I just became a contractor in mid-October and learned I should pay my taxes quarterly to avoid penalties. It's close to the end of the year. Should I submit a form now with an estimate of what I will earn? What percentage should I save each paycheck? I live in VA but have kept my Texas residence due to my husband's active duty. Do I need to pay VA tax with my business since we are here on orders? What about county tax?

July 5th, 2024

I filed my Michigan tax return for 2018 and realized there was a mistake. My pension is not taxed, so I do not owe the state $509. What steps should I take to correct this error?

November 25th, 2024

I have a business registered in NJ. The 1099 MISC is from a business registered in NY. While filing taxes, do I need to include this as income in NJ or NY or both tax returns? How do I make sure that I am not double-taxed on this by two states?

April 5th, 2024

When you inherit an IRA, what happens tax-wise if you need to cash it in? Would you have to pay tax on the money?

September 5th, 2023

I need help from a Canadian Tax Expert. I have questions on an audit I am going through with my 2017 year small business taxes. The auditor is trying to deny my company charitable donations. I have done this every year without problems. I was under the impression that I could claim up to 75% of gross in donations, and carry unclaimed balances forward for up to 5 years. She says that it must go through personal not business. I asked why the forms for the claim were in the business section of the T2125 forms, and she couldn't give me an answer. If the forms are there I would think that is what you use to claim. Am I wrong?

December 30th, 2023