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31 posts tagged with taxes and income. (View popular tags)
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Is an accountant obligated to report unreported income to the IRS?

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]
posted by anonymous on Apr 3, 2014 - 4 answers

Marriage and the tax penalty.

Should we get married this year, or will that end up in a tax penalty, considering our incomes are similar and we would end up in a higher tax bracket? [more inside]
posted by anonymous on Mar 7, 2014 - 14 answers

Help! I'm a newbie freelancer who needs guidance on taxes

I'm new to the world of freelance writing but not making enough to hire a tax advisor. Should I start paying taxes in September? And how can I write off the depreciation of my laptop? [more inside]
posted by bluelight on Jul 20, 2013 - 13 answers

What to be aware of when getting paid non-taxable income?

I am taking a new position where I am paid a non-taxable income/stipent. Essentially my position is funded through a grant. I am not a student, this is a full-time and temporary. I am afraid when I go to file my taxes next year something might come up where I do have to pay taxes. I guess I don't fully trust the government in not wanting to place their sticky hands on my money! Is there anything I should be aware of? Should I file my taxes a certain way?
posted by melizabeth on Mar 7, 2013 - 9 answers

Help me not owe a bazillion dollars in taxes next year.

Somewhat unexpectedly, I find myself working as a full time freelancer. Help me anticipate the tax situation. [more inside]
posted by Sara C. on Feb 27, 2013 - 13 answers

Tax Luddite

Should I e-file my taxes? Specific computer phobia (or phobia of the IRS) is involved. [more inside]
posted by bad grammar on Feb 26, 2013 - 21 answers

Tax implications of being "bought out" of a percentage of a realty trust

My two sisters and I were equal beneficiaries in a realty trust. This past year, my older sister bought my 1/3 share (as well as that of my sister.) According to the legal documents, it was a "transfer of beneficial interest". Other than signing and notarizing the documents to transfer the real estate share, nothing else official occurred and my sister just paid us our fair share of the assessed market value. She is not planning on reporting the transaction. I have no idea if I owe taxes on the money I've received (and will also be receiving this year - it was divided into a few payments) and if so, what kind of tax that might be. [more inside]
posted by nekton on Jan 24, 2013 - 10 answers

Financial Adult

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]
posted by anonymous on Oct 17, 2012 - 22 answers

Why not lower income taxes and increase capital gains taxes?

Has there been any serious discussion or analysis of "swapping" capital gains tax rates (by raising them) and income tax rates (by lowering them)? [more inside]
posted by AgentRocket on Aug 21, 2012 - 12 answers

Am I making foreign earned income when I freelance in another country for U.S. firms?

If I do freelance work for U.S. companies while residing in a foreign country, is that considered "foreign earned income for IRS purposes? [more inside]
posted by KimikoPi on Apr 20, 2012 - 6 answers

Figuring out deductions from upcoming paycheck

I am starting a new job in the state of Virginia next month. How can I calculate how much I will be bringing home after taxes, social security, medicare, health benefits, retirement, etc? [more inside]
posted by little_c on Mar 2, 2012 - 3 answers

Does the tax man keep your money if you overpay?

If you pay estimated taxes and then end up not owing those taxes, do you get them back? [more inside]
posted by doomtop on Dec 9, 2011 - 7 answers

Cash. And Taxes.

A friend owes me $8k to $12k. What tax laws do I need to know? [more inside]
posted by glaucon on Nov 16, 2011 - 7 answers

Estimated Self-Employment Tax

I am trying to learn more/understand better my new tax situation as an independent consultant, and was hoping someone could help me with the following questions: 1. How do I compute my Net Earnings From Self-Employment (NESE)? What calculation is used? 2. Since I am excluded from Federal and State tax (my tax domicile is TX) for my foreign-earned income amount (I estimate it would be $87,500 for 2011) - can you break down how I can get the estimated tax payment amount for 2011? [more inside]
posted by bbhart113 on Sep 10, 2011 - 7 answers

Total tax burden by income level

What is the total tax burden for various income levels in the US? [more inside]
posted by jcreigh on May 24, 2011 - 3 answers

Help me figure out how to pay taxes in Ontario.

It's income tax time in Ontario, and I've never filed before. Help me get through this as cheaply as possible, won't you? [more inside]
posted by AAAA on Feb 7, 2011 - 17 answers

The Taxman Cometh

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]
posted by en el aire on Apr 3, 2010 - 17 answers

Do you have to pay taxes on money paid during a seller rent-back?

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]
posted by unclezeb on Sep 29, 2009 - 9 answers

Philosophical takes on taxes/income/wealth?

I'm looking for philosophical treatises that touch on the subjects of taxes, wealth, income and the like for a blog post I'm thinking about writing. Specifically, I'm looking for philosophical musings on the government's right (or lack thereof) to collect taxes and the right (or lack thereof) of an individual to do whatever he wants with his earnings. It would be more helpful if you could point to a specific chapter/section/passage, rather than saying "try reading Marx."
posted by ekroh on Apr 13, 2009 - 11 answers

Self-employment tax help for out-of-state web work

Self-employment tax help for out-of-state web work [more inside]
posted by anonymous on Feb 24, 2009 - 9 answers

What kind of records do most sole proprietors, freelancers and consultants keep?

What sort of state of organization are the financial records of most sole proprietorships in? [more inside]
posted by anonymous on Feb 17, 2009 - 5 answers

Should I do my own taxes or hire a pro?

I'm making four times what I have in the past, so should I continue to do my own taxes or should I try an accountant this year? [more inside]
posted by anonymous on Jan 14, 2009 - 19 answers

US income tax history and theory for dummies?

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]
posted by p3t3 on Oct 17, 2008 - 4 answers

Income tax versus Fair tax....help

I need to better understand the proposed tax systems. Mainly the fair tax or sales tax versus an income tax. I am writing a paper for school on the viewpoints of TTARA (The Texas Taxpayers and Research Ass.) and CTJ (citizens for tax justice) but cannot gain a clear idea of what each side is proposing. Obviously the republicans want the fair tax, and since TTARA is business minded, I assume they too seek the fair tax, or at least support it. But what is the Dem idea of fair taxation? Do they want an income tax? What is all this talk on CTJ about income tax cuts? I don’t have the patience to sift through all the material so I'm hoping someone can give me a basic idea of the differing positions on the matter. Mainly answer the question of who wants what and why, and who benefits most from each plan.... Also what about the working poor, do they benefit most from an income tax? Etc. Etc.
posted by madmamasmith on May 4, 2008 - 17 answers

Which state am I a resident of? Where do I file my taxes?

I live in NH but still have a CT driver's license... due to a combination of supposed lack of need and laziness. [more inside]
posted by Jimmie on Jan 20, 2008 - 9 answers

Help? I need software to manage my budget!

I need software to manage my personal & business budget. [more inside]
posted by idlm on Sep 20, 2007 - 7 answers

USA freelancing from abroad?

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. [more inside]
posted by anonymous on Mar 13, 2007 - 10 answers

How To Claim Adsense Revenue on Taxes?

Full-time job = salary = W-2 form = income to report on federal taxes. So far, so good. But I also made a few dollars (~$1,000) in 2006 from ads on my websites (some Adsense, some others). No documentation for the income, other than deposit receipts into my bank account. How do I include this modest sum in my annual income? [more inside]
posted by davidmsc on Feb 27, 2007 - 9 answers

How can I be forced to pay income tax to two states?

I live in New York and recently started a new job in New Jersey. On my first pay stub, I noticed that I'm paying a state income tax for both NY and NJ (and the tax for new jersey is actually $30 more than the NY tax). How can I be forced to pay income tax to two different states when I only live in one? This seems unjust.
posted by zembla3 on Apr 30, 2006 - 5 answers

new jersey tax vs. new york tax

I live in NYC, I make $60k a year, and I take home about $750 per week, which comes to $39k. This strikes me as ridiculous. Am I not using some deduction that everyone else knows about? Would I pay fewer taxes if I kept my Manhattan job but lived in New Jersey?
posted by bingo on Apr 26, 2006 - 40 answers

We don't want the IRS mad at us.

We have a couple of blogs and use a combination of Google Ads, AdBrite and Amazon Associates placements on them. We're trying to figure out how best to approach the income from these ads on our tax filings... [more inside]
posted by anonymous on Jan 4, 2006 - 20 answers

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