Ask Tax Questions

Tax Professional Level: Tax Wizard
Yes, look at Form 4361. http://www.irs.gov/pub/irs-prior/f4361--2011.pdf Remember, if you dont pay into SSA, you cant pull out. And also remember "Give back to Caesar what is Caesar's and to God what is God's."... Read More

Tax Professional Level: Tax Enthusiast
For 2012 the maximum earned income subject to social security tax is $110,100. The tax rate in 2012 was 4.2% for W-2 employees. This made the maximum social security tax $4,624.20. The maximum for the self-employed... Read More

Tax Professional Level: Tax Wizard
If you claim it on your return, the first $1,900 of your son's investment income is tax exempt. You should input his income this form - http://www.irs.gov/pub/irs-pdf/f8814.pdf Chuck Heyde www.GEMMS.us Read More

Tax Professional Level: Tax Wizard
Of course - that is why they are in no hurry. They have all the time in the world.... Read More

Tax Professional Level: Master Tax Advisor
Yes, minimum distribution rules apply if the deceased spouse had been required to take distributions had she lived. Read More

Tax Professional Level: Master Tax Advisor
Child under 18, employed by parent...Withhold Fed. Tax, FICA and FUTA are Exempt. Child under 21 (19-20) employed by parent...W/H Federal; W/H FICA, FUTA Exempt Child under 21, domestic work (parent) W/H... Read More

Tax Professional Level: Tax Wizard
If you are interested in considering a cost segregation analysis of an ocean going cargo vessel I have a prospective client for you as I won't touch this project with a ten foot pole. Read More

Tax Professional Level: Master Tax Advisor
You can file for LLC in Nevada, Delaware, California. The filing fees would be less in one state over another. The paperwork might be less as well. The state filing fee for CA is $255., DE is $205. and NV is $... Read More

Tax Professional Level: Tax Enthusiast
Setting up your LLC in another state will not allow you to avoid CA tax as long as you are a CA resident and plan to conduct your freelance writing business from CA. If you want to set up an LLC, then you may as... Read More

Tax Professional Level: Master Tax Advisor
The exchanges should be established early 2014. Effective for months beginning after December 31, 2013, employers with at least 50 full-time employees must offer health insurance coverage to its F/T employees or... Read More