Is there an easy to use withholdings calculator for California? I want one that works like the IRS calculator does for Federal Withholdings. [more inside]
I e-filed my tax returns by the due date but couldn't pay them because I didn't have the money yet. Now I have the money, but am running into the bizarrely antiquated IRS payment system. [more inside]
I donated four large bags of clothes to a Goodwill. They gave me a general signed receipt that confirms I donated something, but it is not itemized or contain a value on it. Should I just estimate this value when doing my taxes next year? Or will that be problematic? [more inside]
After filing my US taxes for 2013 on time, I've decided to bite the bullet and file my delinquent 2008 tax return. I am disorganized and no longer have any of my paperwork. I got a Wage and Income Transcript from the IRS site, which has all the info I need. Do I just file this transcript with my return in lieu of W-2s and 1099s? [more inside]
We just found out that there is such a thing as the 1120-H tax form for condo and homeowner associations, and the previous owners of our building have never filed. Great. We're going to start, but is this something that all condo or homeowner associations do? Were our previous owners unusually lax? [more inside]
I'm Canadian. I redeemed some mutual funds in very late Dec 2013. The redemption appears on my Jan 2014 statement. I have capital gains from the redemption. Should I report these capital gains now on my 2013 tax return, or next year on my 2014 tax return? [more inside]
Where do I go online or irl to get specific federal income tax questions answered? [more inside]
I'm planning on starting both a nonprofit and a business (LLC or C-Corp) before the end of summer, and I'm uncertain as to my ability to write off expenses. Each would be run with a small (<5) group of investors/friends. [more inside]
Hi, I'm doing my 2014 taxes. I moved to New Jersey on Dec. 13, 2013 (from New York) and during the closing I paid the property tax for December, as well as 3 months of property tax in advance for the first Q of 2014. My question is: one my taxes, do I claim just the December taxes, or can I claim all the money I paid in 2013?
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]
Is it possible to convert my LLC to an S-Corp to avoid paying $10,000+ in 2013 self-employment taxes? [more inside]
I owe the IRS a not-insignificant chunk of change. Is there some way I could benefit from this? [more inside]
Every year, I've done my taxes myself, and on time. But, I didn't do my taxes last year. Or the previous year. The reasons are personal and ones that I would imagine the gov't may not care about - a breakup with my partner of 9 years one year + the crush of a big move and job transition the next. I knew there would be complicated tax things to sort through since I was living in corporate-funded temp housing (and also, each year I get $ back, but I think I would have actually owed this time around due to the temp housing deal). I let it build up into a huge scary tower of overwhelmingness. The months ticked by, and it was easier to push to the back of my mind. Essentially - I. just. didn't. do. them. I would imagine that I could be fucked. But I'd like to take a deep breath, take this one on the chin, pay whatever horrible fines I may owe, and get it sorted this year. Pre-April 15th. How fucked am I? Things I should know? Will I need to tell my job about this? I've never used an accountant before - tips for finding one? I'm in Portland, OR.
I was filing my taxes online when I saw my W-2 was extra confusing. The online tax website even flagged the data I entered saying there were probably errors. I'll talk with my employer about this if necessary, but is it actually invalid information or just unusual circumstances? I've provided all the information I could think was relevant. [more inside]
Short version: As a Canadian Freelancer, if I track all my expenses carefully in mint, and pay for pretty much everything with credit/debit cards, do I still need to keep all those paper receipt? [more inside]
How do relocation expenses paid directly to a 3rd party work on your taxes (US)? We received the relocation expense breakdown from employer today and there is about $15,000 listed as w-2 reportable income, that was strictly the cost paid directly to the movers. Will we be paying taxes on that? Will our total income be our regular taxable income plus this $15000? Should we start having more taxes taken out of the paycheck to avoid any yucky surprises next year at tax time? Everything I find online talks about deductible expenses, but I don't see how that even applies to this situation because we weren't reimbursed for anything, the employer handled everything with the movers directly. We meet all the requirements for qualified moving expenses (time, distance and start of work), but again, don't know where that fits in. This will apply to the 2014 taxes, so we have plenty of time to get a better grasp of how it works. You are not my CPA or TA (we may get one, but I would still like to understand and prepare accordingly if we will be getting pounded at tax time).
On Monday, I start my first non self- or under-employed job in five years. It is with a very large (4000+ employees) company that's a big player in their field, and I am very happy and grateful to have the job. But, as I'm sitting here filling out the employee paperwork I'm faced with a "New PC Employee Acceptance Form". It seems I will be issued a company laptop, but I will also be charged $70/month that "covers XXX Company's standard for PC hardware, software and maintenance". This was never discussed in my salary negotiations. Questions: Is this normal? and, Is this an expense I will be able to write off at tax time?
I've just signed on with a couple of online firms that have a team of freelancers and then assign work to them. What do I need to know about taxes? [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]
Am I saving enough for taxes from my second job? I live in the US and have no state income taxes. My main job is W2. I make around $56k and usually end up close to even on my Fed return. I now have a second job that's 1099. I get paid $150 a week and set aside $50. Is this probably enough for Fed (income/SS) taxes?
I won a prize in an online drawing from a small business. (The prize is something I want, and I don't want to sell it or give it away.) The stated value of the prize is $750 (and I've confirmed that is what it would actually cost if I were paying for it—the price is not inflated for the prize). How can I determine what taxes I will need to pay on this, given that I pay taxes in NYC, New York State, and federally?
On Tuesday I drove across country to start a new role in the Bay Area. Prior to this I was working on a year-long contract which wasn't renewed. During the interview process I was looking for a full time role, but was convinced that this was a good opportunity, particularly to get my foot in the door back in the Bay Area where I'm originally from and still have family. During the interview I was asked specifically what type of contracting I would be open to and said that I was only interested in W2ing to a new role rather than becoming an independent contractor and billing, and I stated that I wasn't interested in 1099ing. The rate I provided reflected this as well. Turns out I've been onboarded as a 1099 and the rate that I was looking for as a W2. [more inside]
I am self-employed in Philadelphia and will soon be moving to small-town Michigan. I grok the business taxes here. I can't figure out the taxes there. Specifics inside. [more inside]
TaxFilter: Partner and I own multi-family home. How best to split up $$$ from rents, repair costs, mortgage, etc for taxes this year? [more inside]
Theoretically, say you are a small business/non-profit and you mailed off ~150 1099 forms to the IRS last week (deadline was 2/28). Say you came into work this morning and the 1096 summary form that is supposed to accompany the 1099s was found to have fallen out of the envelope and onto the floor before sealing. How would one go about resolving this?
There were a few years when I did not pay state or federal taxes. I'm not sure exactly which years, but probably 2001-04 is the window of time I'm looking at. I put it off until the last minute, then got overwhelmed by the paperwork and the forms and just gave up. I didn't make much money any of those years. I'm not even sure I owed taxes - in most cases I probably was due for a (tiny) refund. For the past several years I have worked on becoming more financially responsible and have regularly paid my taxes on time. I tend to forget about those years but when I do think about them I'm concerned. I'm just not sure what steps to take to resolve this. I'm not even sure which years I did not file. [more inside]
I've had a HRA administration company contact me selling their HRA administration plan. Is this a good idea for a spouse who is self-employed. [more inside]
Does being enrolled in a pre-tax transit benefits program affect how much you owe/get back when you do your taxes? [more inside]
Taxfilter: I sold a condo in April. I sold it for $5,000 less than I bought it for, but I walked away with some money because I had owned it for 10 years and paid down the principal. I had been renting it out for 4 years before I sold it because I moved to a city nearby. I also put about 10K into renovations over the past few years. Do I have to pay any capital gains taxes? Is it worth it to try to get any kind of credit for the loss I took when I sold it for less than I bought it for?
I've received a "notice of grant of stock option" from the company I work for, with a place for me to sign. [more inside]
I need help understanding taxes. I have a very standard tax situation, with two W2s as a result of a mid-year job change. I left Job A three weeks into January 2013 and started Job B two weeks afterwards. I entered my info into TurboTax. Job B: ~$800 refund. Job A: ~-$800 refund. Now I'm back at 0. I'm confused and disappointed, and apparently I don't have any ideas how taxes work. [more inside]
I'm a roughly average taxpayer who doesn't know very much about American tax law or the tax preparation industry. Should I keep ignoring it and filing my taxes by myself, or will I benefit from looking for professional tax advice? [more inside]
The mailing address on my W2 is incorrect and the employer refuses to amend it. How big of a problem is this going to be when I file my taxes? [more inside]
Can a freelance / self-employed person (filing Schedule C) deduct from her taxes the cost of business travel (airfare, lodging) that she was later reimbursed for? [more inside]
This question is about taxes, withholding, and multiple W2s. Can you help? [more inside]
My mother receives spousal support from a divorce, but it was as a separate contract between her and her ex-husband, not included in the divorce order. She's been having sobbing fits, unsure if she owes the government taxes this year. [more inside]
I have an occasional housekeeper who used to work for me very intermittently, and now it's becoming more of a regular thing. I estimate that in 2014 I will end up paying her approx. $2500. She is eager for me to report this income officially and do whatever my legal obligations are re: social security or whatever. I'm totally willing to do it - but have no idea how. [more inside]
Almost 50/50 custody, and after a year of agreeing that we'd split the child tax credit, all of a sudden she announces that since she's pregnant with her new man's child, she's keeping all of it. Snowflake details inside - get ready for indigence. [more inside]
I want to list my boyfriend as a dependent on my 2013 taxes -- but he has his wages garnished. I'm also wondering about him filing taxes. Even as a dependent, I believe he's able to -- and he needs to for FAFSA purposes. More details and questions behind cut. [more inside]
I just started working for myself in September. before I was on a W2. There is a deadline on January 15th for paying estimated taxes for self employed individuals. Are those taxes for the earnings I made in the last quarter of 2013 or for what I expect to make in the first quarter of 2014. What's an easy way to figure out how much I owe (or would owe). I'd like to note I didn't make that much working for myself yet so it's possible I don't even owe anything for Q4 of 2013. but I have no idea.
How do I pay taxes on the game show winnings I received? [more inside]
If I paid back an employer for training costs and business expenses related to the training - are these tax deductible? [more inside]
I started what is effectively a software consulting business this year. It's incorporated and I'm the only employee/owner/president/whatever. I'm filing the company's taxes for the first time now and my filing should be pretty simple. [more inside]
I'm a relatively new transplant to Oregon, so I didn't find out about the Oregon Political Contribution Credit until last April. And then I promptly forgot about it until I heard a fairly annoying ad on the radio reminding people today is the last day to make a contribution. Should I donate my 50 bucks to any particular cause? [more inside]
If a person lives* in Washington state but works** in Oregon, to which state does she pay state income tax? Oregon, Washington, or both? [more inside]
I have a very, very small business (a blog; it gets decent traffic and I made some money advertising). I have some questions, and I'd like to speak to a tax professional or attorney for probably less than 30 minutes. I'm in Los Angeles, CA. Can you recommend someone and give me a ballpark cost? [more inside]
So, in a nutshell here's the situation: I owe a significant amount of back taxes, and have the ability to pay - but want to see if it's possible to negotiate a lesser amount. [more inside]
I've recently started working on a couple of software projects that I hope will generate income in 2014. I'd like to form an LLC, but I'll probably end up doing that closer to completion since it's so expensive. Because my old laptop just wasn't up to snuff for development work anymore, I decided to purchase a new laptop a few weeks ago. Now I'm worried that I may have missed out on a sizable tax deduction. Assuming I can't take the laptop off my taxes in 2013 (no LLC, no revenue), is there any way I'll be able to deduct a purchase made in 2013 as a business expense in 2014?
Can anyone recommend a good 'affordable' accountant that could reach out to the IRS and get the straight scoop on an IRS mishap (on my part mostly) from 2007-2008? Would like to get this straightened out as soon as possible. [more inside]
My legal name and gender change court order will be finalized in late January and I will immediately go and change my SSA, DMV, and birth cert information. My W2 will probably arrive before I can get my new documents to my HR department. Will this cause problems filing my taxes? What should I expect and prepare for? I'm in California and use Turbotax.