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Video instructions and help with filling out and completing What is a tax lien

Instructions and Help about What is a tax lien

Music welcome to another cracking edition of investing in the u.s. podcast from Los Angeles I'm your host Reed Goossens good as always Debbie with us on the show though it is a new year it's 2022 and it's gonna be a massive you and I'm glad that you've all tuned in and your hope you've gotta learn from my incredible guests and hopefully these incredible guests inspire you to take action and get off the fence and go out there and make it happen this show is for anyone who wants to invest here in the United States not just international investors but anyone who wants to make it happen even the US as you know I'm all about sharing the knowledge with my loyal listeners there's absolutely no BS on this show straight into nuts and bolts if you do like your show please give us a review on iTunes and you can follow me on Facebook and Twitter by searching at Reed Goossens you can find this show wherever you podcast all across all the platforms iTunes SoundCloud stitcher and Google Play we can also find these episodes up on my youtube channel so head over to reduce INSCOM click on the podcast link and they'll take you straight to the video recordings of these incredible interviews you can see my ugly mug with the beautiful faces of my guests each and every week alright guys enough of me let's get cracking into today's show today on the show the pleasure of speaking with Ted Thomas America's tax lien and tax deed Ithorian specialist Ted is a Florida based educator publisher and author is more than 30 books in his career and his guide books on real estate have sold in over 4 countries across the globe in the recent past over 75,000 clients had you know carefully evaluated Ted's QuickStart introduction in secured tax lien certificates he is the go-to expert when it comes to tax liens here in the United States I'm going to find out a lot more about that and much much more but and I thought I mean let's get him out here get a Ted welcome to the show how you doing today mate well I'm happy to be here and after an introduction like that I better be good right really really excited to have you on the show thank you when you're when you're when your assistant reached out I looked at your website and I was like wow this guy is literally the go-to guy when it comes to tax liens thank you thank you we're going to get into that in a little bit but before you do you want it maybe rowana o'clock a bit and go back to where you made your first-ever dollar and I'm not talking about your real estate you're talking about the first-ever dollar you made on your on your you know as a kid you know on a block.


What is the best way to find out if I have a tax lien?
The easiest way is to still be living at the property being foreclosed on. In judicial states the sheriff is legally required to send an officer to personally deliver the notice of sale to you or someone that can accept the notice on your behalf (family member). This assumes the police have not considered the property abandoned. The officer must deliver this notice before the sale can legally proceed.In non-judicial states, you should still receive a mailed notice but there is not an officer actively knocking at the door. Thus no one is required to prove delivery.In either case, the notice of default will also be posted in major newspapers.
Is it legal to sell your house for $1 assuming it’s a clean deed with no outstanding liens?
Yes, you can sell your house for whatever you want, however, if you sell it to a family member or a friend for a steeply discounted price, you will need to declare the real value, and itemize it against your annual and lifetime exemption of gifts against the state tax. You see, there is no such thing as a “Gift tax.” However, there is an Estate Tax. Currently the lifetime exemption is $11.2 million dollars. That means if the house is worth $11.3 million dollars, and you sell it for $1, There will be an estate tax for you to pay on $99,999. Some call it a gift tax, but it is all the same thing. Anyhow, No matter what the house is worth, there will be IRS forms to fill out, and the value of the house will be placed against your lifetime exemption.In the end, it is not worth selling a house for $1. You are much better off letting them live there rent free, and inheriting the house when you die. The tax benefits of inheriting are substantial. Find an estate planner and get the real poop. Arrange your estate as they see fit, and remember, they build the tax system to catch people like you. Those who are rich enough and smart enough to hire good lawyers are able to get around it. That’s how the system is rigged against the average guy. The rich people get smart people to do stuff for them that they can’t do for themselves. The poor people ask on Quora. You may save $1000 by asking here, and cost yourself or your estate $100,000 by doing so.
A client did not pay me for software work. What should I do? Can I e-mail his customers and let them know their accountant did this? Can I be sued for that?
Do not ever e-mail the clients. The scum bag will sue you.I am not reporting legal advice. I have had more than my fair share of troubles.One guy in Florida basically tried to turn me into his slave while I was there. That’s a long story. They were Jamaicans. It took a while for me to understand that they had gotten all of their money through Ponzi Scheme in Jamaica. And, they weren’t ever going to pay me, and they certainly weren’t going to give me traveling money to get back to my house. I would say that I lost my house because of getting tangled up with them. They kept me in Florida, and I could not come back to California to my house to find work and start making payments. When I got back, the bank started giving me the run around. Four years later and a law suit with the bank, they just simply took it. Once the house was in a state of foreclosure, there was no way to get back in good with the bank. I filled out a lot of modification forms, all of which resulted in a lovely note from the bank saying that I made too much money to be helped. The bank, and the Jamaicans played the system. Programmers tend to just program.By the way, the Jamaicans even conned Donald Trump.Suing them was suggested to me by the Dade County Sheriffs Department. But, I did not pursue the suit because of how much money that took. Also, there is the time factor.But, there are a lot of clients I should have sued. One couple wrote me a stock certificate for pay and then shut down their company. Another group of clients had their stuff on my host, but they refused to pay to move it to their host. They also refused to pay for hosting. When I couldn’t pay for the host anymore they called me and asked what happened to their content.There was a project that ended up successful. But, for a prototype I put in a timed shutdown, pending payment. I ended up having to pay for the disks to be copied. They took it out of my payment which they gave me before I fixed it. But, they also finished the project with me.So, be careful about shutting down the web site. The guy might sue over that even though he owes you money.There was another guy who was sure to be the next Steve Jobs, so he thought. His checks bounced regularly. He didn’t pay much. He picked up women in front of me at Apple conferences and acted like that mad him bigger than me. In the mean time, his wife was pregnant with his fourth child. She was not at home though, because she was down at the corporation making the family income. The guy sent his lawyer after me to make sure that I didn’t use any of his intellectual property.My father was a lawyer still at that time. (And, my father has long gone to his reward.) But, my dad simply had me write a letter to the guy’s lawyer telling him that I would be happy to discard his materials and ask if the guy would ever make his last installment after so many of his checks bounced. (They bounced at awkward times, like when I was taking a girl friend on a road trip to SF. And, the guy tried to make me feel guilty that I was spending some of the money he was supposed to pay having a nice day with a girl.)So, my dad simply made it clear to me that once the guy’s lawyer understood that he really had no money to pay for his legal fees, that the lawyer would sweetly go away. And, he did.So, you have a few cards in your hand. Do it yourself law (DIY law) might be enough. Small claims might work. His lawyer might sweetly go away.As for the Jamaicans, someone else sued them and likely won. I had difficulty finding a lawyer in Florida. California was a little easier. But, I certainly thought about talking to the lawyers of the guy who sued.So, likely someone else has sued your scumbag. They can do it again.
What is the best way to learn how to buy a tax lien certificate properly?
Buying a tax lien certificate is very easy. The foremost thing to do is to understand the procedures correctly. After understanding the rules and procedures, one can start investing in it.When a property owner failed to paid the tax for one year, the property will become delinquent property. The IRS has full rights to hold the property for resale. The delinquent property is then put for sale to instantly recover the pending tax amount.The investors has full rights on the property until the property owner paid the full pending tax amount. During sale, interested investors can attend the program, look for the best liens and invest in it. The investor can get a tax lien certificate for the proof of investment. The certificate can pay you 8% to 36% interest per year depending on the county you're investing
What is a W-10 tax form? Who has to fill one out?
Here is all the information regarding the W-10 tax form from the IRS. But, it is a request to get your Child’s Dependent Care Tax Information. If you are taking care of someone’s child for them you will need to fill it out. Again you are supposed to pay taxes on all Earned Income. But, a lot of people don’t and work under the table. I don’t know many drug dealers getting ready to report their earnings this year. I actually used that scenario in college. You can’t right off bribes as an expense.. Sorry off topic..About Form W10 | Internal Revenue Service
Do people (specially businessmen) evade taxes in developed country too?
There are enough answers that deal with various aspects of taxation. This answer sticks with the base question:Do people (especially businessmen) evade taxes in developed country too?The answer is an unhesitating yes. In the USA tax evasion is big business. and it’s a pretty ancient practice too. We're talking of evasion not avoidance.According to an Efile feature story “tax evasion cases have become more and more public. Numerous states, such as California and New York (as well as many municipalities), compile public lists of the biggest tax evaders in their states. The cost of tax evasion on federal and state levels could amount to hundreds of billions of dollars per year. It is estimated that the collective cost of tax evasion over the last decade amounts to $3.09 trillion.”Now an excerpt from a 2022 issue of Fortune:“According to new estimates issued ….. by the Internal Revenue Service, tax evasion is a pretty lucrative business, costing the federal government on average $458 billion per year between 2022 through 2022. That’s a slight increase from the previous estimate, issued in 2022. of $450 billion. The feds call that dollar figure the “tax gap” and say the rise is the result of better measurement rather than Americans engaging in more tax evasion.Ultimately, the tax collectors at the I.R.S. think they will recover about $52 billion of that lost revenue, resulting in a net tax gap of $406 billion annually. The service also estimates the voluntary compliance rate, which is a measurement of the total taxes paid relative to total taxes owed. By this measure 81.7% of taxes owed find their way to the I.R.S. on time.” [1]The “Panama Papers,” which are leaked documents from a Panamanian law firm showed how some wealthy Americans had used offshore companies to hide money from the I.R.S. (There is not a whisper in India on the P Papers.)There are enough big name tax evaders from US sports and showbiz to fill a book but a few would do.Caged up in taxes.Actor Nicolas Cage failed to pay $6.2 million in taxes on the $24 million he earned in 2022. His explanation: his accountant screwed up. Cage had to sell several of his houses to pay back the IRS.Wesley Snipes, an action star of several 90s and early 2022. movies failed to pay taxes from 1999 to 2022. He claimed he was a resident alien of the United States (he failed to realize that they have to pay taxes too). Because he was born in Florida, the IRS didn’t accept his claim and he was sentenced to 3 years in prison. He got out on bail, but owes the IRS $17 million.In 2022. professional race car driver Hélio Castroneves was charged with filing years of false tax returns and evading $80 million in income taxes. His defense attorney does not deny the charges, but says that the racer is not to blame due to a brain injury which had compromised his decision-making abilities. (This one is for Mallya.)In 2022. the IRS filed a tax lien on legendary singer/songwriter Lionel Richie for $1.1 million in unpaid taxes from 2022. ,[2]The comedy team of yester years.After years of evading taxes, William “Bud” Abbott and Lou Costello, the comedy team from the 1940s and ‘50s, had to pay so much in back taxes that they had to declare bankruptcy and sell the rights to their films.Walter Anderson: An entrepreneur and billionaire, Anderson. was convicted of the largest tax evasion case in American history. At the time of his conviction, he owed the United States government nearly a quarter billion dollars in back taxes.Since the question mentions developed world a few stats are in order.Paul Hogan, star of Crocodile Dundee (1986) was linked with Australia’s $300 million tax evasion probe which involved 23 companies, including one that he owns. The Australian Taxation Office claimed that he owed as much as 37.5 million Australian dollars in unpaid taxes and banned him from leaving Australia without first paying his taxes. He was allowed to leave Australia as part of a deal, and in early 2022 he decided to sue the Australian government over false accusations of tax evasion, which he claimed damaged his reputation. In 2022. the issue was resolved on a "without admission" basis.In early 2022 former World Number 1 German tennis star Boris Becker was accused of living in Germany while claiming to live in Monte Carlo. Government claimed this lie helped him evade paying 1.7 million Euros in tax from 1991 to 1993. He admitted to tax evasion, and received a $500,000 fine and 2 years of probation. He later moved to Switzerland to avoid paying taxes. He is seen these days in the commentary box during some grand slams.The business of Mafia: American underworld is very much into legitimate businesses: it virtually owns the New York garment industry. Throw in construction, garbage collection, trucking, restaurants and nightclubs and you have a mammoth business conglomerate. That is modern day Mafia.It uses old fashioned methods though: kickbacks and protection shakedowns, bribing public officials, business leaders, witnesses and juries. And of course buying up the politicians. Quite a few Presidents have been accused of having Mafia links, Those interested in the current occupant of the White House may glance at H B Glushakow’s 'MAFIA' Don: Donald Trump's 40 years of Mob ties. Available at Amazon.What kind of taxes do these well connected hoodlums pay?Alphonse Gabriel Capone, aka ScarfaceOnce branded as Public Enemy No 1 Al deserves a little more attention than other tax fraudsters.He was the most shoodlum of the 20th century, responsible for scores of murders and virtually creating a parallel state within the USA. The St Valentine’s Day Massacre on February 14, 1929, in which seven of his rivals were gunned down was a particularly gory affair.Nobody, least of all the IRS, knew how much Capone really owed in taxes on his multi billion dollar operation in bootlegging, prostitution and gambling to mention the most lucrative of his many operations. In 1931 he was arrested for • of all things • tax evasion. The same year Capone was convicted and sentenced to 21 years in federal prison, fined $50,000 and charged $7,692 for court costs, besides $215,000 plus interest due on back taxes. A pittance.In 1939, Al Capone was released after having served seven years, six months and fifteen days, and having paid all fines and back taxes.He never publicly returned to Chicago. He had become mentally unfit for gangland politics. In 1946, his physician and a Baltimore psychiatrist, both concluded Capone, the architect of 20th century America's most lawless era, then , had the mentality of a 12-year-old child. He died in 1947.Proof positive you can't take it with you.ShalomReference[1] Here's How Much Tax Cheats Cost the U.S. Government a Year[2]Cheating on Taxes or Evading Taxes?-Famous Tax Evadershttps://en.wikipedia.org/wiki/Tax_evasion_in_the_United_States&ved=2ahUKEwiEk_fs6dPcAhWUf30KHSP4D5YQFjALegQICBAB&usg=AOvVaw2gKKVmjIyCDIuVsxnQjpTsAl Capone - Facts & Summary - HISTORY.comMedia reports in public domain.
How do I fill out a 1120 tax report?
If you are not sophisticated with taxes, DON'T try this form. You can get yourself in a lot of trouble.  Get a good CPA or EA.  The time and effort it will take you to figure this thing out is not worth it. If you value your time at more than the minimum wage, you will save time and money by hiring a professional.
Is it illegal for my boss to fill out the tax papers to tell them how much to take out?
It would be illegal for an employer to fill out a W-4 form for you.However, if you have not signed a W-4 form and given it to your employer, the employer is still required to withhold taxes. If I remember correctly they must do as if you'd filled out the form as single with 0 exemptions.If you want to change what your employer is withholding, you should be able to go to Internal Revenue Service, print out a W-4 form, fill it out and give it to your employer.If after that your withholding doesn't change in a reasonable time (I think they're allowed a couple of weeks), then talk to the IRS.
How can I do an IRS tax lien search?
Hello there,While you might not be able to get to the county courthouse, you do have access to the Internet. The good news is that many states now have online systems for accessing certain recorded or filed documents.While we don’t know what state and county you live in, if you are looking to see if the IRS has filed a tax lien against you or your home, there are several possible ways to find out that information.The first way to see if a tax lien is filed specifically against your home is to review the recorded document history for your home. Usually, IRS lien documents are filed at the state level and they may be filed at your county level as well.If you are looking at the state level, the Secretary of State for the state where you live may have a website that allows you to search a database and see if your name is on it. While it’s a bit much to describe the method used in each state, you can probably do a web search for your state and also search “IRS tax liens” at the same time.Once you find the place to search at the state level, you can then see if your name is on the list. Then, you can move to your county level and see if the specific records for your locality show that the IRS lien has been filed against your property.Each state’s search process and each state’s method for filing IRS tax liens may differ slightly. The essence will remain the same. The IRS can file a general tax lien against you to give third parties notice of a claim the IRS has against you. Then, the IRS can file a specific lien against your property to make sure that possible buyers of your assets are put on notice of the right the IRS has against your real estate.Before investing in residential or commercial property, ask our team of professionals to remove your uncertainty by conducting a lien records search. A lien search will determine if a state or federal tax collection agencies have placed a lien on the property. A lien indicates that the owner may owe back taxes on the property, and until these taxes are paid, the owner may not be able to sell the property. While you can offer to pay back taxes as part of the sale price, it is best to carefully consider your options as the amount owed may not justify your financial investment in the property.Contact Riverway Title insurance for lien search, title insurance, paperless closer, limited title search.For more detail: Texas title company, TX Real Estate Agents | Riverway TitleThank You!! Hope this helps.
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