I am wondering if there is a single place I can find either one or all of these things.
Will forwarding our mail twice in three months raise any red flags with anyone? How about three times in seven months? I also need some general help on mail management and state residency since we plan to be mobile next year (we live in an RV). [more inside]
How do I prevent my mother from adding me to her accounts? [more inside]
Can I really use my now empty Health Savings Account plan to pre-tax reimburse myself for expenses in the past, if I contribute to it today? [more inside]
SO has job offer 1800 miles away in beautiful California. Yesterday we were told by friends to expect over 50% of his salary to be taxed, leaving us with net income not far from what we make now in landlocked midwestern state. Should we be concerned about being destitute if we take this job and make the move to Ventura County? [more inside]
I'm putting my daughter in preschool and want to know the cheapest way to pay for it. [more inside]
What's the next step? The person doing the books, preparing the taxes and processing payroll for my friends small business has disappeared, taking all of the physical records with him. This person had teamed up with some other financial services people (insurance, investments, etc.), and they were all offering their services out of the same office. The bookkeeper has left that arrangement, taking all of his clients' physical records with him. He is neither answering his phone nor returning phone calls. The IRS has requested information from my friend and the employees still need their weekly paychecks. [more inside]
What does “out-of-state business activity” mean in the below quote? “If you are a Michigan resident, all of your income is subject to tax, no matter where it is earned, except income earned from out-of-state business activity.” From this web page – here [more inside]
I keep seeing CList ads for free tax prep courses. Supposedly they may offer you a job after completing the course--this seems like a weird business model. How does it work? Do they really hire these people who've had so little training?
Help us determine if we're over reacting to a company paying at-risk adults below minimum wage because they can. [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 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]
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]
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]
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]
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]
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.
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]
After you've incorporated, what are the daily, monthly, and yearly behaviors and fees associated with having an LLC? [more inside]
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]
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]
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]
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]
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]
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]
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]
As an S-corp, am I legally obligated to present receipts or copies of receipts in the event of an audit? [more inside]
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]
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]
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.
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]
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]
My girlfriend nannies for three girls and has concerns about tax season, raises, bonuses and general treatment. [more inside]
My husband made less than $10k this year but TurboTax is telling us he owes over $1k in taxes. Is that right?! [more inside]
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]
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]
Should I have received additional paperwork after exercising ISOs in a cashless transaction from my former employer? [more inside]
The (unromantic) case for marriage. [more inside]
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]
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?
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]
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?
I lived in two states last year, but apparently only paid taxes in one. Now what? [more inside]
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]
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]
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?
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!
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?
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]