Join the 9 million people who found a smarter way to get Expert help

Recent State Income Tax questions

C Corp business owner here. Can I take myself off payroll

C Corp business owner here. Can I take myself off payroll for the last four months of the year and declare my income as self-employment, even if it does come from the same place?

Read more

Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,016 satisfied customers
I live in New Hampshire and I will be starting a software

I live in New Hampshire and I will be starting a software consulting company and I have the following questions:1- Should I go for an S-Corp and provide myself a salary so that I can save on FICA or should I just go for an LCC and be taxed 15% + profit tax?2- Should I register the company in Delaware (flat state annual fee of $300 + registered agent fee of $50) or should I do it in NH but I will have to pay %8 on the corporate profit?3- I will be working in all the states and probably not in NH. If I were in a state that has state tax, I will probably get double taxed but will get a credit from my state but in NH there is no state tax, so there is no way to get a credit.4- do I have to pay taxes in all the states where I work?thanks

Read more

Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,016 satisfied customers
I have a pension from being a school teacher (32 years) in

I have a pension from being a school teacher (32 years) in Wyoming, i am 65, have lived in Wyoming since I was 10 years old. I am going to relocate my 89 year old mother and myself to Utah. Utah since my daughter is there and can help me with my aging mother. Will I have to pay Utah state taxes on my pension?I am going to work maybe 2 days a week (substitute teacher) until my mother needs constant care, state taxes will be taken out of my pay check will that affect whether I will have to pay state taxes on my pension or not?

Read more

Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,016 satisfied customers
I live in California and currently work in California, thus

I live in California and currently work in California, thus I'm paying California state taxes. Now I might accept an offer from a company that wants me to work 3 days a week in Texas, and 2 days out of my home in California. How does my taxation change (state income taxes)?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: no

Read more

Mark Taylor

Certified Public Accountant

Masters

1,236 satisfied customers
I'm interested in purchasing a home here in Nevada and

Hello,I'm interested in purchasing a home here in Nevada and trying to figure out the best way to spend money for a $100,000 mortgage downpayment plus $14,000 closing costs($114,000 total) from the following:1) $18,000 Bank checking2) $127,000 IRA3) $56,000 Mutual Fund (this pays about $250/monthly income)My annual income is about $42,000 ($1166/month -social security, $250/month -Mutual fund dividends, $2033/month -life annuity). Also, I will start receiving a $105/month pension in 2017.I would like to keep my income unchanged.Currently in 25% tax bracket, single, no dependents/debt, 64 years old, pay $0 state income tax in Nevada.Thanks

Read more

Mark Taylor

Certified Public Accountant

Masters

1,236 satisfied customers
Resident but work overseas at Saudi Arabia. I file VA tax

I am VA resident but work overseas at Saudi Arabia. I file VA tax return and maintain a residential address and Va driving lisemce in VA. How I can be sure that my son who is currently with me in Saudi will be considered CA domicilary resident for college.

Read more

Robin D.

Vocational, Technical or Trade School

21,198 satisfied customers
I set up a irrevocable living trust, funded it with tax free

i set up a irrevocable living trust, funded it with tax free munis, question do i have to pick up the interest from the trust, tax free interest, on my personal 1040 .... for AGI purposes for medicare payment amount.... or is this tax free interest just that tax free reflected on a 1041 sch B and thats it

Read more

PDtax

Owner

Master's Degree

6,978 satisfied customers
I have a 35,000 severance package in the state of

I have a 35,000 severance package in the state of California.It is being paid as a lump sum.What is the breakdown of taxes and withholdings my employer is allowed to take.Should it be taxed at the federal amount of 25%Will Cal state taxes be taken and how much?Will there be other withholdings such as medicare, and social security?

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,706 satisfied customers
My wife will be taking 97K out of her 401K on a "hardship"

My wife will be taking 97K out of her 401K on a "hardship" in order for us purchase a new retirement home. How much of that money should we either set aside or have automatically taken out for federal & state income taxes?

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,706 satisfied customers
View more tax questions
In The News