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]
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.
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]
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]
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!
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]
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]
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]
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]
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]
My partner has not worked at all in 2012. He did not work much in 2011. (He had some income in January.) We are not married or civilly unioned or anything “official.” However, for the last two years, he has qualified as my dependent and I have filed accordingly. Last year, this felt tricky because we were concerned about where the income cut-off was, and he filed as usual, but reporting himself as my dependent. This year did not feel tricky at all because he had no income at all (no employment, unemployment, no disability, nothing), so as soon as I got my W-2, I filed and got my refund and put it out of my mind. Until this morning as we headed out the door to work/doctor's appointment, when he asked “wait, when you did your taxes while I was in the hospital, did you file mine?” Oops. [more inside]
Do the confirmation e-mails for e-filing federal tax returns with Free File Fillable Forms contain sensitive information? [more inside]
I've paid my back taxes for New York State as of last year, but the judgment is still on my credit reports, although marked "paid". This is my only ding. Will landlords refuse to rent to me anyway? [more inside]
A friend in the same field as me, who was underemployed last year, helped me on a project last year. Over the whole year it was a total of 32 hours (I paid him at $50/hr). Now he's asking for a W2. I think it's pretty clear that he was not an employee (W2), but rather an independent contractor (1099). Aside from inventing a time machine to go back and clarify the terms (which I didn't think would be a problem, considering our friendship), what should I do here? What's at stake?
Looking for a referral for a tax preparer for personal and small creative business. I am located in Los Angeles. [more inside]
How do you handle the labyrinth of New York State sales tax? I'm launching an online business that sells goods (some clothes, some non-clothes). We're located in New York State. We need to collect tax in New York State... gorey details inside. [more inside]
At some stores (the convenience store around the corner), the price I pay always comes out to a round(ish) number. Either ending in a 5 or a zero. So that the change I am given won't have any pennies in it. This is convenient for me and the person behind the register. At other stores, there seems to be little interest in getting those round prices. A purchase is just as likely to end in .68 as .50. Why does the consideration of coins influence the pricing of some stores and not others?
I'm tired of getting screwed over on my taxes. I have two jobs, one of these jobs will not take taxes out with each paycheck. How do I arrange my other job to take more out to cover this? [more inside]
Tax panic! I e-filed my 1040 federal return a few weeks ago; then, while finally tackling my state tax return last week, I discovered I'd incorrectly transferred an amount from one of my additional forms into the 1040. Do I need to file a 1040X to correct this, and how do I proceed with my state return? [more inside]
I purchased some software recently from a company txf.express designed to help create an 8949 form for stock trades. It seemed that it was improperly calculating a few numbers, and upon my questioning the software creator asked for my trading history to review the data and look for errors. He then sent me a .piz file and asked that I rename it to a .zip file and open it for a properly functioning program. My limited understanding is that " if you receive a piz file in an email and you are not familiar with the person who is sending it or are unsure of why they are sending it, do not change it to a zip file and try opening it. This could result in infecting your system with a computer virus." Are their legitimate reasons why he should be sending a piz file and asking me to rename it?
OMGTaxFilter question about historical tax costs. Historical stock price research? Why can't a company keep track of it's own stock price? Why can't I look up an old stock cost price on a recently defunct stock ticker? [more inside]
How to figure a contract rate for 1099 work? [more inside]
If I collected California unemployment benefits while living in New York, do I have to pay taxes to New York? [more inside]
I am single, rent, and payed AMT for 2011. If I owned my own home and had a mortgage, would I have been able to deduct the interest, or is the fact that I payed AMT a sign that no further deductions were available to me? I have few deductions but itemize because my state tax alone is more than the standard deduction. You are not now, and will never be, my accountant.
Asking business question about setting up LLC and tax savings [more inside]
Tax Question: I'm getting paid to do art in another city. Is it more sensible to use my travel stipend or my credit card points to pay for the flight? [more inside]
I own a lot of shares in a company that has done very well on the market recently. So well in fact that if I sold it all now, I could divide the proceeds equally between my two kids and set them both up for college — something my parents couldn't do for me. However, my oldest child won't be ready for college for another 12 years. Is there any way to convert the stock shares into something less volatile than the market, without incurring capital gains tax? My kids both have 529 funds and I'd love to be able to move the stock there but I want to avoid the IRS as much as possible. Yes, I am naive and ignorant of the finer workings of finance, so please be gentle.
Please tell me exactly what I need to do to catch up on filing the tax returns that I didn’t complete for the last 4 years as a US citizen living abroad. [more inside]
I'm curious about the theoretical tax situations of characters from The Wire. [more inside]
Until this year, my wife and I have been salaried employees with large organizations. This year, she has become a contract employee for the first time, and neither of us knows much about the process of paying taxes (Social Security, Medicare, and income) in that mode. [more inside]
I'd been wanting to form a corporaton for a long time. So many benefits it seems:
track business expenses for income-tax deductions
protect assets against law-suits
gain credibility for certain transactions
But all the gory details are getting me down... [more inside]
Testing your powers of deduction (groan).... do you know a US based accountant who is proficient with foreign income, or an Australian accountant proficient in US returns? [more inside]
I just realized I made a mistake on my NJ state income tax return *after* I e-filed it with TurboTax. The mistake turns my refund into a payment. Should I wait until the incorrect refund clears and then file a 1040X, or just file the 1040X immediately? [more inside]
My 2010 was the first complicated tax year I've had- bought a house, and wondering whether the HR Block online filing is still sufficient, or if I'll need and want a professional- and if so, where to find a good one in the Capitol Hill/Seattle area this weekend. [more inside]
Canada tax: Question about timing of RRSP contributions. Did we mess up? [more inside]
I am filing tax returns for a number of prior years. One of those years was spent renting an apartment, but having almost no income whatsoever to claim. Rent was paid through a variety of means (read: help from parents). It was one of those years. Do I claim the rent paid? [more inside]
How much does the corporate tax rate really affect jobs? [more inside]
How do I file taxes? [more inside]
How do you know if a delivery company like UPS or Purolator will charge you for delivering something? [more inside]
Do I need to start using an accountant? [more inside]
Are flexible spending plans a racket? Where I work we have a benefit called a "select benefit account" which seems to be called a "flexible spending plan" other places. We can add pre-tax money to an account which can be used for medical expenses. If the money isn't used in the year, then "you lose it". The tax benefits of this plan are obvious. What isn't so obvious is where that money is going when it is lost. Who is making money off this? [more inside]
I'm self-employed, and looking for a formula for dividing up my income. I am currently in the UK, and just about to file my first tax return since I've been here. Once I know what tax will actually cost me in this country, I would really like to have a sense of where the rest of my money should go. [more inside]
Are most U.S. citizens looking at a federal tax hike next year? I can't seem to find reliable data on this. Would such a hike apply to money earned 2010 or 2011?
My BIL claims that insurance settlements for injury are not taxable income in the Commonwealth of Massachusetts. I can't believe the state doesn't overfish that particular revenue stream. So, is it taxable income or not?
My CPA didn't do my taxes. What's the best way to proceed? [more inside]
How do I claim taxes working as a salaried IT consultant? I have a client in another state that I travel to on a weekly basis. [more inside]
Is the out-of-pocket cost for a new dental crown an acceptable expense for an HSA, if I already have dental insurance? If it is "denied" as an acceptable expense, what happens? [more inside]
How can this unfair income tax situation be resolved? [more inside]
My tax preparer reported I contributed more to my Roth IRA than I actually did. Does this matter? [more inside]
In 2009, I made less than $9000 at my part-time job. Do I need to include this income when filing my taxes? [more inside]
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