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Questions tagged [income-tax]

53 questions
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What is the maximum number of countries in which one can simultaneously be tax resident?

Inspired by this Reddit thread and other stories of people working remotely from all over the world, apparently without giving too much thought to the legal implications, Working abroad remotely and UK taxes: I work remotely abroad for most of the…
user3490
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How can employer and union agree to tax-free payments?

The German news reports that the employer and employee representatives have reached a new collective labour agreement covering metal and electricity industries. I was surprised by on aspect of the agreement: Hinzu kommen steuerfreie…
gerrit
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Tipped Wages: What is a Tip

I am asking this question in relation to recent talk about exempting tipped wages from income tax. This is something that seems to be supported by both Kamala Harris and Donald Trump in their presidential campaigns this year. No tax on tips: Why…
Joe W
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Are resale of goods taxable by individual in germany?

Suppose I buy an induction cooker from IKEA, and then later when moving away from where I live, I decide to sell it to someone moving in. When I do this, I get some money back. Is income gained from such resellings taxable? Thanks.
Clemens Bartholdy
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For an LLC that is not a C-Corp but taxed as a C-Corp (form 8832), does the EIN change when becoming real C-Corp?

Suppose someone creates an LLC and will not be raising funds now, and won't have other company owners yet (like a sole-proprietorship), but elects for the LLC to be taxed as a C-Corp with form 8832. Now, my understanding (if correct) is that this…
trusktr
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Tax Responsibility - American Remote Work in Toronto

I'm an American software developer working for an American financial services company that only services American citizens and permanent residents. I am a remote worker who lives and works in Michigan. My partner lives and works in Toronto, Ontario.…
S.B.
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In which state will your income be taxed?

If you do work in Austin, Texas, as a remote online customer care specialist for the Augusta National Resort (situated in Georgia) do you pay Texas or Georgia income tax?
Neil Meyer
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Does Lehrmann need to pay income tax on the rent that Seven paid for him?

It recently emerged from Bruce Lehrmann’s defamation case in the Federal Court of Australia that Lehrmann received 12 months’ accommodation, potentially valued at $130,000, in exchange for his “bombshell interview” with Spotlight. An executive…
sjy
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Car Debt and the IRS

A certain tax payer is on a payment plan to the IRS. The tax payer owes $10,000. The tax payer has missed several payments and now the IRS is going to take away the tax payer's car. The car is worth about $11,000 however there is an outstanding loan…
Bob
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Final Income tax Return due to death

If a person dies in 2023 and he has significant income in 2023 he has to file an income tax return. Would that income tax return cover the entire year or would it just cover Jan 1 to the date of death? Could it be done either way?
Bob
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Tax year for spending when bank transfer begins and ends in separate years

As a business expense, Alice initiates a bank transfer to a company on 30 Dec 2022 and the money reaches the company some business days later, in 2023. For U.S. tax purposes - assuming Alice files using the cash basis - can Alice claim the deduction…
Gabriel
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What's the point of this partnership template revenue clause?

In this partnership agreement template it states that The Company will allocate items of income and losses as if the Company were liquidated, its assets sold at their fair market value, and the resulting proceeds (net of liabilities) distributed to…
Mason Wheeler
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Startup business what can I deduct in Ohio

Per Ohio law I see that it shows taxable income can be deducted up to $250k. If I have a small startup business and make less than $250k a year as a side business, is it true that this 100%…
Eric
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Tax treaty between UK and USA: Article 20A

I am a UK citizen who has just finished working in the US after <2 years. I have claiming tax treaty benefits using article 20a as I am a J1 research scholar. However, I wasn't present in the UK for the 2020-21 tax season. It seems that I am not…
prayner
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What is "income" for tax purposes?

I can find taxable income, which seems to basically be "income that is taxable". Okay. "Income" gets me something like "money received", but this seems vague for legal purposes. My specific scenario causing me to wonder is this: I have performed a…
Him
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