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855 posts tagged with taxes.
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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

Roth IRA early withdrawal: am I doing this right?

I have made 20k in Roth IRA direct contributions over the past few years. That investment is now worth 25k with interest earned. I wish to withdraw 5-10k from this account. Will that withdrawal be tax and penalty free? [more inside]
posted by kosmonaut on Jul 17, 2013 - 9 answers

What taxes should we be paying here? (British Columbia)

Had some reno work done on our house, disagreeing with the handyman over taxes, does anyone know the correct BC tax regulation here? [more inside]
posted by Cosine on Jul 8, 2013 - 4 answers

How do I find the details of a business's unpaid federal tax bills?

A local politician has an unpaid $500,000 tax bill associated with a business he owns. I'd like to find out more details on this. [more inside]
posted by foggy out there now on Jul 8, 2013 - 5 answers

First time self employed - what can be deducted? Therapy, bike, health?

Hello! I am an independent contractor (1099 Misc form) for the first time in my life and need some tax advice as the budget is a bit tight! Therapy, acupuncture, bicycle, insurance, computer, etc. How do deductions work? [more inside]
posted by Danah_78 on Jul 2, 2013 - 15 answers

Running an LLC while travelling the world?

I'm working on a few apps and I'd like to form an LLC. What complicates matters is that I plan to travel the world for the next few years, meaning that all my work will be done from my laptop with no stable office and no employees other than myself. I'm currently based in California. What are some good resources to help me figure out the best way to establish my business, both financially and legally? [more inside]
posted by archagon on Jul 2, 2013 - 14 answers

US Taxes in Canada

I need to file an amendment to my 2009 US federal and state taxes - I lived in the US (California specifically) half of the 2009 year and the rest of the year in Canada (GTA). I think this will be very simple (nothing but paycheck income to claim, no assets like trusts, property, stock, etc), but I am overwhelmed with the choices of accountants and tax people here, even the ones who specialize in cross border taxes. Can anyone recommend a decent tax person who could help with this? Preferrably someone near Etobicoke, although Mississauga/Oakville fine too. I've had numerous people warn me against the nearest chain type tax place, so I'm looking for someone independent or a small accounting type firm.
posted by routergirl on Jun 25, 2013 - 2 answers

What's the best way to catch up on 3 years of tax returns?

There's nothing nefarious about this, I got too caught up in work. What's the best way to catch up on a few years of tax returns? [more inside]
posted by Snell's Constant on Jun 23, 2013 - 12 answers

LLC then what?

After you've incorporated, what are the daily, monthly, and yearly behaviors and fees associated with having an LLC? [more inside]
posted by zeek321 on Jun 22, 2013 - 9 answers

What should I tell the customs agent about the $$ value of my car?

We will be importing a 2004 Honda Accord into Canada this weekend, I hope. We must pay taxes (16% of value of the car!) when we bring it in. It is up to us to put a value on the the car and hope the customs agent accepts our assessment. If they don't accept it, they will put their own value on the car and we must accept that and pay taxes accordingly. Two questions: how would you assess the value? And how would you try to pay the least amount possible? [more inside]
posted by picklebird on Jun 19, 2013 - 21 answers

What kind of financial advisor do we need?

As we discuss our future together, and with other big changes afoot/underway, my boyfriend and I would like to see financial advice about some specific questions/scenarios but I'm not sure what kind of advisor we should be seeking out. [more inside]
posted by marylynn on Jun 8, 2013 - 3 answers

Fuck tha USPS

My boyfriend's tax refund check was mailed over a month ago, according to Where's My Refund. We have surpassed the 28-day waiting period before one can file a claim for a missing or lost refund check. Does anyone know about how long it might take for the lost refund claim to be processed and the refund to actually be received? Also, he's wondering if he can change his mode of receipt from mail to direct deposit, to speed up the recovery. If you have experience in this arena we'd love to hear about it. [more inside]
posted by stoneandstar on May 29, 2013 - 2 answers

Turbotaxable (but not yet Turbotaxed) oGovernment Paperwork

Websites and software like Turbotax make it fast and easy(-ish) to file taxes. But what about everything else? I'm curious what kinds of paperwork could be "turbotaxed," but doesn't yet have a streamlined website or program to help people get through the red tape. [more inside]
posted by Green Winnebago on May 29, 2013 - 8 answers

Where's the rest of this new york times editorial?

This quote has been going around various friend's facebook pages, supposedly from a NYT editorial opposing the 16th Amendment. I can't find the rest of the article, and would like to see the context for the quote. Any leads online or offline where I could check it out? [more inside]
posted by Potomac Avenue on May 28, 2013 - 6 answers

Do I need to file estimated taxes if I know I'm getting a refund?

Me and my wife work, and always get a tax refund. I'm making more with my side business, so do I need to pay estimated taxes even if we'll still be getting a refund if I don't? [more inside]
posted by markblasco on May 27, 2013 - 13 answers

International Freelance Taxes -Canadian in Berlin /w US clients?

Calling all internationally mobile, 'creative-class' freelancers- how do you determine who taxes you, if your design clients are in one country (for me, USA) you live in another country (Germany) but are a citizen of yet somewhere else (Canadian)? Does everyone get a piece of my income? [more inside]
posted by anonymous on May 23, 2013 - 17 answers

Receipts required if you are audited?

As an S-corp, am I legally obligated to present receipts or copies of receipts in the event of an audit? [more inside]
posted by JJkiss on May 17, 2013 - 12 answers

Do I send my real W2 to a tax accountant?

I'm mailing out a copy of my tax return and W2's to my employer's tax accountant, so he can take a look at them and do an adjustment. Do I send him the real W2's, or a copy? [more inside]
posted by Xere on Apr 30, 2013 - 10 answers

Can I purchase my sister's student loan debt?

I have money in need of investment and my sister has student loans. Can I pay them off and then have her pay me a smaller rate of interest? [more inside]
posted by Cogito on Apr 20, 2013 - 17 answers

QuotationFilter: love unlike taxes and either like sustainability?

I'm searching for a quotation that was paraphrased to me as
Talking about sustainability should not be like doing taxes, it must be like writing a love letter.
The person (architect, with interest in sustainable design) who paraphrased this to me is certain this is not the actual quotation and citation, and believes it came to her attention within the past seven years.
posted by Prince_of_Cups on Apr 15, 2013 - 2 answers

Should this be a rental for tax purposes?

I live in a co-op in New York City. My spouse and I 'own' the unit, but we have a friend who lives with us. The unit is owner-occupancy only, so when we bought, we got special permission from the board for this one person to live with us. Owners are not allowed to rent out their units (but our situation is understood). Our roommate helps us pay the bills by giving us some money each month. There are no leases, subletting, proprietary lease for the coop, or any formal documentation at all. Is the money that he gives us each month "rental income"? I would prefer not to separate out rental income, expenses, etc. in addition to our legitimate home offices. However, I care more about doing this properly and not harming a) the roommate, b) the co-op, or c) my bottom line. [more inside]
posted by peripatetron errant on Apr 14, 2013 - 7 answers

California Taxes--what do they want from me??

So I am paying my California taxes using CalFile (their free online filing website at webapp.ftp.ca.gov). I get a few questions in, and then I get to the "Payments" section, with these 4 questions that make no sense to me. [more inside]
posted by brenton on Apr 12, 2013 - 10 answers

What are standard raises and procedures for live out nannies?

My girlfriend nannies for three girls and has concerns about tax season, raises, bonuses and general treatment. [more inside]
posted by PetiePal on Apr 12, 2013 - 21 answers

Self-employed and taxed up the wazoo?!

My husband made less than $10k this year but TurboTax is telling us he owes over $1k in taxes. Is that right?! [more inside]
posted by Mooseli on Apr 11, 2013 - 24 answers

April 15 oh noooooo

I am an independent contractor. I did not pay taxes for 2011. I cannot afford to pay my taxes for 2012. I am scared. [more inside]
posted by anonymous on Apr 11, 2013 - 22 answers

I formed an LLC with a partner, are we Limited or General Partners?

I am trying to fill out our first 1065 on Turbotax. We formed as an LLC with the State. The IRS doesn't have a designation for LLC, and considers us a Partnership. Turbotax is asking for each member of the LLC whether we are Limited Partners or General Partners. On the operation agreement, we are member, and actively run the business together. We did not specify a member-manager. On Turbotax, it is asking whether we are General or Limited partners and I am wondering which one I should select. [more inside]
posted by Roki on Apr 10, 2013 - 5 answers

I exercised ISOs and all I got was this crummy certificate.

Should I have received additional paperwork after exercising ISOs in a cashless transaction from my former employer? [more inside]
posted by okay okapi on Apr 10, 2013 - 2 answers

Financial benefits of marriage.

The (unromantic) case for marriage. [more inside]
posted by hellameangirl on Apr 2, 2013 - 46 answers

Is an org. legally required to generate 1099 forms?

Is the non-profit I work for legally required to generate 1099 forms for all of the individuals who receive stipends from this org. and have filled out W9 forms (technically "independent contractors")? [more inside]
posted by anonymous on Apr 1, 2013 - 3 answers

Stupid Taxes Question

If I am submitting business expenses for my own business in my 2012 taxes, must I limit them to the 2012 calendar year? Or can they go up to April 15 of 2013?
posted by azoth on Mar 27, 2013 - 4 answers

How do I get my car title transfered into my name?

What is the process and what taxes must I pay when transferring a car title from my father to me? Interstate snowflakes inside. [more inside]
posted by domnit on Mar 25, 2013 - 4 answers

401 K catch-up?

I know that I can still contribute to my IRA account for 2012; can I still make catch-up contributions to my 401K for last year?
posted by coldhotel on Mar 24, 2013 - 3 answers

Do I need a new W2 and other tax questions

I lived in two states last year, but apparently only paid taxes in one. Now what? [more inside]
posted by anonymous on Mar 23, 2013 - 6 answers

Accountant needed for complicated residence situation.

Asking for a writer friend:
I need an accountant who is up to speed on writers'/artists' tax affairs, and in particular one who understands the intricacies of residence and/or obligation to file in more than one country.
[more inside]
posted by languagehat on Mar 19, 2013 - 5 answers

Who should I consult, and in which state, for tax advice?

I am not sure whether to consult a CPA or a tax attorney for this. I currently live in Chicago. My brother lives in Louisiana. I am, separately, the trustee of a trust for him and his designated power of attorney. While in Louisiana, I sold his primary residence acting as his POA. I deposited the proceeds from the sale into the trust. No 1099 was issued for the home sale. Howwww do I report this to the IRS? [more inside]
posted by liketitanic on Mar 11, 2013 - 5 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

Filing Taxes for the First Time: Roth IRA Question

Hi HiveMind, I'm filing my own taxes for the first time as a recent college graduate (using TurboTax -- so easy!) and I have a question with regards to my Roth IRA account. In 2012, I graduated college and started a business. We didn't open for business until late November and I only paid myself $1,250 for all my work in 2012. I also opened a Roth IRA account and contributed $5,000 for the year. However, according to TurboTax, contributions to an IRA account cannot exceed earned income. My question: can I simply report a $1,250 contribution to the IRA on my taxes and leave the $5,000 in the IRA? Will this get me in trouble? Should I merely take out the $3,750 and invest it in a different account? If noticed, could I just plead ignorance as my first time filing? Thanks!
posted by masters2010 on Mar 3, 2013 - 5 answers

How to calculate self-employed income equivalent to employee pay?

I know the self-employed in the US face a strange tax situation. Now think of the salary + benefits of a full-time employee position. How much more money would you have to be paid, as a self-employed independent contractor, to get the after-tax equivalent of that salary, assuming you then had to purchase the benefits yourself?
posted by shivohum on Mar 1, 2013 - 11 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

I filed an incomplete tax return by accident

I did not file US taxes in 2011 because I thought I didn't owe. I just got a letter saying I did need to file, so I rushed around to do this and now I have filed. Unfortunately, I just found a document that I should have included - a K1 form. My deadline for filing is February 27; it will be virtually impossible to refile by then. I can easily get this refiled in a couple of weeks though. What should I do?
posted by Surprised By Bees on Feb 22, 2013 - 8 answers

Which tax software for our particular situation?

I'm looking at tax softwares and not finding one that suits our particular need, which is, specificially: run all these scenarios and figure out what's best. [more inside]
posted by TomMelee on Feb 11, 2013 - 7 answers

St Louis Tax Preparer

I'm looking for a recommendation for someone in the St. Louis area (or Metro East) who prepares taxes. [more inside]
posted by aetg on Feb 9, 2013 - 2 answers

W2 vs 1099 insurance write-off

Please help me understand whether I can write off my health insurance premiums. [more inside]
posted by mhz on Feb 9, 2013 - 14 answers

Overpaid my Roth IRA by an astounding $1300. What to do?

Not sure what happened, but I have a Simple Roth IRA through Fidelity that I overpaid accidentally. I'm in my 40s, so as I understand it, can put in up to $5,000 per year. Last year, I overpaid my maximum by something like $300. I didn't worry too much about it. Starting to do my taxes this year, I looked at my Fidelity statement and it looks like this year I overpaid by $1300. What are my options? How does this affect my taxes, if at all? [more inside]
posted by HeyAllie on Feb 6, 2013 - 8 answers

Selling rental property. Have some questions

I am selling a rental house and I have some questions about taxes etc. I know YANMCPA, but if you could point me to a place I can read some clear information, I would appreciate it. [more inside]
posted by mikedelic on Feb 5, 2013 - 4 answers

CPA in Minneapolis?

Looking for a CPA in Minneapolis for a fairly straightforward tax situation. [more inside]
posted by heliostatic on Feb 3, 2013 - 3 answers

Should I hire a CPA for my taxes this year?

Should I hire a CPA for my taxes this year? 1. I relocated for my job this year and received multiple relocation benefits. 2. I sold off stocks that were gifted to me and I do not have any cost bases for them because they were purchased so long ago. [more inside]
posted by 6spd on Feb 2, 2013 - 2 answers

Crash course in freelancing please

Some freelance programming/design work (javascript data visualization) is about to drop into my lap through a friend who has heard me talking about how much I enjoy this stuff. I'm a student and have never done this professionally, but would love to in the future. Help me not look like a rookie and make this go smoothly and professionally. [more inside]
posted by PercussivePaul on Jan 31, 2013 - 10 answers

Travelling the world while running a small business.

I would like to travel the world while writing my own software (for profit). Ideally, I'd like to stay in each place for a couple of months, not just a few days or weeks. Where can I learn about the legal specifics of doing this? [more inside]
posted by anonymous on Jan 30, 2013 - 7 answers

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