For any question related to taxes and not otherwise covered by a more specific tag such as income-tax, sales-tax, etc. Whenever asking about taxes, please also specify a country tag such as united-states, canada, united-kingdom, etc.

learn more… | top users | synonyms (2)

3
votes
2answers
56 views

Signing up for a credit card to pay tax debt - pitfalls of 0% APR for the first year?

I have a tax debt of ~$3000 and am trying to find the best method of paying it. I applied for a credit card that offers 0% APR for the first 12 months. As far as I can tell, this is a much better ...
1
vote
0answers
12 views

Capital Gain or Loss Calculation for Mergers & Acquisitions (Canada)

I have a question about calculating capital gains/losses for mergers and acquisitions in which fractional shares and cash are provided as part of the transaction. What part should be listed as capital ...
1
vote
1answer
48 views

Is there a trick with ISAs in the UK

I was looking on ISA faq on moneysavingexpert and I noticed the following: I do not understand the trick, say I put GBP100 on a 3% account and that ISA pays 1%. Can I NOT pay tax on the GBP3 I made ...
0
votes
1answer
40 views

Is it possible to allocate pre-tax money to a specific stock?

Are there any programs that let me put pre-tax money into an account where I can allocate money into stocks instead of funds?
0
votes
0answers
24 views

Canadian Citizen and Non Resident for tax purposes

I am a Canadian citizen was a non resident for tax purposes. If I sold stock shares in January 2016 and became officially a Canadian resident again in April 2016 (3 months after selling the stock), ...
4
votes
1answer
65 views

Should I sell stock in my US bank account before abandoning US tax resident status?

I am citizen from one of the EU countries who has been living in the US on H1B visa for few years. Now I am considering to move back to my home country in EU. I have some shares in my US bank account ...
-2
votes
3answers
114 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
votes
1answer
12 views

When is my California LLC's Annual Tax due for 2016?

California form 3522 states that "the annual LLC tax is due and payable by the 15th day of the 4th month after the beginning of the LLC's taxable year (fiscal year) or April 15, 2016 (calendar year)." ...
0
votes
2answers
43 views

Tax Free Allowance

I started working on 21 March 2016 in my first job in the UK. How much tax should I have paid? It seems my company combined my salary with my April salary and deducted a lot of tax. Monthly salary ...
0
votes
0answers
22 views

IT Contractor in BC, Canada on 2 year visa - options for getting paid?

I have been offered an IT contract in BC, Canada - my first contract here in Canada. I have recently moved here from UK on a 2 year working holiday visa. I have my SIN and am free to work anywhere. ...
-2
votes
1answer
159 views

Is getting paid monthly better than getting paid weekly?

I live and work in Australia and I've been offered a contract that pays $1000 a day (including super) and the contract says I would be paid weekly. I've always used http://www.paycalculator.com.au/ ...
3
votes
2answers
131 views

At what point is the contents of a trust considered to be the property of the beneficiary?

My grandmother passed away several years ago, and left a generous trust fund to her 5 grand children. We can access our share of the money when either of the following two conditions are met: We ...
3
votes
1answer
79 views

Where is a telecommuter taxed?

If I am a telecommuter, say I live in Florida but work for a Company who's offices are in Pennsylvania, am I subject to PA state and local taxes?
-2
votes
0answers
62 views

how many different types of withholdings from employee pay check can an employer do [on hold]

How many kinds of withholdings can an employer take from pay check of the employee
17
votes
1answer
1k views

How do payroll-deducted taxes get sent to the IRS?

What do employers do with the money they've withheld from you before they get sent in? Where do they deposit it?
1
vote
2answers
22 views

can S-corp deduct my medical insurance premium

Can I deduct my health insurance premium, for myself and family, from my S-corp (IRS form 1120S) before transfer of shareholder distribution (K-1) to me personally? And, must I pay myself a payroll, ...
0
votes
0answers
11 views

Will I have to pay tax in India for the money I earned in the us?

What is the rate of income tax in the united states? For example- I am a resident alien. I earn around $50k(33 lakh)per annum. As I am a citizen of India. Which government should I pay my income tax ...
1
vote
1answer
53 views

Clarifying what a Roth IRA is and common questions

Background I have done my initial homework on Roth IRA's vs Traditional IRA's and have come up with the following understanding of Roth IRA's. I am currently a single college student. I pay tax on ...
3
votes
1answer
33 views

Does a U.S. citizen living in Mexico and getting paid from U.S. company, have to pay taxes in Mexico?

I'm a U.S. citizen living and working in Mexico to help expand operations for a U.S. corporation I work for. I currently file and qualify for the Foreign Earned Income Exclusion under IRS rules. My ...
1
vote
1answer
17 views

Can I specify lumpsum investment that I have decided to make in this year, but not yet done

I live in India. If I have decided to perform investment of 50000 INR in this year in say ELSS. But I want to perform it as a lumpsum investment, instead of SIP. I want to spread the investment in 4 ...
0
votes
2answers
23 views

Do I need to pay quarterly 1040 ES and 941 (payroll)?

I am self employed with an LLC that I elect to pay S-corp taxes on. I am the only employee. When you're self employed, if your taxes are greater than $1000, you have to pay quarterly taxes estimated ...
3
votes
0answers
33 views

Confirm delivery of tax payment

How can a taxpayer confirm that the IRS has received a payment, other than finding out that they owe penalties and interest somewhere down the line? Assume the payment instrument (money order) is ...
0
votes
1answer
60 views

Capital Gains tax when moving for school

My wife and I purchased our home in August of 2014, but now she has been accepted into a doctoral degree program 200 miles away, so we need to sell the house and move. Unfortunately, we might be ...
1
vote
1answer
45 views

Have a simple LLC but want to file taxes as s-corp, can I do taxes on my own?

I have a very simple small business that has very straight forward taxes. I am the only employee and I don't have a lot of complicated deductions / credits. Am not married and don't have kids. It is ...
1
vote
0answers
20 views

US Account Taxes

I'm an Australian resident with a US brokerage account. At what point would have to pay taxes in the US after realising gain through my brokerage account?
0
votes
0answers
36 views

Working remotely for a UK based company while living in Japan?

I am currently employed by a UK based company but am going to be working remotely in Japan, then eventually move there while still working for the same company. I have no idea what the tax situation ...
0
votes
1answer
41 views

Washington State tax filing extension?

I just filed a federal tax-filing-deadline extension for myself. Does Washington state require a separate one? Turbo Tax didn't mention anything about it (I used it to file my extension) and it ...
0
votes
0answers
17 views

I contributed to an HSA in 2014 that was supposed to be for the previous year, but wasn't

When I contributed to my HSA in 2014, it was supposed to be for the year 2013. This wasn't done. Can I correct this? Thanks,
1
vote
0answers
29 views

How to file income tax for administratively dissolved S-Corp still getting money from contracting work?

I have an S-Corp which I just realized was administratively dissolved in 2011. But I have been using a bank account linked with the S-Corp to get contracting income. I have filed 1040 schedule C for ...
5
votes
2answers
662 views

Does TurboTax mail my state forms for me?

I just filed with TurboTax, and it mentioned along the filing process that my state taxes (for Idaho) have to be filed by mail, though they didn't show the forms to actually mail in. Does that mean ...
7
votes
2answers
499 views

I live in Maryland and work in Virginia. Do I need to file multiple state tax returns?

I live in Maryland and commute everyday to Virginia for my job. I do not have any rental property in Virginia. Do I need to file multiple state taxes?
1
vote
0answers
26 views

Tax on income earned in the UK

This is the first time I have paid taxes in the US. I am doing my best not to make a mistake. Here's the situation: Worked for three weeks in the UK in January 2015. I have paid UK taxes on this ...
0
votes
1answer
13 views

Canadian in California - filing taxes as a non-resident

I moved to the US from Canada end of November 2015 for a new job (about 35 days in 2015 with new job). Haven't worked in the US before and have only visited maybe 40 days over the last 3 years purely ...
1
vote
1answer
20 views

How do I file 2015 taxes for F-1 OPT till Sept 30, 2015 to H-1B from Oct 1, 2015?

Last year, I've filed 1040NR-EZ myself by entering all the values in the form manually. Because of complications in my case this year, I'm seeking a software's help. I was on F1/OPT From Dec 2012 ...
1
vote
1answer
22 views

Tax Efficient Medium Term Investment Options (Flexible Timeline)

I have recently opened up a new taxable investment account with the intent of growing my money set aside for short to medium term financial goals (i.e., 2-5 years with no fixed deadline). Unlike my ...
3
votes
5answers
346 views

Under what circumstance will the IRS charge you a late-payment penalty for taxes?

IRS Topic 301 states You will owe interest on any past-due tax and you may be subject to a late-payment penalty if the payment of tax is not made by the original due date of your return. The ...
3
votes
1answer
99 views

In the USA, is the tax deadline for filing or paying your taxes?

If you do your taxes on paper and physically mail your forms, is April 18th: A. The day you must have sent your tax paperwork in the mail B. The day the IRS has to receive your tax paperwork by C. ...
1
vote
0answers
33 views

Money given by company for Living Expenses [closed]

How is money given to pay for living expenses taxed? I will be given a lump sum for annual living expenses and I'm not sure how this works as far as how it will be taxed.
3
votes
2answers
46 views

File Taxes: US Expat, now married to foreign national

I live in Sweden and I got married last year to my Swedish wife. We have no children or dependencies. Does she have to file any USA tax forms? Can I just file Married Filing Separately and she does ...
1
vote
0answers
124 views

Selling Virtual Currency (World of Warcraft) how would it work with tax?

I'm currently earning about 300 euro worth of virtual currency in a game. Selling the gold is against the rule of the game, but if I'd sell gold worth ~3000 euro for example. How do I prevent this ...
3
votes
0answers
21 views

Risks of initiating Voluntary Classification Settlement Program?

I just found that it is illegal for Employer to give form 1099 to workers who could potentially be classified as Employees. Also, Employer can end up being punished with imprisonment and/or heavy ...
1
vote
1answer
46 views

non-resident alien e-filed using turbotax!

I am a non-resident alien and efiled using turbotax. Turbotax is generated form 1040-NR and a day after it stated that "Your 2015 Personal return was accepted!" The thing is everywhere mentioned that ...
2
votes
1answer
46 views

Can I pay estimated taxes based on last year's taxes if I anticipate more income this year?

My question is related to this one (Do I have to pay estimated taxes if my income will be much lower this year?) but in the opposite direction. Last year my wife started a new business and with all ...
0
votes
0answers
38 views

How to report unexpected additional income from company sale

A company my wife and I worked for, and owned stock in, was sold. We received 1099Bs for 2014 tax year. We did not realize that they were holding back some funds, and received additional 1099Bs for ...
0
votes
1answer
56 views

IRS Free File Fillable forms — “Done with this form” button grayed out for 1040

I just used the Free File Fillable forms screen to do my 2015 taxes. All went well except for one thing. I could never successfully click on the "Done with this form" button for the 1040 as it is ...
1
vote
1answer
59 views

What are the costs to maintain an Inc? [closed]

I am wanting to form an Inc for an internet website like Facebook or Twitter and I am running it out of my home for now. I would want to register my startup in the state of Delaware and I am in ...
1
vote
1answer
26 views

Is Return of Excess from an IRA Subject to Penalty?

I made a deposit into a Traditional IRA a few days ago, intending to do a Back-Door Roth. As it turns out, it wasn't a good idea (see Any Downside to Backdoor Roth?). In filling out the forms to do ...
4
votes
0answers
43 views

Filing world-income for taxation in UK as a non-citizen

First a brief background: I’m a citizen of an EU country where up to recently I’ve resided and been employed as a PhD student at a state institute. After finishing the PhD, I’ve moved to UK to work at ...
0
votes
1answer
33 views

Lost form 8582 needed for this year tax. How can I recover it?

How could I recover a copy of my form 8582 from last year (needed for this year). State of Florida. My accountant that did my taxes are not being helpful and do not reply to my messages. He may have ...
1
vote
2answers
117 views

Why ADP does not accurately withhold state and federal income tax (even if W4 is correct)?

Back in 2014 and 2015 I had W-4 on file with my employer where I claimed only one exemption (myself). However, I always ended up owing federal tax and getting CA state refund. Last year I also ended ...