A friend of mine and I would like to self-publish a book together on Amazon. How do we split the royalties when Amazon only allows one payee and how do we deal with the tax implications? Added complication: one of us is the U.S., the other is in Canada. [more inside]
This year for the first time ever my tax return is $0, though last year under very similar circumstances I got almost $1000 back. I'm well below the poverty line. Is there some way for me to get someone to check over my tax return for free? [more inside]
For pretty terrible (and irrelevant) reasons, I haven't filed my taxes in (I think) 5 years. Now I really really need to do them, but I don't know how to start and I get panicky just thinking about the insurmountable piles of paperwork, potential money owing, and even criminal charges. I'm in QC, Canada. If anyone else has dealt with late filing or voluntary disclosure in Quebec, please help! [more inside]
I'm dealing with the tax ramifications of a bonus clawback, and it's ugly. I'd like get a feeling for just how ugly it's gonna get. Would any MeFites please share their US compensation clawback experience? I understand none of you are my accountant and that none of you are offering specific tax planning advice.
My payroll taxes were messed up. You are not my accountant or tax lawyer, but what/how do I need to file? [more inside]
You are not my tax person. My tax person is not German. How can I find someone qualified to answer a question about whether I, a US citizen resident in the US, need to pay taxes in Germany on a small amount of income from a contracted work? [more inside]
How do (Canadian) taxes work for non-resident citizens, if they work for a short time in Canada? [more inside]
I recently received some money (less than $50K) from an annuity held by my late mother. No taxes were withheld at the time. I'm pretty sure I need to pay income tax on this money -- do I need to pay it now, as an estimated tax? (This is in the U.S.) I seem to recall reading that if I wait until next April I may be subject to some kind of penalty. What I think I need are links to info -- I'm not readily finding what I want to know at the IRS website.
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]
Suppose someone has the ability to work 100% remotely in the US for a company as a 1099 contractor. He has a permanent residence in state A. If he travels around the country over the course of the year, 3 months at a time in a new state, would he need to pay some state income tax for each state, or would he pay state income tax for state A only? If my thinking is correct, that it depends on state law, then how is this enforced if he is, say, living in an RV?
Yay! I finally sold my house and have the check from the title company in hand. I made money on the sale of the house, but I have a few questions about how to maintain my investment. For tax purposes, does this qualify as "income"? Will I be assessed a Capital Gains Tax? Is a money market the best place to keep the cash from the sale? Please help a money noob... [more inside]
My brother had access to my late grandmother’s banking accounts. She passed away two years ago. My mother mentioned several months ago that there was still some outstanding money to be distributed to beneficiaries from the estate. Around $5k had been reserved in case there were any outstanding fees or taxes to pay. [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.
Where do I go online or irl to get specific federal income tax questions answered? [more inside]
Free online tax filing that allows a Schedule K-1? [more inside]
Am I saving enough for taxes from my second job? I live in the US and have no state income taxes. My main job is W2. I make around $56k and usually end up close to even on my Fed return. I now have a second job that's 1099. I get paid $150 a week and set aside $50. Is this probably enough for Fed (income/SS) taxes?
BC'ers - how do you calculate the rate of income tax you should be paying? After googling I'm coming across wildly different rates for brackets, as well as terms like 'average rate' and 'marginal rate' (what are these? The internet doesn't want to tell me!) I normally do my own taxes at home (UK) but am being driven round the bend trying to get the figures for this.
My husband and I just switched our legal residency to a state with no income tax (South Dakota). This is very common amongst full-time RVers because SD recognizes a full time travel status. However, we're neither working nor living in South Dakota, so how do state taxes work? [more inside]
SO has job offer 1800 miles away in beautiful California. Yesterday we were told by friends to expect over 50% of his salary to be taxed, leaving us with net income not far from what we make now in landlocked midwestern state. Should we be concerned about being destitute if we take this job and make the move to Ventura County? [more inside]
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]
My boyfriend's tax refund check was mailed over a month ago, according to Where's My Refund. We have surpassed the 28-day waiting period before one can file a claim for a missing or lost refund check. Does anyone know about how long it might take for the lost refund claim to be processed and the refund to actually be received? Also, he's wondering if he can change his mode of receipt from mail to direct deposit, to speed up the recovery. If you have experience in this arena we'd love to hear about it. [more inside]
I feel like this should be really easy, but I'm coming up with a non-sensical result. I am considering taking a job that would involve a pay cut (long story, I promise it's worth it). I am trying to calculate what my actual paycheck would be. I'm using the paycheck calculator at Paycheckcity.com to figure this out. But the number it's giving me for California state income tax doesn't seem right. [more inside]
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]
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?
I have never completed a US tax return before I would love some suggestions on things to watch out for, hints and tips or most important of all links to websites with good beginners information for filing your own returns. More info follows. [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 way short on my estimated quarterly federal taxes this year, am freaking out, and need some honest insight into how much trouble I am in. [more inside]
USA federal income tax question relating to AMT and state income tax refunds. Very much a #firstworldproblems sort of thing. [more inside]
My mortgage company overpaid my property taxes and is aware of the overpayment. On my 2011 income taxes, do I deduct the actual amount due, or the amount paid? [more inside]
I am a US citizen who has been living and working in Canada for the past 10 years. I have not been filing tax returns to the IRS since 2001. [more inside]
Why am I/things taxed so much? [more inside]
My wife is looking into reporting her boss for miscategorizing her as an independent contractor. I'm quite sure she has been; her boss has even referred to the staff repeatedly as employees. (In materials we have saved.) We're looking for an employment attorney right now, but I've just got a couple preliminary questions to understand how this works. [more inside]
Where can I find data on US federal income tax brackets by congressional district? My goal is making a fairly accurate statement of the form "Congressperson X represents a district where Y people are in tax bracket Z."
I did our taxes through TurboTax. I thought they transmitted correctly. They didn't. I just realized this. So are we going to jail for tax evasion? [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]
I've got to file my income tax return. The catch? I'm working a one year contract in France and therefore am going to have to do it in a language I'm not particularly good at, with other complications detailed inside. Does anyone have any experience with this? Or alternatively, does anyone know what kind of person I'd need to employ to help me with it? (Accountant? Financial advisor?) [more inside]
Has someone who is 60 and started work at age 20, having worked minimum wage their entire life, ever actually paid USA federal income tax? [more inside]
Is this money considered a gift or income, and how do I claim it on my Canadian income tax return? [more inside]
[TaxFilter]: I will only be working half of 2010 and want to adjust my Federal and State/City (NYC) withholding appropriately. Help! YANMAccountant, YANMLawyer, YANM* [more inside]
To which of four states do I need to send a tax return this year? [more inside]
You buy a house in California. You agree that the seller can stay up to 2 months after escrow closes (a "seller rent-back") if they make your (PITI) payments. Do you need to pay income taxes on the money they pay toward your PITI? Also, what was your "seller rent-back" experience? [more inside]
My funds to pay my (large) tax bill might not clear into the account I transferred them to until April 16th or 17th. What can I do to prevent the IRS from getting angry that they can't do the desired electric withdrawal on the 15th itself, or my bank getting pissed that the IRS trying to withdraw funds that just aren't there (yet)? [more inside]
TaxFilter: Any reason not to file IRS form 8832 for my LLC to be treated as a corp? Need to decide soon. [more inside]
Self-employment tax help for out-of-state web work [more inside]
Explanation and advice needed on how to figure out taxes and withholding now that I'm married. [more inside]
[Tax/Stock Filter:] Employee Stock Purchase Plan advice especially in re: taxation [more inside]
Investing 201: Given the economic news of late, If the value of my mutual funds drop and the interest rate of my debts go up would it be prudent to liquidate the mutual funds to pay off my debts or should I "stay the course" despite this? Financial details inside... [more inside]
I'm Canadian. I was lazy, and forgot to file my tax returns for the three previous years. I also lost all of my T4 slips, and some of my work was done for companies that no longer exist. Am I up the creek without a paddle? [more inside]
How do taxes work for a Canadian citizen producing creative content for an american publication? How about a Canadian providing 'e-training' to an American? [more inside]
I think that the online tax service I used has messed up the New York State taxes for *anyone* who filed from New York City or Yonkers. Now what do I do? (sorry, long) [more inside]
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