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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
If a person lives* in Washington state but works** in Oregon, to which state does she pay state income tax? Oregon, Washington, or both? [more inside]
posted by SLC Mom
on Dec 30, 2013 -
A disabled relative is having all the money automatically taken out of her account by the Canada Revenue Agency (CRA). She doesn't owe taxes (all she has to do is file and they will give the money back) but this will take many months. What can we do? [more inside]
posted by Dreadnought
on Dec 20, 2013 -
I have a very, very small business (a blog; it gets decent traffic and I made some money advertising). I have some questions, and I'd like to speak to a tax professional or attorney for probably less than 30 minutes. I'm in Los Angeles, CA. Can you recommend someone and give me a ballpark cost? [more inside]
posted by insectosaurus
on Dec 18, 2013 -
In the next few weeks I have to make a decision about exercising some incentive stock options. I have a general idea of the tax implications of this event, but I would like to meet with an accountant who can run me through the exact numbers. [more inside]
posted by outlaw of averages
on Dec 18, 2013 -
How do newcomers enter the spirits business when distilling without a permit and or without paying excise taxes is a federal crime
? Home distilling
is not a viable gateway hobby like home brewing
. [more inside]
posted by Admiral Haddock
on Nov 18, 2013 -
I am looking for examples of states or localities (in the US) where school tax payments are separate (either separate bills, or line items) from property tax bills. This is the case in NY State where the school tax bill is a separate bill. If anyone knows a comprehensive source on which states do and don't do this, that would be great. Otherwise your anecdotes as property tax payers in specific states will be helpful, even better if you know where this is explained on a state government website.
I am trying to figure out where people know (as in NY) exactly how much money they are contributing to the local school system (or think they are, since they are also contributing to federal and other forms of school support).
posted by cushie
on Nov 14, 2013 -
Would a standard solicitor be the best person to advise? A specialist of some sort? A tax accountant? How to avoid unnecessary fees for work on this that the family can do--for instance, they are already tracking down all the banks with investments. [more inside]
posted by Anwan
on Nov 10, 2013 -
I'm investigating reappraising our house to get rid of PMI. We meet the conditions for application, which involve bringing in an appraiser. The appraiser we would pay for is hired through the mortgage company — we have no control over the appraisal process. Do appraisers who are hired to get rid of PMI do a fair and honest job in calculating the true market value, or, alternatively, do their valuations fall close to online appraisals on average, within some percentage? (Are online estimates close to market value, within noise? Two online estimates suggest we are over the required valuation by roughly 40-50k.) Finally, are there downsides or gotchas to getting rid of PMI, other than a smaller federal deduction at tax time? [more inside]
posted by Blazecock Pileon
on Oct 8, 2013 -
What rules do you use for estimating the value of things you give to charity? The organizations we donate to ask us to estimate the value for tax purposes ourselves, rather than doing it for us. I know we obviously should not use the full price that we paid for the item. I am wondering if it is okay to value items at, for example, what we might get for them off Craigslist (sometimes say 1/3 to 1/2 or in rare cases even 2/3 what we paid, depending on the item and condition), or whether we should be valuing at more like what I'd use for a yard sale price of like 1/10th or lower. Does it matter? And is there a corresponding tax consequence for the recipient organization, such that if I declare the higher value on our taxes that organization realizes some proportionate tax or penalty? If so I should probably just estimate lower in order to further benefit the charity. Thanks!
posted by onlyconnect
on Oct 8, 2013 -
A friend in Mexico does some consulting for a US company. He has an account in a US bank, where he receives payment for that work.
The bank just sent him a W-8BEN form and we are not sure how to fill it. [more inside]
posted by clearlydemon
on Sep 27, 2013 -
I am buying a used car in Cook County, IL. (I am in the dealership right now.) Is the dealer correct to charge me 9.5% tax? [more inside]
posted by Mid
on Sep 21, 2013 -
I need some advice on how to best manage a severance package cheque I’ll be receiving in a week or so. I have room to contribute, approx. $15k or so into my RRSP (this may be understated, going from memory)
I want to stay reasonably liquid, I’m not sure how long it will take me to find a new position and I will be living off of this settlement in the interim
Is there tax benefit to contributing to my RRSP now, and withdrawing in the New Year?
If I just take it all, I’m thinking I’ll get a decent tax return when I file – true/false?
Is there any benefit to asking for 2 cheques, one now, one after January 1st?
Total severance will be around $70k or so, gross
Thanks for your help!
posted by walkinginsunshine
on Sep 18, 2013 -
I recently moved from the U.S. to Melbourne, Australia, and I have some questions regarding taxes and accountants. [more inside]
posted by milkcrateman
on Aug 21, 2013 -
What does “out-of-state business activity” mean in the below quote?
“If you are a Michigan resident, all of your income is subject to tax, no matter where it is earned, except income earned from out-of-state business activity.” From this web page – here [more inside]
posted by Sabby
on Aug 8, 2013 -
I'm making a feature film and I need an accountant to maybe handle payroll, but mainly to advise on tax matters for my LLC and me personally. [more inside]
posted by drjimmy11
on Aug 7, 2013 -
I have looked at previous questions but truly don't understand what I am actually needing enough to judge suitability. Here's what I have and what I need. I don't know what to track (in the finer sense) or how best to track it but I have a fair bit of money coming in and out and I'd like to know if I am ahead this year and also whether I have (for instance) enough tax room to upgrade stuff that I can write off (ie new Macbook Pro, specific software for my stuff, specific hardware etc.). [more inside]
posted by Brockles
on Jul 26, 2013 -
A local politician has an unpaid $500,000 tax bill associated with a business he owns. I'd like to find out more details on this. [more inside]
posted by foggy out there now
on Jul 8, 2013 -
For boring, complex, tax-related reasons, I have more than $4,000 which must be spent on goods or services in the next week. What vouchers, memberships, services or products should I buy to put the money to good use and hopefully make the next year awesome? (In Sydney, Australia or online).
. [more inside]
posted by embrangled
on Jul 3, 2013 -
Hello! I am an independent contractor (1099 Misc form) for the first time in my life and need some tax advice as the budget is a bit tight!
Therapy, acupuncture, bicycle, insurance, computer, etc. How do deductions work? [more inside]
posted by Danah_78
on Jul 2, 2013 -
I'm working on a few apps and I'd like to form an LLC. What complicates matters is that I plan to travel the world for the next few years, meaning that all my work will be done from my laptop with no stable office and no employees other than myself. I'm currently based in California. What are some good resources to help me figure out the best way to establish my business, both financially and legally? [more inside]
posted by archagon
on Jul 2, 2013 -
I am thinking of retiring early, relatively soon. Probably within five years, maybe much sooner. I want to make sure that I correctly understand various things, so I have several questions related to taxation, Obamacare, health savings accounts, IRAs, and SEPP. [more inside]
posted by Sock McPuppet, Jr.
on Jul 1, 2013 -
I'm in London UK and I'm working for as an independent consultant for some businesses in the UK and Overseas (non EU). Currently I'm trading under my given name but I'm wondering if I can just start using a business name instead. just for the appearance of more "professionalism".
Can I just start using "XYZ Consulting" as my business name on contracts and invoices etc? Or do I have to do I have to register something. I"m not that fussed about limited liability etc. [more inside]
posted by mary8nne
on Jun 28, 2013 -
After you've incorporated, what are the daily, monthly, and yearly behaviors and fees associated with having an LLC? [more inside]
posted by zeek321
on Jun 22, 2013 -
I am about to send some used personal effects to the US from Europe. I'm sending four boxes of used books and clothes. Each box weighs about 20kg. What should I put on the customs label? In particular, how do I estimate the value of used personal effects? Is it zero? I don't care about insurance/replacement value, I just want to minimize/avoid customs charges. If it matters, I'm in Germany, and will be sending by DHL. I'm a European citizen who will be moving to the US for three years with a J-1 (academic) visa. [more inside]
posted by caek
on Jun 18, 2013 -
I've had a difficult time figuring out my tax situation since I moved from the US and now I'm trying to get everything settled. I'm behind a few years and need someone to talk directly with the IRS on my behalf. Will I need an enrolled agent? A tax attorney? Both? Neither? Arg it's so confusing! [more inside]
posted by tacocat
on May 20, 2013 -
I've been doing a fair bit of freelance work, and it's to the point now that I have to sub out certain tasks that are outside my area of expertise. I don't want to make my clients cut multiple checks if I can avoid it–want them to just deal with me to keep it simple and neat.
However, I do not want to be on the hook for income that is actually going to a sub. What to do? [more inside]
posted by Mister_A
on May 17, 2013 -
I live in (and am a citizen of) Canada, and have recently mailed important tax information to the US IRS and Treasury Department via the regular Canada post. Should I re-mail that information to ensure that it made it to the proper destinations? [more inside]
posted by mbarryf
on May 2, 2013 -
I'm seeing reporting that bothers me that my state tax authority is targeting artists for auditing based on what sounds like some specious assertions regarding whether their business models and expenses are appropriate. I realized I don't know what I should do to formally protest these actions. [more inside]
posted by Luke Skywalker
on Apr 30, 2013 -
My employer paid me separate checks for my regular hours and overtime hours, and the overtime was not taxed. Is this cool? [more inside]
posted by secretdawn
on Apr 23, 2013 -