How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds
Ask a Tax question
Type Your Tax Question Here...
characters left:
7 Tax Professionals are Online Now

Tax Calculation Rules

What are Tax Calculations?

Tax Calculations are used to determine how much sales tax and how much of the purchase amount is for the price of products and to figure the percentage of what should be as far as sales tax goes. Calculating tax calculations help when a person is establishing a tax category, a tax jurisdiction, and the sales tax calculation code. Any time someone is dealing with tax calculations, it can cause questions to be raised. More times than not, the person figuring the tax may not have the answers. Read below where Experts have answered various questions pertaining to tax.

What should the "value of interest" column contain in the IH-6 form?

Additional Questions: Should it include "deductions" allocated to each beneficiary or should it be the total amount each beneficiary is to receive before allowable deductions and exemptions?

When it is time to list the value of interest each person that is up to get deductions; column 3 will be used to state how much of the property interest is given to the beneficiaries. http://www.in.gov/dor/files/ih-6inst.pdf is the link to get the form that is needed to help with the inheritance tax computation. A legal assistant can be obtained in order to help understand the case. Tax planning is very important and if assistance is needed then the person should get one.

If someone had some ISO stock options from the past but did not include in the calculation of amount, how can this be fixed now?

Case Details: The person is aabout to sell the stocks now.

The person would have to file a 1040-X form to alter the income that came from stock options. http://www.irs.gov/pub/irs-pdf/f1040x.pdf is where the form can be located. A tax advisor will help to change things when it involves past history that involves taxes. The advisor will review details that the person gives and helps with the tax return.

When separated and in the middle of a divorce, is it better for a person to file jointly with spouse or separately?

A person’s filing status is decided by the person’s status of marriage on the last day of the year. If the person is married anytime throughout the year then as far as tax calculations go; the person is married for one year. On the other hand, if the person is not married and is soon divorced then when it comes down to tax calculations; the person will be classified as single and will file separately.

Should a person have to pay any tax if there is large financial gain from a self-employed business income but more than the gained was lost from an LLC K-I?

The person will not have to pay any taxes from what happen with LLC. The person actually can deduct from the losses that occurred. Self-employment taxes will have to be paid but as far as the LLC lost goes it will affect the income that was gained from the self-employed business or anything else that is related to the self-employment taxes

There are different levels of tax calculations that are at a state, federal, and local level. There are people that would love to know what tax bracket they are in. What are Tax Calculations? What is the Federal Tax Calculation? What are the Tax Calculations Rules? Experts are here to help people understand tax calculations.

Ask a Tax question
Type Your Tax Question Here...
characters left:
7 Tax Professionals are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • Ron

    ASE Certified Technician

    Satisfied Customers:

    21176
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
< Last | Next >
  • http://ww2.justanswer.com/uploads/FO/fordguy4u/2011-12-17_222940_HPIM1257.64x64.JPG Ron's Avatar

    Ron

    ASE Certified Technician

    Satisfied Customers:

    21176
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
  • http://ww2.justanswer.com/uploads/lyeung1/2010-07-25_032152_tn_IMG_0241.JPG Dr. Y.'s Avatar

    Dr. Y.

    Urologist

    Satisfied Customers:

    18386
    I am fellowship trained specializing in general urology and reconstructive urology.
  • http://ww2.justanswer.com/uploads/docjohn174/2008-12-13_170143_johnask.jpg John's Avatar

    John

    Home Appliance Technician

    Satisfied Customers:

    13453
    Appliance repair business owner for over 43 years.
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8488
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/dermdoc19/2010-09-30_160749_Photo_122807_015.JPG dermdoc19's Avatar

    dermdoc19

    Dermatologist

    Satisfied Customers:

    3846
    30 years practice in general and cosmetic dermatology
  • http://ww2.justanswer.com/uploads/BI/birddoctor/2012-6-22_173214_birddoctor.64x64.png Dr. Pat's Avatar

    Dr. Pat

    Bird Veterinarian

    Satisfied Customers:

    3384
    25+ years working primarily or exclusively with birds
  • http://ww2.justanswer.com/uploads/RY/rydergar/2012-6-6_192240_IMG0328.64x64.JPG Dr. Gary's Avatar

    Dr. Gary

    Cat Veterinarian

    Satisfied Customers:

    3299
    DVM, Emergency Veterinarian, BS (Physiology)