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]
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]
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]
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?
Somewhat unexpectedly, I find myself working as a full time freelancer. Help me anticipate the tax situation. [more inside]
Should I e-file my taxes? Specific computer phobia (or phobia of the IRS) is involved. [more inside]
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]
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]
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]
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]
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]
If you pay estimated taxes and then end up not owing those taxes, do you get them back? [more inside]
A friend owes me $8k to $12k. What tax laws do I need to know? [more inside]
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]
What is the total tax burden for various income levels in the US? [more inside]
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]
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]
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]
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."
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]
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]
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 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.
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]
I need software to manage my personal & business budget. [more inside]
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]
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]
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.
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?
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]