I always do my own taxes, but this year I've got a new baby and a bunch of questions. Will you help me choose the best route? [more inside]
Question for a friend living in the US who is wondering about transferring and selling stock and its effect on taxes and tax bracket. His grandparents gave him some stock shares as a gift when he was a child in care of his parents. He would now like to transfer the stock to his own name and sell it to pay for school this year. How will this affect his taxes for the 2011 year? [more inside]
Is a person exempt from income tax if he is living in a nursing home and on Medicaid? [more inside]
Let's say Jack is in his 20s and in March 2011 he gets his first ever paycheque of $1000. He wants to put $100 into an RRSP account. When can he make this first deposit? Is it right away in March 2011, the first day in January 2012, or in April 2012 after he finally gets all his tax forms and files his taxes, getting a notice of assessment that states his contribution limit?
I'm scanning my financial records to PDF with my new Fujitsu ScanSnap. (So wonderful.) Are there things I should keep in paper form, other than, say, my car title and social security card? What about my past tax returns? [more inside]
StateTaxFilter: Last year I owed the state $3. This year I seem to owe the state over $400. Could this be an error, and, if not, why do I owe so much? [more inside]
What benefit would a tax credit be to a non-profit, tax-exempt (501c3) organization? [more inside]
Doing taxes in the cloud--it sounds so dreamy that way. [more inside]
How do I file taxes? [more inside]
Can someone explain to me how buying residential real estate in a major/expensive U.S. metropolitan area makes any sense whatsoever? I'm really not seeing it right now (and yet I would love to join the landed gentry). [more inside]
My LLC is going legit January 1st in Michigan. I'm a brand new business owner in an economically depressed state and I'm starting to turn a profit which means dealing with taxes and the IRS. I'm young, I don't know anything about business taxes, and I'm somewhat frustrated at how painful this is for a new business owner who just wants to pay his fair share. I have an accountant who I know is really good, but I need to know kind of the general picture of what is happening so I can stay on top of things. I don't want to throw it all on the accountant and I want to be proactive. [more inside]
[Tax filter] You are not my accountant but the H&R Block Business center is closed for the holidays and I'm stuck on some S-Corp tax and payroll questions. [more inside]
My roommate and I are planning to register an LLC (a web startup) in Pennsylvania. We live in Philadelphia and work from home. We were told that if we register the LLC at my roommate's parents' house in the suburbs, we can avoid paying the higher city taxes. [more inside]
You are not my accountant, but maybe you can answer my 401k/tax question, in EXTREME LAYMAN'S TERMS. [more inside]
GoogleFu Failure Filter: Help us find specific legislation excluding Tootsie Roll Inc from paying sugar tariff [more inside]
As a one-person S-Corp that has only purchased approximately $400 worth of business supplies from Amazon.com throughout 2010, how likely am I to get audited over the sales tax issue? [more inside]
How many small business owners earn more than $1,000,000 a year in taxable income? [more inside]
Am I REQUIRED to fill out the W-11 form that my employer has included in my new hire paperwork? Long story short, I (grossly) abbreviated the length of my recent unemployment in my job interview. [more inside]
Can anyone personally recommend a solid tax attorney in or around Portland, Oregon, with experience handling back taxes and liens? Thanks in advance.
We secretly got married a few months before our wedding. Who do we need to tell? We're in Pennsylvania. [more inside]
My boss at my new job has most likely been mischaracterizing his employees as 1099's rather than W-2's. They paid their federal and state income taxes, but never their social security. Now they owe back taxes and penalties. Who's liable? [more inside]
As a U.S. resident and citizen, what happens if I neglect to claim income from a Canadian company? [more inside]
Anec-data needed regarding dependent care FSAs and boneheaded people (ahem - me!) who unintentionally abuse them. [more inside]
I want to get a business license so I can buy products from businesses-only wholesale stores like Jetro. I would not have any income from the business. Would starting this business as a sole proprietor (no fictitious name) expose me to additional tax liabilities for the income from my regular job? Company business category would be Computer Consulting. This is in New York state, Brooklyn specifically.
Can I write off the extra driving I do for my job? If so, how do I go about doing this? [more inside]
I work full time in the US. A European company wants to hire me as a consultant on a contract basis. How can I minimize my tax burden? [more inside]
I'm sure this has been asked many times before on AskMeFi, but I wasn't able to find a query like mine: I'm late paying my taxes. No problem? I'm living abroad. More inside. [more inside]
As a freelancer, how do you keep track of your tax deductions? [more inside]
New job is 99% awesome. The 1% of not-awesome is that I've been told (essentially) to figure out my own state tax deductions. Help. [more inside]
I started a side business in 2009 and operated at a loss. I did a terrible job of record-keeping. Should I submit deductions, or just forget it? [more inside]
I would like to discuss with my boss the possibility of moving from full-time employee status to contractor. My primary question is about health insurance, though I have some more general questions as well. [more inside]
How do I go about proving an uncollectible debt? [more inside]
I'm assuming that there will be legitimate deductions I can claim for expenses come tax time (in Québec), and I'm wondering if anyone can advise as me to what they might be? Computers? Gas? Rent? Anything else? [more inside]
Stupid tax question: I live in the U.S. If I'm paid on a contract basis for consultant work by an overseas corporation, do I have to pay income tax on that money? In this equation, am I just a regular-joe 1099 contractor? [more inside]
Are most U.S. citizens looking at a federal tax hike next year? I can't seem to find reliable data on this. Would such a hike apply to money earned 2010 or 2011?
In double-entry bookkeeping, are taxes a liability or an expense? [more inside]
YNMA, obviously... wife and I overestimated our dependent care expenses this year...by a lot. I have to come up with valid expenses, for the remainder of 2010, that we can occur to cover 3K remaining in our account. Any ideas? We did the camp thing this summer, but ended up not signing up for a few of them from our original budget. Our son is in kindergarten at a private school, so we're past the time we can pay for tuition out of this account. PLEASE HELP!!!! Thanks mefite nation!!!
IRS woes! I've gotten myself into a little bit of a pickle, and I'm not sure how large it is. I made all of my state tax payments for 2009, but only half of my federal. I haven't gotten in contact with the IRS about paying the remainder. Basically I've been scared as hell, and would like some advice on how to proceed. [more inside]
Is there really one airplane for every eight people in Wilmington, DE? [more inside]
TaxFilter: I'm a Canadian who began a Ph.D at an American university. Tuition was waved and I received a living stipend of about $17,000 (paid monthly). This is pretty typical for graduate programs across Canada and the US. [more inside]
Anyone know what interest rate that the IRS charges on back taxes? Can't find this info anywhere. Thanks.
I'm having a Canadian friend buy me an iPhone 4 in Canada (I'm in America.) How much is this going to cost? [more inside]
Hi, I am Mrs. (or Mr.) Long-Term-Unemployed, in the US since January, conveniently for tax purposes. My last job wasn't covered by unemployment insurance so I have been living off my very meager savings. This is starting to run out and I have been taking odd-jobs for cash, literally. If this keeps on until the end of the year how should I do my taxes? [more inside]
Freelance Writer Tax Write-Off Question: I'm a first time independent contractor and want to know how and if I can write-off a laptop. [more inside]
I did our taxes through TurboTax. I thought they transmitted correctly. They didn't. I just realized this. So are we going to jail for tax evasion? [more inside]
Problems you'd love to have Filter: my boyfriend's parents just gave him a house. What should we know, and what do we do now? [more inside]
If I sell off some of my books on Amazon, is that income I need to pay taxes on? I ask because I'll generally be selling my books at a loss - they're books I bought for myself, am done reading and want out of my spare bedroom. It's not exactly the product of a business plan.
Getting divorced and my ex wants a portion of my 401k as cash out. Should I get a loan against my 401k or take the disbursement and the tax hit? [more inside]
A friend and I are starting up a company. The company will be domiciled in New York City, possibly incorporated elsewhere. We have attorneys who will give us legal advice about incorporation issues. We also have investors who will give us financial and accounting advice as needed, though I come from a finance and accounting background. What I don't know too much about, though, is the various taxes to which a corporation is subject. More detail inside. [more inside]
I need help with my inheritance in another state... [more inside]