New answers tagged taxes
1
There are multiple elemtns ain play here, but at the end you pay taxes in germany or are at fault of tax evasion.
Taxes have to be paid at place of residence but INCOME earned in one country MUST be taxes in that country. As you stay in germany mon-fri and work there your income from that freelancer job is due to german taxes. It would be different for ...
1
From Tax Topic 409: (emphasis added)
The tax rate on most net capital gain is no higher than 15% for most taxpayers. Some or all net capital gain may be taxed at 0% if you're in the 10% or 12% ordinary income tax brackets. However, a 20% tax rate on net capital gain applies to the extent that a taxpayer's taxable income exceeds the thresholds set for the ...
-2
I don’t know anything about tax law in Croatia, Spain, or Germany.
Having said that, in general, you pay taxes in the country you live in and/or work in.
It sounds like you will be splitting your residence between Spain and Germany, so I don’t think you can arbitrarily choose to only pay tax to Croatia just because the taxes would be lower, even if you ...
0
There are no tax implications in India or US. As the amount is significant have a gift deed created for records.
1
Income tax withholdings are only "optional" if you expect to pay no income tax for the entire year (and the previous year). Other than that, the W-4 you fill out gives you a reasonable number of allowances to declare to determine how much tax (if any) should be withheld. They are fairly accurate unless you have unusual circumstances like uneven income, ...
0
Perhaps we should start back at the point you took employment. It seems to me as though you may have owned what the HMRC terms a personal service company. https://www.gov.uk/guidance/ir35-find-out-if-it-applies
These are typified by having one customer, and which is controlled by you or your associates, and where your work was controlled and overseen by your ...
2
The settling of a trust is done by an executor (called a personal representative in some states) or as trustee, depending upon how the decedent held the property. If you have been granted the power by the trust to do so and all of the numerous legal requirements for settling the trust have been met then you can distribute the assets (I have done it).
0
Don't do it. Maybe help her do her own fundraising but don't get involved, financially.
2
There is specific wording that applies to you in Publication 925
Limited partners.
If you owned an activity as a limited partner, you generally aren’t treated as materially participating in the activity. However, you’re treated as materially participating in the activity if you met test (1), (5), or (6) under Material participation tests , discussed ...
1
You are on the right track: since you didn't file a Section 83(b) election, no taxable event has occured until the SAR vested. So let's assume that at the time of vesting, each share had a fair market value of $10. At that point you had ordinary compensation income of $10, reportable on your W-2. Also at the point, you had acquired a cost basis of $10 per ...
2
For most common B2B cases you (supplier from non-EU-country / Drittland) should not need to register for German VAT.
physical goods and services you "produce" while being outside EU (coming to the EU as a normal business trip doen't hurt here, unless it's one of the particularly listed services, see below).
You send an invoice that is done the way you do it ...
2
Note: France is taxed at 12.8% instead of 30%, as Belgium also has a double taxation agreement with France.
Taxes are based on where the company is located, not on which exchange it is traded. French company means French taxes. However, stock exchange tax (transaction fees) are different between stock exchanges, or the broker you use might have different ...
0
You can only claim one. If you are I, up to 50,000 on premium. If you are not insured, expenses up to 50,000
See the calculator at income tax website. https://www.incometaxindia.gov.in/Pages/tools/deduction-under-section-80d.aspx
1
Check out the vademecum on VAT obligations in Germany:
EU country specific information on VAT
Some relevant excerpts:
WHAT ARE THE CIRCUMSTANCES GOVERNING THE NEED TO BE REGISTERED FOR VAT? Anyone supplying goods or services or making intra-Community
acquisitions in the Federal Republic of Germany must be registered for
VAT purposes and must ...
2
That would depend on if you are contracting the person providing the service, or merely acting as a safe method of ensuring quality and payment.
If it's a service contract between customer and service provider then you have no hand in it other than what you owe in taxes off of your cut.
If it's either an independent contractor working for you, or an ...
4
Depending on whether the SECURE Act becomes law1, your children may be forced to withdraw from the Roth account faster than you might like. It changes the Required Minimum Distribution (RMD) rules.
As I understand it, the bill says a non-spousal inheritor must empty the account within 10 years of your death.
While not a tax per se, it makes your scheme ...
2
Dutch Income tax has different brackets and also has deductions.
We have in Box 1 the employment income, pension income, profit income,
any and all income generated by work, former work, company or
activities that have exceeded the hobby status. Also in Box 1 you have
the deductions. Deductions such as the mortgage deduction, study
costs, illness, ...
19
Well, no.
True, a Roth has no income tax. The tax was already paid on deposit and no more tax due.
But, the Roth, IRA or 401, still might be subject to estate tax, as it is still part of the estate for state and federal estate tax purposes. Keep in mind, the federal estate exemption is high, over $11M per decedent. State varies, by, well, state.
0
If i availed the new home loan on ready possession flat and the interest paid upto 1.50 lacs, can i get the tax benefit ?
Yes you can designate this as first house and get interest benefits of Rs 1.5 lacs
5
Is 20% enough?
As a self-employed 1099 contractor, you are required to pay your federal income and FICA taxes quarterly. In order to calculate what you owe for your first quarterly payment, you will need to fill out form 1040-ES. This will give you a good estimate of what your full year taxes will be, and how much you will need at each installment--better ...
3
US Federal Income Tax is not imposed on inheritances, and I suspect (though am not fully sure) that most States don't impose State Income Tax on inheritances (California and Taxachussetts might be notable exceptions). Estate taxes (if any) are paid by the estate before the inheritances are doled out, and so that is not an issue either. Just be sure to have ...
2
There's really no such thing as a wash sale "violation". If a sale counts as a wash sale, under some circumstances some or all of the loss cannot be claimed with the sale and instead adds to the basis of the stock.
It's important to keep in mind that the wash sale rule does not care what account you trade in or what lot designations you use. You can even ...
1
Per IRS Publication 550 (page 56):
A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you:
Buy substantially identical stock or securities,
Acquire substantially identical stock or securities
in a fully taxable trade,
Acquire a contract or option to buy substantially
identical stock or ...
2
Marginal tax rates mean that you pay different amounts of tax on different levels of income. In the US you pay 10% on the first $9975, and even that is after the standard deduction of $12k. So you pay no tax on the first $12k on income, then 10% on the next $9975 and so on. It doesn't matter how much money you make, you get $12k free and you only pay 10% on ...
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