Questions tagged [income]

Questions related to the earning of money (or other capital) within a specified time frame. Topics such as methods to increase income, account for it, track it, analyze it, or disclose it are all appropriate, but discussions of *income tax* should use that tag instead.

24 questions with no upvoted or accepted answers
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32 views

Can personal income information be provably shared in Estonia?

Is it possible for an Estonian citizen to produce a government-signed document stating their income as it appears on their tax return? Maybe an electronically signed tax return transcript could be ...
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77 views

Client is offering to withhold tax from my payment

I recently started working in an arrangement neither me nor the person who hired me has done before. Someone who works as a contractor for a company got a budget to hire me as a (sub)contractor. He ...
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0answers
94 views

Income Tax Germany-UK - Different tax years

I've recently moved to Germany, how can I incorporate my earnings from the UK into German income tax system when the tax years are different? German tax year (Calender year) UK tax year (April-April) ...
3
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1answer
110 views

Tax implications in the US of home ownership in the UK

My family and I are residents in the USA. My British wife and her brother have received some inheritance from their father, which is to be shared with his ex-wife: £120,000 cash. A mortgage of £150,...
2
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0answers
73 views

Retiring to Europe from California-Implications for taxes, drivers license & voting

I retired & moved to Italy April 2018. I will be living in Europe for at least ten years. In filling out my California state tax form, there was a question regarding whether I moved out of the ...
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0answers
62 views

When I'm applying for a loan, how do I report my annual income if my income changes from year to year?

When I'm applying for a loan or a credit card, the application usually asks for my annual income—the amount of money I make each year. The problem is that I don't make the same amount of money each ...
2
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0answers
54 views

How can I see if/what income/current account payment data is gathered by credit referencing agencies?

According to two Telegraph articles: Almost all of Britain's banks now record most current account customers' monthly incoming payments. This is distributed monthly to credit reference agencies [..] ...
2
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0answers
82 views

Capital gains and income

When capital gains are not considered as an income (as per New Zealand Income Tax Law to be precise) then why capital gains/losses end up in an income statement to calculate net income? Does that look ...
2
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0answers
700 views

tax identification number in W8-BEN - Canada specific question

I live in Canada and have done a contract job with a U.S. company, and they ask me to fill a W8-BEN form to pay me. I'm asked to note that on the W8-BEN Form either section 5 or section 6 must be ...
1
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1answer
9 views

transferring amount between saving and NRO

I want to transfer some amount from my mom saving account to my NRO account to pay my utility bills. I am managing my mother's account as she lives with me overseas. Will this amount will be taxable?
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34 views

Unemployment claim

I worked in Virginia until 12/30/19 and was transferred by my company to Louisville, Ky. Now with the Coronavirus, I am being layed off or have my hours reduced to 15 hours. I want to file for ...
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0answers
91 views

Maximize negative tax rate

I've been reading articles about people getting negative taxes, and am curious about how much someone can actually earn and still pay 0 or negative taxes. Suppose I have an LLC, and my wife and I are ...
1
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1answer
552 views

Tax filing requirements for OPT period (F-1 VISA) in Pennsylvania

This past year I worked under the Optional Practical Training (OPT) program after I graduated. I started my employment period March 15th and worked until September 28th. During this time I got paid ...
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180 views

Is interest-free loan to a domestic partner taxable?

Let's say I want to transfer $20,000 as a gift to my fiancée. After a few months (within the same year) she returns the money back to me, with no interest, as we agreed beforehand. Does this imply ...
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92 views

Friend may owe outstanding taxes from previous year?

I was talking with a friend of mine when at some point we started talking about how she hadn't paid taxes for an internship she had done at a University overseas. Since she had been paid using a ...
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66 views

What taxes do I pay for working an event in Mexico?

I live in the U.S. but am holding an event in Mexico. People will pay to attend the event. How do I claim that income for taxes either in Mexico or the U.S. and what is the process for receiving ...
1
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1answer
15 views

Tax treatment in India on a Resident Indian on money he earned in UAE as NRI earlier

I worked in UAE from Sept'2006 to Mar'2014 and came back to India permanently on April'2014. Before returning to India, I invested some amount in USD dominated bonds through a local bank in UAE on Mar'...
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17 views

Recently I was studying financial statements of Refex industries 2011-2012

Recently I was studying financial statements of Refex industries 2011-2012, in cash flow statements in investing section purchase of fixed assets is written as postive cash flow how can this become ...
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43 views

Game Server Taxes and Requirements [Canada]

Currently I am in a scenario where I want to start selling in-game perks using a web store to earn some money. However, I don't want to do it improperly and get into trouble with taxes and other rules ...
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2answers
49 views

How to calculate Month-to-date unrealized and Realized P&L

how do you calculate Month-to-date unrealized and realized P&L/performance? What is the cost basis for both? Should the cost be reset based on the end-of-previous month mark to market or the ...
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0answers
46 views

IRS Income Tax not taking payment from my bank account

I filed my Income tax through TurboTax on or about March 28. My return was accepted on March 28 with a payment made through my bank on March 31. As of today, April 8, the money has not been taken from ...
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0answers
31 views

Are IRS § 1032 and 118 redundant to each other?

118: In the case of a corporation, gross income does not include any contribution to the capital of the taxpayer. This is a bit cryptic, but based on the definition of "capital contribution", I ...
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2answers
51 views

Is the Operating Income or Loss equivalent to Total Revenues for wealthier companies?

I have noticed on yahoo finance that some companies like this one don't have total revenues in their financial table but rather an Operating Income or Loss and a Net Income. Is it the same ? Can I use ...
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1answer
40 views

India Income Tax Deduction questions AY 2019-20

I am a Resident Indian Sr. Citizen, I paid Mediclaim Insurance Premium of Rs.53808/- last FY (March 2019), by cheque, for my wife and myself (both senior Citizens) I was hospitalised in December ...