asked
What does it mean to be a beneficial owner receiving compensation for personal services performed in the United States and whether to use Form W4 or 8233 while filling out Form W8-BEN as an international student working on OPT?
September 16th, 2023
I have an S-Corp (I am an actress and use this as my loan out). I’ve set a W-2 to pay myself a “reasonable wage.” How do I pay myself “dividends” and how often am I allowed to do so?
October 9th, 2024
I refinanced my home at the end of 2018. I didn't start paying on the new loan until January of 2019. I took cash out in the loan but did not use it on fixing the house. In TurboTax, it asks 'enter the mortgage interest from the amount of the loan used to buy, improve, or build your home that you paid in 2018.' Do I say $0.00 because I didn't pay anything on that loan until 2019? It also asks how much my loan is to start 2019. Do I use the new loan number or how much I owed based on the 1098 I got for my old loan? Additionally, it asks if I refinanced in 2018. Do I say yes or no? My refinance was done right at the end of November, and I didn't have a payment on the new loan until 2019.
July 1st, 2023
Can a husband claim head of household status if he makes less than the wife, and can he file head of household while taking the earned income credit and claiming dependents, with the wife filing as married filing separately with no dependents? Also, is there a plan to eliminate head of household status, and how would that affect tax filing?
April 14th, 2024
I am 65 and still working, and I just started collecting Social Security in 2007. Do I have to pay federal and state taxes on my Social Security benefits? Should I add it to my income? I earn roughly $16,000 a year and receive around $772.00 monthly after Medicare payments and drug costs.
August 2nd, 2023
I run an e-commerce site with nexus in New York City. If I sell a product to a customer in Florida, do I owe tax on that sale? Or do I only owe tax on products sold to customers in New York City? Additionally, if I sell clothing exempt from sales tax in certain jurisdictions in New York, do I need to collect sales tax for customers in other counties like Albany? Also, if I live in Boston for a year but have a supplier in New York, do I have nexus in New York? And if Massachusetts has a clothing exemption, do I need to register for a sales tax license there? Finally, if I move out of New York for a month, is it worth registering for sales tax in New York?
September 17th, 2023