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As single recipient, you need to subtract $2,400 from the amounton your 1099-G FORM. As said previously, If you wish, you may choose to have federal and/or state taxes(if applicable) withheld from...

No;as an employee, you receive a W-2 form as proof of the wages paid and the taxes withheld by your employer for the previous calendar year. If you are not an employee, but an independent...

According to a survey,The average salary for live in housekeeper jobs is $19,000. Average live in housekeeper salaries can vary greatly due to company, location, industry, experience and...

No. You do not pay state incoem tax to Cali. State government as you do not live or work in CA.; as you know,there is no state income tax in your home state, Texas, as one of the seven states that...

Yes; for 2009;employer's portion is: 1.3%---9.7% on first $8,500 with voluntary contributions. Employee's portion is: 0.5% of weekly wages, not to exceed $.60 per week( disability insurance).If an...

QUOTE," Yah but in 2009 Publication 519(US Tax Guides/Returns for Aliens). It says that if we physically present in the United States on at least 183days during the 3-year period consisting of 2007,...

Yes;however,the IRS is also required to notify you before it begins to garnish your Social Security distributions.You are able to appeal the garnishment for reasons of "hardship," but you need to...

QUOTE,"you can do a custodian-to-custodian transfer to a rollover IRA, allowing you direct control of the money for investment purposes without paying ANY taxes."---- Right! If you instruct the...

QUOTE,"it is NOT "stepped up" to fair market value as of the date tof death like it would have been if he passed away in 2009 or earlier."--- Good point!

QUOTE," . . . several years ago my parents in their house in my name. What obligation do I have to report this asset to the US govt?"--- You must file the FORM 3520( if the FMV of the gift, the...

No; New York State exempts pension benefits or distributions to officers and employees of the federal government, New York state, and New York local governments from state, New York City, and Yonkers...

Unless you dispose of the inherited property, you do not pay any capital gain tax; however, all capital gains resultiong from the disposal of inherited property are regarded as LTCGs(if the inherited...

QUOTE," but the situation is not like i bought it for a profit, the house was given to me and after paying everything off the remainder is what i want to bring over."--- Bottomline is that once, the...

QUOTE,"Am I right to conclude that since the end of the company's accounting period has not yet occurred (Dec. 31 2010), I would first file 5471 with his 2010 taxes in 2011?"----You should report...

QUOTE," Also what rates would i be looking at?" ---- Contact the dept. of revenue of your State Government for the State level CG tax info.

QUOTE," Both the IRS and the USCIS have more important things to do that to pursue a student who is making $10 a month in pocket change from Google Adsense."---True.

QUOTE," but would I also have to pay income tax on the withdrawn amount? "----Yes;The withdrawal is considered income, and regular income tax is due at your personal tax bracket.Gross income,early...

QUOTE," When does he need to start filing form 5471?"---Form 5471 is due at the same time as your income tax return,including extensions. For instance, a calendar year corporate taxpayermust file...

QUOTE,"i HAVE JUST BECOME AN INDEPENDENT CONTRACTOR"---You , as a self-employed independent contractor, should pay a significant percentage of your income to the government in the form of SECA tax. ...

QUOTE," The money is in an account abroad.What do I pay tax on?"---If you are either a US citizen or a resident alien (either under the US Tax Code or US INS Rules),if you have a financial interest...

The exemption does not apply to you, F-1 visa holder, a nonimmigrant, who became resident alien in 2009.
"How should I resolve this?"---You need to contact your employer so that he/she can start...

"im on h4 dependent visa bank has sent me separately w8ben form . . . "---As you can seee, H4 visa holders are not permitted to work in US.The Form W-8BEN is a form filed by non-resident aliens...

QUOTE,"I came to US on H1B visa during November,2009."----Actually, you entered the US after July 2nd of 2009.So, you couldn't meet the Substantial Presence Test and must have filed as a non-resident...

QUOTE," I'm not allowed to work anywhere but my school. I have a small blog in which I earn something ridiculous like 10 dollars per month. . . I am not sure if that's the right thing, though. Am I...

QUOTE," i got hired as an contractor and my recruiting firm is charhing me 30% tax , . . ."------Your employer who contract you, a F1 visa holder, as independent contractor rather than an employee...

QUOTE," so it should be treated as a Partnership"---Ok Then it is not LLC but it is LLP.

"International tax should not be an issue because we are planning to sell in USA and pay full taxes in USA,...

QUOTE," In order to open an LLC with Federal Tax ID (EIN), I need a ITIN or SSN.Of course, getting a SSN is not feasible."----I bet your question carries a variety of compex issues;much of the answer...

QUOTE," I thought a W4 was needed to file a 1040, is this not the case?"---No. The chief purpose of your W-4 Form is to provide your employer with your personal info. As an employee;in the US, an...

QUOTE,"How would I report this portion of the stipend to the US IRS?"---You, as an academic degree candidate, need to report the amount of your foreign stipend used for your living expenses,...

QUOTE, I am currently pending un-employments benefits,should I check yes or no where it states if I like to have my taxes withheld from my unemployment checks."---It dependsn on the amount of the...

QUOTE," Is the overseas income of a H-b worker taxable?"---It depends on whether he is categorized as a Resident Alien or a Non Resident Alien for tax purposes(Under the US Tax Code, not under the...

QUOTE," Am I given the same exception from US taxes if my 'income' is a stipend given by the UK government?"--- In general, a scholarship or fellowship award made on the basis of need or academic...

QUOTE,"I am a member of CALPERS. Am I exempt from medicare . . . "----It depends on your choice;your Medicare covers many but not all of your health care costs. In addition to Medicare's monthly...

QUOTE," She is a resident of Alabama and I am a resident of Oklahoma. Can we file Marred Filing Jointly? "--- In general, if you and your spouse file married jointly, MFJ, on your federal income tax...

QUOTE," i have an account in germany that has over 10k in euros in it.'-----Assume that you, as a US citizen or resident alien (either under the US Tax Code or US INS Rules),if you have a financial...

QUOTE,"and how much would that be? "---Do you mean the amount of your tax refund on the tax return that you filed in 2010? I do not know how much it'd be; I have no anyidea on your tax return in...

QUOTE," how many (and which) allowances should I mark to have the right amount of taxes withheld?"---It depedns on your specific sitaution,i.e. your estimated itemized deduction for 2010, youir...

QUOTE," My annual salary is $68,000. "----Assume that you are a F1 visa holder and single from India, and you can claim your personal exemption and standard deduction in 2010, then your taxable...

No.You are a nonresident alien for 2006, 2007, 2008, 2009 and 2010. If you are in the U.S. for at least 183 days, then you will be a resident for tax purposes( under the US Tax Code) in 2011.


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After your employer learnes from your form W-4 the number of withholding allowances for you, your employer selects a withholding method. Employers usually choose EITHER wage-bracket method or...

QUOTE," the father of her children is apparently NOT her husband."---Correct! I am sorry; right. He is not actually her husband.

QUOTE," Is that legal? is it considered tax fraud?"---- A you know, employees should give Form W-4 to their employers so that they can provide necessary identifying information to their employers;...

Right! Agreed;the State Disability Insurance (SDI) of Cali. State withholding rate for 2010 is 1.1 percent. The taxable wage limit is $93,316 for each employee per calendar year. The maximum to...

QUOTE," Please refer my last post about w8-BEN."---Right! You do not need the Form W-8BEN.FormW-8BEN is used to establish that you are not a U.S. person,claim that you are the beneficial owner of the...

QUOTE," So my question is what kind of documents my employer needs . . ."---- Youe employer needs to visit the following website:Foreign Student Liability for Social Security and Medicare Taxes Let...

QUOTE," Is he eligible for American Opportunity Credit ?"----Sorry, No; AOC is available for the first four years of ppost-secondary education.The AOC is for the first 4 years not graduate school.

QUOTE," Do I have to pay taxes for the interest and / or capital gans?. "----It depends on a situation; for example, if you and your spouse, or either onef of you arrived in US in 2010,I mean the...

Please visit the website The Mortgage Forgiveness Debt Relief Act and Debt Cancellation

QUOTE," Can I write any of the equity losses off on my taxes as losses carried forward? "-----No, you can't. Here I am giving you a very simplified example. Assume that You borrow $10,000( $5,000 for...

QUOTE," As I will not complete 180 days for 2010 tax year, will i be eligible to file returns which I paid as tax for this year, . . ."---Yes, as said above; as you know, your visa, H1B is an...