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Recent Tax Payment questions

I am going to start working as an Uber Driver. It is

I am going to start working as an Uber Driver. It is considered an independent contractor and I understand that I will be subject to double taxation from the Self Employment tax. Are there options for me to avoid/minimize that additional tax (i.e. form a business entity...), and is there an income threshold I would need to meet in order to see any savings?

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Dr. Fiona Chen

President

Ph.D.

282 satisfied customers
I own a home in California. My property taxes are in escrow

I own a home in California. My property taxes are in escrow and included in my monthly mortgage premium. Because of financial hardship in 2015, I did not pay many of my mortgage payments, (which of course includes my property tax payments). I am now in modification with my lender and expect to save the house and continue living in the property. Can I still deduct my total property tax bill for 2015 on my 2015 income taxes?

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Dr. Fiona Chen

President

Ph.D.

282 satisfied customers
I am converting a traditional IRA to a Roth IRA. When are

I am converting a traditional IRA to a Roth IRA. When are the taxes on that due- now or when I file my taxes? (The company said they will mail me a 1099-R)

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Mark Taylor

Certified Public Accountant

Masters

928 satisfied customers
I have been selling on Amazon FBA since 2015 and recently I

Hello,I have been selling on Amazon FBA since 2015 and recently I found out that I had to collect and file sales tax in 14 states that amazon ships inventory from. I have not collected sales tax and I have not filed any sales tax since 2015. I only registered my business in Alabama where I live. I have an EIN number that is associated to my amazon account but I don't have my business registered in the the other 13 sates. I connected TaxJar to my amazon account and it showed me that I ow sales tax to the 14 states. So what should I do now? how do I pay the overdue sales tax for those states? what is my situation now?

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Mark Taylor

Certified Public Accountant

Masters

928 satisfied customers
I inherited 51k i file joint return with spouse we both

i inherited 51k i file joint return with spouse we both receive social security 25k per year and i receive 18k veteran disability and 4k retirement. How much of the 51k should i set aside for tax payment

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

3,998 satisfied customers
I am an EA and am expanding my practice to include payroll

I am an EA and am expanding my practice to include payroll and bookkeeping. I am trying to figure out the best way to inexpensively service my client. I have a number of 1-2 man S Corps who see the tax advantages of Incorp, but now need to do better bookkeeping and payroll. I was told Intuit has a great inexpensive service but did not really see the prcing for it. I heard as an accountant user (I am a pro advisor) my part if very inexpensive. But what does the client have to pay if not QB already?? Also, my bookkeeper has been extolling on the advantages of Zero on line. My clients need little bookkeeping and the simplest of payrolls. Can you tell me how it works and the best way to charge the client? I can handle charging for my services, but I am not sure what the options are on QBs and Zero, not to mention on line vs desktop.

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DanielleCPA

Certified Public Accountant

Bachelor's Degree

958 satisfied customers
I've been a 1099 employee months, and I haven't had any

I've been a 1099 employee for 3 months, and I haven't had any taxes withheld. I'm trying to figure out how much money I should be withholding from my paychecks going forward so that I don't owe money at the end of the yearJA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: My salary is 35000

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Mark Taylor

Certified Public Accountant

Masters

928 satisfied customers
The state of Illinois is requesting 2012 and 2014 tax

The state of Illinois is requesting 2012 and 2014 tax returns. I filed on time through turbo tax. How may I retrieve them!Bernard

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58 satisfied customers
Three siblings received the same disbursement amount into

three siblings received the same disbursement amount into their safe trust accounts from a business that the trusts own equally. The tax profession paid the taxs based on the trust account rate, in other words the funds where not disbursed to their personal accounts but held at year end in the trust. one sibling lives in nj, another in nyc, the last in nys,suffolk county. Are there 3 different tax rates base on where they live or it based on where the trust is domiciled?

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Mark Taylor

Certified Public Accountant

Masters

928 satisfied customers
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