Please help me settle a debate... who is responsible for filing a corporation's tax forms, a sole shareholder or an officer? [more inside]
My common-law partner and I are in the process of filing forms for her sponsorship of me to receive permanent resident status in Canada. She changed her marital status to common-law on her most recent tax forms (we have been living together since 2009). She is now being audited by Revenue Canada, since this reflects a change from her last tax return and how her GST/HST refunds are calculated. [more inside]
Grandma set up an uneven trust and we want to distribute it equally. Who do we talk to and what do we ask them? Questions about imbalanced inheritances, DIY redistribution of wealth, and taxes within... [more inside]
I'm trying to find information about taxes and volunteer paid experimental (non-clinical) studies. I work in a lab, and one of our participants told us a week ago that if a study pays (the volunteer) over a certain amount, it gets taxed. Can anyone tell me if this is true and give me an official link? We're in Philadelphia, PA, USA. I can provide any other relevant information you need. Thanks!
I think someone (semi-falsely, read on) wrote that they paid me a nominal amount on their tax return filed this year. I did not file, and did not need to. Several questions about filing, residence, and liability follow, somewhat NYC specific. [more inside]
My wife and I file our federal taxes jointly but our Iowa taxes separately. She works part-time and has a fraction of my income. It appears that we would pay lower state taxes if our income was split more evenly between us. Can I make gifts to her (of cash or perhaps shares), deduct them from my taxable income, and add them to her taxable income?
Can you write off renovations to your home on your taxes for a home based business if you don't own or rent the residence? [more inside]
I am buying a new house in my name only. My wife and I received the 2009 $8000 tax credit for first time home buyers, and have not lived here the required 3 years. The house was purchased in her name and she will be staying at the old house. Do we still have to repay the credit?
Is my accountant obliged to give me a copy of a past business tax return if requested? [more inside]
What sort of things should an Australian living in Australia know about owning an investment (e.g., an index fund) in the USA? The investment would be part of a retirement fund that has a low (15%) tax rate in Australia.
How to be the best digital content consulting guy I can be: taxes, subcontracting, incorporation, fees, etc. Your thoughts on freelancing business stuff? [more inside]
I'm broke, can't find work, and owe more taxes than Bank of America. Help me deal with the financial and emotional fallout. [more inside]
Estimating tax payments for 2012. According to the 1040-ES instructions, the exemption for the alternative minimum tax (for married people) is only $45k, down from $75k in 2011. I don't itemize and will have an adjusted gross income above $45k. Do I need to budget for the AMT? [more inside]
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]
I have a bigger tax bill than I expected, and I'm wavering between putting it all on a credit card and using the IRS installment plan. Have you put your taxes on a credit card? Have you paid through an installment agreement? [more inside]
How to figure a contract rate for 1099 work? [more inside]
Question about proper saving of e-mail and web receipts in case of an IRS audit. [more inside]
I'm in a situation with some unfilled taxes and potentially more back taxes then I can pay at the moment. I've seen ads for tax consulting services that help you talk to the IRS. I've also seen some negative reviews for some of them, but was wondering if someone has some positive experience with any of these and can make a recommendation? My throw away email is : email@example.com
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.
I am currently living with my parents in NH.I just moved here from NJ. My job will be in MA. I just bought a car in NH and will be registering it here tomorrow. I plan to eventually (less than 6 months in the future, this question might come up) rent a place near Boston in order to be closer to work on days I might have to work late and to be able to socialize and party in a more urban area without driving sometimes on weekends or weekdays. It seems that if I make this future dwelling my primary residence, in MA, I will have to pay a bunch of money on car sales tax and registration conversion. I will be spending a few days (3 maybe) a week at my parents place anyway. Is there any legal way to keep this address in NH as my primary residence, while being able to also rent a place in Somerville or Cambridge and park there? [more inside]
What amount of my income can I claim as tithed/donated without having to have receipts or a paper trail? [more inside]
Will I have to undergo a credit check in order to form an LLC and open a business checking account for that company? [more inside]
Asking business question about setting up LLC and tax savings [more inside]
Being pressured by my company to sign legal documents. This seems very not okay. [more inside]
Can I apply for a visa to work with a company that I create in the USA? [more inside]
Where can I find a good contract template for a loan between two family members? What about the tax implications? [more inside]
My aunt seems to be laundering her income through a 501(c)(3) charity which she is the secretary and treasurer of. Is this legal? [more inside]
TaxFilter: Should i be charging sales tax when i do computer work for someone? Not selling any parts, just service such as removing viruses, installing software, reinstalling OS, etc... Im in the State of Texas. Thanks in advance.
Help an American citizen with British income tax on book royalties. [more inside]
I'm inheriting $100,000. My parents are inheriting a lot more (around $1mil, but we're not sure the exact amount). Please give us advice. We're in the US (New Mexico). [more inside]
Canadian tax question: I quoted a client for a job, and neglected to specify whether GST/HST is included. They think the price should be understood as including GST/HST. I think it should be understood as excluding GST/HST. Is there some external standard to resolve this? [more inside]
I am looking for the perfect boxes to store receipts. I really like these, but I am not in the market to order 1000 pieces and I cannot find an office supply company that sells something similar. [more inside]
What is the catch here. Business creating a seperate LLC for company cars. [more inside]
Many moons ago, my parents took out a loan against a whole life insurance policy on me. Now the policy is underwater and the insurance comapny wants to terminate it and I'm taking a tax hit. Can I avoid this? [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]
argh!! nooooooo!! my amazing tax accountant has decided to retire and is leaving me without any referrals. can anyone recommend an awesome tax accountant, bonus points for specializing in working with creatives. [more inside]
US-ian Tax questions: After a long hunt, this year I finally found a job (yay) several time-zones away from my husband and family (boo). The travel, additional housing, etc costs have consumed a lot of my income. Are any of those additional expenses potential write-offs for my taxes? [more inside]
[Canada Tax Filter] If my parents loan me money to pay back a non-government student line of credit from a bank, and I pay them a portion of the principal each month, are there any negative tax implications? [more inside]
If you pay estimated taxes and then end up not owing those taxes, do you get them back? [more inside]
Off the top of your head, what are the potential pitfalls with a friend giving me a regular gift of money? [more inside]
My boss wants to change my holiday allowance. Ignoring how good or bad a deal this is, is it actually legal? Does it have tax implications? [UK specific] [more inside]
My friend is being being influenced by internet crackpots. How can I get him to listen to reason? [more inside]
Tax question: How do I determine the value (if any) for a donation write-off? [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]
Please refer me to a NYC-area tax accountant who specializes in arts/freelance clients with horrid IRS debt and deep financial shame.