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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1answer
32 views

income tax liability

My son is working in Nederland. He first transferred money to his saving account in India and from there he transferred the money to my saving account (about RS 7 lakh), I need to know whether this ...
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1answer
26 views

Which tab in FBAR form?

I am about to file FBAR. I see 3 tabs in FBAR form where account information is to be entered - separate/joint account, no financial interest, consolidated report. I have some mutual fund units (MFs)...
0
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1answer
57 views

UK tax question for low earner in previous tax year

I lived in Spain for 3 years and moved back to the UK August 2015. I started work Sept 15th 2015 and then finished on Feb 10th 2016. my taxable pay in that period was £9264.08 so I was not deducted ...
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3answers
133 views

Are “pre-tax” contributions to Traditional IRA a lie?

Suppose my salary for the year is $1000. My tax bracket is 10%, thus my employer has withheld $100 and I only ever get to see $900. Question #1: I would like to put everything I earned ($1000) into a ...
3
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1answer
90 views

Why is it so important to look at gross income over net when looking at mortgage costs?

I've been looking at mortgage calculators online lately since I plan on at least beginning to look into house shopping within the next 6-12 months (permitting I have enough saved by that time). ...
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1answer
74 views

US Tax : How to file interest on Indian Fixed Deposit (FD)?

I am an Indian working in US on H1B visa. I pass the substantial presence test and will be filing as a resident alien this year. I am little confused on how to report the interest on the Indian Fixed ...
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0answers
11 views

NYS taxation for out of state residents [duplicate]

I live 100% in Florida, but I have a commercial rental property in NYS. I set up a NYS sole proprietor llc that owns that property. The tenant pays all expenses including property taxes directly to ...
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1answer
116 views

Paying Income Tax from Day One [closed]

I can't find an answer for my problem here. I started to work from March 2015 and I payd from the first week of employment income tax . Now I have 1 year in this job and even now I can't find a answer ...
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1answer
38 views

IRA contribution income limits different than deduction income limit?

I never had to consider it, but am I correct in noticing that the income limits Traditional IRA contribution are different than the income limits for actually taking the tax deduction? The conundrum ...
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0answers
60 views

Can “other income” on 1099-MISC be restricted in use?

If a person received a check for funds that are reported on form 1099-MISC in box 3 as "other income", can the person distributing the funds require that the awardee use them for a specific purpose? ...
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2answers
102 views

Why is the room and board portion of scholarships taxable?

As the federal tax return deadline approaches, I am starting to plan for taxes. However, I don't understand why the room and board expenses in a scholarship are taxable. I am an independent student ...
1
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1answer
66 views

Double Taxation | Residency Status

Currently, I am in US. For this year's ITR, I have a question on double taxation. I left India on 4th Sep, 2015 and came back on 16th Dec and left again on 29th Dec for US. Now, I am coming back on ...
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2answers
90 views

If a employers supposed to calulate drive time pay with your weekly gross pay

I live in Nv if that matters. I have 2 questions My employer pays me $53.00 per job. A job is 1 to 4 hours so I make $12.50 a hr if broken down as a hourly pay. I also get drive time I keep a ...
0
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1answer
32 views

For non-resident aliens, are US oil royalties classed as effectively connected income?

I am a non-resident alien; I am retired and do not conduct any business within the US. However, I receive royalty income from some oil wells located in Oklahoma. Is this royalty income determined to ...
2
votes
2answers
63 views

Germany: Employee and Entrepreneur at same time (for getting AppStore payments)

Currently (in Ukraine) I am working as Private Entrepreneur. As Private Entrepreneur I can have several bank accounts in USD, UAH, ... So it is not a problem to receive Apple's AppStore payments (in a ...
0
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1answer
96 views

Can you deduct hobby expenses up to hobby income in Canada?

In the US you're allowed to deduct hobby expenses up to (but not exceeding) income from that hobby as part of your miscellaneous deductions. But I can't find a definitive source on the corresponding ...
0
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1answer
208 views

Questions on India income for US taxation

I am in USA for last 5 months of 2015 and was there for 4.5 months in 2014, so I am a resident alien in USA for year 2015. I have below questions for the IT return for year 2015 in USA: Do I ...
4
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1answer
44 views

Question About Tax Situation While Living Abroad - Need Advice

I have a somewhat unique situation, and I'm not sure how to handle. I moved to Sweden with my girlfriend late 2015 because she obtained a job in Sweden. I was able to come along and establish Swedish ...
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1answer
78 views

Is UK income which is exempted in UK taxable in India

I am a Indian citizen working in UK on a work permit. My salary in Uk is 36000 pounds.I have heard that in UK salary of 10500 pounds is exempted from tax and my company is paying tax on the remaining ...
1
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1answer
117 views

Living in LLC owned rental property

I have an LLC-sole manager- with rental properties in the US. I am considering downsizing and living in one of the rental properties. Should I pay rent to my LLC? What are the legal/tax implications ...
1
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1answer
225 views

What does IRS Letter 96C Mean when they say, “Determined no action is necessary on your account.”

I am trying to figure out what does it mean when you receive a letter from the IRS and it says: Thank you for your correspondence received June 4, 2015. We reviewed the information you provided and ...
15
votes
4answers
5k views

Paying Off Student Loans Early

I currently owe $34,558.00 in student loans ($31,000.00 principal + $3,601.83 unpaid interest accrued so far) with an average interest rate of 4.877%. I just started working full time ($70,000 GAI) ...
3
votes
1answer
72 views

How can I prove my ownership of government savings bonds?

I am in the process of moving to California from out of state, looking for an apartment to rent. I am currently unemployed and have no monthly income, but I have a decent amount of money in the bank ...
0
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2answers
104 views

How can you make three hundred dollars in a few weeks [closed]

How could you make three hundred dollars in a few weeks no job at the age of 17.
1
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1answer
141 views

Working out of India for UK company from 1 Jan 2016 on contract

I am working for UK company from India as a contractor from 1 Jan 2016. UK company will pay me in pounds. My query is what is best approach to get money in India? I was given few suggestions Work ...
0
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1answer
254 views

Calculating the Free Cash Flow (FCF)

I'm working on fundamental analysis on a public company, and am trying to calculate the Free Cash Flow for Facebook (FB) for the latest quarter - ending Sep 30, 2015, as shown below and would like to ...
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1answer
102 views

Fundamentals Look Great, What Now? [closed]

So after days of fundamental analysis on hunderds of stocks, I've narrowed it down to three that seem really good. Their margins are good, ratios are good, EPS and P/E are good, etc. What is the next ...
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4answers
108 views

Most effective Fundamental Analysis indicators for market entry

I am new to Fundamental Analysis. I purchased a few books on the subject which has proven valuable but time consuming. I was wondering if anyone with more experience than myself can recommend the ...
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0answers
73 views

Friend may owe outstanding taxes from previous year?

I was talking with a friend of mine when at some point we started talking about how she hadn't paid taxes for an internship she had done at a University overseas. Since she had been paid using a ...
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2answers
160 views

Using Square to transfer money to my personal checking account

I'm considering using Square to essentially allow me to use my own credit card to pay my mortgage. If I swipe my own credit card every month will that transaction be counted as income? I'm trying to ...
4
votes
2answers
205 views

Should I accept shares as payment?

My possible future employer offered to pay me in shares of the startup I would join. He dropped sentences like "brutto equals netto" and "We can pay you more in shares than in cash". Obviously there ...
1
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1answer
176 views

Why can't poor countries just print more money? [closed]

I know this is a really silly question that is really obvious, but what's stopping a country from just printing out a few more billion of their own currency and then using that money to buy goods from ...
2
votes
1answer
406 views

How are RSU's factored into Income during loan qualification?

I'm new to the tech industry and was wondering how RSU's factor into loan qualification. RSU's particularly at more established companies are essentially cash. They may change with the stock price ...
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1answer
205 views

No health insurance wants me, what to do?

Ive tried to apply to medicaid twice this year(2015) and both times, they have denied me. But when I try to find health insurance on the Obama Marketplace site, the private insurances block me out ...
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2answers
251 views

Why is tax being paid on my salary multiple times?

I live in USA. I am working for a small company that has around 35 employees, that is owned by one person (my employer). My employer pays taxes on the income generated by the company, pays my salary,...
3
votes
1answer
617 views

Do I need to declare the Rental Income from property in India while filing US Federal Tax?

Say I own a couple of units in an apartment complex in India and they were purchased in part by using inheritance (property) and in part by cash (funds from US). If the units are currently rented ...
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0answers
40 views

What taxes do I pay for working an event in Mexico?

I live in the U.S. but am holding an event in Mexico. People will pay to attend the event. How do I claim that income for taxes either in Mexico or the U.S. and what is the process for receiving ...
31
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5answers
9k views

What can I do to passively generate income?

I work 3 jobs totaling at 52 hours weekly. I don't have anything of value that I can sell for money. I put $10 into penny stocks a few weeks ago, but they don't gain much. I'm 25, and my savings is ...
1
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0answers
26 views

How to record third-party fullfillment [closed]

I'm interested in selling products on Amazon. Once I have sales coming in, Amazon will track all purchases, returns, etc and then deposit the funds after a clearing period into my bank account. Since ...
0
votes
2answers
135 views

How much impact does employment have on credit score?

I'm in college, so I'm not exactly employed, ignoring occasional jobs here and there. I'd like to apply for a few new credit cards, and I noticed I don't have employment on my credit report. My ...
3
votes
4answers
657 views

Is selling put options an advisable strategy for a retiree to generate stable income?

Suppose a retiree wants to generate stable income from selling S&P500 (or other stock index) put options. Is this an advisable strategy for a retiree?
2
votes
3answers
91 views

Are junk bonds advisable to be inside a bond portfolio that has the objective of generating stable income for a retiree?

Suppose a person has retired. He would like to construct a bond portfolio that generates stable income for his remaining days. Is it advisable to include junk bonds in the bond portfolio for that ...
20
votes
2answers
4k views

Is it legal for a landlord to report a large payment to a tenant using Form 1099?

I recently signed a Mutual Termination of Lease agreement with a landlord who purchased the complex I was living in (CA,USA). Part of the termination of lease agreement specified a large payment for ...
2
votes
1answer
254 views

Is the money sent by my son from USA to India is taxable?

My son is presently deployed to work in New Jersey, USA by his employer company of Delhi for 3 years. He is remitting money to my general savings bank account in India. Is the amount so received from ...
0
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0answers
21 views

What's the tax on a hobby crop income? [duplicate]

Say I harvest crop as a hobby on my land, and it's less than an acre. What's the tax on the crop income?
2
votes
3answers
202 views

What is the fastest way to retire, using passive income on real estate [closed]

Personal Stats: Yearly income ~$53,000, monthly expenses about $800, and about $10,000 saved up. I live in South Texas, USA. Using Real Estate as a preferred way of passive income, what is the max ...
2
votes
0answers
37 views

Income Tax Germany-UK - Different tax years

I've recently moved to Germany, how can I incorporate my earnings from the UK into German income tax system when the tax years are different? German tax year (Calender year) UK tax year (April-April) ...
2
votes
2answers
135 views

How do owners in a partnership earn income?

I am 1 of 2 partners (no employees) in a recently registered consulting business. Essentially we are 2 former sole proprietors joining forces. We are currently working on forming our partnership ...
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1answer
66 views

New business owner - How do taxes work for the business vs individual?

I have a business that is in it's 2nd year and has now made $400ish. I have the money just sitting in the business bank account. I do have a business partner. A couple of questions? If we leave ...
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3answers
144 views

Is a discount reported as income?

I will owe $600 to my child's private school (run by a non profit). I have agreed to teach one of the classes, so instead of paying my bill, I would rather have them deduct what I owe from my ...