New answers tagged

0

In Germany you can register a Einzelunternehmen and receive payments into your personal bank account with a German bank. Apple will certainly be able to transfer to accounts in Germany as payments go via the European SEPA standard. Tax wise if you are living in Germany you will need to pay tax in Germany, so this is really the easiest way of doing it.


2

Yes, your business needs to be in the business of making money in order for you to deduct the expenses associated with it. I suppose in theory this could mean that if you take in $10,000 and spend $30,000 every year, you not only don't get a net deduction of $20,000 (your loss) but you have to pay tax on $10,000 (your revenue). However this is super ...


1

Since you're a US tax resident, you'll include your worldwide income on your US tax return. That includes any income in India during that tax year, regardless of whether you actually were in the US or not. That is because you're a US tax resident for the whole year (due to the 4-months presence in the prior year). You can use the form 1116 to calculate ...


4

So my question is, which government am I required to pay taxes to Both. The United States taxes it's citizens on their worldwide income. You are still required to file tax return and pay taxes. However, if you qualify, you may claim "Foreign Earned Income Exemption" on your earned income, which allows lowering significantly your US tax liability. If it ...


0

Assuming that for the given financial year, 1 April to 31 March you have stayed more than 182 days out of India, you will be classified as non-resident Indian, NRI for tax purposes. If you are NRI, you don't have to pay any tax in India. If you are not NRI you have to pay taxes on the full salary 36,000 GBP in India as per tax rates.


0

You probably should declare but in reality you won't be taxed as it mostly will be nowhere near the personal tax allowance. On a self employment view, the definition seems to include trading and businesses (e.g. trades person, flower selling business etc where you are a sole trader). Infact many self employed don't reach the tax allowance anyway depending on ...


0

is it worth it? You state the average yield on a stock as 2-3%, but seem to have come up with this by looking at the yield of an S&P500 index. Not every stock in that index is paying a dividend and many of them that are paying have such a low yield that a dividend investor would not even consider them. Unless you plan to buy the index itself, you ...


0

As a general rule of thumb, age and resiliency of your profession (in terms of high and stable wages) in most cases imply that you have the ABILITY to accept higher than average level of risk by investing in stocks (rather than bonds) in search for capital appreciation (rather than income), simply because you have more time to offset any losses, should you ...


1

That may become complicated depending on the State laws. In some States (California for example), LLCs are taxed on gross receipts, so you'll be paying taxes on paying money to yourself. In other States this would be a no-op since the LLC is disregarded. So you need to check your State law. I assume the LLC is not taxed as a corporation since that would be ...


9

Correction after understanding what they were replying to: I think I now agree that the message is more precisely: "We checked, and we see nothing unusual enough about your situation that it requires special treatment. The normal rules apply." Since you were asking for special treatment, this would seem to be bad news. To be certain, I think you'll need ...


3

When I graduated, I had around $40,000 in student loans and got a job that paid a little less than what you make. The way to get the loans paid off the fastest with the least amount of interest paid is with something called the "snowball effect" where you pay off the loan with the highest rate first. Once that is paid off, start trying to pay off the loan ...


8

If you are making $70,000 a year and living with your parents, I see no reason why you can't do multiple things at once. Max out your 401(k) and IRA contributions. That's $20,000 before taxes. I'm guessing about $10,000 in taxes on the remaining $50,000, leaving $40,000. Pay $20,000 a year on your student loans and you still have $20,000 left for actual ...


14

The ratio is meaningless. What's important is what the rates are, and where they fall compared to other rates, both debt you owe, and return you can get. Does your company offer a matched 401(k) deposit? If so, are you depositing to get the match? If not, that's the priority. Do you owe any credit card debt? 18% (or similar) debt is next. Next, is the ...


26

As you noticed, there are diminishing returns on the interest savings as you get closer to paying off the loan. Certainly, the quicker you pay off the loan, the more interest you save. However, the total interest under the normal 10 year terms is fixed at $9178, and you can't save more interest than that. Therefore, the rate of increase of the interest ...


1

This is something you are going to have to work out with the leasing company because your goal is to get them to make an exception to their normal rules. I'm a little surprised they wouldn't take 6 months pre-payment, plus documentation of your savings. One option might be to cash in the bonds (since you said they are mature), deposit them in a savings ...



Top 50 recent answers are included