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Recent State Tax Rates questions

California c corp vs Texas s corp. How much will be the tax

California c corp vs Texas s corp. How much will be the tax difference. Owners will be with respective state only.. Calif c corp owner resides in California.Texas s Corp resides in texas only.Example each company generates a profit of 500,000.Give me classification in all the taxes.Next scenario is if Texas s Corp wants to start an office in California how it will what taxes or should pay but still 100% owner is Texas resident.

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R. Klein, EA

Tax Advisor

Master's Degree

4,668 satisfied customers
Megan, I am wondering what my tax obligations are: I am a

Hi Megan, I am wondering what my tax obligations are: I am a proprietary limited company based in Australia trading on Amazon US. My products are shipped from China directly to Fulfilled by Amazon warehouses in Tennessee and New Jersey before being shippeddirectly to US purchasers. It is a very small business with 80 units ( retailing at approx USD 12.99 each) sold so far - about half from each warehouse. I began trading on Amazon in December 2014 and have only recently realised I may need to pay tax on productsshipped from FBA warehouses. I would appreciate your advice. Best regards, Angela

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Barbara

Enrolled Agent, Paralegal

5,140 satisfied customers
I live in NY and was divorced in 2005. In 2012, I liquidated

Hi - I live in NY and was divorced in 2005.In 2012, I liquidated the entirety of the 401k at $16,133.$1,792 of Federal withholding was netted out at payout.As part of the divorce decree my ex owned 1/2 of my traditional 401k.I want to settle this outstanding debt with her and cut her a one-time check that takes into account penalties, fees, and taxes.I am taxed at the 28% level. What are the Federal and the New York State taxes that I should net out of the $7,170 portion that is hers?Thank you!-MDC

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Lev

Retired

Bachelor's Degree Equivalent

24,192 satisfied customers
I had a question about a 401K distribution and the adoption

I had a question about a 401K distribution and the adoption tax credit. I adopted three children in 2012. I have not used the carryover adoption tax credit at all. So I have the maximum credit which is $37,950. I have an anticipated income of around $78,000. I also have a 401K from a previous employer worth around $48,000. If I elect to cash out my 401K will the adoption credit wipe out an federal tax liability other than the 10% early withdrawal penalty and the state tax(WV)?Thanks in advance.

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Robin D.

Vocational, Technical or Trade School

21,204 satisfied customers
I am a high income earner who has a residence and a job in

I am a high income earner who has a residence and a job in CT. I was offered a similar paying job in NYC just today. NY state taxes are higher than they are in CT (hard to believe) and there are NY City taxes to include in my calculus as well. I am interested to get a sense of what my total state tax liability might be is I decide to work in NYC instead of CT. Indeed, let's say the NY state tax rate is 8.5% and the CT rate is 6% and the NY City tax is 3.5%. Would my net tax rate increase be 6%?

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Lev

Retired

Bachelor's Degree Equivalent

24,192 satisfied customers
If I sell a property in the UK and bring the profit in money

If I sell a property in the UK and bring the profit in money over to the US bank account would I be subject to capital gains tax?THis is my only property and I am an E2 visa holder

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Lev

Retired

Bachelor's Degree Equivalent

24,192 satisfied customers
I AM 66 YEARS OLD AND WAITED UNTIL I WAS 66 YEARS OLD TO APPLY

I AM 66 YEARS OLD AND WAITED UNTIL I WAS 66 YEARS OLD TO APPLY FOR SOCIAL SECURITY. I RECEIVE ONE HALF OF MY EX-HUSBAND'S S.S.D.I. $1,178 PER MONTH, $14,136 PER YEAR. I ALSO WORK 30 HOURS A WEEK AND WILL MAKE APPROXIMATELY $26, 000 THIS YEAR; A TOTAL OF APPROXIMATELY $40,136 FOR THE YEAR 2015.HOW MUCH STATE TAX IF ANY SHOULD I BE PAYING THIS YEAR? I KNOW THE S.S.D.I. SHOULD NOT HAVE STATE TAX (I LIVE IN MASSACHUSETTS) BUT WHAT ABOUT MY WORK INCOME OF ABOUT $26,000?

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Lev

Retired

Bachelor's Degree Equivalent

24,192 satisfied customers
I am 54,single..have not worked in 4 years. With a start up

I am 54,single..have not worked in 4 years. With a start up company and have not taken a salary this year. Want to take out $200,000 out of my IRA to buy a house with my girlfriend. What penalties and taxes will I have to pay next year?

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Lev

Retired

Bachelor's Degree Equivalent

24,192 satisfied customers
Ed! I am considering a job offer on Deerfield, IL and

Hello Ed! I am considering a job offer on Deerfield, IL and this will be as a 1099 (professional services) employee. My question is in order to calculate the rate, how much is the tax rate for that area???

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,222 satisfied customers
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