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622 posts tagged with Tax.
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excel income tax calc help

Excel help: I'm trying to input a dollar value into a cell and have the output be the federal income tax for that amount (just using the brackets). Federal income tax is calculated such that the first x dollars are taxed at rate R, the next y dollars are taxed at rate S, and up through several different rate brackets. I can do this calculation with a simple IF statement using multiple cells by summing the result of 5 separate bracket calculations. I'm not sure if I can cram it into one giant formula. Suggestions? [more inside]
posted by leotrotsky on Oct 13, 2012 - 4 answers

New York State Sales Tax headaches for a clothing retailer

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]
posted by Muffy on Oct 11, 2012 - 8 answers

I'm a Filipino citizen in the Philippines, how can I get an ITIN?

I'm currently a contractor for a U.S. based website which has just changed owners. The new owners now require all contractors to send updated IRS forms 8233 and W-8BEN. I'm a Filipino citizen residing in Manila. I do not have an ITIN - this was never required of us before. The new requirements presuppose that I have an existing ITIN. [more inside]
posted by micketymoc on Oct 7, 2012 - 6 answers

Take my deductions -- PLEASE!

Does Romney want to remove deductions for 401k to help pay for his 20% "across the board" tax cut? [more inside]
posted by bionic.junkie on Oct 2, 2012 - 9 answers

Looking for a cross-border Canada/US tax expert

Recommendation for cross-border Canada/US tax expert (in Bay Area, or other)? [more inside]
posted by Chaotic Bedlam on Sep 28, 2012 - 1 answer

Tax on Early iRA Withdrawal

Looking at cashing in a post-tax IRA for purchase of a second home. Realizing there are tax and penalties to be applied, this still may make sense. Because the IRA funds are post-tax, however, what exactly will be our total tax liability be? [more inside]
posted by flyingrock on Aug 26, 2012 - 2 answers

Why not lower income taxes and increase capital gains taxes?

Has there been any serious discussion or analysis of "swapping" capital gains tax rates (by raising them) and income tax rates (by lowering them)? [more inside]
posted by AgentRocket on Aug 21, 2012 - 12 answers

Negotiating on benefits: Sure, you can supplement my take-home pay with chocolate.

I know how to negotiate on salary. Tell be about negotiating on benefits. What have you asked for and received that really sweetened a job offer for you? [more inside]
posted by embrangled on Aug 16, 2012 - 7 answers

Am I going to be audited?

So I was just wired ~$23,000 into my checking account from a foreign bank. How much (if any) tax do I have to pay on this? [more inside]
posted by anonymous on Aug 16, 2012 - 12 answers

Seeking helpful tax professional in Durham/Chapel Hill?

It's time to hire help for tax stuff. Any recommendations (including self-recommendations, if you want) for someone around Durham-Chapel Hill, NC? Need help with: working in multiple states (NYC, RTP), lots of travel & business expenses (probably including deductions we don't know about) and maybe other stuff. [more inside]
posted by amtho on Aug 2, 2012 - 3 answers

How does the property value really affect me?

Home value dropped - does it really matter? [more inside]
posted by smelvis on Jul 31, 2012 - 9 answers

Accounting for Pennies

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?
posted by Jagz-Mario on Jul 30, 2012 - 15 answers

Selling Real Estate, and Not Buying Again Immediately

My house sold earlier this month. I am not buying a new house right away, but... maybe? How long can I wait? How will this affect taxes? And if I could buy property, should I in order to avoid penalties (if there are any)? You are not my lawyer or my accountant, but way more details with a little bit of drama after the jump. [more inside]
posted by aabbbiee on Jun 28, 2012 - 10 answers

Can you recommend a tax consultant for an American ex-pat in the UK?

I'm seeking recommendations for tax consultants in the UK, or in the US, or maybe both, to figure out where I need to pay taxes. [more inside]
posted by olinerd on Jun 19, 2012 - 2 answers

As the sole shareholder of an S-Corp, is it my responsibilty to file the corporation's taxes?

Please help me settle a debate... who is responsible for filing a corporation's tax forms, a sole shareholder or an officer? [more inside]
posted by Swede78 on Jun 5, 2012 - 5 answers

Common Law, Taxes and Immigration in Canada without SIN

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]
posted by anonymous on Jun 2, 2012 - 3 answers

You are not my estate lawyer, finance lady, or tax guy. Can you help me find that person?

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]
posted by anonymous on Jun 1, 2012 - 14 answers

Are we wrongly telling our participants that they don't get taxed?

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!
posted by two lights above the sea on May 24, 2012 - 6 answers

Tax issue or nonissue?

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]
posted by anonymous on May 2, 2012 - 13 answers

Can I make gifts to my spouse to equalize our taxable incomes?

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?
posted by East Manitoba Regional Junior Kabaddi Champion '94 on Apr 30, 2012 - 7 answers

Home based business tax write offs when you don't own the home

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]
posted by blubutterfly on Apr 29, 2012 - 1 answer

Do we have to repay the first-time home buyer credit? [scenario 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?
posted by idyllhands on Apr 26, 2012 - 5 answers

Does my accountant have to give me a copy of a past tax return?

Is my accountant obliged to give me a copy of a past business tax return if requested? [more inside]
posted by teedee2000 on Apr 26, 2012 - 5 answers

Australian with US investments

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.
posted by Joe in Australia on Apr 23, 2012 - 2 answers

I've stumbled into a fairly successful business. What's next?

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]
posted by lackutrol on Apr 18, 2012 - 2 answers

How do you cope with tax inequality?

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]
posted by anonymous on Apr 17, 2012 - 17 answers

AMT 2012

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]
posted by anonymous on Apr 17, 2012 - 2 answers

Help me have more of my income withheld for taxes!

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]
posted by royalsong on Apr 16, 2012 - 19 answers

Do I need to file a 1040X? How does that affect my state tax return?

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]
posted by estherbester on Apr 16, 2012 - 4 answers

Does this seem like a virus threat?

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?
posted by dougiedd on Apr 11, 2012 - 8 answers

Historical Tax Data - someone has it somewhere, right?

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]
posted by tilde on Apr 11, 2012 - 13 answers

Is paying my taxes in installments a bad idea?

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]
posted by ablazingsaddle on Apr 10, 2012 - 21 answers

How to figure out what to charge for 1099 work?

How to figure a contract rate for 1099 work? [more inside]
posted by needlegrrl on Mar 29, 2012 - 10 answers

Receipts

Question about proper saving of e-mail and web receipts in case of an IRS audit. [more inside]
posted by crapmatic on Mar 21, 2012 - 3 answers

tax consulting services

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 : hrmnm@gmx.com
posted by anonymous on Mar 13, 2012 - 10 answers

Collecting out-of-state unemployment while living in New York

If I collected California unemployment benefits while living in New York, do I have to pay taxes to New York? [more inside]
posted by Flying Saucer on Mar 11, 2012 - 6 answers

AMT, not ATM

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.
posted by benbenson on Mar 7, 2012 - 5 answers

Primary residence NH MA

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]
posted by spacefire on Mar 1, 2012 - 15 answers

Documenting tithed amount/donation; need to keep records under a certain percentage?

What amount of my income can I claim as tithed/donated without having to have receipts or a paper trail? [more inside]
posted by anonymous on Feb 27, 2012 - 8 answers

Is it possible for a currently-credit-troubled person to get my LLC off the ground?

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]
posted by anonymous on Feb 27, 2012 - 11 answers

Set up LLC now or later

Asking business question about setting up LLC and tax savings [more inside]
posted by akomom on Feb 27, 2012 - 5 answers

Being pressured by my company to sign legal documents

Being pressured by my company to sign legal documents. This seems very not okay. [more inside]
posted by anonymous on Feb 22, 2012 - 16 answers

Work visa in the USA

Can I apply for a visa to work with a company that I create in the USA? [more inside]
posted by anonymous on Feb 20, 2012 - 5 answers

How to make a loan to a family member?

Where can I find a good contract template for a loan between two family members? What about the tax implications? [more inside]
posted by StickyCarpet on Feb 15, 2012 - 1 answer

Loopholes for tricking the taxman

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]
posted by shipbreaker on Feb 6, 2012 - 17 answers

Sales tax in Tx

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.
posted by flipmiester99 on Feb 5, 2012 - 3 answers

What do I owe Her Majesty the Queen?

Help an American citizen with British income tax on book royalties. [more inside]
posted by bad grammar on Jan 31, 2012 - 6 answers

I'm pretty sure the Bluth family is a terrible role model here

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]
posted by Harry Potter and the Puppet of Sock on Jan 30, 2012 - 26 answers

Can you help with this Canadian GST/HST dilemma?

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]
posted by PersonPerson on Jan 27, 2012 - 23 answers

Which boxes are perfect for storing receipts?

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]
posted by banished on Jan 25, 2012 - 6 answers

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