Questions related to the earning of money (or other capital) within a specified time frame. Topics such as methods to increase income, account for it, track it, analyze it, or disclose it are all appropriate, but discussions of *income tax* should use that tag instead.

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33 views

Tax implications of roommate rent from unofficial apartment sublet

I'm currently renting a 2/2 apartment in the US that is managed by a REIT (NYSE:MAA). I set it up in which I am the sole responsible lease holder and have added a roommate to the lease as an occupant ...
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1answer
19 views

How do parent companies collect/handle net income from their subsidiaries?

Say Company A purchased 100% of Company B, and in 2012 Company turned over a net income of $X Were Company B to be its own owner, the $X would go in their "pockets", their bank account. But seeing ...
3
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0answers
61 views

Is the repayment of monies loaned to my company considered income?

I have been working diligently for years to get my business off the ground. I have been funding its monthly operation via my personal funds, each month lending the company (an LLC) just enough to pay ...
1
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1answer
109 views

How much house can I afford, waiting around 3 years or so

I'm trying to think ahead and save as much as I can so I can afford something nice. Here are my assets: 180,000 in mutual funds growing around 10-12% a year (hit 16% last year) Have zero debt and no ...
0
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1answer
59 views

What suggested supplemental income opportunities exist for a 70 year old Canadian retiree?

This is similar to the question "Extra revenue for retiree receiving a basic public pension", but focusing not on whether, but what. I am wondering what forms of supplemental income (jobs/gigs) would ...
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0answers
25 views

USA bank account receiving funds for my business in India : How to calculate tax

I am planning to start an online tech support business from India. I do have a USA bank account and I can setup a payment gateway via paypal for my business. I will be doing all the support from India ...
5
votes
1answer
153 views

Is tuition reimbursement considered taxable, earned income?

I am a student paying tuition to attend a University. I worked in a lab, so I received a "reimbursement" on my tuition (that is how the University denoted the compensation). Does this "reimbursement" ...
4
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2answers
126 views

If I buy goods for a friend, and then he pays me cash and i deposit it. Will I get in trouble?

I have a friend from Mexico that asked me to buy flight tickets for him. Its about 2,000 dollars, and he's going to give me the money in cash so I can deposit it in my account and pay my credit card. ...
4
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1answer
110 views

As a minor in the UK do I need to pay taxes on self-employment income, and if so how?

I run a game community which is based around Minecraft at the moment with just under 40,000 registered users and I want to expand to YouTube which is in the works and other games. We relaunched ...
2
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2answers
155 views

Investing in income stocks for dividends - worth it?

I currently have a 401k that I'm maxing out for this year ($18,000) and a Roth IRA that I'm maxing out ($5,500). I'm a bit behind on investments, but because of my income I think that I can play a bit ...
2
votes
1answer
77 views

Maternity payments taxable income?

Paid maternity leave in my country of residence is paid by the government as a social security insurance benefit, rather than by the employer. Is it treated as taxable income on my US return? Edit: ...
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0answers
20 views

Managing income from US company in Eastern European country

I am looking for a general advice on how to better inform myself, to see what are my options and find a solution about what to do with my income. I understand that this might sound silly, so I will ...
0
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1answer
34 views

Freelancer - taxes in India for working for Spainish company

I would be starting as freelancer for one of the European company where the products will be promoted in Indian market , hence would be traded from Europe to India . The same company has plans to ...
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1answer
63 views

How do I get my Loaned money back to US

I am a US citizen. I lend some money to my dad back in 2009 and 2011 as he had no source of income so I send my savings to him so he could use the annual interst as his income. I have a loan agreement ...
0
votes
1answer
83 views

As a J-1 visa holder, am I allowed to make additional income in the US?

I am living in the US under a J-1 visa. I am thinking of building and launching an iOS application that might bring in some additional income from the App Store (potentially hundreds to thousands of ...
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2answers
69 views

How do I find out the Earnings Per Share of a Coca Cola Co Share?

I am trying to figure out the P/E ratio, mainly. But first I need to figure out the EPS (earnings per share). I have read that to calculate price/earnings ratios you must find its earnings of last ...
0
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2answers
74 views

What's the proper way of dividing income/deductions wages between two states?

I started 2014 living in WA and working there. Starting on March 15 2014 I got a new job in CA and started working there. However for about three more month my family was still living in WA and was ...
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1answer
52 views

Indian citizen. Moving to Brunei. Working as freelancer for US company. In which account do I get my salary transferred?

I am an Indian citizen living in the US for last 4 years. My husband will be transferred to Brunei starting July and I will join him too. My US employer wants me to continue working as a freelancer ...
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1answer
74 views

Portfolio Diversity : invest $4000 into one account or $1000 into 4 accounts?

I have a simple question : regardless of portfolio diversity and how it could be a more stable source on income, i'd like to know what system will produce more money ? $4000 into one account symbol ...
27
votes
6answers
4k views

What, if any, are the downsides of direct deposit?

After many years, my employer is offering direct deposit. I've used direct deposit before at other jobs. Are there any downsides or cons to using direct deposit?
2
votes
2answers
379 views

2 names on US tax refund, filed as 'single'

I recieved my US federal tax return earlier this month. When I first looked at the check, I noticed it had a % symbol, followed by my mother's name on the line below the one with my name. it looks ...
2
votes
1answer
75 views

Can I deduct remaining LLC losses against W2 wages once the LLC is dissolved?

I have been a minority owner of an Ohio LLC. The franchise closed in 2009 but the LLC just dissolved December of 2014. I haven't been able to deduct losses from my W2 wages as I haven't been actively ...
3
votes
1answer
1k views

I withdrew cash from U.S. ATM (not U.S. bank card) and put it into U.S. bank. Is it taxable income?

I'm filling tax return forms 1040NR-EZ, 540NR-short for non-resident (I was exchange visitor in U.S.). When I was in U.S., I withdrew cash from an ATM using a card from an account of mine at a non-US ...
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0answers
36 views

I Used the Equity from my Home Sale to Pay Off my Current Home. Taxes?

We sold our home in 2013, and put the equity into a savings account. We then used the money to pay off our current home in 2014. How do we report the transaction on our taxes? It's not exactly ...
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1answer
59 views

Pay off Home Buyers Plan - or not

I am single and retired and owe a balance of $4800 on my HBP with 4 years to go repaying at $1207 per year which I have to declare as income. I live on the Gov. CPP and OAS with supplements and with ...
2
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1answer
172 views

Starting a side business slowly

Inspired by this question and this question. I have been looking at some ways to try to earn extra money on the side to assist in my finances, and have come to the conclusion that the best way would ...
4
votes
2answers
278 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 ...
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2answers
82 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
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1answer
497 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
139 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
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1answer
59 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
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1answer
68 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 ...
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1answer
62 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
60 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
155 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
2answers
274 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
44 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?
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2answers
53 views

Income in zero-interest environment

In a zero-interest environment, what are safe (conservative) alternatives for income?
0
votes
2answers
188 views

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

If I send money from US to India in my parent's saving account will I have to pay tax in India?
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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
46 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
7k views

Is my paycheck correct for Provident Fund deduction at the new company I joined 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
200 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
302 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
212 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 ...
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2answers
87 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
127 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
33 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
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1answer
170 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
473 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 ...