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Hi. This April I Temporary Moved From CA To IL. At This Moment I'm Still Paying CA Taxes. Now I Decided To Settle In Florida. Because My...
User Photo Conrado Mangapit, EA
Tax Professional Level: Tax Enthusiast

I would assume that you'll have a Florida address by the time you file your tax return for the 2012 tax year. Should you decide to use a tax preparation service in Florida they will ask you: 1. When you left...   Read More
User Photo Sanzar Kakar
Tax Professional Level: Tax Enthusiast

Depending on type of business there is a quarterly 2%, 5% or 10% Business Receipts Tax on all gross revenue. In addition there is a 20% Annual Income Tax on all net profit. For more information, visit http://www....   Read More
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User Photo Patrick O'Hara , EA
Tax Professional Level: Tax Enthusiast

Yes, in theory the taxpayer can put money in a traditional IRA each year and then convert it to a Roth IRA later. This is a loophole that was created in 2010. The catch here though, is if the taxpayer has...   Read More
User Photo Hope Shoulders, Esq.
Tax Professional Level: Tax Enthusiast

In general, if the investment income is from passive activity, then the 3.8% net investment income tax will apply. Internal Revenue Code sec. 1411, states that a net investment income tax is imposed at a rate of 3....   Read More
User Photo Brett Layton
Tax Professional Level: Tax Enthusiast

This is tough one. Understandably States do not want to be pinned down and they also want to retain the right to decide on a case-by-case basis. The behavior of the state is likely inversely proportional to the...   Read More
User Photo Gary Carter, PhD, MT, CPA
Tax Professional Level: Tax Enthusiast

Article 20 of the US/German tax treaty allows a full exemption for income from teaching or research for up to two years if your stay is temporary. The provision that required a retroactive revocation of the...   Read More
User Photo David Neidhart
Tax Professional Level: Tax Enthusiast

Simply, the capial gains tax is set to increase from 15% as of Dec 31, 2012 to about 20-25% in the next year. This will occurr if Congress does nothing and the Bush tax cuts expire. Popular belief however, is...   Read More
User Photo Gary Carter, PhD, MT, CPA
Tax Professional Level: Tax Enthusiast

Your residency status is based on the substantial presence test, which takes into account the number of days you have been present in the U.S. during the current year and the two previous years. Certain visa...   Read More
User Photo Harry-Todd Astrov
Tax Professional Level: Tax Enthusiast

. Absent specific facts, here are some general comments (not legal advice). The evaluation of whether a PE exists is done on a country-by-country basis and depends on whether there is a tax treaty between the U....   Read More


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