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My calculation is £13,475 for the dividend tax amount. I don't understand why your accountant has given you a figure quite as high as £16.5k. Here are my workings… First, income tax – as this affects how your dividends are taxed subsequently: Total salary Personal allowance Taxable salary Tax rate Amount of tax 26,500 12,500 ...


4

This is probably why: Self-Employment Tax Rate The self-employment tax rate is 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance). So you're probably not paying any Federal Tax, but you still have to contribute to other taxes. $462 is less than 13% of ...


4

If I use that cash to invest, would that 3% fee be deductible from my short-term or long-term capital gains at tax time? Not directly. According to IRS topic 505 (emphasis added), interest expense might be an itemized deduction : Types of interest deductible as itemized deductions on Schedule A (Form 1040 or 1040-SR, Itemized Deductions (PDF) include: ...


3

AGI actually stands for Adjusted (not Annual) Gross Income, so that may be part of your problem. The IRS recommends you use the 'Return Transcript' for AGI. Search for ADJUSTED GROSS INCOME or ADJUSTED GROSS INCOME PER COMPUTER (hopefully they match). For me it's about a third of the way down the second page. There is a return transcript for each year. The ...


3

Notes: (a) I am not an accountant nor a financial adviser; this is not financial advice. (b) I had all but written this answer when Mark edited his answer to include my correction regarding the Dividend Allowance. As I hope my "visual" representation may be useful addition, I decided to post (a slightly modified version) anyway. But the main credit should go ...


2

Generally the VAT you do pay to suppliers is deductable from the VAT you get. Problems are cross country because getting that back requires paperwork. And time. Which is why it is standard in B2B transactions to NOT pay the VAT on the country of origin - which is called "reverse charge". They get your VAT ID, they check it against the EU database and ...


2

It seems unlikely that you paid additional points when the mortgage was sold, I've never heard of someone doing that, and I think you would know if you had. So either this duplicate reporting of points is a mistake, or the second 1098 includes all the amounts you paid, and essentially supersedes the first 1098. It's been a while since I had a mortgage that ...


2

If you know it is incorrect, then just report one. It sounds like an obvious mix up on their part. If you report two, and you get audited, it will cause you more headaches than it is worth. Being honest goes a long way with the IRS.


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If you are the seller and there isn't a 1099-B, you report the details on Form 8949 and choose checkmark C (short term) or F (long term)


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