees Use a tax-deferred pension plan Open a business bank account Start a business line of credit Change the legal character of your organization Create a trust, pension plan, corporation, partnership or LLC Represent an estate that operates a business after the owner's death Getting a federal ID number is easier than remembering it afterwards. You can apply online at the IRS website as long as the business is located in the United States or its territories and you have a Social Security number. You'll get your EIN as soon as you submit the application. Or, you can apply by fax using IRS Form SS-4, and you'll get an EIN by return fax within four days. Mailing the SS-4 form is also possible, but you'll have a wait of about four weeks to get the number by mail. The application is one page. Provide the name, address and phone number of the business, and the name and SSN of the responsible party. You must check a box to identify the type of business, such as a partnership, another box to indicate the principal activity of the business, like construction, and then answer a few questions about business activities. There is no fee to get an EIN.

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Jonathan Sherman lawyer 2019-11-26 20:44:33
How Long Do You Keep Tax Records?

Keep tax records until the period of limitations for that tax return has expired. Generally, the period of limitations is three years from the tax return due date. The period is longer if you file a claim for worthless securities or file an inaccurate or fraudulent return. If the only things certain in life are death and taxes, you can't avoid doing your tax return, which can result in a lot of paperwork piling up. Tax records should be kept until the period of limitations runs out, which varies depending on your circumstances. Why Should You Keep a Copy of Your Tax Return? It's good sense to keep a copy of your tax return and all documents that support entries on your return (income, deductions, credit, etc.). This helps you make amendments to your return (for example, to claim a credit or refund) and prepare future tax returns. If the IRS audits your tax return, you must provide records and supporting documents to prove any income, deductions or credits claimed on the return. Generally, the IRS has three years from the due date to perform an audit. If you fail to report more than 25 percent of your gross annual income, the IRS requires you to produce tax records and financial documents for the six years before the due date. If you are accused of committing tax fraud, there is no statute of limitations for performing an audit. How Long Do You Need to Keep Tax Records for a Small Business? The length of time you should keep tax records for a small business depends on the period of limitations. This is the period of time during which you can amend your tax return to claim a credit or refund, or the IRS can assess additional tax. As a general rule, keep income tax returns for small businesses for three years from the due date. If you file a claim for a credit or refund after you file the return, keep tax records for three years from the due date or two years from the date you paid, whichever is later. If you file a claim for a loss from worthless securities or bad debt deduction, keep tax records for seven years. If you fail to report more than 25 percent of your gross annual income, keep records for six years. If you do not file a return or file a fraudulent return, keep records indefinitely. A small business should also keep employment records for at least four years after the date that the tax becomes due or is paid, whichever is later.

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Kongove Mathis lawyer 2019-11-25 21:25:18
How to Write a Witness Letter for Statements

A witness statement is a brief summary of a witness's testimony. It is used either in the process of discovery as a preview of the full testimony or as the actual testimony in court. In the United States, litigants usually forgo witness statements in favor of a more extensive and direct deposition of each potential witness prior to the trial date. Write a heading in an upper corner of the page. The heading should include the name of the party for whom the statement is being prepared, the date of the witness statement and the case number. At the center of the page, write the name of the case. This is typically written as the name of the claimant or plaintiff, identified as such, followed by the word "and," then the name of the defendant, identified as the defendant. Identify yourself and your involvement with the case in the opening paragraph. Give your name, your address, your age and your occupation. Then describe your relation to the defendant or to the scene of the alleged crime. Begin describing the events that you have witnessed. For added clarity, break down the events into a numbered sequence. Include as many exact details as possible. These include dates, times, dollar amounts, makes and models of vehicles, time and speed estimates, distance from objects, and personal descriptions. Reproduce conversations in the first person, using direct quotation, to the best of your ability.Do not write about events that you did not directly see, hear or otherwise perceive yourself.At the end of your statement, verify it by writing, "I believe the facts stated in this letter are true to the best of my knowledge."

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Gella Klausner lawyer 2019-11-22 19:31:43
DISPARAGEMENT AND DEFAMATION

WHAT’S THE DIFFERENCE BETWEEN DISPARAGEMENT AND DEFAMATION? Disparagement means anything negative statement about someone or something. So the non-disparagement provision in your employment agreement or severance agreement applies to any and every negative statement. It does not matter if the statement is true or not, opinion or fact. If your statement makes your employer look bad, it is disparagement. Defamation is much more specific and requires that a false statement[1] be made. For example, it may be disparaging to say that your boss is a “donkey fisted idiot,” but this is a statement of opinion and therefore, not defamation. To be defamatory, the statement must be demonstrably false. For example, “my boss is a drug addict” is defamatory because it can be specifically proven as true or false. WILL MY EMPLOYER SUE ME FOR BREACH OF NON-DISPARAGEMENT? Any time you say negative things about your former employer, you take a risk—especially if such statements prove to be false—but whether you will be sued really depends on the employer. Two Part Test: Will I Be Sued For Breach of Non-Disparagement: (1) will my former employer find out about my negative statement, and, if so will it care? First of all, chances are, your former employer is not watching your every move. There is almost no way, something you accidentally blurt out at a cocktail party is going to come back to haunt you. With respect to #2 – whether your employer will care, this tends to be directly correlated to money. If what you say causes your former employer financial harm, then they are more likely to sue. If your statement, no matter how inappropriate, does not hurt the business, it probably does not make sense to sue you. A lot of employers (as well as individuals) often make the determination that the best thing to do about comments that are negative or untruthful is to let them fade away and be forgotten. The choice to bring a lawsuit does the opposite and may cause more people to know about the statements for a longer period of time. If something is outrageously false and well-publicized, the employer could determine there is a value to suing an employee who is found to be the source of the statements in order to clear up the public record. Sometimes, employers send scary “cease and desist” letters threatening to sue. There is an ocean of difference between threatening to sue and bringing a lawsuit. If you’ve received a cease and desist letter, threatening to sue you for breach of a non-disparagement, non-compete, or non-solicit agreement, we offer a flat-fee service specifically tailored to lawsuit avoidance. IF I SIGNED AN AGREEMENT WITH A NON-DISPARAGEMENT CLAUSE, DOES THIS MEAN I CAN’T SAY ANYTHING ABOUT MY EMPLOYER’S WRONGDOING? There are specific carve-outs under the law for saying negative things in the course of legal proceedings to permit individuals to enforce their rights without fear of a libel suit. On a related note, in the wage and hour context, courts do not permit confidentiality provisions in settlement agreements that would prevent other employees from learning about a settlement from which they may benefit.[4] There are also recent amendments to the New York State Human Rights Law precluding confidentiality provisions in settlement agreements (unless the employee prefers it) pertaining to sexual harassment and other types of discrimination that seek to muzzle employees who are knowledgeable about these issues. The upshot of both of these limitations is that, in the context of a legal proceeding, an employee may be able to disclose information the employer considers disparaging or defamatory.

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Terrance Gwiriri lawyer 2019-11-21 20:07:24

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