915 posts tagged with taxes.
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Paying IRS LLC Back Taxes, please help!

So, I'm trying to pay the filing fees online that I never got around to. The personal tax account I made, my business tax ID number is attached to as well, HOWEVER, it's not indicating that I owe anything. I looked everywhere on the site menu to see how I can pay and it says I owe nothing (I owe a lot, even with no sales). Tax man is after me and I don't know what to do, please help! I'm in NY.
posted by InterestedInKnowing on Nov 6, 2015 - 6 answers

LLC to Shining Sea

How do I properly quit business operations in one state after moving to another state. Complication: I have outstanding invoices. [more inside]
posted by papayaninja on Oct 13, 2015 - 4 answers

How do I affordably start a music/art/educational LLC and non-profit?

I am a known financially developmentally delayed idiot. No really. I hate money. And I want to start a music and art festival on a slim budget and start building a framework to be able to raise funds for it and keep it all clean and kosher and separate while keeping my day job and tax bracket. How do I do this? [more inside]
posted by loquacious on Sep 28, 2015 - 14 answers

Can I pick which state I live in for income tax purposes?

I do not want to screw the IRS, as that is scary. At the same time I travel a lot. Nominally I have an apartment in NYC that is "home," and I pay high city tax and state tax rates. I have been AirBnB'ing the apartment and basically living with my girlfriend when I'm home. For business I travel a lot, to the point where I have begun renting cheap bachelor pads to not be living in a hotel all the time. Can I claim residency in those states? [more inside]
posted by geoff. on Sep 27, 2015 - 16 answers

Help me avoid a LLCP tax mess

I have a complicated situation for 2014, and I'm running out of time to sort it out. Details within. [more inside]
posted by roygbv on Sep 15, 2015 - 5 answers

Pretty - No - Really Late Taxes

How do I choose a tax attorney? [more inside]
posted by anonymous on Sep 1, 2015 - 15 answers

Do I really have to pay mortgage foreign exchange gain to the IRS?

I moved to the US from Canada during the 2014 tax year on a work visa. My departure date from Canada is considered the day after I sold my home in Canada. The tax people say it is advantageous for me to file as Married Filing Together, forcing me to declare the entire 2014 (not just the part I was in the US). Therefore, they say, I have to pay capital/mortgage foreign exchange gain on the sale of my home in Canada, even though everything about the house occurred before I was in the US. Does this sound accurate? [more inside]
posted by GeneticFreek on Aug 30, 2015 - 8 answers

Timing for an IRA Distribution for First Time Homebuyer Purchase

"Consult your tax advisor about your particular situation. " Hmpf. As if everyone has a tax advisor at their fingertips. So... I thought MeFi would be just as helpful. :-) After lots of thought, we would like to take an early distribution from an IRA for the downpayment on a house. Anyone here on MeFi have any experience with or specific knowledge of this type of distribution? Not looking for advice on whether we should or shouldn't do this; we have a pretty good nest-egg and believe this distribution is for the right reason, at the right time. [more inside]
posted by funfunfun on Aug 1, 2015 - 5 answers

CA Property Assessment

Our home was assessed for more than 100K over the purchase price. It's been 5 years. What can I do, if anything? [more inside]
posted by tealcake on Jul 31, 2015 - 19 answers

Foreign income exclusion via physical presence test?

I am a U.S. citizen. I moved to a foreign country on July 1, and will officially started earning income in the foreign country on August 1. If I quit and move back to the U.S. on July 1, 2016, will I receive foreign income exclusion on my taxes for both the 2015 and 2016 tax years? [more inside]
posted by anonymous on Jul 28, 2015 - 4 answers

California State Tax Troubles

I won some money in California and taxes were automatically withheld, even though I'm not a resident of CA. I filed CA state taxes to get the withheld amount back, but I didn't hear back about my refund. When I tried to contact California's Tax Powers-That-B, they have no record of my filing and I've conveniently lost all of my paperwork to prove that I did it. [more inside]
posted by chara on Jul 28, 2015 - 5 answers

Canadian Tax: Art Division

As an artist who makes very little money from art, so can I write off a portion of my rent because I use my apartment as a working art studio? [more inside]
posted by Phlegmco(tm) on Jul 15, 2015 - 5 answers

Should my accountant pay the interest here, or is that not how it works?

The accountant who did my 2011 taxes did a lame job (on several levels). I was notified at some point in 2012 that she'd made en error on my federal return and that I owed more money. Now I just got a notice from the state, saying that I owe them money for the same year. [more inside]
posted by swheatie on Jul 13, 2015 - 15 answers

"They just write it off." "Write it off what?" Tax question!

What does "writing it off" really mean? Explain it to me like I am a small child. When people say, "At least you can write it off on your taxes," is that really a silver lining? My personal scenario inside. [more inside]
posted by AppleTurnover on Jul 9, 2015 - 16 answers

Taxes on good received and how to calculate "Fair Market Value?"

I am an Amazon Vine participant. Amazon sends me products to review. Amazon has informed reviewers they will be sending a 1099MISC form this year in cases where the total value of all products selected is over $600. [more inside]
posted by anonymous on Jun 26, 2015 - 2 answers

Revenue Canada made a $6500 mistake. Is that their problem?

I owed Revenue Canada $279 and sent them a check at the end of April. Today I got an assessment that claims my "Payment on filing" is $6785, and added credits of $5.07 refund interest and $6508.32 total credits, for a total refund of $6513.39. Does Finders/Keepers apply in this case? How many years does Revenue Canada have before the money is no longer rightfully theirs? Not to mention the ethical considerations…
posted by morspin on Jun 16, 2015 - 13 answers

How to money

I'm in my thirties and I just got my first 'grown-up' job. Now find me a book that teaches me grown-up finances. [more inside]
posted by anonymous on Jun 5, 2015 - 20 answers

Is it worth it for an Ontario freelancer to be incorporated?

About 20 years ago, I needed to set up a corporation to work freelance for a large Ontario film production company. A couple of different accountants over the years advised me to hang on to the corporation and they allocated my yearly salary as a management fee. That paradigm shifted this past year and now I'm wondering if invoicing through an incorporated entity is worth the expense and hassle. [more inside]
posted by bonobothegreat on May 14, 2015 - 5 answers

Irish tax and inheritance question

A dear friend is about to pass away from cancer. She is an Irish national currently residing in Ireland. Most of her career was spent oversees in a non-EU middle-eastern country where her life savings of about $250,000 is currently banked. She has avoided repatriating those funds back to Ireland due to tax reasons. But as time is very short, she would now like to do this and pass them on to her family after her death. I have advised consulting a lawyer. But as time is very short, does anyone know what taxes is she liable to incur with this transaction, including inheritance taxes of her heirs? And is there an optimal method which will minimize her tax burden in this situation? Thank you.
posted by MacChimpman on May 11, 2015 - 5 answers

Can I put my LLC "on hold" and not pay fees?

I have gone from freelancing to full-time work so I don't need my LLC at the moment. But I will continue to be charged active-agent fees and taxes. Should I just dissolve it? [more inside]
posted by deern the headlice on May 5, 2015 - 7 answers

Setting up a fund-raising donation page for a Nepali village

In light of the recent earthquakes, I am looking for the best and easiest way to setup a page that accepts donations for a small, local, Nepali nonprofit. [more inside]
posted by blueberry on Apr 29, 2015 - 3 answers

Missed tax filing deadline. What do I do?

I missed the deadline to file federal taxes, and Turbotax says it's too late to file an extension. What do I do? I estimate being able to file my taxes by the end of May, but not before then, but would like to not have the IRS breathing down my neck. [more inside]
posted by corb on Apr 27, 2015 - 23 answers

how can I get from using tax preparers to doing my own taxes

My partner and I have gotten into the habit of using tax preparers over the past decade, with the end result that I no longer feel like I really understand what's going on with my tax return. How can i get from where I am now to doing them myself with a high degree of understanding of my tax situation. [more inside]
posted by diode on Apr 26, 2015 - 9 answers

Filing US taxes homeless

I was homeless for part of the year last year. I'm filing late (with deferral, sorry I didn't bring this up on Askmefi when it would be more pertinent) because I just now got all the proper info together. Is there anything I should know about filing US taxes for a year in which I was occasionally homeless and/or unemployed?
posted by anonymous on Apr 25, 2015 - 2 answers

Is it safe giving my accountant my full bank statement?

I want to file for taxes (Ontario, Canada) and my accountant asked that I can send him my bank statement so that he knows the different payments instead of having me send him all the receipts. Is this safe or advisable?
posted by cyrusw8 on Apr 22, 2015 - 6 answers

Best independent Business practices - Quickbooks and more

I'm a business of one person (an LLC). I'm doing things much sloppier than I can/should - help me automate it and make it smooth! Need advice on best practices and ideal services. [more inside]
posted by Towelie on Apr 20, 2015 - 4 answers

CPA has gone silent… what to do?

I am really upset that we’re down to the last minute and my CPA has not finished my taxes or communicated with me since April 3. I haven’t paid him yet. I’m about ready to download Turbo Tax tonight and use his draft to double check. Would I still be obligated to pay him? What if I wait until tomorrow (which is going to make me extremely anxious)? [more inside]
posted by Kriesa on Apr 14, 2015 - 19 answers

US tax deduction for donating a third-party service?

We donated a service provided by a third party (i.e. "not us") to a deduction-qualified church. The service has a clearly established price of $150. We didn't pay for the service, because the right to the service was given to us in compensation for the provider botching another instance of the service. Can we claim a deduction on our US federal taxes for the normal price of the service? [more inside]
posted by NortonDC on Apr 11, 2015 - 5 answers

Haven't paid city taxes in a long time. What should we do?

My partner works in one Ohioan city but lives in another. For the past 20 years, his employer has been taking taxes out for his work city, but not his home city. My partner doesn't really think about taxes, so it never occurred to him that he would need to do something extra to pay his city taxes. Consequently, he hasn't paid any city taxes to his home city for 20 years. [more inside]
posted by sam_harms on Apr 7, 2015 - 11 answers

It is one of the certainties

Who is the best professional to call on before 2015 taxes are due? [more inside]
posted by youdontmakefriendswithsalad on Apr 1, 2015 - 4 answers

Catch for us the little taxes

How do I do taxes for the first time? I live in NJ, and I had a paid internship last summer in CA. The internship provided free housing (is that taxable?) and I'm a college student in NJ. Sub-questions: What forms do I fill out, and what software can I use? [more inside]
posted by glass origami robot on Mar 28, 2015 - 7 answers

So, it turns out I've been married for the past two years. Help?

I found out today that the divorce I filed two years ago did not, in fact, go through. However, I've been filing my taxes as a single person during that period. What should I do? Are there other legal issues I may not be considering? Neither of us want and did not want alimony and we have no children, so that's not a concern. Thanks.
posted by Fister Roboto on Mar 26, 2015 - 9 answers

Can I shirk my duty?

I have to mail a large number of packages containing electronic devices, say printers, to a few dozen military sites overseas. If I am shipping to a foreign Air/Army Post Office (APO) or a Fleet Post Office (FPO) on a US Military Base, do I have to pay customs duties and taxes on those goods? [more inside]
posted by cross_impact on Mar 24, 2015 - 9 answers

Net income seems WAY off (in Ontario, Canada)

I've just finished doing my Canadian taxes using Turbotax. The net income calculated by inputting my T4 is higher than what I actually netted (calculated using excel + mint) by about $8000. [more inside]
posted by anonymous on Mar 17, 2015 - 11 answers

I have this Italian friend

My friend has started a small business in Italy and I am the US representative/minority owner. We have not yet begun production of our product. Can anyone tell me about filing US taxes with him as an foreign majority owner? [more inside]
posted by shaarog on Mar 17, 2015 - 2 answers

Help me understand real estate depreciation

I realized this year I have been neglecting depreciation on my taxes. I bought my condo in 2006, and lived there until 2012. Moved out at the end of June, started renting it out in November 2012. How do I calculate depreciation for my taxes? I know you are supposed to divide costs by 27.5 years, but I have questions. [more inside]
posted by fings on Mar 14, 2015 - 4 answers

Can't get through to the IRS blues.

The IRS says they can't identify me and therefore cannot send me my tax refund. The web verification process doesn't work and every phone number I've found for them just gives an automated "we cannot handle your call right now" and hangs up - no option to wait on hold. Please see extended explanation for more details, thanks. [more inside]
posted by NoAccount on Mar 11, 2015 - 15 answers

You Can't Fine Me Because I Quit! Or Can You?

Can my employer really make me pay back my signing bonus if I quit? [more inside]
posted by anonymous on Mar 11, 2015 - 19 answers

Trying to get copies of W-2s, can I find online with IRS? account

My mom needs to prove to the State that her taxes were filed in 2011. Maybe she could pull her Federal taxes from the IRS online? Would that include scan copies of her w-2s? [more inside]
posted by TRUELOTUS on Mar 10, 2015 - 4 answers

NYS Tax Woes

I apparently owe NYS $7,000 with interest and penalties. Do I call them to tackle this myself or should I find a accountant in the morning? [more inside]
posted by anonymous on Mar 2, 2015 - 9 answers

How can mom pay her taxes?

My Mom. Medicaid. A Miller Trust. And taxes owed. How can I make this happen? [more inside]
posted by Thorzdad on Feb 27, 2015 - 8 answers

Itemized deduction materials

I’m getting tax assistance for the first time and I’m not sure what I’ll need to bring to my appointment to get the job search deduction, as this will be my first time using itemized deductions. [more inside]
posted by quiet coyote on Feb 25, 2015 - 4 answers

Overypayment of Taxes

How to record a federal and state overpayment of taxes in 2013 when that overpayment was applied to 2014 taxes. [more inside]
posted by spicynuts on Feb 21, 2015 - 4 answers

Why do I owe so much in taxes?

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]
posted by chaiminda on Feb 19, 2015 - 28 answers

Affordable accountant needed in Boston / Greater Boston area

I've got some complicated taxes this year with two W2s and a few 1099s and living in multiple states. Yelp is not turning up anyone useful and the one local company I reached out to is not responding. I don't trust chains like H&R Block, but I don't mind a small company or independent professional. My budget is about $200-$250, might be able to do a little more. Boston, Dedham, Milton area preferred, but may be able to travel a bit further afield for someone with a great reputation. Recommendations are very much appreciated!
posted by thymelord on Feb 16, 2015 - 2 answers

Does my scenario require an accountant?

Building on an earlier question I'd like some personalized advice on using an accountant. [more inside]
posted by NikitaNikita on Feb 9, 2015 - 4 answers

Westside LA and tax advice

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]
posted by anonymous on Feb 8, 2015 - 3 answers

Grad Student. Doesn't mean I understand a 1098-T.

I have a taxes and graduate school-related question for you all! Obviously, you are not my tax advisor, but can you shed some light on a very strange situation and suggest whether or not it's worth seeking professional help? [more inside]
posted by WidgetAlley on Feb 8, 2015 - 10 answers

Can I claim my fiance as a dependent if we didn't live together in 2014?

My official residency last year was in GA with my mother, but I paid for my fiance's food, rent, and all living cost throughout the year. She is a resident of AL and the all utilities plus her apartment lease is in her name even though I paid for everything. [more inside]
posted by isopropyl on Feb 7, 2015 - 27 answers

Is my contract lawyer tax deductible?

in 2014, I went from one job to another, and part of that transition was negotiating a contract with my new employer. As part of the negotiation, I hired a lawyer to help me with the contract terms, which ended up costing me a decent chunk of money. My question: Can I deduct this money from my taxes? is it a job expense? I am thinking the answer is no, but I would love to be able to deduct that money.
posted by to sir with millipedes on Feb 7, 2015 - 5 answers

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