I am filing taxes for the first time in 5 years. What can I do to avoid mega-penalties? [more inside]
I need a good software tool to organize all my trips to conventions. [more inside]
It looks like we should file taxes on/for our in-home nanny, but we're not sure where to start learning about all we need to know. We're in California, and our nanny started in January, 2012. More details inside. [more inside]
Can someone give me a quick primer on the MBTA debt crisis? [more inside]
I'm filing my US federal and state tax returns by mail this year. I realized after stamping and sealing one of the envelopes that I mixed up the W-2s, so that the Federal copy (Copy B) is on the state return and vice-versa. Are the names just a formality, or do the Feds really, really need Copy B?
I have been doing my taxes for myself for a long time; late few years have done Turbo Tax on line. Very simple income, not much in the way of deductions, some 401k contributions thru my employer etc. I have never had to pay Federal Income Taxes albeit the refunds have fluctuationed over the years. [more inside]
[US Tax Filter] My daughter does not yet have a social security number. It seems unlikely she is going to get one in time for tax season. How do we file if we don't have her social security number? [more inside]
argh!! nooooooo!! my amazing tax accountant has decided to retire and is leaving me without any referrals. can anyone recommend an awesome tax accountant, bonus points for specializing in working with creatives. [more inside]
I've submitted taxes a few times in the past, but the forms were filled out by a surpassingly generous and competent friend with a lot of free time. This year for the first time I have to do everything myself. Please explain the process to me as if I were the stupidest person in the world. [more inside]
Is my egg donation compensation taxable if I don't receive a 1099 form? Details inside [more inside]
Simple (I hope!) tax question: my only income in Virginia for 2011 was unemployment benefits (~$9k). I now live in CA. Will I need to file a Virginia income tax return? I believe that in VA unemployment benefits are not taxed at the state level... so I shouldn't need to file, no? Thanks!
Should we file taxes separately or jointly? Pay off a chunk of student loans now or pray for forgiveness? Help me identify the interaction of these questions. I'm not good with money! Details inside. [more inside]
I got a large bonus this year which will probably never be repeated. After taxes, it was 26K. I don't have any immediate needs (no medical issues, etc), and I know next to nothing about investing. Given this economy, what should I do with it? Stocks? Bonds? Saving account? IRA? [more inside]
Recently I saw an article online in which a conservative argued that the battle to cut spending was unwinnable and that therefore the conservative strategy should be to raise taxes to the level required to maintain programs, the idea being that this is the only way to convince people that spending cuts are necessary. Help me find this article please.
Document checklist for a recently-married couple? What's crucial to get organized/updated in terms of legal/financial issues? [more inside]
I sometimes hear about someone winning a prize where somehow the taxes due are somehow offset by the giver of the prize. How is that offset calculated? Do they just add money to the prize until the post tax amount would be the same as the intended prize (so say 10% tax on $5,000 prize they end up giving $5,555.56. This involves the additional being taxed iteratively since it is all income to you. Or do they somehow just pay the government the money you would owe on the intended prize amount and the offset doesn't count as income. So for 10% on $5,000 they'd just pay $500. Or a mystery third option?
If I have the option, is it more advantageous for me to close on a house (tax wise) in 2011 or 2012? [more inside]
Help me understand taxes as a freelance consultant in the UK. [more inside]
How do taxes work on investments in mutual funds? I am a novice at investing. American citizen working overseas and building a portfolio finally. I've established my emergency savings and am heading into taxable investments. Unfortunately, I am unable to contribute to my Roth IRA or contribute to a traditional IRA while claiming FEIE (Foreign Earned Income Exemption) with the IRS. I'm looking into investing in Vanguard's VWINX fund. How would US taxes work on these investments?
If you pay estimated taxes and then end up not owing those taxes, do you get them back? [more inside]
Stay single or get married for tax purposes? [more inside]
A friend owes me $8k to $12k. What tax laws do I need to know? [more inside]
I need recommendations for an accountant, tax lawyer, or real estate lawyer in the Twin Cities. [more inside]
I've read How to pick an accountant for your online business and I'm ready to find a CPA, but a little lost on where to start. Online searches tell me who is good at SEO, but not who is good at tax advice. The few people I know with similar work situations are still doing their own taxes. I was comfortable doing that before, but my tax situation has grown complicated this year. So I'm looking for recommendations from people in similar situations. [more inside]
My mom is discussing purchasing a house and putting my name and my sister's name on the deed as well as hers. What questions should we be asking before she does this? [more inside]
You are not my tax advisor, but... We're a same-sex married couple in California, trying to make heads or tails out of the (confusing) IRS tax-filing pickle that is in effect for the 2010 tax year. We have to combine our community income, split it in two, add any individual income to the respective partner's form, and then create two separate forms for the IRS for each of us, but check the "single" category for filing status. Here's the dilemma: He gets a W2 (salaried employee). I freelance (several 1099s and a Schedule C). Do I have to duplicate the entire Schedule C across both forms, and put half of each deduction on my form and half on his? :-0 Or do I do the full deductions on my form and fill in something on the adjustment line (line 21, I think it is) on his 1040 form as a way of evening out the reporting? [more inside]
Does anyone have any advice about or know a good tax preparer experienced with international wages in LA (Pasadena-ish)? [more inside]
Help! I still haven't filed my taxes for 2010. Is there anything I can do? [more inside]
I work as a nanny. I work part time for 3 different families. They all know that nannying is my full-time career. Everyone's paying me off the books right now. They all should know better, one family is 2 lawyer parents. I want to pay taxes. Can I? I'm pretty sure I won't owe any taxes because I make so little and when paid legally I never have but the families I work for definitely owe their share on my wages. Will the families I work for all get audited if I try to file? What happens? Should I try to tell them that this is my plan? The last time I talked to a family about wanting to be paid legally the gig fell apart, it was a total disaster and I lost the job. I don't want to screw people over but I don't want to get screwed myself.
Corp-to-Corp computer consulting in CA- what's the deal? [more inside]
A friend and I are starting on a side project together - do we really need to incorporate? [more inside]
Will I need to pay taxes on this inheritance? [more inside]
My roommate told me I can buy a computer and get a full refund on my taxes because I'm a student. Is this true, or partially true, or complete B.S.? [more inside]
When an author, political figure or other speaker donates their speaking or appearance fee to charity, do they garner any tax benefits? Does this donation show up as a charitable tax deduction on their tax form? Does it show up as a charitable donation on the sponsoring organization's tax form? [more inside]
How do income taxes work when my income is not by W2s or invoices? (home day-care; house cleaning) [more inside]
How to avoid import taxes on a parcel from the US to the UK. [more inside]
I am trying to learn more/understand better my new tax situation as an independent consultant, and was hoping someone could help me with the following questions: 1. How do I compute my Net Earnings From Self-Employment (NESE)? What calculation is used? 2. Since I am excluded from Federal and State tax (my tax domicile is TX) for my foreign-earned income amount (I estimate it would be $87,500 for 2011) - can you break down how I can get the estimated tax payment amount for 2011? [more inside]
Is there a way to maintain your state citizenship while traveling within the country, and perhaps outside the country, for up to two years? [more inside]
As a US citizen, living and working abroad for many years, I recently heard of a new law that I must file tax returns on the US by Aug 31, 2011 or face a penalty. Anyone know about this? If US citizens live and pay taxes abroad, they generally are exempt up to $91,500.
Any accountants / tax lawyers in NYC area that do Dutch taxes? [more inside]
How do I accurately determine which state to claim as my 'tax' state. For example, I work/live overseas for 2 months at a time, then I get 1 month off and usually travel or go to the US, but I do not rent an apartment, own a home (have a lease or mortgage) - I usually crash on friends' couches, and I keep my belongings and car in NC (in a Public Storage unit), but my mail, driver's license and voting is registered in TX. Which state can I legally claim? I know I need to claim a domicile in a state, and was hoping it could be TX.
[Tax Filter] Tax on a lump-sum disability payment that covers a period of time before this year. [more inside]
My Taxes Filter: If I spend $2000 in self-employment income on equipment for said business (this is all the money I made on said business this year) will I be able to deduct roughly that amount and not pay taxes on the $2000? [more inside]
I didn't pay taxes (federal or state) on my unemployment benefits from January to June of this year. I also won't have any income besides that starting in July. How can I figure out if/how much I'll owe? [more inside]
I'd been wanting to form a corporaton for a long time. So many benefits it seems:
track business expenses for income-tax deductions
protect assets against law-suits
gain credibility for certain transactions
But all the gory details are getting me down... [more inside]
I butchered my state income taxes in 2008. New Jersey caught on with an audit, and now I owe NJ a lot of money. I suspect that if I did the taxes correctly, almost all of that money (except for 3 years of interest :( ) would actually come from New York State. Having screwed it up once with Turbotax, I don't trust myself to get it right by hand. [more inside]
Should I roll over my 401(k) and then convert it immediately to a Roth IRA? [more inside]
Corporate Job vs. Nanny, need appropriate questions to ask. (See within for more details) [more inside]
How much are taxes on buying a macbook in Toronto? [more inside]
Capital Gains on Precious Metals exchanged for Goods and Services? I own Platinum, Gold, and Silver physical coins, bars, etc. and know my cost basis for all purchases and have not sold any. Let's say rather than sell them back to a coin dealer or other similar entity, I exchange gold or silver or platinum for a service or good or something other than currency, what are the tax implications? [more inside]