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?
posted by Anonymousness
on Jan 30, 2013 -
14 answers
What's the best place to live on a low budget given a life-consuming job in Manhattan near Madison Square Park? And how low can I go both before and after unintelligible-but-critically-important-tax-stuff?
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posted by ch3cooh
on Jan 6, 2013 -
21 answers
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...
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posted by anonymous
on Jun 1, 2012 -
14 answers
If you pay estimated taxes and then end up not owing those taxes, do you get them back?
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posted by doomtop
on Dec 9, 2011 -
7 answers
Unexpected inheritance of $100,000 - $150,000 complicated by move from the US to the UK in the next year. My wife and I have never dealt with financial matters beyond credit cards and a moderate paycheck before, who do we talk to in Los Angeles/Southern California to make sure we don't screw this up?
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posted by anonymous
on Feb 1, 2011 -
18 answers
Help! Looking for UK resources for my partner with ADHD who can't cope with admin, legal and money matters and who's frustrated at every turn by companies insisting they will only deal with him and that other people can't do things on his behalf.
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posted by Flitcraft
on Nov 6, 2010 -
15 answers
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.
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posted by wingless_angel
on Oct 18, 2010 -
2 answers
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.
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posted by jwfree
on Jun 2, 2010 -
2 answers
I’m a student and it’s tax time. I work for my school (work study) and to help make ends meet I do consulting work (web programming) for a few reputable clients (meaning they don’t pay under the table). The problem with consulting work is that I get hammered come tax time. The 1040s are unforgiving.
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posted by anonymous
on Apr 9, 2010 -
15 answers
Asking on behalf of a friend who is silly enough to not have a MeFi account, but smart enough to know she will find answers here: "I am a freelance translator and I'm about to finish a big project for a US based company. The job is quite complex and long, so a fair amount of money is going to come my way. I have been moving around for the past 2 years, so I am not quite sure how to handle the invoicing / taxes. I'll explain my current situation and I would appreciate any advice, insight, etc.
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posted by mjewell
on Mar 16, 2010 -
5 answers
I have a good friend who's getting screwed by his (soon to be former employer) re: expenses and payroll taxes. What's the best way to resolve this situation?
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posted by anonymous
on Apr 28, 2009 -
4 answers
My partner and I need to pay off some debt, and unfortunately we need to dip into our retirement funds. Our tax accountant is on vacation and we can't find the answer to our question. We have two sources–either sell some stock or cash out a couple of short-term IRA CDs. Which is the lesser of two evils?
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posted by al_fresco
on Dec 13, 2008 -
11 answers
If you had a very strong incentive to invest money before the end of the year with a 30-year outlook, and a further strong incentive to not adjust your investment strategy over that timeframe unless absolutely necessary, what kind of portfolio would you assemble?
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posted by anonymous
on Dec 5, 2008 -
15 answers
With all the bickering over taxes in the election campaign, I'm trying to get a broader picture of US income tax history, theories behind past policies, and analysis of how they worked (in idiot friendly language).
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posted by p3t3
on Oct 17, 2008 -
4 answers
What is the best financial/tax situation for us? Kid on way, financial aid eligibility concerns.
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posted by anonymous
on Jul 2, 2008 -
4 answers
Foreign Money Tax Filter: This is likely a silly question, but please humor me. Money sat in an interest-friendly account overseas for 20 years, was finally all withdrawn this year....
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posted by paperlanterns
on Apr 13, 2008 -
5 answers
What date acquired and cost basis should I put for two items reported on a 1099-B, when there are several unknowns?
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posted by daisyace
on Apr 10, 2008 -
8 answers
LegalFilter: My ex-wife is trying to screw me out of claiming my daughter on my taxes. What are my options?
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posted by raddevon
on Feb 7, 2008 -
21 answers
Tax planning advice for the self employed. The web is full of articles, the bookstores are full of guides. But there is so much "get rich quick" and "pay zero taxes" crap out there that I am not sure where to go for good, solid tax planning advice.
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posted by Nothing
on Mar 26, 2007 -
5 answers
Are there any US citizens here who have lived abroad but did freelance or contract work for clients in the States who can share their experiences?
I am a US citizen living in Australia as a Permanent Resident since 2001. I have just gotten some freelance work from the States and need to figure out who I need to talk to on which shores to figure out the details.
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posted by anonymous
on Mar 13, 2007 -
10 answers
How do tax credits work? My husband and I both bought Priuses early this year (well before the 60,000 mark), and we get tax credits of $3,150 for each car. Which is awesome, but...
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posted by Lyn Never
on Oct 20, 2006 -
9 answers
I have a chunk of change that I am trying to make earn more than the small interest in my savings account. Can anyone speak to the tax implications of someting like an ING Direct savings account - which is offering a promotional yield of 4.0% - vs. something like a money market fund, which lately seems to yield in the range of 3.8 - 4.3? Help me make my money work for me!
posted by xmutex
on Mar 18, 2006 -
15 answers
Does a company like
37Signals /
Basecamp have to charge its users for sales tax? Looking at
Basecamp, they charge different monthly rates for associated tiers of service. I would imagine they have customers from all over the States, as well as different countries. Are they required to apply sales tax to these monthly rates based on the customers geographic location. Or, because they are an e-commerce entity, and aren't really selling anything tangible, do they simply charge the flat rate and ignore sales tax?
More pointedly, I am wondering how complex tax collection / reporting is for a U.S. based e-commerce business of this sort.
posted by jasondigitized
on Oct 21, 2005 -
6 answers
Selling a house and keeping the cash - my wife and I are in the midst of selling our house. When all is said and done (fees, taxes, etc all paid) we're going to get $250k. The expected thing to do is move to another house and use that money as a down payment. But we're playing around with the idea of taking the money and travelling for six months - can we? More Inside...
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posted by cubedweller
on Sep 11, 2005 -
20 answers
