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Recent General Excise questions

Accounting advice I am an American citizen living in Thailand

Accounting adviceI am an American citizen living in Thailand with my non US resident wife.I was overseas for the entire 2015 year. My income comes from wholesaling my art to a Hawaii business. I have a PO Box in Massachusetts where my checks and mail (including tax stuff) is delivered. I have a bank account in Massachusetts where my checks are deposited by my parents who pick up my mail.Question is do I have to pay state tax in Hawaii or Massachusetts? I do not own or rent property in Massachusetts nor is my drivers license from there. Only thing that links me to Massachusetts is the PO Box and Bank account.Thank You

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Robin D.

Vocational, Technical or Trade School

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20,604 satisfied customers
I asked earlier if self employed hairstylist who are

I asked earlier if self employed hairstylist who are independent need to pay GE Taxes on the tips. I didn't get a clear answer. I was answered as an employee. Can you tell me what I want to know?JA: Thanks. Can you give me any more details about your issue?Customer: I am an independent contractor as a hairstylist and I want to know if I need to pay General Excise Tax on my tips.JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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16,764 satisfied customers
I live in Florida I'm retired. Daughter lives in Hawaii. I

I live in Florida I'm retired. Daughter lives in Hawaii. I am going to move there. Just bot a home in Hawaii i have it rented for now. Will this hurt me tax wise this year. What do I have to show on my tax return

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Robin D.

Vocational, Technical or Trade School

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20,604 satisfied customers
I recently switched company's and they are accustom to having

I recently switched company's and they are accustom to having their employees file their own taxes. I'm in sales and I also am in Hawaii.My question for you is :1. Do I need to get a general excise tax license?2. Can one be obtained online ?3. How often must I file and turn in paperwork?4. When I file my taxes normally (when my employer took out taxes)...I always got a large tax return back because I have two dependents and I make only about 24,000....when I file my own taxes - will I still get a large tax return?5. What should I know about filing my own taxes ?6. What are the benefits ?

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Robin D.

Vocational, Technical or Trade School

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20,604 satisfied customers
I'm filling out 1099-misc for some subcontractors to my business

I'm filling out 1099-misc for some subcontractors to my business and have easy questions:1. In box 17, do I enter my business's state tax ID or the subcontractor's tax ID?2. Assuming all work was done in one state/ locality, do I just repeat line 7 (nonemployee compensation) in line 18 (State Income & local income)3. In Hawaii, do I need to send a copy to the state or do they participate in that "combined reporting" thing where I just file with the Feds and the state picks it up automatically.Thanks!Debbie

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Lev

Retired

Bachelor's Degree Equivalent

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24,192 satisfied customers
I have a small spa in which ICs render the massages. Contractually

I have a small spa in which IC's render the massages. Contractually I stipulated that I would collect monies on their behalf; I would then pay 4% GET on my portion of gross income, and the IC's would pay 4% GET on their gross income, which would be included in their commissions. I stipulate on their checks that it includes 4% GET. They would, for instance, pay $400 GET on Gross receipts of $10,000 for the year, let's say. I 1099 all IC's. Monies are funneled into an escrow account, which I manage. Some of the IC's, after they have signed contract, worked for the year, say, for instance, then insist that they only are obligated to pay a wholesale amount of .005 to the GET offices; they insist they are wholesalers, and that I am out of integrity. This is a source of great contention. K Note: Remember GET is special to Hawaii; I will need a specialist who understands General Excise Tax.

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Phillip B, EA

Tax Advisor

Bachelor's Degree

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1,324 satisfied customers
I own a home on Molokai. I had a management co. Rent my house.

I own a home on Molokai. I had a management co. Rent my house. The rentor signed a contract for a years rental. However, they did not work out. Both parties agreed to cancel out the contract. They stayed only 4 months. Do I owe general excise tax on this income? I am on social security and my income is only $6,000. A yr. so I do not have to pay state or federal taxes! I was never told by my management co. To get a tax I. D. What should I do at this point. Please help because I do not want to owe any taxes. Thank you for your help. Senior not informed!

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Robin D.

Vocational, Technical or Trade School

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20,604 satisfied customers
Paying into social security ...I work for a company that

Paying into social security ...I work for a company that takes out the normal Fed withholding, state withholding, social security, etc... But I also have a contractors license (Hawaii) and I pay my General Excise tax every year on my side business income.Question: Is it mandatory to pay social security on my side business income? I don't do anything else but pay my general excise tax on my side income. An accountant does my taxes every year and I am really not finance savvy at all so I don't know if my accountant is gettijg everything squared away dealing with social security owed (possibly on my side income). Can you give me some guidance to this to help me understand? Thanks so much

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PDtax

Owner

Master's Degree

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6,770 satisfied customers
My daughter lives in Hawaii and is working for a high end clothing

My daughter lives in Hawaii and is working for a high end clothing store. Her boss has asked her and all of the other employees to get a General Excise Tax license. I am not in Hawaii but from my research it looks as though the owner of the company is asking her employees to essentially become their "own business" and she will then pay them as general contractors. I believe this would mean that my daughter would then need to pay her excise taxes on top of her normal federal and state income taxes. This does not seem like a good deal for my daughter to me as she only makes 10.00 an hour plus commission. I can't seem to find online what the tax rates would be for her. I need some advice for her.Thank you!

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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16,764 satisfied customers
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