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Fair Exemptions

Can we split the tax exemptions by giving one parent two children (exemptions) in odd years, one child (exemption) in even years? [more inside]
posted by anonymous on Jun 24, 2010 - 9 answers

Strategy for maximizing tax benefit on new vehicle.

I am about to put a new-to-me truck on the road for my business. Is there more benefit to claiming a lower purchase price (to reduce immediate sales tax) or to paying the tax now and deducting the full amount from my income? [more inside]
posted by KenManiac on Jun 20, 2010 - 3 answers

Hey Taxman

Tax Refunds! When i leave mexico, will i get the value added tax back? [more inside]
posted by freddymetz on Jun 12, 2010 - 2 answers

I'm in good Company...

I am now the proud owner of a business. What kind of tax-y advantages are available to the president of an S-Corp? [more inside]
posted by Spyder's Game on Jun 8, 2010 - 13 answers

CPA didn't do my taxes. What now?

My CPA didn't do my taxes. What's the best way to proceed? [more inside]
posted by jnnla on Jun 8, 2010 - 10 answers

What should I know about taxes as a salaried, traveling consultant?

How do I claim taxes working as a salaried IT consultant? I have a client in another state that I travel to on a weekly basis. [more inside]
posted by jwfree on Jun 2, 2010 - 2 answers

Do tax refund checks expire?

I just found my US tax refund check that was mailed to me in 2009, and never deposited. Last year, I filed my taxes on time, was mailed a refund, lost the check and never followed up. If I take this to my bank, will they let me deposit it? If not, what's the next step? (Anonymous because I'm ashamed of being so disorganized and so bad with money. I'm working on it.)
posted by anonymous on May 29, 2010 - 11 answers

The business side of freelance photography.

So I'd like to start an art day camp out of my apartment, but I've heard I may need a license or something like that. Does anyone know what kind of steps I need to take legally before I start this project? [more inside]
posted by wild like kudzu on May 28, 2010 - 8 answers

US freelance translator working for a foreign client?

Two parter about freelance translation: What do I charge and what do I do about (foreign) taxes? [more inside]
posted by squawk on May 25, 2010 - 4 answers

How can I estimate the total savings from a specific tax deduction?

How can I estimate the total savings from an $1850 tax deduction? [more inside]
posted by JacksonEsquire on May 19, 2010 - 14 answers

Tricky ways to get property

I've heard that a person can acquire a property for which the property taxes are in default by paying the back taxes. This seems fishy, and morally questionable, but is it true? In Los Angeles? Are there other tricky ways to acquire property?
posted by gilgamix on May 9, 2010 - 12 answers

Expect 1/x of you salary to go to taxes.

Please fill in the following advice: "Expect 1/x of your salary to go to taxes." [more inside]
posted by anonymous on May 7, 2010 - 22 answers

Tax question re net loss carry forward

If one lives in State A and sustains a business loss and has an eligible net carry loss forward that will run over several years, and then one moves to State B the next year after the year in which the loss is sustained, is it accurate that none of the net carry loss forward can be used in State B, eg although one still retains the benefit for federal tax purposes, moving to another state effectively loses the opportunity to use the net loss carry forward for state tax purposes since you're now living in a state in which the loss was not originally incurred?
posted by shoe478 on May 5, 2010 - 1 answer

That's how they got Capone...

What is the best path for me to get a job doing forensic accounting for the IRS or a similar EU body? [more inside]
posted by Work Related MeFi on May 2, 2010 - 8 answers

Happily ever after. Until taxes, that is.

An American guy and a Dutch gal met in Europe, got married in Vegas and now live in the UK. Looking for first person information from other multinational couples residing in a third country regarding taxation. [more inside]
posted by Mutant on May 2, 2010 - 9 answers

Didn't file 1099B correctly last year, got a letter

About two years ago I got into the stock market. I bought and sold a few stocks, ended up losing a few hundred dollars overall. I discovered a year later that I had to file a 1099B, but I wasn't really clear on the concept and couldn't figure out how to do it online, so I didn't get it done until like half a year after I had filed my regular taxes. [more inside]
posted by anonymous on Apr 30, 2010 - 6 answers

How to protect an inheritance/gift from taxation?

My dad passed away this year and my mom has very generously decided to gift the house to my sister and I rather than. The house is in Canada, I live in the U.S. (Permanent residence). My sister and brother in law bought my half of the house when the mortgage was due (approximately April 1st) so I now suddenly have a 6 digit lump sum of cash in a Canadian account. I have not signed anything yet. I want to protect this from taxation, I also don't want to jeopardize my permanent residence status or potential citizenship. I know I need a lawyer, but what kind and how do I find a good one? I am in Wisconsin, particularly Eau Claire since that's probably important.
posted by substrate on Apr 23, 2010 - 13 answers

Wanted, tax day lenders

Do lenders make loans to cover property tax bills? [more inside]
posted by anonymous on Apr 23, 2010 - 9 answers

This is why I don't gamble..

My family member went to Potawatomi Bingo Casino in 2006 and won a small sum of money. Fast forward to March 2010, she gets a bill from Wisconsin asking her to pay taxes, interest, and fees on the money she won. She calls and inquires about this, and is told she has to file a state tax return for Wisconsin. She wants me to do it on the computer, but I don't know what I'm doing. Help! [more inside]
posted by anonymous on Apr 22, 2010 - 7 answers

Do I have to pay taxes on money my parents give me?

You Are Not My Accountant: I'm concerned that I've illegally not paid taxes for the past three years because I assumed that "gifts" and "income" were two separate things. [more inside]
posted by anonymous on Apr 16, 2010 - 12 answers

W-2 MIA! SOS!

Girlfriend hasn't filed taxes yet. Her W-2 for Unemployment is missing, but she withheld the max amount. What do we do? [more inside]
posted by scaryblackdeath on Apr 14, 2010 - 9 answers

Emergency tax advice: US citizen worked ½ the year in the US, ½ in the UK. Please Help!

I’ve been living in London for the past 6 months, and somehow the US tax deadline escaped my radar until now. Help! [more inside]
posted by Danah_78 on Apr 14, 2010 - 13 answers

Questions on filing tax amendment

I filed my state and federal taxes last month; on each return I filed as a dependent, believing my parents were claiming me for last year. Turns out they didn't, so now I need to file an amendment. Should I pay the taxes I owed according to my 'dependent status' before my amendment is processed? [more inside]
posted by Think_Long on Apr 13, 2010 - 4 answers

Maybe that accountant was worth the $800 after all !

Hope me with Turbo Tax. [more inside]
posted by lobstah on Apr 13, 2010 - 6 answers

How do I maximize my education tax credits?

I have two years and $6,500 to pay my tuition. What I want to know is, what should I pay in tax year 2010 and what should I pay in tax year 2011 to maximize educational tax credits? [more inside]
posted by juniperesque on Apr 13, 2010 - 4 answers

Do I have to contribute as much to my Roth as stated on my taxes?

My tax preparer reported I contributed more to my Roth IRA than I actually did. Does this matter? [more inside]
posted by beyond_pink on Apr 12, 2010 - 10 answers

Is there any reason for your accountant to need your date of birth?

Is there any reason for your accountant to need your date of birth? [more inside]
posted by sesquipedalia on Apr 11, 2010 - 11 answers

Death, Taxes, and Identity Theft

My tax return was sent to the wrong address. What should I do? [more inside]
posted by anonymous on Apr 11, 2010 - 2 answers

How to report rental income through a property management company on turbotax ? Missing a 1099-MISC form.

How to report rental income through a property management company on turbotax ? Missing a 1099-MISC form. [more inside]
posted by jason9009 on Apr 9, 2010 - 2 answers

Taxes: Hope Credit + Fellowship = WTF?

Any recommendations for an affordable but good accountant/tax preparer in Tempe/Phoenix, AZ? Bonus points for thorough knowledge of graduate student scholarship/fellowship issues. I think I may need to file an amended return -- please hope me! [more inside]
posted by Alterscape on Apr 9, 2010 - 2 answers

Please help me get square with the gubmint

I need to file my taxes. The catch? I haven't filed for a few years. [more inside]
posted by anonymous on Apr 8, 2010 - 14 answers

can i deduct my laptop on my taxes in canada?

can i deduct my laptop on my taxes in canada? i live and work in ontario, canada. i travel for work (approximately 6-8 months in total in a year) and generally my laptop is always required for presentations and software demos. i purchased my own last year. the laptop is 100% solely dedicated to work. i have 2 other computers at home for personal use.... so can i write it off? bonus points for how to do it using quicktax.ca
posted by chasles on Apr 7, 2010 - 4 answers

April blues...

Tax question. [more inside]
posted by melangell on Apr 7, 2010 - 3 answers

Welcome to April - USA folks please commence the tax talk.

How much do donations reduce your taxes? (USA) [more inside]
posted by 26.2 on Apr 5, 2010 - 8 answers

The Taxman Cometh

In 2009, I made less than $9000 at my part-time job. Do I need to include this income when filing my taxes? [more inside]
posted by en el aire on Apr 3, 2010 - 17 answers

Mo' money?

Is getting your taxes professionally prepared worth the time and money? [more inside]
posted by lizjohn on Mar 28, 2010 - 17 answers

Is $8k worth rushing this?

How bad an idea would it be to try to buy a condo before the new homeowner credit deadline (April 30th)? [more inside]
posted by smackfu on Mar 22, 2010 - 10 answers

How much is $50,000 a year after state & federal taxes in Massachusetts?

How much is a salary of $50,000 per year after state & federal taxes in Massachusetts? [more inside]
posted by cheero on Mar 15, 2010 - 11 answers

How are kickstarter funds taxed?

So I, along with two other people are starting a magazine based out of Canada. We're planning to raise funding for it via Kickstarter.com but are worried that we're signing up for a nightmare of tax trouble. [more inside]
posted by 256 on Mar 15, 2010 - 0 answers

First Time Home Buyer Tax Credit?

My mother refinanced our house in September 2009 and to qualify for a better rate I cosigned the new loan - now the mortgage statement comes in both of our names. Since I've never owned a piece of property before do I qualify for the First Time Home Buyer Tax Credit?
posted by exhilaration on Mar 12, 2010 - 6 answers

At a loss...How to quickly calculate capital gains

Hi! I live in Canada and am catching up on my taxes. While I was a student I was day trading through a discount brokerage. Upon my request for a summary of Capital Gains/Losses, the discount brokerage I use told me that this is something I have to do on my own. [more inside]
posted by stealabove on Mar 9, 2010 - 3 answers

Are me and my dad in deep sh_t with the IRS?

Last year my elderly father became very ill and basically lost the ability to take care of himself and his affairs. He spent most of the year in the hospital and/ or nursing home. We spent much of the year struggling with his health issues and, in the process, neglected his financial affairs--namely, he didn't file his income taxes (2009 for 2008). [more inside]
posted by capcuervo on Mar 8, 2010 - 8 answers

tax preparer for a Canadian grad student in the US

Need a good tax preparer and other income tax resources for a Canadian living in the US who is both a student and self-employed; this tax situation is not simple and he needs someone competent in both US and Canadian tax law and the relevant tax treaties. [more inside]
posted by slow graffiti on Mar 5, 2010 - 4 answers

Need tax advice for a profitable hobby. Should I form an LLC?

I run a website that in recent years has started to generate a lot of income. I earned around $13,000 in 2009 with $9,000 in expenses (mostly server bills). Most of that 13k was taxed at 28% however, and my expenses were subject to the 2% rule. I was dinged with a nasty tax bill this year that I want to avoid next year. I'm wondering if forming a LLC makes sense from a tax perspective for me. I live in Maryland by the way. [more inside]
posted by rq on Mar 5, 2010 - 18 answers

Expat tax help

US taxes help for an expat. Recommendations for accountants in the UK? [more inside]
posted by like_neon on Mar 5, 2010 - 8 answers

How to readjust the fractional ownership of a house?

I am in a situation where % ownership of a house needs to be changed as a result of big life changes. We would like to do this without doing an actual sale among ourselves, but with the goal of selling the house and dividing the proceeds as we see fair, without paying big taxes. You are not my accountant, but maybe you can tell me at least what kind of an accountant I need? [more inside]
posted by blindcarboncopy on Feb 28, 2010 - 7 answers

Find me an accountant I can trust.

I live in Philadelphia and need an accountant. [more inside]
posted by audacity on Feb 27, 2010 - 4 answers

Help me through the confusion of tax season

Can you help me figure out head of household as we move in to tax season? [more inside]
posted by RajahKing on Feb 24, 2010 - 4 answers

Good accountant in or near Hoboken, NJ?

Looking for a recommendation for a good account in or near Hoboken, NJ to prepare personal tax returns. [more inside]
posted by Godbert on Feb 23, 2010 - 0 answers

Cash gifts on Canadian tax return.

Is this money considered a gift or income, and how do I claim it on my Canadian income tax return? [more inside]
posted by anonymous on Feb 19, 2010 - 5 answers

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