Please help me understand whether I can write off my health insurance premiums. [more inside]
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]
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]
Looking for a CPA in Minneapolis for a fairly straightforward tax situation. [more inside]
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]
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]
If I quit my job in April and start working on my own projects, can I buy a new laptop in July and write it off as a work expense on my taxes, even though I might not actually make any money from my projects until next year? [more inside]
If I'm ordering something online and they're based in Canada, will I have to pay customs when they ship to the US? [more inside]
YANMA. I am working full-time and taking part-time classes at the same University where I work. They provide a full tuition waiver and just require me to pay taxes on the amount over $5250, as required by the IRS. These taxes are taken out of my paycheck over 4 months. Can I claim this amount somehow when I file my taxes?
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]
What withholding should I put in my W4 if I'm paying alimony/spousal support? [more inside]
What's the best place to live on a low budget given a life-consuming job in Manhattan near Madison Square Park? And how low can I go both before and after unintelligible-but-critically-important-tax-stuff?
What's the best place to live on a low budget given a life-consuming job in Manhattan near Madison Square Park? And how low can I go both before and after unintelligible-but-critically-important-tax-stuff? [more inside]
My husband and I are moving to NYC for work, but we own a condo in MA. Should we try to maintain MA as our legal, permanent domicile or should we just give in and call that our second home? What are the implications of working & renting in one state and owning a home in another? [more inside]
I am suddenly making a grown-up salary, with a retirement plan and everything. I need to talk to a financial professional about optimizing my taxes and retirement and building a perfect(-ish) machine that I don't need to think about too much. I don't actually know what this person is called. Am I looking for an accountant? A financial advisor? A financial planner? Or something else? Please help me overcome my laughable naïveté. Thanks! [more inside]
My friend, a dual Canadian/American citizen living in the UK, is discussing the terms of a trust with her (US) father. By the time she inherits, she may have given up US citizenship. Does this need to be mentioned so they can account for it now? [more inside]
Mr. Arnicae and I are married, but haven't filed our (U.S.) taxes jointly before. We're trying to figure out how to decide if it would be financially advantageous to file jointly, and what the negatives or positives would be. [more inside]
My partner and I are about to buy a house together, and we're trying to decide how to do this. We're gay, and hence technically unmarried, and we're trying to figure out the tax implications of the different options. [more inside]
Please explain the debate over whether or not to raise taxes on the wealthiest Americans. I am apolitical. I have no horse in this race. My knee-jerk response is that making the rich pay more in taxes sounds like a good idea, but I am neither (a) rich, nor (b) an economist. What are the economic arguments for not taxing the wealthy at a rate higher than the current one? My best guess is that it might affect jobs, but I honestly have no idea.
Are we in one of the rare situations where cashing out a 401K makes sense? [more inside]
I'm transferring my consulting business from out of state to west LA and I need to find an attorney to help with: - Forming the company - Helping me put together contracts for my clients - Coming up with a tax strategy Does anyone have a recommendation?
Question about 2011 US federal tax deductions and married filing status: Trying to fix a problem with my tax return; please help! [more inside]
I'm new to China and I have been told by my employer that I can only deduct laundry and restaurant bills from my income tax. that sucks since I was planning to purchase a lot of photography/computer gear that's relevant to my job. is there really no way for me to get a tax deduction on these items?
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]
Why do most central banks target a small non-zero inflation rate rather than zero? - Bank of England target is 2% CPI - European Central Bank HICP target is "less than 2%" - US Federal Reserve target is 2% Why don't they all target zero if the ultimate aim of policy is actually "Price Stability" as most officially state. [more inside]
How important is it for me to get an accountant now that I'm earning most of my income as a freelancer? Can I handle taxes on my own? [more inside]
Does Romney want to remove deductions for 401k to help pay for his 20% "across the board" tax cut? [more inside]
My dad tells stories of New York tax collectors hanging out in the parking lots of popular New Jersey malls and Ikeas and the like, writing down NY plates and sending estimated sales tax bills or "reminders" for the voluntary portion of their bill. Is this real or apocryphal?
I tried to find similar threads on google but there doesn't seem to be any. Is there a way to make my SSN information private? [more inside]
Just started as an independent contractor - and I just got married. Self-Employed Taxes are due in ten days! Please help me figure out what I need to know! [more inside]
Tax Credits for Complicated-ish Work Travel? [more inside]
I have several years of un-filed taxes. I'm in NYC. I've been, mostly, a freelancer. Things are getting scary. I need an understanding, skilled, non-judgmental accountant. [more inside]
I'm straightening out my taxes for 2010 and 2011, and I had a couple of questions about HSAs that I hoped you guys would be able to help me answer. (I know you're not my lawyer). [more inside]
While researching healthcare, I came across a firm that works sort of like a back office for independent contractors. You set your rates, clients, but for a fee the billing goes through them, they take out taxes, offer benefits, etc. I can't find the link or recall their name. Help?
Should I pay off my wife's student loans? Should we file our taxes jointly? 60K in student debt! [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]
Why doesn't Obama or any politician for that matter use graphs to explain things? For all of their sophistication in Internet and social media, why doesn't the Obama campaign just go on television and show the American people a damn chart? Are we that stupid or am I missing something here?
Do presidential/prime minister candidates in countries other than the United States release tax returns? [more inside]
So I was just wired ~$23,000 into my checking account from a foreign bank. How much (if any) tax do I have to pay on this? [more inside]
What is the best way around this mortgage and first time homebuyer tax credit situation? [more inside]
Can I classify my house as a rental if I turn my mother into a tenant? [more inside]
My house sold earlier this month. I am not buying a new house right away, but... maybe? How long can I wait? How will this affect taxes? And if I could buy property, should I in order to avoid penalties (if there are any)? You are not my lawyer or my accountant, but way more details with a little bit of drama after the jump. [more inside]
I just found out my accountant screwed up and never filed my 2011 taxes. No one at her office is returning my emails or messages. My tax situation is now a complete mess. I don't know where to start to fix this. Help? [more inside]
I'm seeking recommendations for tax consultants in the UK, or in the US, or maybe both, to figure out where I need to pay taxes. [more inside]
What are the benefits of being an independent contractor? [more inside]
Please help me settle a debate... who is responsible for filing a corporation's tax forms, a sole shareholder or an officer? [more inside]
Help me with a "24 hour rule" in regards to expat taxes and being in transit. [more inside]
Started a new freelance gig and got my first paycheck. It's lower than I expected. Should I ask about this or would it make me look greedy? [more inside]
I'm trying to find information about taxes and volunteer paid experimental (non-clinical) studies. I work in a lab, and one of our participants told us a week ago that if a study pays (the volunteer) over a certain amount, it gets taxed. Can anyone tell me if this is true and give me an official link? We're in Philadelphia, PA, USA. I can provide any other relevant information you need. Thanks!
received 1099-misc. i earned this income over 8 months while consulting for an american company abroad.any special deductions for me?easy way to deduct daily expenses?advice? [more inside]