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Questions tagged [massachusetts]

Use this tag for questions related to rules and experiences specific to the State of Massachusetts in the United States.

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Can a brokered CD still count as “Massachusetts Bank Interest” for income tax purposes?

On the Massachusetts income tax Form 1, line 5 is for "Interest from Massachusetts Banks". This interest income gets an amount deducted from it ($200 for married filing jointly), and is reported there ...
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1answer
128 views
+50

How does Massachusetts tax selling US Treasury Bills before maturity?

If I buy a 4-week US Treasury Bill at auction and hold it to maturity, the interest I earn is state-tax-free. Just to put a number on it (even though I know rates aren't actually that high right now), ...
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1answer
264 views

Is supporting a charity through specialty license plates tax-deductible?

In Massachusetts, one can get a license plate which supports particular charitable organizations. At renewal (every two years), these cost an additional $40 in registration fees, all of which gets ...
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3answers
3k views

If your medical expenses exceed your income does the IRS pay you?

My daughter is disabled and unable to work, so her income is zero. (She isn't officially declared disabled, which we're trying to fix, but I don't want to talk about that piece here.) I've paid ...
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0answers
53 views

Is a student attending an university in Massachusetts and interning for over 183 days in California count as a “Resident” for MA income tax purposes?

Does a student attending a university in Massachusetts and interning for over 183 days (in the same fiscal year) in California count as a "Resident" for Massachusetts income tax purposes? I'm reading ...
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0answers
27 views

How to compute the “Total Adjustment Requested” when filing a dispute following a tax audit from Massachusetts?

I got audited by the state of Massachusetts, USA, due to a mistake I did when filing my 2015 Form 1 (mirror). The audit's conclusion was that I have to pay 1000 USD to Massachusetts, and in addition ...
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0answers
88 views

After checking a tax audit, Massachusetts is owing me some money: what interest should I claim?

I got audited by the state of Massachusetts, USA, due to a mistake I did when filing my 2015 Form 1 (mirror). The audit's conclusion was that I have to pay some amount to Massachusetts, which includes ...
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1answer
102 views

Can you file only a federal tax return (and not state) if you're not required to in the first place?

This is connected to my last question which you can find here. To restate, I made $5,040 in "Wages, tips, and other compensation". Normally, I'm not required to file taxes, but I have decided to in ...
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0answers
31 views

Should I indicate on Form 1 for 2015 for Massachusetts my current address or my address in 2015?

I am filling out a 2015 Form 1 (mirror) for the state of Massachusetts in the United States. My address has changed since 2015: I now live in a different state in the United States. Am I supposed to ...
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0answers
39 views

Is it possible to appeal a notice of intent to assess after the appeal deadline stated on the notice has passed?

Is it possible to appeal a notice of intent to assess from Massachusetts (mirror) after the appeal deadline stated on the notice has passed? I saw the notice of intent to assess too late as I was ...
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1answer
73 views

MA 2015 Schedule Z line 12: “Income tax paid to another state or jurisdiction (from worksheet)” -> what worksheet are they talking about?

I am filling out a 2015 Schedule Z (mirror) in Massachusetts, USA, which I plan to attach to a 2015 Form 1 (mirror). Line 12 says: "Income tax paid to another state or jurisdiction (from worksheet)". ...
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2answers
105 views

Can a state assess a capital gains tax on a sale of property owned by a non-resident?

If I own property in Massachusetts, but am not a resident of Massachusetts, and I sell that property at a profit, does the Massachusetts capital gains tax apply to my sale?
2
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1answer
58 views

Will I have to file Massachusetts tax forms if I have almost no income?

I am moving out of Massachusetts in October, but it unclear to me whether I will need to fill out a Massachusetts tax form. I expect to have less than $10 in income in 2018, which is interest on a ...
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1answer
413 views

Social Security/Medicare tax withheld on TN visa

For reference, I worked for 4 months at an internship in Massachusetts in the summer of 2016. I'm a Canadian citizen/resident, and don't pass the substantial presence test for 2016. Is there anywhere ...
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1answer
92 views

Tax Questions for Internship on TN Visa. Should I fill out Form 8843?

I worked for 4 months at an internship in Massachusetts in the summer of 2016. I'm a Canadian citizen and resident and have a few questions below. For background, I don't pass the substantial ...
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1answer
53 views

Massachusetts company, working out of state

If I live in a state with no state income tax and work remotely (from home) for a company that is based in Massachusetts, do I owe any state income tax to Massachusetts? This is confusing me https://...
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2answers
74 views

Filing a 1040 after filing 1040 ES

I'm trying to plan my taxes for 2018 (note, I have already filed taxes for 2017). I have about $5K of short term capital gains that have not had any tax withholding during the time Jan 1, 2018 - Mar ...
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1answer
92 views

How to minimize taxes for a university lecturer?

I am a Green Card holder and work as a lecturer in a university at Massachusetts with income of about 15K. How can I prepare tax filings to minimize tax payments?
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1answer
100 views

How to convert land zoned as Agricultural to Residential in Massachusetts [closed]

How can I convert a multi acre land, termed currently as "Zone Usage: Single Family/Agriculture" in central Massachusetts, into smaller residential pieces. What all are the procedures, dues, fees, ...
0
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1answer
97 views

US Tax - Can I claim head of household if I have no dependents?

I am a Non-resident Alien paying all the expenses of my apartment. I am single and live alone. Can I claim Head of Household even if I have no dependents in USA? Is the definition stated for Head of ...
2
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1answer
105 views

How does sales tax on a cross-state vehicle sale work?

I am thinking of buying a boat in Connecticut and moving it to Massachusetts. The dealer says I pay no sales tax in Connecticut, only when I register it in Massachusetts do I pay. Is this true? I ...
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1answer
1k views

How to write an earnest money check for a written real estate offer?

If I make a written offer complete with terms to buy a piece of real estate, there is the problem of how to draft the earnest money deposit. In previous purchases of real estate I have made, what ...
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1answer
116 views

Is a credit card deposit a normal part of the vehicle purchase process

I'm looking to buy a new car. I made an offer over email to several dealerships, and an agent from one of them told me that he can make it an official offer and present it to his boss if I give him my ...
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1answer
135 views

How are taxes assessed on kit cars?

My current car is a production car so it has a standard blue book value that I assume my town is using to determine the personal property tax on it. How is a car valued if it is a kit car or custom ...
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1answer
176 views

What is the tax rate for selling stocks?

I worked at a company that offered stock options as part of their compensations. I left the company in 2015, and exercised my options in December of that year. Now the company is being acquired and ...
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1answer
423 views

Several cents difference in the actual and calculated “Withholding Tax” values

I have decided to check/calculate my salary in a spreadsheet. All the numbers align correctly, except the federal Withholding Tax. I have tried to use the Schedule 15, and Schedule 15A (Tax year ...
2
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1answer
53 views

How to file federal and state (MA) taxes following legal name change?

I legally changed my name by becoming a U.S. citizen, but because all this happened recently (4/13), I am not sure how to file taxes by the 18th. I know I have to alert the SSA of the name change (I'...
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0answers
617 views

What do “resident” and “part-year resident” mean exactly in the context of the Massachusetts tax return?

I'm currently filling out my Massachusetts tax return for 2016. Background: When it comes to US federal income tax I'm a non-resident alien and I was at a university in Massachusetts on a J-1 visa ...
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1answer
504 views

In what cases can states tax non-residents?

If a person is a 100% resident of Oregon, and happens to work for a company located in Massachusetts, where does that person pay state income tax? It can't be that they have to pay taxes to both ...
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3answers
4k views

Bequeathed condo left to three children. How to sell if one party disagrees?

As the title states, a condo was bequeathed to each of an old man's three children. None of the children originally lived in the condo, nor do they currently live there. Two of the children want to ...
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2answers
2k views

What is the federal and state taxability of Massachusetts Solar Renewable Energy Credits (SREC)?

I installed a photovoltaic solar panel system on my house in the summer of 2015. (It's not a lease arrangement or the like; I own the solar panels outright.) As part of the government incentives for ...
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1answer
92 views

State tax deduction of 529 account deposits?

My state (Massachusetts) will offer a tax deduction next year for up to $2000 in deposits to a 529 college savings account. I have a credit card which offers 2% cash back. The choices were to have ...
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0answers
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Non-resident alien with partnership income

I am a non-resident alien with partnership income, and MA state tax has been withheld. I have never been in MA ever. Looking at the MA state non-resident income tax form, it asks to report income "as ...
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1answer
95 views

How can I find real estate auctions?

How can I find real estate auctions in my state (Massachusetts)? I am mostly interested in land, vacant lots or commercial property, not residential properties with houses. In the old days it was ...
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1answer
114 views

Nonresident for federal taxes / Resident for MA taxes: Do I get taxed on worldwide income?

I am a nonresident alien for federal tax purposes in 2015 (due to the visa I'm on and the time I've spent in the US). But I am a resident of Massachusetts for tax purposes, since I've lived in MA for ...
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1answer
454 views

Bankruptcy: how are cars with car loans (and negative equity) and lease cars handled?

This question is about how automobiles are treated in bankruptcy proceedings when the car is either: Not fully paid yet A lease car For the sake of the question, here's some scenario: Mr. John Doe ...
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3answers
595 views

How do I pay taxes on daily fantasy winnings?

Like many others, I've been playing daily fantasy football. I've had a good bit of luck and have made a substantial portion of my income this year from these sites. Now, I live in Massachusetts, ...
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1answer
129 views

Are car insurances in some states (in USA) typically sold for 6 months at a time?

I recently moved from MA to FL and because my car insurance was about to expire, and I in any case need to get a Florida insurance, I have been shopping for a new car insurance online. The car ...
2
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1answer
640 views

Do Massachusetts residents pay tax on capital gains due to sale of foreign property?

I'm currently living in the US on a visa that allows me to file (federally) as a non-resident. However, since I have lived in Massachusetts all year, I am a resident of Massachusetts and must file as ...
5
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1answer
619 views

Taxes on AirBNB income for renter

I have been living by myself in a large multi-bedroom apartment in a 3-apartment house owned by my landlord, who lives downstairs. We have been renting out the apartment I live in from time to time on ...
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2answers
356 views

What are ways to increase my income after taxes?

I live in MA, USA. I recently got a job and feel like almost half of what I earn is going to taxes, and putting money in bank doesn't give enough interest. So what options do I have (like invest in ...
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1answer
126 views

How is Massachusetts state tax on unrealized capital gains calculated?

My state (Massachusetts) imposes a 5.2% tax on unrealized capital gains. [1] I'm trying to understand how this tax is calculated. Here's an example: John Doe makes $50,000 in a given year. Meanwhile, ...
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2answers
581 views

Tax on insurance payment due to car deemed as total loss?

What is the the IRS's view on insurance payment for a car that was deemed a total loss? Is the state tax for each state in this scenario the same? Or, do different states have different approaches? ...
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0answers
936 views

File as resident or non resident for Massachusetts when one spouse is resident and other is non resident

I have been a non-resident of Massachusetts for the entire of 2013 while my spouse has been a resident. Also we jointly own a real estate property in the state. In that case, while filing taxes ...
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4answers
225 views

How much will I pay in agent's fees or commissions to rent a house in Boston metro suburbs?

I am being relocated for work to the Boston metro area. As I'm starting the search for a home to rent, I have noticed that many properties are listed through brokers and/or agents. What is the ...
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5answers
49k views

Is it normal to have 28.5% of various income taxes deducted from my paycheck?

I just got out of college, still live with the parents (saving up money) been employed for a year in the industry, and got a not bad starting salary. First check I received was shocking, to see 28.5% ...
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1answer
762 views

OBRA, Social Security, and year end taxes

OK, So I am having a bit of an issue getting a response from our payroll department at work and Google is useless in regards to this question. I work for the local county and we do not have Social ...
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1answer
131 views

State taxes for nonresident international PhD students in Massachusetts?

Do I have to file state taxes (in addition to federal taxes) as a nonresident international PhD student in Massachusetts?
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3answers
1k views

Is there a dollar amount that, when adding Massachusetts Sales Tax, precisely equals $200?

I am confused about calculating Massachusetts Sales Tax (6.25%). Is there such an amount, that when added to its sales tax, equals $200? The reason I ask is because my business has been charging $...
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1answer
180 views

Costs associated with starting an LLC in Massachusetts?

I am going to be starting a LLC business (wedding photography) and I was curious about the associated costs. The business will be registered in Massachusetts. I understand that an exact number may not ...