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.

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Tax question about selling a car

Hi I am thinking of selling my car. It is a very nice car, and I would have paid quite a bit in sales taxes. I live in Colorado. I want to sell the car because of a few reasons. Biggest being that I ...
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0answers
26 views

Non-resident wanting to visit family and stay for more then 30 days? [on hold]

If I work in the Middle East and am considered a non-resident from the USA and have been for almost 19 months. Can I remain in the USA for more then 30 days per year after my first year of ...
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1answer
52 views

How to bring my assets to US

I am a naturalized US citizen. I want to bring my assets from India to US. My assets are sold and in a bank account. What are the steps to bring the money to the US? It is worth 1.25 Crore and I have ...
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1answer
23 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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22 views

What phased out tax benefits should I be aware of (aka how much stock should I sell)?

I am married filing jointly in CA. I own a chunk of stock (~300k on a basis of 7k) in a company I formerly worked for that has recently IPOd. I'd like to diversify my holdings in a tax-smart manner. ...
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0answers
20 views

What's the tl;dr investing rules for married Canadian citizens when one partner happens to have US citizenship?

Canadians with US citizenship have several things to consider regarding investments: Canada's Tax-Free Savings Account (TFSA) is not considered tax free by IRS, and filing taxes may significantly ...
3
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1answer
87 views

Accidentally withheld too much tax when cashing out 401(k)

My son recently cashed out his 401(k). (He really didn't want to but it was necessary). When completing the form, he accidentally checked to withhold an additional 25% tax instead of an additional 5% ...
2
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0answers
21 views

Are Kentucky vehicle property taxes paid in arrears or advance?

(Note: This question is not about sales tax.) We paid the Registration on our van last November, which includes property/usage tax. This month we turned over the vehicle to the dealer from whom we ...
3
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1answer
79 views

How do I get into contact with the IRS to ask some tax questions?

Way back in March I filed my taxes, and applied for a payment plan. My request actually never went through, and I ended up having to re-apply on April 20th. The representative I talked to said that my ...
3
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2answers
133 views

24% tax on first pay in the UK?

Quite a similar thread to others I've seen here - hope I'm not repeating the same questions again! I just got my first payslip after arriving in the UK and noticed that the tax is far higher than ...
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1answer
34 views

What's the penalty for filing taxes late in canada if you're owed a refund?

For a number of totally avoidable reasons, I just filed my taxes. I'm owed ~3500$ and I was wondering what I should expect to get from the CRA. I've heard there's no penalty for filing late unless you ...
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1answer
114 views

Stock goes bankrupt - what is CODI and should I worry about it?

I am a total newbie at investing and last year I purchased some stock of BBEP directly without any broker using the Robinhood app. Now BBEP has filed for bankruptcy and I see many people mentioning ...
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1answer
65 views

Do I need to do anything to avoid penalties or interest if the IRS expects quarterly payments but all my tax is already withheld?

In 2015, for the first time, most of my income was untaxed, so I paid all my taxes for the year when I filed. In 2016, I have been and will continue to be employed full-time with taxes already ...
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0answers
14 views

Provide service to US company from India? [closed]

I have a US prospect who is looking to outsource some business( software development) to my Indian company. This company has never done any business in united stated nor have any EIN/ITIN number. Off ...
0
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1answer
53 views

Tax benefit on Home Loan

I own one flat (Staying in same flat) for which i am claiming tax benefit on home loan. Recently i have purchased one more flat,Can you please tell me how can I claim the tax benefit for the home ...
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0answers
51 views

Car lease payment, after moving from WA to CA

I have a car leased from Infiniti financial services, and right now I am planning to move from WA to CA. Once I get my car registered at CA, will it stop my monthly tax payment on car that WA state ...
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0answers
23 views

How can I tell if my business tax payment was received?

Is there a way to tell if my business taxes were received? I had mailed them by 3/15 when due. I had a loan officer ask me if I had to file an extension. This made me wonder if maybe they were not ...
6
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1answer
47 views

What are the rules for a Roth IRA when you become a nonresident?

What are the rules for Roth IRAs when someone leaves the USA and becomes a resident of another country before the age of 59 1/2? Does the Roth IRA account need to be closed and the funds withdrawn ...
2
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1answer
22 views

Can I still charge and keep money from my small business, listed under HST?

This question relates to the province of Ontario in Canada. As a small business owner, there is an exemption where you are not required to charge HST on goods and services if you make under thirty ...
4
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1answer
68 views

How is Fiscal horsepower calculated in Spain?

The annual circulation tax (Impuesto sobre vehículos de tracción mecánica) is imposed in Spain on an annual basis based on a Fiscal horsepower. Does anybody know the formula for calculating fiscal ...
2
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3answers
182 views

Possible to avoid state taxes by not having a fixed residence?

If a person lives in any given state for less than 4 months each year, can they avoid paying state income taxes? Is there a federal law that requires a citizen to be a resident of a particular state? ...
3
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0answers
55 views

IRS sent incorrect tax refund. How to correct this?

I sold a house in the US last year and as a non-resident alien there was a federal tax withholding of $4200. I filed form NR1040 to get this tax withholding back. This should have been a simple ...
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1answer
54 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
280 views

Can I mitigate lottery withholding tax by making an epic Vegas trip?

Lottery withholding taxes are quite substantial, and from my understanding of the federal tax regulations, gambling winnings can be offset by gambling losses up to the amount won. So if someone won 5 ...
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2answers
133 views

Why UK bank charges are not taken account when looking on interest for taxation?

In UK when filling-in self-assessment, HMRC is asking for amount of interest received during the tax year. But bank charges are not taken into account. See example here: my bank charges me £5 ever ...
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1answer
25 views

Will the H-4 EAD applicable for the taxes

what are the taxes applicable for the H-4 EAD. Will s/he are exempt from the SSN/MEDICARE or s/he will applicable to pay the taxes?
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1answer
80 views

Any tax advantage for registering a residential house as a business? (I want to apply legal pressure to my landlord)

I am just wondering what the tax pros and cons are for listing what should be a residential house as a business in California. The place I was living at was officially registered as a business for my ...
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1answer
23 views

Correcting HSA contribution due to transfer of children's HDHP

I contributed the max ($6,750 for family in 2016). Now a court has ordered that my ex-wife take over health insurance for the kids, so my HDHP will cover only me, making my contribution max $3,350 for ...
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0answers
30 views

Under what conditions is the capital gains tax 0%? [duplicate]

In the US as I understand it there is no tax on long-term capital gains, so long as the filer is in the 15% tax bracket ($39,600 in income or less). Do the capital gains themselves count towards this ...
3
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1answer
33 views

Possibility to buy index funds and individual funds in a Canadian TFSA

Looking at the online info of my Bank I saw that the eligible investments that I can do in a TFSA is mutual funds, GICs and saving deposits. Is there a way to buy individual stocks like Apple, Google ...
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1answer
66 views

Question about married couple filing jointly

When filing taxes jointly as a married couple, which of the following is accurate (or are none accurate)? Husband's total salary will be added to wife's salary Wife's total salary will be added to ...
0
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2answers
74 views

can we claim the exemption on the joint filing

The exemption for the single filing is only $11250 ? The maximum exemption for joint filing tax is $22500 suppose the salary of the husband is $18000 and the wife is $4500 are they eligible to ...
3
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1answer
150 views

Still list parents' house as permanent residence while renting apartment

I just graduated from college and plan on renting an apartment in NYC to commute to work in NJ. However, I've been listing my parents' home in New Jersey as my permanent residence. Can I still show my ...
6
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3answers
233 views

Does an employee have the right to pay the federal and state taxes themselves instead of having employer doing it?

I was wondering if a W-2 employee has the option to tell their employer that they will pay their taxes instead of having the employer do it....
4
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2answers
89 views

Does a tax filer have to pay a “no health insurance” penalty for an adult sibling tax dependent?

My 28 year old sister lives with me. She doesn't work, and she goes to a local community college to study English for adults (the tuition completely FREE of charge). I fully provide for her. She has ...
3
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1answer
34 views

In a Canadian TFSA, does interest earned within the account count toward the contribution limit?

I know that there is a limit in the contribution per year in a TSFA. At the moment (2016), if you have never made a contribution then you can contribute around $ 46 500. BUT, even though all ...
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1answer
58 views

Taxation of foreign currency arbitrage

I live near the border with Mexico have found a way to make some money trading currencies when I go over for the afternoon. Basically, I can withdraw money in pesos at an atm machine from a checking ...
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2answers
29 views

Determining resident status for an H1B filling W-4 form

I arrived to US a month ago, on May 1st, because of a new work. I have been told by the company to fill W-4 form in. But, it seems that W-4 form must be filled in differently depending on my current ...
4
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2answers
102 views

Working two jobs (one remotely to NZ). What should I do about taxes?

I currently live in the UK. I work full time (37.5 hours a week) at an agency. I get paid a fixed salary for this. I've been approached by someone in New Zealand to hire me by working remotely, I ...
2
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1answer
81 views

How do I check if my income taxes were filed?

How can I find out if my estranged husband filed our taxes. He said he did, but I don't trust him.
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1answer
24 views

Will I have to pay taxes in India when I receive money (monthly salary) from UK as a permanent employee?

I am working as a permanent employee in a UK company but I stay in India and used to work at home. I receive money as INR into my savings bank account. Should I pay tax? If UK company sends money in ...
1
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1answer
69 views

Selling house at a profit to buy another house out of state

I am selling my primary at at approximately $170k profit after fees. I'm already under contract for a new primary in another state. However, the new house will close a month or more before my primary ...
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1answer
37 views

Tax implications on international wire transfer

I have a retired US citizen brother who decided to live overseas after his retirement. He and his wife's social security checks is automatically deposited in a US bank account. He has asked me to ...
0
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1answer
21 views

Changing the address of an LLC and tax requirements

I'm neither a US citizen nor do I reside there. I have a single-member LLC registered in the state of Wyoming, US with a Wyoming virtual office address and an EIN. I'm not satisfied with the services ...
4
votes
2answers
53 views

Can my spouse apply for an ITIN, even though he is a non-resident alien who does not pay US taxes?

My spouse does not live, work or earn money in the USA, so he doesn't pay US taxes. (I file as "married, filing separately.") But I want him to be able to apply for US credit cards. He can't get an ...
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0answers
15 views

Non-resident alien tax: on a trading stock options gain

I am a Non-resident Alien and I have an account with a US broker. I have always traded stocks there, without declaring the gain in the US ( paying the Capital Gain in my home country ). Now, in ...
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2answers
104 views

US citizen married to non-resident alien; how do I file taxes?

I'm a U.S. citizen, living in the USA, making US income. I'm about to marry my partner, who has NO ties to the USA: he does not live here, he does not work here, he is not paid by a US company, etc. ...
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0answers
63 views

How to buy out one person's share of a jointly owned vehicle with the lowest taxes and fees

I currently own a car jointly with another person. We are both on the title and both on the current loan. Now I have reason to buy the other person's share of the vehicle so that I am the sole ...
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0answers
14 views

EPF Taxable in United States

I have been working with my Employer (a MNC) in India for last 7 years. In June i will start working in their headquarters in USA. I wish to withdraw my Provident Fund (EPF) but not sure if that ...
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1answer
103 views

How should I ask for an Employer Loan as an Employee?

I would like to ask my employer for a loan. I know IRS guidelines expect it to run at the APR with regards to interest. However, before I ask I would like to be as educated as possible as to what ...