Tagged Questions
3
votes
1answer
55 views
Full Time Job and Self Employment and a 1040ES
Currently I am full time employed with a company, and am in the 25% tax bracket and claim no exemptions. I also have a website that I get ad revenue from.
Last year I had a few hundred dollars I owed ...
1
vote
1answer
65 views
W2 and 1099 (self employed) income in same year: social security taxable income limit?
For 2013, the maximum taxable social security income for employees on wages is $113,700, and for self employed individuals it is also $113,700 (though obviously at a higher rate).
Suppose a person is ...
1
vote
1answer
111 views
offshoring work and tax dilemma
My friend in USA who is a US citizen wants to hire her cousin from her native country and will be paying the relative as independent contractor.
Dilemma:
She does not have a registered business ...
3
votes
1answer
126 views
Switching From Employee to Independent Contractor
I've read a few different questions on here regarding the breakdown of employee vs independent contractor, but my situation has details that are quite different, hence, the question.
When I was ...
3
votes
1answer
108 views
Working out if I should be registered as self-employed in the UK
I have spent the past few evenings trying to work out what is the correct thing to do with regards to taxation in the UK for my set of circumstances.
9-5 I work for a company and am on PAYE.
5-9 I ...
3
votes
1answer
927 views
Reporting income - independent contractor, received no 1099
I have some stuff from last year that I want to report, I just don't have the information the IRS forms ask for.
I know how much I made and I know what percentage to pay taxes on, but for voluntary ...
3
votes
1answer
219 views
If I pay taxes on my earnings, would someone also pay taxes on the same earnings if I subcontract them and pay a share?
Forgive the confusing title, but it was the best way that I could explain the following situation briefly.
I currently have some contracts for doing IT works with various companies. They pay me as ...
2
votes
3answers
142 views
I am a contractor with revenue below UK's VAT threshold. Should I register for VAT?
I am an IT contractor based in London. I understand that there is a threshold for VAT of £73,000. In my current business, I have not exceeded that threshold as of yet but expect to within the ...
3
votes
3answers
149 views
Tax on £1,000,000 before or after expenses
If you start a business and end up making £1,000,000 in 1 tax year, are you supposed to pay tax on the whole £1,000,000, or do you pay tax on the money you have left over after spending on your living ...
1
vote
3answers
814 views
If I am Indian citizen residing in India but earning through online freelancing in US dollars, to whom do I pay taxes?
Say I am an Indian citizen and residing in India and earning through online freelancing software programming in US dollars. Which government do I pay taxes to?
Do I pay some taxes to Indian ...
3
votes
1answer
1k 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 ...
4
votes
2answers
389 views
Side work taxes higher if regular job salary higher?
Simple question. If Person A makes $150,000 at their regular job (W2) and brings in $5,000 on a side job (1099-MISC), do they owe more in taxes on the $5,000 versus Person B, who earns $50,000 (W2) at ...
4
votes
1answer
2k views
I'm self-employed with my own LLC. How should I pay myself, given my situation?
I do a ton of freelance web design and decided to setup a simple LLC so I could have a credit card to make business purchases with. From my limited understanding, I can choose to be taxed as an S-corp ...
3
votes
2answers
248 views
Can you write off time like you can money?
I've spent considerable time in the last year building a portfolio for my business. This time was donated to clients, for my benefit, and theirs.
There is a large opportunity cost lost. I could ...
3
votes
1answer
516 views
When is it necessary to apply taxes for web freelancing services in Quebec, Canada?
When is it necessary to apply taxes for web freelancing services in Quebec, Canada?
