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]
How do I accurately determine which state to claim as my 'tax' state. For example, I work/live overseas for 2 months at a time, then I get 1 month off and usually travel or go to the US, but I do not rent an apartment, own a home (have a lease or mortgage) - I usually crash on friends' couches, and I keep my belongings and car in NC (in a Public Storage unit), but my mail, driver's license and voting is registered in TX. Which state can I legally claim? I know I need to claim a domicile in a state, and was hoping it could be TX.