1
vote
1answer
17 views

US-NYC Tax question about self-employment work online for a Europe based company

I've been doing contract work online for a company based in Germany. So far I've made about 2,880 from Jan-June $500 a month then $480 after paypal. I don't get a 1099 from them. But I was wondering ...
3
votes
1answer
40 views

Self employment taxation as a non-resident citizen

If I don't live in the US long enough to be considered a resident (less than 150 days/year), do I still have to pay self employment tax on income that I generate while traveling (income generated ...
1
vote
1answer
46 views

So far, expect to only make (1099) income in Q1 of 2014… What's my estimated liability?

I've earned a significant amount of 1099 income (self-employed) in the first quarter of 2014 (through 3/31/2014), but as of now, I have no idea what (if anything) I will earn for the rest of the year. ...
0
votes
1answer
29 views

How do self employment equipment/software deductions work?

General tax-related question, here. Let's say I do freelance work and need to buy special software or equipment to do that work. When I claim that work as income and pay taxes on it, I know that I ...
3
votes
3answers
150 views

Getting financial advice: Accountant vs. Investment Adviser vs. Internet/self-taught?

Previously, I was a simple case: I earned a salary, and I paid taxes. Therefore, I've been filing my own tax returns using online software. Now: + wife, + kid, + mortgage, + want to contribute to ...
1
vote
1answer
204 views

UK self-employed freelancing in Japan. Who do I pay tax to on my earnings?

I am registered with HMRC in the UK as self-employed. In July I will be going to Japan on a working holiday visa. Whilst in Japan I intend to freelance remotely for companies in the UK and Japan. My ...
3
votes
1answer
72 views

How to pay N.I contributions when both employed and self-employed?

I make less than £6k a year from my self-employed work, and N.I is taken off my employment PAYE. Should I be paying N.I contributions for my self-employed work as well?
1
vote
2answers
169 views

How does LLC affects my taxes?

I read this article http://www.watsoncpagroup.com/kb/How-does-an-LLC-or-S-Corps-income-affect-my-taxes_73.html but still can get it. My scenario: I work for a company full time and earn (let's say) ...
3
votes
2answers
1k views

Why should I report extra income from a side-job to the IRS?

Say an individual earns extra money on the side by tutoring through craigslist. Moral obligations aside, why should that person report those earnings when doing taxes? What I'm asking is how the IRS ...
-1
votes
1answer
166 views

Can I connect a PayPal account to a business bank account instead of a personal bank account?

If I write online content and get paid through my PayPal account, and if the PayPal account is connected to my business bank account, does my income automatically become my corporation's income? ...
1
vote
1answer
130 views

Can I start a home based business with an online company, if I owe back taxes?

I am currently looking at an online company that was advertised as a way to make extra money from home on the internet. It has a decent start up and the information provided on the website about the ...
2
votes
2answers
74 views

How can contractors recoup taxation-related expenses?

I am doing consultant as my job side job. I am wondering if I should put tax in my invoice on top of my charges. This is the current state of the negotiation regarding taxes: You will not be ...
2
votes
1answer
67 views

Consult as an individual or as a company?

I work full time (so benefits, etc are covered), and recently have been offered a consulting position for a previous employer. I have read and fall within the acceptable guidelines of the Moonlighting ...
9
votes
1answer
192 views

How do taxes work with donations made to an individual, e.g. for free software I wrote?

If I offer a piece of software for free, but give users the option to make a donation on the webpage, what laws govern those donations? Do I report it as income? Is it subject to just the same amount ...
4
votes
1answer
753 views

What do I use for the article number and % rate on the W-8BEN form, for publishing & selling my ebooks?

I am an Indian citizen living in Singapore. I am publishing ebooks on Amazon, Apple, etc., and I have just gotten the EIN. I need help in Part II of the W-8BEN form, where it asks for the Article ...
3
votes
1answer
91 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 ...
3
votes
1answer
1k 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
146 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
281 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 ...
4
votes
1answer
123 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
2k 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
247 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
281 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
290 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
2k 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
2answers
2k 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
496 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
3k 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 ...
4
votes
2answers
310 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
736 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?