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6
votes
1answer
122 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
1answer
29 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
0answers
45 views

How to calculate tax liability for consultant in India working for a foreign company?

Suppose a foreign company is paying complete 9 lakhs per year to a consultant, without withholding any taxes i.e. 75k per month. Suppose following information - Savings 1,50,000 Rs per year ...
1
vote
2answers
77 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
18 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
50 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
338 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
372 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
93 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 ...
2
votes
1answer
190 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
100 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
201 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
111 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
172 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
88 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
226 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
4k 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
54 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
45 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
17 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
85 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
175 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
990 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
97 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
522 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
511 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
199 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
330 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
134 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
87 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
1k 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 ...
1
vote
1answer
92 views

Is household disposable income a real or a nominal value?

I downloaded Quintiles/Deciles ordered by household disposable income (Turkey, Urban, Rural)) data from Turkish Statistics Institue. I have looked at the provided data, but it doesn't indicate if the ...
2
votes
1answer
171 views

Foreign national moving from US to Canada, how to file tax return (340 days in US)

I recently started a new job in Canada in mid-December, which means I am only on Canadian payroll for 3 weeks, and for most of the year I was on US payroll with my previous employer. I am a citizen of ...
3
votes
1answer
61 views

How do online referal systems work?

There are sites on the internet which promise to pay money for just referring traffic. How trustworthy these are and what are their sources of income? Are these sites worthwhile to consider for ...
7
votes
3answers
455 views

Is the money that you get back from deposits or rebates taxable?

Please help me understand if the following two items are taxable or if they should be included at all on the tax report: Rent deposit. A few years ago, when I moved in my previous apartment I put a ...
4
votes
1answer
583 views

What does the “SEC 30-Day Yield” mean for a Bond ETF?

I'm currently a student awaiting admission into grad school and have about $10,000 in a Scott Trade account ready to invest. Because I'll be using the money to pay for moving expenses and anything ...
4
votes
1answer
2k views

New York State Tax allowances (IT-2104 2012 vs 2011)

I have recently changed a job and trying to figure out how to fill-in the IT-2104 form for my new employer. The biggest problem for me is that I cannot understand the amount of allowances to claim ...
3
votes
1answer
3k views

Tax implications of corporate housing

If my company provides corporate housing for me, am I required to claim the rent amount as income for my personal earnings? And is that taxable income? I'm trying to figure out how I can leverage ...
4
votes
1answer
78 views

Renter starts next year, but advance checks received this year. How to report the income for tax purposes?

I have a renter who will start occupying my second home in January. He will provide checks for the first and last month in December. The IRS states that income should be reported in the year that I ...
6
votes
1answer
88 views

When “someone makes X dollars a year in the US”, is that gross or net income?

I often hear/read the phrase "makes X dollars a year". Could you elaborate what this means? So, for instance, if someone makes 45 thousand a year (in the United States), how large is his monthly net ...
2
votes
3answers
592 views

Organizing Expenses/Income/Personal Finance Documents (Paperless Office)

I've been trying to organize my personal finances for awhile by moving to a "Paperless Office" (PO from here on out), but I haven't been able to reach anything that satisfies my need for intuitive ...
0
votes
3answers
78 views

When they list the income of someone, is it the monthly or yearly income?

When they list the income of someone like Steve Balmer ($1,267,670) in wikipedia, is it the monthly or yearly income?
5
votes
1answer
208 views

What is a good asset allocation for a 24 year old planning to do a startup?

I am planning to quit my current job and do a tech startup. How should I invest my savings of ~$210K? Assume that a fixed amount X = $2000 gets withdrawn per month and the aim is to maximize the ...
5
votes
6answers
1k views

Changing jobs as a strategy to build a good income?

In most professions, it seems that when you change jobs, you are eligible for a pay hike (at least up to a certain ceiling amount). My questions are: Is this a viable long term strategy to ...
1
vote
3answers
141 views

What happens to your ability to borrow money based on our joint finances?

We want to borrow money to buy our first home. We will be married soon, and want to know how the combination of incomes, expenses and debts will impact the ability to get a mortgage. There's the ...
9
votes
8answers
695 views

Switch from DINK to SIWK: How do people afford kids?

Currently my wife and I both work, and we have no kids. We have no debts (besides our mortgage), live very frugally (friends call us cheap), and are roughly breaking even. We would like to have kids, ...
8
votes
6answers
328 views

How do I adjust to a new social class?

I've moved from a poor, working-class state to a better-developed, middle-class state in the US. Here's my problem: I'm having an extremely hard time adjusting to the price differences between the ...
3
votes
2answers
2k views

W-8BEN? What's the tax from selling my software to a U.S. company, from abroad?

I am developing software program (I live and work outside of US - Europe, I don't have a company), and now have a client from US which wants to license my program (pay me money so he can use it). He ...
3
votes
4answers
183 views

Do tradespeople get paid as well in other Western countries as they do in Australia?

In Australia, the most highly paid professions right now are electricians and plumbers and tradespeople. I think this is caused by the mining boom, a housing shortage leading to a laboring skills ...