I made less than 30K last year and owe almost 2K in taxes (federal and state). What gives? I'm guessing this is a problem with withholding from multiple jobs but I don't understand what exactly happened or how to fix it. Please use small words. [more inside]
Our taxes this year are complicated by a number of factors, like getting married and dealing with the paperwork from three states. Turbotax is not going to give us the advice we need, so we would like to hire a professional for this round. We also may need professional financial advice in the future, so if the person or firm also offers those services that would be a bonus, but not essential. Anywhere in the Westside would work, though we are also willing to go further out. [more inside]
If I have to pay back a signing bonus because I didn't stay at the job for a full year, is there any way to recover the taxes I paid on the signing bonus? [more inside]
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]
Is an accountant obligated to report unreported income to the IRS, if the conversation is not pertaining to the completion of my tax return? [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?
I'm a relatively new transplant to Oregon, so I didn't find out about the Oregon Political Contribution Credit until last April. And then I promptly forgot about it until I heard a fairly annoying ad on the radio reminding people today is the last day to make a contribution. Should I donate my 50 bucks to any particular cause? [more inside]
I estimated and sent money I thought I owed in taxes to the IRS when I filed for an extension on my 2012 taxes. I finally just did my taxes and I actually got a refund instead. How do I get the money I sent the IRS in April back now? [more inside]
There's nothing nefarious about this, I got too caught up in work. What's the best way to catch up on a few years of tax returns? [more inside]
As we discuss our future together, and with other big changes afoot/underway, my boyfriend and I would like to see financial advice about some specific questions/scenarios but I'm not sure what kind of advisor we should be seeking out. [more inside]
As an S-corp, am I legally obligated to present receipts or copies of receipts in the event of an audit? [more inside]
The (unromantic) case for marriage. [more inside]
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?
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? [more inside]
Although I'm a highly educated woman in my late thirties, when it comes to money I'm basically a fourth grader. Tell me how you managed to be a financial grown up. [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]
Should we file taxes separately or jointly? Pay off a chunk of student loans now or pray for forgiveness? Help me identify the interaction of these questions. I'm not good with money! Details inside. [more inside]
I got a large bonus this year which will probably never be repeated. After taxes, it was 26K. I don't have any immediate needs (no medical issues, etc), and I know next to nothing about investing. Given this economy, what should I do with it? Stocks? Bonds? Saving account? IRA? [more inside]
How do taxes work on investments in mutual funds? I am a novice at investing. American citizen working overseas and building a portfolio finally. I've established my emergency savings and am heading into taxable investments. Unfortunately, I am unable to contribute to my Roth IRA or contribute to a traditional IRA while claiming FEIE (Foreign Earned Income Exemption) with the IRS. I'm looking into investing in Vanguard's VWINX fund. How would US taxes work on these investments?
If you pay estimated taxes and then end up not owing those taxes, do you get them back? [more inside]
Will I need to pay taxes on this inheritance? [more inside]
Will I get caught if I don’t report the purchase of my PRIVATE COMPANY ISO’s? (AMT is a bitch!) [more inside]
Is there a website showing tax payments by public companies? [more inside]
StateTaxFilter: Last year I owed the state $3. This year I seem to owe the state over $400. Could this be an error, and, if not, why do I owe so much? [more inside]
You are not my accountant, but maybe you can answer my 401k/tax question, in EXTREME LAYMAN'S TERMS. [more inside]
Can I write off the extra driving I do for my job? If so, how do I go about doing this? [more inside]
How do I go about proving an uncollectible debt? [more inside]
In double-entry bookkeeping, are taxes a liability or an expense? [more inside]
YNMA, obviously... wife and I overestimated our dependent care expenses this year...by a lot. I have to come up with valid expenses, for the remainder of 2010, that we can occur to cover 3K remaining in our account. Any ideas? We did the camp thing this summer, but ended up not signing up for a few of them from our original budget. Our son is in kindergarten at a private school, so we're past the time we can pay for tuition out of this account. PLEASE HELP!!!! Thanks mefite nation!!!
TaxFilter: I'm a Canadian who began a Ph.D at an American university. Tuition was waved and I received a living stipend of about $17,000 (paid monthly). This is pretty typical for graduate programs across Canada and the US. [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]
I just found my US tax refund check that was mailed to me in 2009, and never deposited. Last year, I filed my taxes on time, was mailed a refund, lost the check and never followed up. If I take this to my bank, will they let me deposit it? If not, what's the next step? (Anonymous because I'm ashamed of being so disorganized and so bad with money. I'm working on it.)
Do lenders make loans to cover property tax bills? [more inside]
Suppose I were soon to receive a check for approximately $20,000. Also suppose that this represents a portion of my share of an inheritance from a relative and that additional monies will be forthcoming and, though I don't know exactly how much, that'll probably be on the order of $50,000 or so. What are the tax implications of this for me? What could I do to minimize the taxes I pay on this money? (I'm in the U.S.) YANAAccountant or MAccountant.
Can I keep my Roth IRA if I'm not working anymore? [more inside]
It's tax time and I screwed up, what are my options? [more inside]
I need to know a rough estimate of how much I should take out in taxes. Theres no withholding with my checks because the temp agency is whack like that. But I need to know how much to take out for tax season? I live in NY, but don't live in the city. So far I earned with this agency... 7466.55. The end of the year it will be $9000 earned. Can anyone help?
What are some good low risk ways to invest $30k for about a 3 month period? [more inside]
Last year I lived and worked in two different states (RI and CA) I worked two jobs in RI and then got another temp job in CA and moved out there in the fall. So I am using TaxCut to file my returns (yes I know its cutting it close) but I am confused when it asks for the "Employee's address" under the W-2 section; what do I put? Do I put my address where I used to live for those jobs back in RI or my current one in CA? I still consider myself a RI resident and will be moving out of CA in two weeks back to New England.
Self-employment tax help for out-of-state web work [more inside]
What sort of state of organization are the financial records of most sole proprietorships in? [more inside]
Help me get a great accountant in the UK (pref Manchester), who understands on-line businesses. [more inside]
I'm in over my head, and I just need a system that will help me do some very, very simple accounting. [more inside]
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). [more inside]
I cheated on my taxes twice. I got caught once. Will I get caught again? [more inside]
Being a 21st Century kind of guy I find myself now doing long-term work for a few companies overseas (India and the U.K.). I would like to be able to open a bank account in each country and just get the money I need via ATM. I'm thinking that since the dollar sucks it would probably be better financially for me long term. Is this a smart move? How hard is it for citizen of the US open a bank account in a foreign country? Do I have to report that income? And if so will I end up getting taxed twice?
Found an old W-2 from the chaotic grad school years (2000) that I never filed taxes on. Is it still possible? Looks like I'm owed money. [more inside]
What is the best financial/tax situation for us? Kid on way, financial aid eligibility concerns. [more inside]
What date acquired and cost basis should I put for two items reported on a 1099-B, when there are several unknowns? [more inside]
I’m a writer who is spending more and more time in Los Angeles for work. I live in Florida, and am a Florida resident. My question is this: If I rent a place in LA, because I am spending roughly half of my time there, what deductions can I take advantage of? [more inside]
Can anyone recommend a good, affordable accountant in the New York City area? I am establishing a freelance business and will need to estimate taxes, think about eventual incorporation, etc.
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