asked
I received 16 payments last year over $20,000 through PayPal. I don't think I meet the IRS reporting requirements, but I want to know the reporting requirements for states like Oklahoma and California. Additionally, I am a Canadian citizen living in Canada and was using a friend's address in Massachusetts for my PayPal account. How does this affect my 1099-K reporting, and what should I do if I need to update my information?
March 24th, 2023
What is the IRS taking out of my federal tax check?
January 19th, 2024
If my husband does not have a job, can I add him as a dependent? For the IT-2104 form, do I qualify for earned income credit? How does adding dependents on my state and NYC W4 form affect my future social security retirement benefits when I turn 65? What is the difference between getting a refund at the end of the year and getting less taxes withheld from NYC and the state? If any individual can add any number of dependents to their W4 and state form to get less tax withheld from their paycheck, what is the maximum limit of how many dependents they can add?
May 19th, 2024
As a used car dealer in North Carolina, we are required to collect 3% Highway Use Tax (Sales Tax) for every vehicle sold. Are there any other sales taxes we need to pay, and do we still have to pay sales tax for vehicles sold since November 2018?
November 12th, 2023
My company wants to establish a trust for a retiring employee to fund his significant medical expenses. At what point does the employee pay taxes: upon the funding of the trust or when he receives the benefits?
June 25th, 2023
I have a 457 deferred plan and am approaching 70 1/2 but intend to continue working for 2-4 years. Am I required to take minimum required distributions (RMDs) and can I continue to defer pay to the plan?
May 17th, 2024