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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Can a tax be legitimately charged on an airline ticket refund?

I cancelled an airline ticket (non US) and the refund voucher shows and approx. 5% of refund value deducted under the heading of a "Tax". Can this make sense under any jurisdiction? I am curious. ...
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1answer
15 views

How to calculate after-tax return if investor can use capital loss, in Canada?

[Source:] As you can see in the table, the $105,000 government bond matures at $100,000, for a capital loss of $5,000. The investor would also collect interest totalling $9,660 over the three years ...
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1answer
29 views

Tax Exemptions: Live in One State, Work in Another

So I'm pretty young and don't completely understand how I should be handling my taxes. I've been burned year over year recently by being a contractor and have recently started to pay attention closely ...
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0answers
25 views

Registering as sole trader in UK although most of my work is conducted abroad/online

I would like some advice. I am a British national (not resident at present). I offer a range of language related services (translation, interpreting services, teaching, travel agent for language ...
2
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1answer
14 views

Income Tax rebate on Housing Loan on rental property and HRA rebate?

I had purchased an under construction Flat with loan of 30 lacs in Indirapuram, Ghaziabad in Year 2011 for which I got possession in June,2015. I am staying on rent in East Delhi and claiming HRA ...
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1answer
61 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
36 views

Pre- & post-tax calculations for comparing contribution amounts for traditional 401k vs. Roth IRA?

I currently have a rollover IRA which I no longer contribute to and a 401k which I currently contribute to. I would like a Roth account to be more diversified from a tax perspective. I currently put ...
2
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1answer
40 views

Are there any tax-beneficial accounts in the Netherlands, like the UK's ISA or US's Roth or 401K?

I am a 31-year-old non-Dutch British citizen, living and working permanently in the Netherlands, looking for a better way to save my money for the long term (primarily retirement). I am searching for ...
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0answers
16 views

Regarding Taxation of Indian Company in USA [on hold]

We are an Indian Origin company in IT sector, providing services to US clients. We are planning to set up a virtual office in USA but our entire work is done from India. Can you suggest me regarding ...
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1answer
49 views

taxes on home if quit claimed to son in entirety, but mom still lives there

Will my thirty-year-old son have to pay taxes on my home if I quitclaim him to the title? What if he just owns one-half of the home; how will that affect his taxes? We live in Boise, Idaho and he ...
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0answers
129 views

I got a raise from 50,000 to 65,000, and paycheck calculator says that I should take home $867

Hi I recently got a raise and wanted to calculate how much I would take home, and I get paid weekly. If my salary is 65000, I live in NYC, and my weekly paycheck is $867, that is more than 30% of my ...
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1answer
28 views

Foreign intern in USA - filling out W-8BEN form

I'm a Canadian student doing a paid internship in the United States for the summer on a J1 visa. I've set up a bank account here in the United States which has been used to successfully directly ...
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0answers
27 views

Indie Game Dev in Multiple Parts of the World, we want to know what to do about taxes

I am a part of a group of people making a indie game. We have been working on the game for a few months now. We live in different parts of the world. We have people in the US, UK, and I think ...
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1answer
60 views

Where should I start my LLC?

I want to release an iPhone app to the App Store and want to put my company name as the app's "seller" field. I was thinking of starting an LLC because I'm working alone and want to hire a developer. ...
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1answer
40 views

Will I pay US taxes on visiting family money that is deposited into my account

My family are coming to visit me in the US and spend their summer vacation here. They are planning to transfer the traveling and living expense to my US bank account. My question is: Am I going to ...
4
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1answer
113 views

What happens If I Overpay Social Security Taxes?

Resource: Maximum social security tax income level for 2015. I work four jobs and just noticed on the second one, they're deducting social security taxes. The first job I work pays 99% of the ...
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0answers
47 views

Family offices for the middle class [closed]

With the new technologies reducing costs of financial transactions, which web services offer things similar to what high-net-worth individuals get at family offices? What I mean: The ...
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1answer
16 views

Tax implication In India

My husband arrived in USA (California) in Oct 2014 for the first time . For Year 2014 we were considered as non resident alien (for tax purpose I guess). We have filed for the income tax in USA and ...
2
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1answer
38 views

Temporary relocation to Massachusetts

My company is looking to temporarily (6months) re-locate me to Boston from California. I think I will be keeping my permanent residence as my home address in CA. My question is, will I need to file ...
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1answer
64 views

Confused regarding allowances: No taxes being withheld at source

I claim Head of Household on my taxes. I have 4 children and my total allowances on my W4 add up to 14. I am confused because no taxes are being withheld from my pay. How will this affect me when I ...
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1answer
51 views

understand taxes when geting money from a project built long time ago plus my full time job

I have been employed full time in the UK for 1 year, I have no other side jobs and the company I am working for is paying taxes and national insurance for my salary, transferring the net salary to my ...
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1answer
15 views

H1B First Time filing W4

I have traveled on H1B in early june with family. I need to file W4 for withholding taxes. Please help me if i have to file W4 as Resident Alien or Non Resident Alien. I have never stayed in USA ...
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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 ...
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1answer
18 views

Receiving partial payment of overseas loan/company purchase?

We invested in buying a company in Africa and want to send money back to the U.S. as partial repayment on the money we invested. What do we have to file, and what are the tax implications on the ...
3
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1answer
65 views

Property taxes collected at closing weren't assessed correctly

We sold a home in March 2014. The lawyer who drew up the closing paperwork did it incorrectly and only charged us $900 for property taxes. The actual bill came out to $2400 for 2013. The current ...
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1answer
45 views

Should I refi a rental property to reduce income tax from positive cash flow and use the equity pulled out to fund an annuity?

Smart to refi rental property? Want to reduce my taxes and use $200k to to fund an annuity. Statistics: Married filing joint Current rental property appraised value: $400k Income: $190k of which $21k ...
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0answers
29 views

Advantages and disadvantages of 'total-return swap' in ETFs?

[Moneysense.ca:] For taxable accounts, the Horizons S&P/TSX 60 Index ETF (HXT) is back from last year and should appeal to investors who focus on large-cap stocks. But the main reason for ...
2
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1answer
46 views

What year will my Gift Aid donations count as?

I made several Gift-Aided donations to charity on April 4th and received automated email receipts for each. However, April 4th was a Saturday and as I made the payments online, by debit card, they ...
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1answer
34 views

Australian stocks - any dividend tax or capital gains tax?

Can someone please provide some information on this? I would like to invest in Australian companies and want to know about the tax rates. Am a foreigner who is non-resident.
0
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1answer
84 views

I received half of my ex-husband's 401k in 2014, paid penalty fee, no income in 2014, should i file federal income tax for 2014?

I got divorced in 2013,I got half of my ex_husband's 401k.The early withdrawal penalty was determined and prepaid by the settlement amount. no income for the year 2014, should i still file federal ...
7
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6answers
350 views

If I receive donations to keep a server running, do I need to pay any taxes?

Basically I am considering starting a game server that has optional donations for people to gain little perks. All the money donated will go towards the upkeep of the server, and any excess will go ...
2
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1answer
45 views

When filling out a new W4 changing exemptions, if I do not want an additional amount withheld and I did before, can I just leave that line blank?

I'm sure my question in the title was not clear. I was working 40+ hours a week or close to that and then my hours were cut to almost none - some pay periods I only work 4-8 hours now. I need as much ...
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1answer
340 views

Can pretax lottery winnings be donated to charity?

Can pretax lottery winnings be donated to charity in the US simultaneously creating a deduction of the taxable lottery winnings and putting pretax proceeds to a productive cause?
4
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1answer
39 views

WHEN should I realize capital gains before going from non-resident alien to resident alien in USA?

I have read this post (How to realize capital gains before going from non-resident alien to resident alien in USA) and would like to ask a follow-up question. It's understood that capital gains ...
2
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1answer
51 views

How can I find if my accountant filled my tax report or not?

It was second year I filled my tax, for the first year I did that online by myself and It was perfect and I got my refund without any problem. One month later I tried to fill my FAFSA (Free ...
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2answers
39 views

Confused by IRS policy on whether DirectPay payment is on-time or late

IRS Direct Pay service states... "The payment date below is the date you will get credit for the payment. As long as you have submitted your payment on or before the due date and receive a ...
2
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1answer
46 views

Investing in mutual fund and donating mutual fund assets to charity

I will be making an investment in a mutual fund. I would also like to donate some mutual fund holdings to charity. Since the fund holdings have appreciated in value, I need to make sure that I don't ...
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1answer
126 views

If I were receive an $80,000 inheritance & want to open a business, what taxes would I owe?

I am receiving about $80,000 inheritance, and I want to start a business. How much would I be taxed or be deducted if I were to put it into a savings account. Lets say the bank is some well-known bank ...
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1answer
43 views

What US taxes are due for US stock bought via ESPP when I was in USA and sold after I returned to India?

I was in USA and purchased few US stocks in 2007 through US broker and ESPP stocks through my employer. I moved back to India in 2012. I sold those US stocks in 2014. I have submitted W8-BEN forms to ...
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1answer
44 views

Taxes on transfering money from India to the USA

I have an house in India and will be selling it soon. I need to transfer the money to the USA. I am in the USA and still have Indian citizenship. How much tax will be involved?
2
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1answer
53 views

Do I need to pay US tax if my father puts half of his company (in the Dominican Republic) in my name?

I am a permanent resident of the USA (a green card holder) eligible to apply for citizenship, but I do not know how convenient this might be in my situation. My father has a company in the Dominican ...
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1answer
28 views

Company registration for Small business

I am doing trading of goods and also provide services to various organisation. The companies would like to have all future payments made to an organization to which I am proprietor and not directly to ...
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2answers
89 views

Is this 'Tax evasion'?

I really am not sure if this is the right place to post, so I will gladly delete my question if it is the wrong place. I have a friend over in Brazil that wants to buy a few things online on Amazon, ...
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1answer
76 views

Tax on foreign currency brought into India?

My brother is considering to bring USDs from Saudi and get them converted here. He's had trouble remitting through banks since he doesn't have iqama at the moment. So, if we get $s converted in India, ...
3
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3answers
336 views

Tax deductions on empty property

Some one that works with me told me about a wealthy person that owns a lot of large buildings in our city. He said the guy would rather keep the buildings empty and is using the empty buildings as ...
2
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1answer
41 views

How to move (or not move) an LLC from Illinois to New Mexico?

I'll be moving from Illinois to New Mexico soon and am wondering the best way to deal with my LLC. It is a design services LLC, electing S-Corp taxation. Currently revenues are all over the place - ...
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0answers
16 views

Are gross receipts tax (New Mexico) charged on services performed out of state / for out of state projects?

I'll be moving soon to New Mexico, but keeping architectural/design projects in Illinois and possibly elsewhere. Would I need to pay the gross receipt tax on those project which are out of the state? ...
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1answer
23 views

Do I owe NRI tax on excess per day allowance that I have saved?

I work for a multinational IT company, based out in India. At the beginning of 2014 I came to Europe for office work for a short term duration. But then the stay got extended and I happened to stay ...
14
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2answers
1k views

Estimated Taxes after surge in income

Last year my self-employment income was $300k and I paid about $80k in federal taxes. This year, in the first quarter, all of my business dried up and I had $0 in income. Turbo tax was advising me ...
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0answers
39 views

Do I have to pay UK tax on earnings from Saudi Arabia

I started working in Saudi Arabia on the 31st August 2015, I plan to resign from my job and return to the UK mid July 2015. Will I have to pay UK tax on my earnings from Saudi Arabia? I don't own ...