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4
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2answers
179 views

Planning to invest in stock, age 16

I've been planning to invest in stock to get started for the future, however, I'm concerned about taxes... if I was to get capital gains, and in a short time period reinvest it in another security, do ...
1
vote
2answers
37 views

What constitutes 'income' for credit card &c? (US specific)

I also have gotten several inquiries like this one My credit card company is asking for my current income citing "Federal Regulations" which started me wondering just what is considered ...
0
votes
1answer
51 views

NRE account in indian bank have to pay Income Tax in India

Please help me, i am working in Dubai base company and my work place is any other country Like Oman, Myanmar, etc. Only for work, i am going out side of India say 3-5 month/year. Company is depositing ...
0
votes
2answers
42 views

Can I deduct expenses incurred to earn side-income, while full-time employed - in Canada?

I've just been hired full time at a firm I used to independently consult at. As a sole proprietor, I'm used to writing off my home office space, various software subscriptions, equipment, web ...
1
vote
1answer
44 views

US resident collecting salary in a foreign account

I have my job based in United Arab Emirates, but I live in the United States. Can I continue to get paid in UAE Dirhams in my bank account in Dubai? Or do I need to transfer the same to the US? Does ...
1
vote
1answer
35 views

Indian Citizen Getting Paid for Working as Writer for US News Organization

I'm an Indian citizen. I'm doing a consulting role for a news organization in U.S. and getting paid on an hourly basis. The income would not exceed $1600 per month. The organization has asked me to ...
1
vote
1answer
56 views

Paying tax on monetary gifts

I live in Wisconsin and received $5,000 from a living relative as a one-time gift. Do I need to report this on my income taxes?
2
votes
1answer
52 views

How do I handle undocumented Income from consulting to a foreign firm

I occasionally do some consulting support (in the US) to a foreign firm. They don't send me any 1099 or W4 documenting the income, though they do a wire transfer to my account. How should I handle ...
1
vote
1answer
103 views

Can I have a side income without registering it as a business

I am full time employed. If I want to generate some income from a side hobby-business by buying and selling gift cards, at what point in time do I need to register as a business/corporation with the ...
2
votes
1answer
112 views

How is income from surveys taxed in the UK?

I'm considering doing online surveys from companies such as YouGov, that pay you for each survey you complete, but I would like to know more about how taxes work, so I've got a few questions. Are ...
2
votes
1answer
41 views

Certified receipt from IRS

We need to send a certified letter (return receipt) to the IRS for a insolvent estate. What is the address?
1
vote
2answers
51 views

Income in zero-interest environment

In a zero-interest environment, what are safe (conservative) alternatives for income?
0
votes
1answer
82 views

send money from US to India in parent's saving a/c

If I send money from US to India in my parent's saving account will I have to pay tax in India?
3
votes
2answers
151 views

What are the tax implications of selling shares inherited by me from my father and sharing the proceeds with my sister?

My father passed away recently leaving behind 65 lakhs in shares and 25 lakhs in FDs (Fixed Deposits). I am the joint holder in both the shares as well as the FDs. This amount has to be shared by me ...
0
votes
0answers
15 views

Income source in India and abroad [duplicate]

I am working in India and I get my monthly salary which gets deposited in my salary account after tax deductions. I am even filing my returns every year. Recently my co posted me to UAE for a long ...
0
votes
1answer
34 views

Independent Contractor to an US law firm

please advise me on the concerns of income tax i have. I'm an Indian citizen residing in India. I'm working for an Law frim in US as an independent contractor. i'm not sure if i'm liable for paying US ...
1
vote
1answer
368 views

How Provident fund is calculated in india

I am a software engineer, i worked in two organizations in those two organization provident fund was not deducted they credited me complete salary to bank account by monthly . Recently i joined a new ...
1
vote
1answer
185 views

How would the following income be taxed?

Excuse the lack of terminology here. A general contractor who is also a friend is seeking money to purchase, redo and then sell an existing home. He has about 85% of the total amount to purchase the ...
0
votes
1answer
72 views

New York State - NY Tax on Foreign Sourced Income for NY Non-Resident

I live in Connecticut (file as CT Resident) .. Work in NYC ((file as NY Non-Resident) Question: Can NY State tax any income that I earn while in Germany ? I understand that the United States taxes ...
5
votes
2answers
198 views

Issues with unfiled tax returns

My husband and I have 2010-2013 taxes to file. He refuses to give me his income information because he believes the federal govt taxing us is unconstitutional. So I just had 4 years of taxes filed ...
1
vote
2answers
76 views

Income tax Rebate on more than one property

I have purchased one house property at Bhopal. which is constructed. For which I paid Rs. 280800/ pre EMI interest & Rs. 260000/ EMI interest. I purchase another house property in Gurgaon. It is ...
2
votes
2answers
101 views

Side work and managing finances?

I recently started taking on some side work which is making a decent amount of money for me on the side. I am operating it under my own SS# currently and not an LLC. I was hoping someone could provide ...
1
vote
1answer
26 views

US-NYC Tax question about self-employment work online for a Europe based company

I've been doing contract work online for a company based in Germany. So far I've made about 2,880 from Jan-June $500 a month then $480 after paypal. I don't get a 1099 from them. But I was wondering ...
2
votes
1answer
133 views

Is Money earned outside India transferred in NRO a/c instead of NRE a/c taxable in India?

Money is transferred to NRO account but was to be transferred to NRE account is such income taxable in India
4
votes
1answer
382 views

Are search engine rewards taxable?

I have been using a search engine that gives you points that you can redeem for gift cards. As far as I can tell there is no way to get cash, without reselling the cards, but I can figure a monetary ...
-1
votes
1answer
675 views

$100k salary to the amount in pocket breakdown

Looking into the job market as an engineer with several years of experience (for example), it appears salaries are in the $70-110k range, so let's look at a "$100k/year" salary. Help me break down the ...
2
votes
2answers
134 views

When is money in a private stock sale considered income for tax purposes?

I am planning on moving outside of New York state, and I am also selling some shares of stock. The actual papers were submitted and dated before I will leave New York, but the actual wire transfer of ...
3
votes
2answers
951 views

Difference between Fortnightly and Monthly pay

I used to get paid monthly at base salary of 48k. I have recently changed my job and getting paid fortnightly with a base salary of 50k I did some calculation and found out that if I get paid monthly ...
1
vote
1answer
217 views

Is the fund received to my indian bank from foreign bank taxable?

I am Nepali citizen and I have ordinary saving account in Indian bank. I was also working here for 2 years in the past(3 years ago) and I have PAN card and bank account. Now I am living in India for ...
5
votes
2answers
214 views

How to deal with variable income in the budget

We have a budget planned out for various categories, and in order to make ends meet we count on child support for my wife's child from a previous marriage. However, lately we have not been receiving ...
4
votes
1answer
177 views

Long vs. short term capital gains on real estate

Can profit on the sale of a spec home count as long term capital gains if the land was purchased more than a year earlier?
2
votes
2answers
365 views

Per Capita Income VS. Household Income

One assertion I've read quite frequently is that household income is declining in the United States and that wages are not keeping up with inflation. In essence, these articles indicate that we're ...
1
vote
2answers
92 views

What sustains residential real estate prices in California when household incomes are low? [closed]

I have a question which assumes the accuracy of two links (here, for median income, and here, for median home price, both of which are in California). I'm going to make an erroneous assumption and ...
2
votes
2answers
446 views

How much lump sum investment in stocks would be needed to yield a target stable monthly income?

Situation: a guy has a lot of money. He wants to invest in stable and low risk stocks so that he could get a steady 1000$ a month income at least for the next 10 years (and having equal or bigger ...
0
votes
1answer
47 views

Where can I find information about the relationship between the owner of a company and its business administrator?

Through the past years, working as a employee, I have managed to save some money and now I want to buy a company. I chose a restaurant, because I already have experience in this area. However, I do ...
6
votes
5answers
8k views

What percentage of my income should go towards expenses?

Graduated in May from school. Student loans are coming due here in January. Bought a new car recently. The added monthly expenses have me concerned that I am budgeting my money correctly. I currently ...
2
votes
1answer
58 views

In what category would I put a loan I took to pay an expense

If I have to pay my phone contract which is 1000 and I took a loan of 2000 with interest of 300 to pay that phone contract, in what category would you put the loan - an expense, an income or both ? ...
2
votes
1answer
46 views

Does revenue equal gross profit for info product business?

For a small online business that has no employees or inventory and only sales info products, does revenue equal gross profits since there is no cost to make the info product?
0
votes
0answers
18 views

working for US Comany In India [duplicate]

An employee of US Company posted at Bangalore. The salary is credited by US company after Deduction of tax as per US laws then credited to the Bank account in India. Employee is resident because of ...
7
votes
1answer
102 views

Which tax year does a bonus fall under in Ireland?

Based on my work in 2012, my company pays me a bonus in January 2013. Should the bonus be taxed as part of 2012 income, or part of 2013 income?
4
votes
3answers
356 views

Can future rental income be applied to present debt-to-income ratio when applying for second mortgage?

If someone wants to purchase a second home as a source of rental income (and potential investment), would (or could) a lender apply the estimated future income from rent on to the present ...
3
votes
1answer
1k views

How do capital gains count towards gross income on your tax return?

In the US, when tallying gross income, do capital gains (short term or long term) count toward your gross income, before capital losses? OR do capital losses subtract from your capital gains before it ...
0
votes
1answer
104 views

Can you legally refuse to accept out-of-state income after quitting a job?

When you get income, you are required to pay taxes to a certain state. What if you worked on a W2 job, then quit and moved out of state, and then the accounting department pays you some symbolic ...
5
votes
2answers
834 views

Do I have to pay tax in US when my stay extends 183 days. I don't earn in US

I'm in US working with the parent company, my stay is about to extend 183 days. I don't get paid in US. My company in India under whose payroll I'm listed credits my Indian salary after deducting tax ...
1
vote
1answer
748 views

Salary account in gnucash: charge vs. income // example transactions

It might not be the usual thing to have on opening balance in a "Salary" account, but if one did, this is what I tried in gnucash: description: payday again :-) transfer: Equity:Opening Balances ...
8
votes
1answer
255 views

How to record the finding of 10 dollars lying on the street and their subsequent placement into one's wallet (in gnucash)?

Within gnucash: within the Cash in Wallet account: description: found some money in the street transfer: Imbalance-USD or create a new arbitrary one-off account called something like "Penny Lane" ...
5
votes
2answers
398 views

How do I handle taxes on a very large “gift” from my employers?

My husband just received a $700,000 "gift" from the partners at the organization he has worked for for over 13.5 years. These particular partners sold their share of the partnership, making an ...
5
votes
1answer
163 views

Qualifying income for Roth IRA for a child?

I'm thinking about my still-toddler boy, and trying to figure out how to help him get an income which would allow him to start contributing to a Roth IRA. I am aware that the value of such an IRA ...
3
votes
1answer
95 views

Does Medicaid pay for prescription drugs?

If you don't make much money, there are prescription advocacy programs like this one that one can take part in. However, if you don't make a ton of money, it seems to me that you're likely to be on ...
0
votes
1answer
2k views

What to fill out for NY State & City on IT-2104 for single person?

My daughter is starting a new full time job in NYC. She lives in Brooklyn. She owed NY State taxes. How should she fill out the IT-2104. Should it just be single 0 exemptions? Why would it be ...