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]
Can we split the tax exemptions by giving one parent two children (exemptions) in odd years, one child (exemption) in even years? [more inside]
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]
Tax Refunds! When i leave mexico, will i get the value added tax back? [more inside]
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]
My CPA didn't do my taxes. What's the best way to proceed? [more inside]
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]
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.)
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]
Two parter about freelance translation: What do I charge and what do I do about (foreign) taxes? [more inside]
How can I estimate the total savings from an $1850 tax deduction? [more inside]
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?
Please fill in the following advice: "Expect 1/x of your salary to go to taxes." [more inside]
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?
What is the best path for me to get a job doing forensic accounting for the IRS or a similar EU body? [more inside]
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]
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]
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.
Do lenders make loans to cover property tax bills? [more inside]
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]
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]
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]
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]
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]
Hope me with Turbo Tax. [more inside]
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]
My tax preparer reported I contributed more to my Roth IRA than I actually did. Does this matter? [more inside]
Is there any reason for your accountant to need your date of birth? [more inside]
My tax return was sent to the wrong address. What should I do? [more inside]
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]