I want to get a business license so I can buy products from businesses-only wholesale stores like Jetro. I would not have any income from the business. Would starting this business as a sole proprietor (no fictitious name) expose me to additional tax liabilities for the income from my regular job? Company business category would be Computer Consulting. This is in New York state, Brooklyn specifically.
Unexpected tax assessment came in the mail. What should our accountant be doing for us? [more inside]
How do I handle a flexible spending account audit when I don't have receipts? [more inside]
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. [more inside]
In Texas, if I do freelance web design or web development for a client directly, do I need to charge them sales tax? [more inside]
New job is 99% awesome. The 1% of not-awesome is that I've been told (essentially) to figure out my own state tax deductions. Help. [more inside]
I started a side business in 2009 and operated at a loss. I did a terrible job of record-keeping. Should I submit deductions, or just forget it? [more inside]
I am opening an electronics repair shop in PA, I will be repairing cell phones, video games, and computers. Do I collect sales tax? [more inside]
How do I go about proving an uncollectible debt? [more inside]
Selling a house - Buyer offers to raise price if I pay closing costs. Anything I should be concerned about?
Selling a house - Buyer offers to raise price if I pay closing costs. Anything I should be concerned about? [more inside]
Stupid tax question: I live in the U.S. If I'm paid on a contract basis for consultant work by an overseas corporation, do I have to pay income tax on that money? In this equation, am I just a regular-joe 1099 contractor? [more inside]
Are most U.S. citizens looking at a federal tax hike next year? I can't seem to find reliable data on this. Would such a hike apply to money earned 2010 or 2011?
My employer is paying my tuition, and told me that I could claim the amount as a deduction, because it's a taxable benefit. I did, and now I've received a letter from Revenue Canada asking me to submit a T2202 form and to tell them who had given me money for my tuition. (I filed online, which is why I hadn't submitted the T2202 before.) Was I wrong to claim this deduction? (You aren't my tax lawyer, but you know about these things.)
You Are Not My Accountant/Lawyer/Whatever. But, do you have any answers or could you point me in the right direction of a resource that could answer the following question regarding tipped service staff in the state of Florida? [more inside]
My best friend is the largest client of my business. He would like me to purchase a car for his use through my company. Is this a terrible situation for me and how should I handle it? [more inside]
Freelance Writer Tax Write-Off Question: I'm a first time independent contractor and want to know how and if I can write-off a laptop. [more inside]
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]
If I sell off some of my books on Amazon, is that income I need to pay taxes on? I ask because I'll generally be selling my books at a loss - they're books I bought for myself, am done reading and want out of my spare bedroom. It's not exactly the product of a business plan.
My BIL claims that insurance settlements for injury are not taxable income in the Commonwealth of Massachusetts. I can't believe the state doesn't overfish that particular revenue stream. So, is it taxable income or not?
Is there a way to automate wash sale accounting/schedule D preparation for a very active investor? [more inside]
Through a combination of bad advice and sloppiness / ineptitude, we've gotten ourselves into a fix with the IRS. No saber rattling yet but I know it's coming, so I'm hoping for some words of experience. [more inside]
YANMA(You are not my accountant), but do we need to charge sales tax on a web-based monthly subscription, "software as a service" application? [more inside]
Is there a way I can force a former employee to give me their information so that I can process my taxes? [more inside]
My CPA didn't do my taxes. What's the best way to proceed? [more inside]
What effect will the change in US tax rates on dividends have on share prices and dividend payouts? [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 need a tax id so I can open a bank account for my band in Michigan. [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]
Do higher rates of taxation for high-earners kill entrepreneurial spirit? [more inside]
What are the benefits of incorporating? [more inside]
There's been a lot of news and talk about the Tax Policy Center's report that 47 percent of American's pay no federal income tax. Naturally the more rapidly Republican members of my family are repeating this ad nauseam to me. Can you point me to good links that factually refute this claim? Or is it in fact true? I'm not looking for debate, just facts about this claim.
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]
How can this unfair income tax situation be resolved? [more inside]
Girlfriend hasn't filed taxes yet. Her W-2 for Unemployment is missing, but she withheld the max amount. What do we do? [more inside]
I’ve been living in London for the past 6 months, and somehow the US tax deadline escaped my radar until now. Help! [more inside]
Hope me with Turbo Tax. [more inside]
Recovered escheated stock in Massachusetts - how is it taxed? [more inside]
My tax preparer reported I contributed more to my Roth IRA than I actually did. Does this matter? [more inside]
How to report rental income through a property management company on turbotax ? Missing a 1099-MISC form.
How to report rental income through a property management company on turbotax ? Missing a 1099-MISC form. [more inside]
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. [more inside]
Help me cut through the talking points and become more informed about economic disparity, taxes, and social programs in the USA. [more inside]
Can I negotiate down a late payment penalty on my Canadian taxes? [more inside]
In 2009, I made less than $9000 at my part-time job. Do I need to include this income when filing my taxes? [more inside]
Should I buy a home in the next month to take advantage of the first time homeowner's tax credit? [more inside]
Why is federal refund reduced because of money I owe the state? Is the fed paying the state this amount and thus reducing my debt to the state? [more inside]
We are purchasing a home, which should close by the end of the month. We have also finished our taxes for the year. We will qualify for the $8000 first time home buyer tax credit. Is it possible to amend our taxes and get the credit for the 2009 tax year, even though we completed the purchase in 2010? [more inside]
Can you recommend a tax person in Seattle? [more inside]
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. [more inside]
So I, along with two other people are starting a magazine based out of Canada. We're planning to raise funding for it via Kickstarter.com but are worried that we're signing up for a nightmare of tax trouble. [more inside]