Texas taxes and lawsuits

[aquawarrior7]

Hi, I've been thinking of contacting you to do our taxes since the guys at H&R Block didn't seem to know much of what was going on.
Me and my partner "own" a hous together at the moment but are trying to get it rescinded though a lawsuit with the mortgage company.Do you know any thing about forclosures and or bankruptsy and how that would affect me if things go really bad with the suit as I do not own a truck yet but wanted to buy one. Technically we still own the house but haven't made a payment in about 7 months cause lawyer said we didn't need to so mortgage co is threatening forclosure cause lawyer too their time putting papers in. Bassically I'm asking if we still claim the house or not.
For doing business with you would you rather we brought you all the paperwork so you can do your thing and what paperwork do you need exactly.

 

[Fkatz]

Hi, I've been thinking of contacting you to do our taxes since the guys at H&R Block didn't seem to know much of what was going on.
Me and my partner "own" a hous together at the moment but are trying to get it rescinded though a lawsuit with the mortgage company.Do you know any thing about forclosures and or bankruptsy and how that would affect me if things go really bad with the suit as I do not own a truck yet but wanted to buy one. Technically we still own the house but haven't made a payment in about 7 months cause lawyer said we didn't need to so mortgage co is threatening forclosure cause lawyer too their time putting papers in. Bassically I'm asking if we still claim the house or not.
For doing business with you would you rather we brought you all the paperwork so you can do your thing and what paperwork do you need exactly.


Hi,
Yes, you can still use the house, but it will depend on who is the primary owner. Are both names as equal shares on the Mortgage, Title, and deed.
What I am questioning you about? is the "Sueing the Mortgage Company for what. to do what, I do not understand what you are saying.
Normaly the only way was to refinance or one of you to buy out the others interestin the house as a new purchase, and the house could of been saved, Now, there might be problems with purchasing a truck. [period]cause the of the lawyer. he actually ruined your credit due to his stupid advice of not paying, IF he put the suit in when you and him went over it, then you probably had a chance.
You might want to get a copy of your credit report, its available free online, but you have to sign up for some kind of credit monitering service, NO charge for 30 days, Make sure you cancel it prior to the 30 days, that is the monitering service. Your credit report can be printed from the internet.
The only thing that can be used as a deduction is any interest that you paid to the mortgage company prior to not paying, plus the property/Real Estate taxes, you cannot use anything else.

If you are in the Charlotte Area of North Carolina, then give me a call since I am in Kings Mountain. at 704-739-4039. and we can either meet or come in the office. otherwise, at the present time, you can mail all the information to me. Once we get closer to tax season, from January thru April 1, it can be US Mail,(snail-mail)to March 15th. Priorty Mail,(2-3day)March 16th to April 1. After April 1, it must be Fedex, DHL, USPS Overnight.
As far as the information that is needed, if you are currently driving a truck, I need all the paperwork that pertains to the costs involved, a daily count of the total days that you were out on the road by adding up the days logged out. if you have a Straight truck or the number of days that you can prove that you were out on the road, that would be from the time you left your house, to the date you returned, you must spend 8 hours in a sleeper, or in the back of the a van to be deducted.
If there are anyother questions, please do not hesitate to ask,

Franklin Katz, ATP
Frank's Tax & Business
226 S. Cherokee ST
Kings Mountain,NC 28086