Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
tax rate on cap gains?
Suppose I have $9M (million dollars) in net gain resulting from the sale of long-term securities (stock and bond funds). Can I still assume the maximum federal tax rate is 15%? Or does the size of the...
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Tax arbitrage of sorts?
Let's say I have two trading accounts, each with $25K, and one is a margin taxable account and the other is an IRA (with permission to trade futures). I hold and occasionally trade long ES (S&P...
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APIC
Final C Corp is dissolving in 2013. Personal money is contributed by the shareholder to the corporation in 2013 to pay bills and it is coded on the corporate books as additional paid in capital. No...
 
Looking for Confirmation of Definition of Long Term Gain For Stocks
I bought stock on Jan 3 2013 and want to sell it as soon as the gain is long term. My understanding is that if I sell it on Friday Jan 3 2014, it is considered short term. For long term, I have to...
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life insurance policy question in CT
I'm sure somebody has asked the same question millions of times, but somehow I cannot find a clear-cut answer online and/or from advisors. Therefore I am trying to get some opinion from this forum....
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Missed estimated taxes
I missed making estimated payments for all quarters. I am going to file the 4th quarter. Should I file earlier three quarters also or pay late fee with 1040? I prefer to pay the penalty with 1040. I...
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Separate returns for dependent child?
IRS Pub 929 explains when a dependent child __must__ file a separate income tax return. The relevant rule is: the dependent child has unearned income only which is in excess of $1000 [1]. My question...
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Employee Auto Expense Question
Employer reimburses auto expenses with both a fixed dollar amount per month, and a mileage rate. The total dollar amount of the two, vs the miles driven, does not exceed the Federal standard mileage...
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Reconciling Interactive Brokers Brokerage Statements
Have any of you come up with a method of reconciling an Interactive Brokers brokerage statement? Specifically, I want to look at the change in net asset value on the first page of this statement, and...
 
2012 New York State tax question
My wife and I are fulltime residents of California and expect to receive a 2013 New York State k-1 from the estate of my wife?s late mother. The k-1 is for a 2013 estate distribution that she (and...
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Moving and/or taxes province to province - help
I?ve been living in BC and working for a BC company but all of the work is out of province and mostly in Alberta. I am of course taxed at BC rates. I am wondering if any knowledgeable person may be...
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House Owned Overseas As A Corporation
Hi, My wife and I purchased a retirement home in Costa Rica as a corporation (common here to reduce taxes). The house is worth more than $400K. It is only a house - we do not derive any income from it...
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Alternative tax programs?
To follow up on others' inquiries about TurboTax, what are the alternatives? I tried TaxCut twice, it had its good and bad points, but it made TurboTax look better than TaxCut, in my opinion. What...
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Is a 457 plan in lieu of SS a "retirement plan"?
A worker has a regular job with no 401(k). He also has a few hours each week at a local high school. In Massachusetts, teacher income is not subject to Social Security tax. He sees his paycheck shows...
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green dot money pack scam
I was frauded by some guys calling from India(I believe, may be living in US) to make payment in the amount of $5000. They were threatening me that I owed thatd towards 2010 taxes and if I do not they...