Hello! I am 19 years old, located in New Mexico, and I do art commissions for pocket change through Etsy. I do not work outside of freelance currently as I am attending college full-time. I am filed as a dependent under my parents. I usually make less than $500 a year, but after raising my prices, I have made $420 so far through Etsy.
At what point does my income become taxable?
I work a job in Alaska at a day rate of $600 per day. i find it odd and curious why they dont include the days paid or the rate... but the math checks out for the days in each pay period so im good there for $600 X the days in each period.
is this some tax loophole for the employers benefit? also my very first paystub and 2nd is a total of about 26% withheld each at 19.8% federal withholding.
this is a 4 month seasonal job, i dont understand why im being taxed at such a high rate of %26 overall.
there is no longer the form filling out the 0 or 1 etc to determine how much is witheld. that never happened for this job.
really appreciate any info and sorry im so naive on all this.
thanks!
Hey TIA,
I may have to force sell my condo. This will be a legit sell and division of assets.
178k in Capital Gains. I have used 3 different tax services over the past 15 years.
Not knowing the total depreciation in those years. What do I claim when I report to the IRS? Does the IRS know the total among? Do they know the total amount for the past 7 years? I just don’t want to get audited and be legal!
Thanks so much!
Okay, first off, I was a few years behind. I always overpay on purpose so that I'm not delinquent, even if I do not file for extension. I was finally catching up.
On a Monday (actual date doesn't matter), I mailed in my complete package for 2023 tax year (USPS, certified priority, at post office). I elected to apply my full refund to 2024.
On a Thursday of the same week (so, fourth day after I mailed 2023), I mailed in my complete package for 2024 tax year (same USPS/certified priority/same post office). I elected to apply my full refund to 2025.
I waited and checked transcripts periodically, then got a letter that they had accepted my 2024 filing, but had modified it (don't remember exact language. I save all letters from the IRS, if it's important to check...) because there was no credit to be applied from 2023. Confused, I checked again-- 2024 had been accepted, but 2023 had not yet processed! I'm guessing they got in different piles and somehow got processed out of order.
Then, they processed my 2023 tax year, maybe 2 weeks later, and ACCEPTED it as applying full refund to 2024 tax year.
So what do I do now, so that I get the full 2023 and 2024 refund applied to 2025, which I'm finally ready to submit?
Any ideas/advice (on how to resolve this, or just in general relation to this situation) would be appreciated!
(thanks in advance)
I use this mobile app that I'm now able to earn $600-$700 a year. That right there should be taxable on its own. My question is if I decide to spend that money on that same mobile app to expand my earnings further, would spending that several hundred dollars negate the taxable income as a sort of "business expense"? Note, I choose when to withdraw money from the app. I could not withdraw it all and increase my earnings in app that way, but the most cost effective and efficient way would be by withdrawing and "reinvesting". Since I'd have to withdraw to my bank account first and that would make it income.
So I just started a part time job. This is my first job ever and first paycheck ever. When filling out my w-4 form I didn’t say exempt on anything, I also put single, and claiming 0.
I got my first paycheck yesterday, and no federal income taxes were taken out. I made gross $227.50. State ($9.67), FICA ($14.11), and Medicare ($3.30) taxes were all taken out but not federal. I also started work half way through the week, so half way through the pay period.
I’m paid weekly and so far am scheduled for around 22 hours per week, at $14 an hour.
This is my first job, and my parents wanted to make sure I filled out everything correctly. They’re concerned I’m going to owe money when taxes come around. So, is it right that none got taken out? Or should I contact my manager about filling out a new form? Thank you.
I moved from WA to NY in April. I got a NY sales certificate. I have a shopify. I used to take most orders with card but for two months, I've been taking cash. I record every purchase. I hate nyc. I am just here to pay off my debt then I'll leave. This past quarter for nyc, I reported $0 and plan to file for WA. I have not changed any address or filled for foreign domestication in nyc. Can I just file in wa for the year or so I'm here?
I am missing W-2 forms and I'm trying to get them emailed. I have tried contacting former employers and some will not give me my documents.
I have no pay stubs and no idea how much I was paid.
sooo today is my deadline to pay my taxes.. and the website is unavailable. i live in Georgia.. does anyone know if it’ll be up later today or…
I called the IRS and I am not allowed to receive any information on my IRS account and will not be allowed to make an in person appointment. I have lost my previous tax returns. I do not have a permanent address and do not remember what address I put down on my prior tax returns.
Is there a way I can get my complete set of tax documents?
Is the joker really that scared of the irs?
I run a small consulting business and I have been doing my own bookkeeping for two years. I'm not sure if I'm doing it right. I have an S Corp election and I know I need to pay myself a reasonable salary but I have not been consistent. I'm worried about my corporate tax return.
Has anyone else been in this position. How did you get your books cleaned up without starting from scratch.
I reached out to Josh Katz, CPA . He reviewed my books and helped me set up a proper system.
I'm a US citizen and I have been living in Italy for a few years. I recently resigned from a job where I paid Italian taxes. Now I am self employed and I have no idea how to handle my US tax situation. I know I need to file US taxes on worldwide income but I am not sure how the Italian taxes I already paid factor in.
I am also confused about self employment tax and whether I need to make estimated payments to the IRS. Has anyone here been through this transition from employee to self employed abroad.
I reached out to Universal Tax Professionals. They specialize in US expat taxes and helped me understand how to claim the Foreign Tax Credit for the Italian taxes I paid, but still looking for more advices, thanks!
RESOLVED.
My husband is older so he already had a turbo tax account with his SSN and filed on his own (when we weren’t married yet) . I never made an account cause my age (parents filed me under them at that time, not turbo tax , their own tax person). So i never had my own account to pay taxes every year, unlike my husband . First year of our marriage , we filed jointly (i made a new turbo tax account with my ssn cause i didn’t have one and i just put him in THAT same account -to file jointly-). This year in April , we wanted to file separately but married to see if we can receive more $. When my husband went back to his old account (that he used to file when “single”) , because we have been using “mine” (ours , jointly), it said that he hadn’t paid taxes in years (ever since we married since we didn’t use his account, we used mine -aka ours) and owed a LOT. we chose to do jointly (in our joint account technically) and only got $35 (but was better than owing $1k).
Idk if this made any sense , i hope it did. Did we do it wrong? Were we suppose to use his account (the one he had before our marriage, where he filed single) and i was just suppose to add my ssn there? But then what if we filed separate but married one year and if we had been using his , if i made one it would have seemed like i never paid taxes up until that moment? Blah
I’m going to babysit someone who’s going to give me a 1099 form. Since I’m going to be the one working by her own schedule, what does this mean for me as a 1099 employee? I know that’s no such thing but that’s how she wants it. I’ve read online that I’ll have to be responsible for baying both out payroll taxes (social security and such) is that true??
So my schedule would be Tuesday, Wednesday, and Friday 3:30 pm to 8pm (on her terms, in her house)
How does this benefit her??
Hi, I have a full time job that I pay normal taxes for every year and that's my only source of actual income, but this year I started doing art commissions on the side. I'm seeing conflicting info online about the tax threshold for this. I'm in Ohio for context. Some people are saying the threshold is as low as $400, some $600, some as high as $10,000. I am genuinely lost. Will PayPal at least automatically send me a form if I end up needing to pay? I just want to know what to expect. I've made about $350 so far on commission work.
I move around a lot and don't have any tax documents. I don't know how many jobs or who I worked for. I've been in and out of homelessness and the whole year has been a blur.
I have worked in multiple states and have several taxable accounts, such as a Health Savings Account from years ago, and have no idea where it is or how much it is, or what other taxable accounts I may have.
This has been since last year. I didn’t do my taxes for 2019 because I had a stroke. I did them when they called it to my attention. How long should I wait for it to be resolved? Also, will I be getting the money back, since they did my taxes with the most dire circumstances in mind and charged me 2000 as a result, but my actual taxes were 400?
I’ve been at my NY-based company for 5 years, 4 of which I have been completely remote in NJ. My employer never marked me as a remote worker. On my paychecks, I have state income tax withholding for both NY and NJ.
Since I am currently going through the process of state benefits for maternity leave (was paying into NY And told to apply in NJ), my employer is requesting I now provide them with exactly how I want to be taxed and where I want my work location to be listed as. Since I work in NJ and live here, I requested both be listed as NJ but that due to the convenience of the employer law in NY, I need state income tax withholding from NY. HR is telling me ADP can only withhold from a single state (which doesn’t make sense bc I currently get both states taken out…). They have now moved all my taxes to NJ, with no withholding in NY.
Is this correct? Shouldn’t I be paying NY state income tax?
If I filed an extension payment for (KS) State taxes, how can I find out my balance? This is my first year having to file for an extension. Will I get mailed? Anyone know about Missouri as well?
