I have a condo in San Diego that I have owned since October
I have a condo in San Diego that I have owned since October of 2008. I lived in it from that time until October of 2009 when I joined the military. Upon joining the military I was moved around the country from October 2009 to July 2011. During this time I rented out the condo as a long-term rental.In July 2011 I was stationed back in San Diego and I returned to live in the condo from July 2011 until October 2012 when I bought a single family home and moved there. Since October 2012 until the current time, May 2014, I have been renting out the condo as a short term rental. If I were to sell the condo right now would I be subject to capital gains tax?
JD, MBA, CFP, CRPS
I will be working in China. What can I expect to pay in taxes
I will be working in China. What can I expect to pay in taxes on the my income in RMB (Chinese currency) as a U.S. citizen. And, what portion of my income earned abroad will be shielded from taxation by the IRS? Is there a risk of 'double taxation'?
My husband lives abroad due to a work assignment (less than
My husband lives abroad due to a work assignment (less than 30 days in the US in 2011). I live and work in the US. He pays foreign income tax and I pay U.S. tax. His entire income is under the foreign income exclusion amount, however, if filing jointly, the resulting tax is much higher than what I would have paid filing separately. Can i claim foreign tax credit in addition to foreign income exclusion since we're filing jointly? Or are the two mutually exclusive? If so, can I use his foreign tax to offset my US liability (assuming filing jointly)?
I recently have been working 3 separate jobs, and am confused
I recently have been working 3 separate jobs, and am confused on what i should be claiming on my w-4 form. Since i have 3 jobs i dont want to have to owe so much back at the end of the year in taxes. i normally claim 2 on my checks, should i not claim 2 at all my jobs?
We are a Singapore based investment company with no current
Hi, We are a Singapore based investment company with no current U.S. presence/permanent establish. We are looking to contract with a U.S. citizen to provide research. Do we have to report income on behalf of this contractor?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Does this contractor have to establish a U.S. LLC or can we contract with the individual directly?JA: Is there anything else the Accountant should be aware of?Customer: Does this make us have a U.S. presence or permanent establishment? Our worry is being dragged into employment or IRS reporting.
I have a couple of questions: 1. Are the Social Security
Hi,I have a couple of questions:1. Are the Social Security credits calculated on an annual or quarterly basis?In other words, if an employee earns $10K in December, can he or she earns the full four credit for the year? Or, the employee needs to each $1,260 each quartet?2. If the employee receives unemployment in the year? I assume that the amount is not take into consideration for the points but does it make any issue for the employee to earn the points?I appreciate your time and assistance.Thanks!
I had to repay ($4300) some disability payment this year for
I had to repay ($4300) some disability payment this year for income reported last year. How do i get credit on this years return?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Where on this years return do I enter this overpayment?JA: Is there anything else the Accountant should be aware of?Customer: Not that I am aware of
Vocational, Technical or Trade School