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623 posts tagged with Tax.
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How to file taxes when there is part-year-resident overlap with wages?

Most of the part-year stuff on Turbotax seems to assume a clean break - that you lived in one state, worked there, then moved and established a residence in a new state. But we moved, established a residence in a new state, and then while there, still had work income from the first state. How the hell do we show this on tax returns? [more inside]
posted by corb on Mar 2, 2015 - 11 answers

Help my friend in time for the RRSP deadline - Canuck Version

Is an RRSP loan worth it? [more inside]
posted by OlivesAndTurkishCoffee on Feb 25, 2015 - 6 answers

Grad Student. Doesn't mean I understand a 1098-T.

I have a taxes and graduate school-related question for you all! Obviously, you are not my tax advisor, but can you shed some light on a very strange situation and suggest whether or not it's worth seeking professional help? [more inside]
posted by WidgetAlley on Feb 8, 2015 - 10 answers

Can I claim my fiance as a dependent if we didn't live together in 2014?

My official residency last year was in GA with my mother, but I paid for my fiance's food, rent, and all living cost throughout the year. She is a resident of AL and the all utilities plus her apartment lease is in her name even though I paid for everything. [more inside]
posted by isopropyl on Feb 7, 2015 - 27 answers

Business expenses- buy right now, deduct later?

I would very much like to buy some things for my business which does yet technically exist. How does that work? Business owners of metafilter, pleas help me! [more inside]
posted by skjønn on Feb 6, 2015 - 2 answers

How best to take advantage of 0% sales tax in Oregon?

I live in Seattle and travel to Oregon (Portland area) several times per year. What strategies can I use to best take advantage of the fact that the state has zero sales tax? Sure, I can just buy stuff when I'm there, but can I buy items online and ship them to an Oregon address? Or does that trigger sales tax in the originating state? [more inside]
posted by Cool Papa Bell on Feb 6, 2015 - 6 answers

Medical expenses deduction question

I went up to my deductible in my health insurance plan - So I had a $4,500 total bill. However, I'm on a repayment plan with the hospital. If I have was billed this amount during 2014, but am still repaying it, is this amount considered "out of pocket expenses"? If I only include the portion that I paid under the repayment plan, I don't qualify for the deduction (yet I'm still paying the big silly amount so it feels like I should.)
posted by mermily on Feb 5, 2015 - 4 answers

At what income bracket is it worth hiring actual tax accountants?

I know that if you plan well with accountants, you can reduce your tax profile. At what income bracket do you actually get enough advantage from doing this and finding all the weird corner hidden deductions to well cover the expense of hiring the accountant in the first place? [more inside]
posted by corb on Feb 4, 2015 - 17 answers

Is it legal to only accept pre-authorized or second-party payments?

Are there any laws or regulations in Alberta, Canada, that would supersede a county-imposed pre-authorized-only payment scheme? [more inside]
posted by CKmtl on Jan 28, 2015 - 0 answers

Where do I start to sort out my life?

I'm completely lost. I have always suffered from depressive episodes (never discussed it with anyone) and now things have come to a head. I am in my early thirties. I don't know how to carry on. [more inside]
posted by anonymous on Jan 22, 2015 - 15 answers

Paying french income taxes after leaving the country

I've been working in France for the past year and am leaving permanently in one week. I've been churning through all the various administrative tasks but I'm a bit confused about tax. I know that this year I will need to pay my taxes for 2014. The question is, do I need to inform the government that I am leaving, or do I need do anything else before I leave? How do I organise paying my taxes from Australia? [more inside]
posted by neatsocks on Jan 13, 2015 - 1 answer

Germany - tax return deadlines?

Guten Tag Ask MeFi! I need to fill in at least one tax return, for 2013-2014, and possibly also for 2014-2015, here in Germany. It is all about income earned here in Germany. What is (was) the deadline(s)? [more inside]
posted by KMH on Jan 9, 2015 - 3 answers

Can't carry over an FSA. Right. So -- then what?

If I contribute $2500 to a Flexible Spending Account (FSA) in 2015, and end up spending only $2000 of it on health costs -- what happens to the other $500?
posted by LonnieK on Nov 18, 2014 - 17 answers

Overpayment by employer - gross vs. net repayment

I just received an email from the company through whom I contract, claiming that they had paid me twice for a recent week. Obviously they now want that money back; however, they are asking for the full amount I was paid, NOT the amount I received after taxes. I am assuming I am on the hook for the whole [cursing] thing, but can someone tell me how this works? [more inside]
posted by DingoMutt on Nov 14, 2014 - 13 answers

Tax implications of paying back a signing bonus

If I have to pay back a signing bonus because I didn't stay at the job for a full year, is there any way to recover the taxes I paid on the signing bonus? [more inside]
posted by evil otto on Nov 7, 2014 - 8 answers

Financial planner in the Bay Area & knotty tax problem I'm afraid of!

I'm looking for a fee-based financial planner in the Bay Area to help me figure out one simple problem, and one knottier one. I have about $10k in CDs, and I'd like to invest it in a slightly smarter, similarly low-risk way (probably index funds) that I can add to slowly and in (relatively) small increments. I'd probably also like to start a 401k. Unrelatedly, as a child I was gifted $3k in shares of a single bluechip stock that I've never touched, and it's accrued value gradually but steadily over several decades. Recently, talking to a wiser friend, she pointed out that I've never paid taxes on it! I'm not sure how to deal with that, but probably can't avoid it much longer! How money works is confounding to me; I come from a working class background and am good at saving, but not saving wisely. Anyway, I'm primarily looking for financial planner suggestions, but if you've dealt with related stock/tax issues please share your experience and advice! Throwaway: infernalsockpuppeteer@gmail.com if you'd prefer.
posted by anonymous on Oct 14, 2014 - 11 answers

Tax question - how do I (or do I) pay tax on a distribution from a K-1?

I had an interest in a limited partnership that wound-down and distributed its assets. I received a K-1 with the distribution shown in Box 19. How do I pay tax on this? [more inside]
posted by anonymous on Oct 10, 2014 - 6 answers

Taxaphobic in Chicago

We hate doing our taxes. Despite a professional familiarity with the basics of the tax code, or perhaps because of it, dealing with all of the paperwork really stresses me out, and my spouse doesn't like to do it either. Can you help us find an accountant in the Chicago area who will be competent and easygoing? Details inside. [more inside]
posted by anonymous on Sep 28, 2014 - 2 answers

How should my Dad leave us the proceeds from the sale of his land?

My Dad owns about 20 acres of land in a small town that he wishes to give to my brother, my sister, and myself now, not when he passes. My siblings and I plan to split the proceeds of the sale of the land evenly amongst us. Which way, tax-wise, would maximize the amount of money we receive from the land in the end? Should my dad give the title/deed to us first and we sell it, or Dad sells it and then gives us the money from the sale of the land? [more inside]
posted by Gmbee on Sep 28, 2014 - 15 answers

citizenship tax and student loans

I'm a US citizen with indefinite leave to remain in the UK. I want to apply for UK citizenship. I have defaulted student loans in the US and haven't filed my taxes in the US for ten years while I've lived here in the UK. Am I going to need to get straight with the US before I can naturalise as a UK citizen? I intend to pay / file what needs paid and filed but what order should I do it in?
posted by Mistress on Sep 25, 2014 - 6 answers

TAX??? Low earning American marries High Earning European

Okay. I have been in Europe now (and live as an EU citizen) for almost 10 years. I have no desire to ever return to the states. NONE. WHATSOEVER. NONE. I make very little money so have never passed the threshold to need to pay American tax. But if I get married to a high earner here in Europe. (we are talking 200k plus per year in salary) what happens? Is that joint income if we are married? And if we want to have, say- 3 children, in quick succession. How could this work? Could I have the children, pass on my citizenship, pay tax and then relinquish? What happens? I am completely fine with giving up my US citizenship, and my possible future husband has no desire to live in America- but I realize it could be beneficial to my children. I'm not sure exactly what to think. This is not happening at the moment. But it could happen in the next couple of years. Advice and anecdotes are most welcome!
posted by misspony on Sep 13, 2014 - 13 answers

Can I drive to a mechanic for repairs with no tax or MOT?

My car failed its MOT yesterday and, as a result of my bad time management, the tax disc has expired today. I can't tax it without it being covered by a valid MOT certificate, but I need to get it to a garage for repairs so that it can pass the MOT. Is it legal for me to drive it to the mechanic? [more inside]
posted by knapah on Jul 1, 2014 - 4 answers

Tax strategies for a travel year of no income

My spouse and I are going to leave our jobs at the end of the year and travel internationally throughout 2015, with no income. Are there any strategies we should be following to make the most, tax-wise, of this change? [more inside]
posted by anonymous on Jun 25, 2014 - 5 answers

Gay Tax

I hit the holy grail and have a new position with full benefits, including full coverage for domestic partners. I have a partner who lives with me, but we are still fairly newish and are not ready to get married. I have to enroll us in the benefits very soon, like now. The problem is, the queer tax (I guess now the Not-Legally-Married tax) on my partner's benefits. [more inside]
posted by latkes on Jun 12, 2014 - 14 answers

Church tax on income - consistent with the bible?

I'm not religious, but would like to know whether the enforcement of a tax on income by the church in some countries - normally around 1% - is consistent with the bible.
posted by devnull on Jun 4, 2014 - 14 answers

What happens when you don't take the required minimum distribution?

My family, being not financially savvy, bought into a slew of variable annuities in 2000 without knowing what they were doing. My grandfather is now in his 80s and never withdrew his required distribution from his IRA variable annuity. I know the penalty is steep. What can we do? [more inside]
posted by bluelight on May 28, 2014 - 8 answers

My paycheck shrunk about 10% from last time because of withholding. Why?

I originally got paid for a one week interval and 22% of my paycheck was deducted for taxes. Now, I'm getting paid in two-week intervals and 31% of my paycheck is being deducted. The money is disappearing into withholding. Why did my paycheck shrink, even though my pay rate hasn't? I have not changed my withholding allowances. [more inside]
posted by WCF on May 15, 2014 - 7 answers

How is mortgage interest to a private party treated under the AMT?

In the US tax code (specific to the AMT), is mortgage interest to a private party treated differently than mortgage interest to a bank? [more inside]
posted by true on Apr 19, 2014 - 2 answers

Employer reveals they've been inadvertently underpaying me for years

Due to an accounting error, my employer has not been paying me my full salary for the last several years. I'm in sales, and I get paid on commission, so my paycheck fluctuates month to month - I never even noticed my paycheck was always secretly slightly less than what it should have been. My employer just discovered their error and told me immediately. Which I hugely respect. We have a good employment relationship and we'd all like it to continue. They're saying they now owe me about $145k plus interest, and are prepared to write me a check, but they know this raises some tax issues for me. [more inside]
posted by anonymous on Apr 17, 2014 - 20 answers

Grad School Tax Questions.

I'm entering a PhD program with full tuition covered and a stipend. I own a home with my fiancee, but my home is 2 hours away from my school. So for the first year, I'm going to rent an on-campus apartment. And I have some tax questions. [more inside]
posted by MisantropicPainforest on Apr 14, 2014 - 14 answers

Writing off expenses: LLC -vs- C-Corp -vs- Non-Profit edition

I'm planning on starting both a nonprofit and a business (LLC or C-Corp) before the end of summer, and I'm uncertain as to my ability to write off expenses. Each would be run with a small (<5) group of investors/friends. [more inside]
posted by NYC-BB on Apr 5, 2014 - 4 answers

Property taxes on a new house in New Jersey

Hi, I'm doing my 2014 taxes. I moved to New Jersey on Dec. 13, 2013 (from New York) and during the closing I paid the property tax for December, as well as 3 months of property tax in advance for the first Q of 2014. My question is: one my taxes, do I claim just the December taxes, or can I claim all the money I paid in 2013?
posted by to sir with millipedes on Apr 5, 2014 - 2 answers

Requesting a tax extension in USA when not sure of filing status

How do I request an extension to file my income taxes when I'm not sure if I will be filing as "married filing jointly" or "married filing separately" and if separately, what deductions/exemptions, if any, I may be entitled to. [more inside]
posted by anonymous on Apr 1, 2014 - 4 answers

Help me sort through my income tax filing options

Free online tax filing that allows a Schedule K-1? [more inside]
posted by fishmasta on Mar 22, 2014 - 4 answers

Marriage and the tax penalty.

Should we get married this year, or will that end up in a tax penalty, considering our incomes are similar and we would end up in a higher tax bracket? [more inside]
posted by anonymous on Mar 7, 2014 - 14 answers

Notice of Grant of Stock Option?

I've received a "notice of grant of stock option" from the company I work for, with a place for me to sign. [more inside]
posted by zeek321 on Feb 25, 2014 - 13 answers

Canadian GST/HST error

From about 2008 to 2012, I was self employed as a private tutor in Canada. My income ranged from about 25k - 40k. During that time, I didn't collect GST/HST from my students because I didn't realize I was required to. I received a letter on Friday from Canada Revenue saying that I've been registered for an HST number and asking to submit GST/HST for 2010-2011. I'm a bit scared now, and wondering if anyone can give me an idea of what the penalties might be? I plan to talk to an accountant in the next week, but I'm just hoping to get an idea of what I might be in for.
posted by anonymous on Feb 23, 2014 - 3 answers

What kind of tax help should I be getting?

I'm a roughly average taxpayer who doesn't know very much about American tax law or the tax preparation industry. Should I keep ignoring it and filing my taxes by myself, or will I benefit from looking for professional tax advice? [more inside]
posted by value of information on Feb 19, 2014 - 6 answers

I don't live there! I've never lived there!

The mailing address on my W2 is incorrect and the employer refuses to amend it. How big of a problem is this going to be when I file my taxes? [more inside]
posted by thereemix on Feb 13, 2014 - 8 answers

Freelance / self-employed tax deduction for reimbursed travel expenses?

Can a freelance / self-employed person (filing Schedule C) deduct from her taxes the cost of business travel (airfare, lodging) that she was later reimbursed for? [more inside]
posted by toomuchkatherine on Feb 9, 2014 - 3 answers

Count On Us!

NameFilter: Looking for a name for a small tax accounting firm that is marketing itself primarily towards artists and other creative types. [more inside]
posted by Jairus on Feb 5, 2014 - 5 answers

Disability Insurance is taxable, right?

I was on California State Disability Insurance (SDI) for a few months in early 2103. My understanding is that this is not taxable as income on my California return. However, I assume it's federally taxable. But confused. [more inside]
posted by colin_l on Jan 26, 2014 - 4 answers

Getting reimbursed for taxes from job-related tuition benefits

My husband is completing his masters degree at the university where he also works. He gets tuition benefits, but any tuition benefit he receives over $5250 per year is taxable. The university treats those taxes as part of the tuition bill (they are about 37%) and we pay them out of pocket. According to our university, we should be able to get reimbursed for the taxes that we paid, given that the tuition counts as a job related expense. How do we do this? Bonus: how do we do this... on TurboTax? [more inside]
posted by ancient star on Jan 22, 2014 - 14 answers

UK tax filter: can I claim my season ticket as a travel expense?

I work as a mystery shopper as an independent contractor. I am given a set fee for each job. In previous tax years I've purchased individual tickets to get to and from each visit, and have claimed these back as travel expenses in my tax return. Halfway through the 2012-13 tax year I started a permanent, full time job and took advantage of their season ticket loan scheme to purchase an annual travel pass. Because of this pass, I no longer buy separate tickets to travel on mystery shopping visits. My question is, can I still claim a portion of this season ticket back as a travel expense for the mystery shops? For example, if it would have cost me £4 return to get from home to a site and back again, can I claim that £4 even though I don't have individual tickets for those journeys? I am guessing I can't, which is fine, but I've not been given a firm steer by HM Revenue and Customs and I want to get this right! I know you are not my tax accountants, but I am guessing some of you have had the same issue and can point me in the right direction!
posted by ozgirlabroad on Jan 21, 2014 - 3 answers

not playing around

How do I pay taxes on the game show winnings I received? [more inside]
posted by anonymous on Jan 5, 2014 - 17 answers

Can I deduct training costs as tax deductible?

If I paid back an employer for training costs and business expenses related to the training - are these tax deductible? [more inside]
posted by lpcxa0 on Jan 4, 2014 - 2 answers

Any reason to keep track of lots, or even transactions, in an IRA?

Am I understanding the USA's IRA laws correctly that all I really have to keep track of, in order to eventually (years from now) take money out without penalty or double taxation or such, is the amount of after-tax money I put into it over the years? [more inside]
posted by Flunkie on Jan 4, 2014 - 5 answers

Should I have been charged tax?

I run a promotional merchanding company. We are fully registered as an LLC in the state of NJ. We have a tax ID number and are officially a re-seller. We recently did an order for a client located in the state of California. The vendor who manufactured the items for us is also located in the state of California. When our final invoice came, we were charged tax and were told when the vendor and final destination were inthe same state (or at least in CA), then we are due to be charged tax on the merchandise......We have done plenty of orders with the same scenario (produced in CA and shipped to CA) without being charged tax....... We are confused. Should we have to pay tax or not on this order?
posted by TwilightKid on Jan 3, 2014 - 3 answers

Where should I put my Oregon Political Contribution Credit?

I'm a relatively new transplant to Oregon, so I didn't find out about the Oregon Political Contribution Credit until last April. And then I promptly forgot about it until I heard a fairly annoying ad on the radio reminding people today is the last day to make a contribution. Should I donate my 50 bucks to any particular cause? [more inside]
posted by pwnguin on Dec 31, 2013 - 3 answers

New Jersey "exit tax" questions. (Nonresident sale of NJ real estate)

How do I file to get the money back that was withheld at the closing of a condo in New Jersey? [more inside]
posted by bink on Dec 30, 2013 - 2 answers

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