Personal Income Taxes Resident Knowledge Base
Do I have to pay non-resident personal income tax in multiple states? In addition to working in my office 25 weeks a year, I travel 25 weeks a year to a dozen other states (spending as few as 4 days in some states to as many as 28 in one). Do I incur state income taxes for those states? Is there a chart showing the maximum number of days I can work in other states as a nonresident without incurring a tax liability or having to file a return?
State income tax filing: part resident in Virginia? Hi there, my husband lived and worked in Washington state from Jan 07 to Aug 07. He then lived and worked in Virginia from Sep 07 to Dec 07. I lived and worked in Washington state from Jan 07 to Dec 07. For federal tax, we are going to file "Married, jointly". We don't need to worry about Washington state tax since there is not personal income tax there. However, in Virginia, there are income state tax for residents, part-residents and non-residents. My husband is still non-resident in Virginia since he has not changed his driver's license yet. I guess he will need to file part/non-resident state tax in Virginia for the income he earned while he lived there. Am I correct? Is it okay for him to file Virginia state tax individually and federal tax jointly with me? Will it affect the federal tax filing? Thanks a lot. Us as One: I don't quite get what you meant. Would you mind explaining it a little further?
College student need to file non-resident taxes? I'm a college student in Massachusetts who is a resident of Hawaii. I've made less than 600.00 from work-study in college, would I have to file the non-resident taxes? The instructions on the form says that: You must file a Massachusetts Nonresident/Part-Year Resident Income Tax Return, Massachusetts Form 1-NR/PY, if you were not a resident of Massachusetts and you received Massachusetts source income in excess of your personal exemption multiplied by the ratio of your Massachusetts income to your total income. My total income is less than 1600, and I'm not claiming any personal exemption, would I have to file the non-resident tax in MA? Thank you so much!
Regarding personal income tax preparations, When I am asked if I had any state or local income tax refunds...? I'm filing my 2007 taxes right now. Regarding personal income tax preparations, When I am asked if I had any state or local income tax refunds... Does that mean what I got back from the previous year's (2006) taxes? Or maybe an early sort of state reimburstment for some of 2007's taxes? This should be a simple question, and I'm 99% sure I know what they mean, but it just surprises me they don't specify. FYI, I am a Michigan resident. FYI, I am talking about some pretty simple tax filing stuff...I'm a 21 year old dependant, and made 13k this year or so... so nothing else too fancy is even considerable in this ordeal. No selling of a house or property or a car or any IRA or ROTH investments or what-have-you. Just the siomple basic question. It further specifies that I should be able to find this information on a 1099-G form........Any ideas?
Owning business in DC and ? I am planning to start my wholesale car dealership business in DC (since rules are much tougher in Maryland). But I am a Maryland resident. Owner of dealership will be my LLC based in Maryland. I know at the end of the day I will need to pay Maryland personal income tax since I am a resident. But will I also need to pay DC income tax since I will be conducting business there. Hopefully some CPA from DC area and can answer me this. Thank you very much. Arslan
For a resident of Missouri, how much money is taken out of a paycheck for taxes? Specifically, I'm interested in the percentage taken out. This includes Federal Income Tax, any State taxes removed from a paycheck, and Social Security. Remember, this is for a resident of Missouri. I am using this for some personal budgeting models, specifically for determining when I am financially able to get married. Any sources to back up any answers would be most appreciated. Thank you all and God bless! I am aware of "tax brackets" and know this won't be a simple answer. The more info the better. Thanks! P.S.- I am currently unemploied, therefore talking to my employer is not an option. I am trying to come up with a reasonably accurate formula to predict what my income will be after taxes, by inputting the amount of income on a MS spreadsheet.
Are Canadian PR considered resident if they do not reside in Canada? Me and my family will be do our landing in Canada to strart or PR. However, we do not plan to reside in Canada anytime soon. This is because my husband is currently working in Singapore (low tax regime country). Furthermore, we do not have any property nor family member there. We are unlikely to more there within the next 3 years. However, I was given to understand that once we do our landing, my husband would have to pay Canadian Income Tax on his foreign earned (Singapore) income although we do not reside there or will be there less than a week. Can someone tell me how this works. Furthermore, is there 2 level of personal income tax there like in the States, provincial and Federal? We have 2 kids; 5 & 9 yrs old. What is the tax rate like. Is there any personal deduction, spouse and child allowance like in Singapore? I am very concern because the tax rate in Canada is very high and since we are not benefiting from living there, we would have to pay our hard earn money to government.
How do you solve this economics problem? This is a national income data Exports: $15 Net investment: 18 Personal savings: 20 Net exports: 5 Net National income: 290 Direct (personal income) taxes: 30 Gross investment:46 Disposable income: 250 Net investment income from non residents:-7 Undistributed corporation profits: 20 Net income of non-farm unincorporated business: 37 Indirect taxes (less subsidies):40 What is the GDP?
Why don`t people research leaders and only accept the given thought of the mass media? Austin, Texas... Politex's for BUSH FAMILY SKELETONS ...www.bushwatch.com -------------------------------------------------------------------------------- Bush Watch... abortion... archives... autobiography... books... brasin's beat... bush league... blacks... blurbs... california... cartoons... charter schools... cocaine... comedy... culture... de lay... education... environment... executions... exploitation... family... foreign policy... free speech... funeralgate... gays... guns... health... insider trading... iowa... jews... justice... latinos... lotterygate... media... millions... pat... personality... press kit... quizgate... rankings... religion... schedule... songs... talk... taxes... tobacco... triangulation... welfare... end... -------------------------------------------------------------------------------- BUSH FAMILY MACHINATIONS, 1918-2000 1918 Prescott Bush Sr., leads a raid on a Indian tomb to secure Geronimo's skull for Skull & Bones. 1937 Prescott Bush's investment firm sets up deal for the Luftwaffe so it can obtain tetraethyl lead. 1942 Three firms with which Prescott Bush is associated are seized under the Trading with the Enemy Act. 1953 George Bush and the Liedtke brothers form Zapata Petroleum. Zapata's subsidiary, Zapata Offshore, later becomes known for its close ties to the CIA. 1954 The Bush family buys out the Liedtke brothers. 1955 George Bush sets up a Mexican drilling operation, Permago, with a frontman to obscure his ownership. The frontman later is convicted of defrauding the Mexican government of $58 million. 1959 Manuel Noriega recruited as an agent by the US Defense Intelligence Agency. 1960 Some investigators believe George Bush spent part of this year and the next in Miami on behalf of the CIA, organizing rightwing exiles for an invasion of Cuba. Is said to have worked with later Iran-Contra figure Felix Rodriguez. 1961 According to the Realist, CIA official Fletcher Prouty delivers three Navy ships to agents in Guatemala to be used in the Bay of Pigs invasion. Prouty claims he delivered the ships to a CIA agent named George Bush. Agent Bush named the ships the Barbara, Houston and Zapata. Bay of Pigs invasion fails. Right-wingers blame Kennedy for failure to provide air cover. CIA loses 15 men, another 1100 are imprisoned. George Bush invites Rep. TL. Ashley -- a fellow Skull & Boner -- down to Texas for a party in order to meet "an attractive girl." Bush writes that "she may be accompanied by an Austrian ski instructor but I think we can probably flush him at the local dance hall." Bush notes that he's had to unlist his phone because "Jane Morgan keeps calling me all the time." [From a letter in the Ashley archives uncovered by Spy magazine.] Zapata annual report boasts that the company has paid no taxes since it was founded. 1963 John F. Kennedy is assassinated. Internal FBI memo reports that on November 22 "reputable businessman" George H. W. Bush reported hearsay that a certain Young Republican "has been talking of killing the president when he comes to Houston." The Young Republican was nowhere near Dallas on that date. According to a 1988 story in The Nation, a memo from J. Edgar Hoover states that "Mr. George Bush of the CIA" had been briefed on November 23rd, 1963 about the reaction of anti-Castro Cuban exiles in Miami to the assassination of President Kennedy. George says it ain't him, admits he was in Texas but can't remember where. 1964 George Bush runs as a Goldwater Republican for Congress. Campaigns against the Civil Rights Act. 1966 Bush, runs as a moderate Republican, gets elected to Congress. Robert Mosbacher chairs Oil Men for Bush. Apache leader Ned Anderson meets with the Skull & Bones lawyer and George Bush's brother Jonathan who attempt to return the skull Prescott Bush had looted in 1933. Anderson refuses the skull because he says it isn't Geronimo's. 1968 George W. Bush joins Skull & Bones at Yale 1970 Bush loses Senate race to Lloyd Bentsen, despite $112,000 in contributions from a White House slush fund. Jim Baker is campaign chair. Bush later claims to have reported correctly all but $6000 in cash --which he denies he got. A 1992 story in the New York Times says the $6000 was listed in records of Nixon's "townhouse operation" which was designed in part to make GOP congressional candidates vulnerable to blackmail. 1971 Bush is named UN Ambassador by Nixon. Bureau of Narcotics and Dangerous Drugs finds enough evidence of Noriega's involvement in drug dealing to indict him, but US Attorney's office in Miami considers grabbing Noriega in Panama for trial here to be impractical. State Department also urges BNDD to back off. 1972 Bill Liedtke gathers $700,000 in anonymous contributions for the Nixon campaign, delivering the money in cash, checks and securities to the Committee to Re-Elect the President (the infamous CREEP) one day before such contributions become illegal. Bill says he did it as a favor to George. 1973 Bush is named GOP national chair. Brings into the party the Heritage Groups Council, an organization with a number of Nazi sympathizers. Bush, according to Lowell Weicker, inquires as to whether records of the "townhouse operation" should be burned. Robert Mosbacher wins an offshore drilling concession from Philippine dictator Ferdinand Marcos. Watergate tapes indicate concern by Nixon and aide HR Haldeman that the investigation into Watergate might expose the "Bay of Pigs thing." Nixon also speaks of the "Texans" and the "Cubans." and mentions "Mosbacher." In another tape, Nixon decides following his re-election to get signed resignations from his whole government so he can centralize his power. Says Nixon to John Erlichman: "Eliminate everyone, except George Bush. Bush will do anything for our cause." 1974 Bush is named special envoy to China. 1975 DEA report notes Noreiga's involvement in drug trade. George W. Bush graduates from Harvard Business School 1976 Jerry Ford names George Bush CIA director, his fourth political patronage job in a little over five years. Bush later claims this is the first time he ever worked for the CIA. At his confirmation hearings, Bush says, "I think we should tread very carefully on governments that are constitutionally elected." Bush holds first known meeting with Noriega. Noriega starts receiving $110,000 a year from the CIA. Noriega found to be working for Cubans as well, but keeps his CIA gig. Bush sets up Team B within the CIA, a group of neo-conservative outsiders and generals who proceed to double the agency's estimate of Soviet military spending. Senate committee headed by Frank Church proposes revealing size of the country's black budget -- intelligence spending that, in contradiction to the Constitution, is kept secret even from the Hill. According to journalist Tim Weiner, Bush argues that the revelation would be a disaster and would compromise the agency beyond repair. By a one vote margin the matter is referred to the Senate. It never reaches the floor. Chilean dissident Orlando Letelier is assassinated by Chilean secret police agents. CIA fails to inform FBI of pending plot and of assassins' arrival in US. CIA claims the hit was the work of left-wingers in search of a martyr. Bush writes internal CIA memo asking to see cable on Jack Ruby visiting Santos Trafficante in jail. In 1992, Bush will deny any interest in the JFK assassination while CIA head. Bush claims nuclear war is winnable. 1977 Philippine dictator Marcos buys back Robert Mosbacher's oil concession. Mosbacher claims he was swindled. Philippine officials say they never saw any expenditures by Mosbacher on the project. 1978 Bush, Mosbacher and Jim Baker become partners in an oil deal. From a Washington Post article by Bob Woodward and Walter Pincus: "According to those involved in Bush's first political action committee, there were several occasions in 1978-79, when Bush was living in Houston and traveling the country in his first run for the presidency, that he set aside periods of up to 24 hours and told aides that he had to fly to Washington for a secret meeting of former CIA directors. Bush told his aides that he could not divulge his whereabouts, and that he would not be available." Former CIA chief Stansfield Turner denies such meetings took place. George W. Bush declares his candidacy for the Midland Congressional district. He wins the Republican primary and loses in the general election. George W. Bush begins operations of his oil firm, Arbusto Energy. With the help of Jonathan Bush, he assembles several dozen investors in a limited partnership including Dorothy Bush, Lewis Lehrman, William Draper, and James Bath, a Houston aircraft broker 1980 Bush becomes Reagan's vice presidential candidate. Runs as a rightwinger again. Mosbacher becomes chief fundraiser for Bush's presidential campaign. Forms a millionaire's club of 250 contributors, each of whom cough up $100,000. William Casey forms a working group to prepare for possible Carter October political surprise. In early October, an Iranian official meets with three top Reagan campaign aides. All three deny memory of the meeting in subsequent proceedings. On October 21, Reagan hints he has a secret plan to release the hostages. This is right around the alleged date of a Paris meeting at which the so-called "October Surprise" was settled. Some allege that at this meeting it was agreed to end the arms embargo against Iran if Iran would release its hostages after the election. While Bush's presence at this meeting has been denied by the House committee investigating the October Surprise, Bush's whereabouts at this critical time remain in doubt. The White House, in fact, has leaked conflicting stories. Rep. Dan Quayle goes on a Florida golfing vacation with seven other men and Paula Parkinson -- an insurance lobbyist who later posed nude for Playboy. Parkinson describes Quayle as a husband on the make, but says she turned him down because she was already having an affair with another congressman. Marilyn Quayle says, "anybody who knows Dan Quayle knows he would rather play golf than have sex." The Reagan-Bush campaign receives stolen copies of Carter's briefing books. Bush's campaign manager, James Baker, forces the dismissal of Bush aide Jennifer Fitzgerald, described in a 1982 Time story as having "much to say about where Bush goes, what he does and whom he sees." Bush continues to pay Fitzgerald out of his own pocket. 1981 Reagan-Bush inaugurated. Hostages released moments before. Shortly thereafter, arms shipments to Iran resume from Israel and America. In July, an Argentinean plane chartered by Israel crashes in Soviet territory. It is found to have made three deliveries of American military supplies to Iran. In a 1991 story in Esquire, Craig Unger quotes Alexander Haig as saying "I have a sneaking suspicion that someone in the White House winked." Says Unger: "This secret and illegal sale of military equipment continued for years afterwards." James Baker named Reagan's chief of staff. SEC filings for Zapata Oil for 1960-66 are found to have been "inadvertently destroyed." Reagan authorizes CIA assistance to Contras. 1982 CIA director William Casey begins Operation Black Eagle to expand US role in Central America. Urges use of "selected Latin American and European governments, organizations and individuals" in the project. Inslaw, a computer software company, signs a $10 million contract to install a case-tracking program in 94 US Attorney's offices. Four months later, after obtaining a copy of Inslaw's proprietary version of the program, the government cancels the contract and begins an aggressive campaign to force the company into bankruptcy. Later sources claim that the program was installed by the CIA and sold to various foreign intelligence agencies. After $3 million is poured into Arbusto with little oil and no profits, just tax shelter George W. Bush changes the company name to Bush Exploration Oil Co. Subsequently he is kept afloat by an investment from Philip Uzielli, a Princeton friend of James Baker III. For the sum of $1 million, Uzielli bought 10% of the company at a time in 1982 when the entire enterprise was valued at less than $400,000. Subsequently, to save the company George W. Bush merges with Spectrum 7, a small oil firm owned by William DeWitt and Mercer Reynolds. DeWitt had graduated from Yale a few years earlier than Bush and was the son of the former owner of the Cincinnati Reds. Bush becomes president of Spectrum 7. He also gets 14% of the Spectrum's stock. Meanwhile, 50 original investors in Arbusto get paid off at about 20 cents on the dollar. 1983 Noriega meets again with George Bush. Bush presents an autographed photo to a WWII Ukrainian leader under the Nazis, whose regime killed 100,000 Jews. KAL 007 crashes under circumstances that remain suspicious to this day. Bush promotes Jennifer Fitzgerald from appointments secretary to executive assistant. Seven staffers resign in protest. Fitzgerald tells the New York Post: "Everyone keeps painting me as this old ogre. I really don't worry about it. All these bizarre things just simply aren't true." Neil Bush forms his first oil company. He puts in $100, his partners contribute $160,000 and Neil is named president of the firm, JNB Exploration. Jeb Bush's business partner, Alberto Duque, goes bankrupt, is eventually convicted of fraud and is sentenced to 15 years in prison. 1984 Jeb Bush lobbies the Department of Health & Human Services on behalf of Cuban--American businessman Miguel Recarey, Jr., whose medical firm later collapses. Recarey, who was close to mobster Santos Trafficante, later disappears with at least $12 million in federal funds. George Bush takes part in meetings to plan increased "third country" aid to the Contras.. CIA mines Nicaraguan harbors. 1985 Jennifer Fitzgerald is sent to work on Capitol Hill after stories arise linking her romantically with George Bush. Stuart Spencer's public relation firm starts receiving over $350,000 from Panama to improve Noriega's image. CIA starts using BCCI as a conduit. George Bush thanks Oliver North for "dedication and tireless work with the hostage thing, with Central America." Bush will later deny knowing about the Contra effort until late 1986. Neil Bush joins the board of Silverado S&L, serves until 1988. Silverado loans his partners in JNB $132 million which they never repay. Silverado will eventually collapse at a taxpayer cost of $1 billion. 408 TOW anti-tank missiles are shipped from Israel to Iran. A day later, US hostage Benjamin Weir is released. 1986 VP Bush goes to Honduras to promote support for the Contras. Takes along baseball players Nolan Ryan and Gary Carter. Contra figure Felix Rodriguez meets with Donald Gregg, Bush's national security advisor, to complain about Iran-Contra operatives skimming funds from the Contras. Bush may have made several secret visits to Damascus between 1986-88 according to a 1992 report in Time, which said two senior GOP senators were pressing for a probe. The allegation is that Bush went to negotiate the release of hostages in Lebanon but in fact stonewalled Syria, "playing for campaign timing. Republicans want to get to the bottom of intelligence-community suspicions that the US somehow blew a chance to free Terry Anderson and his fellow captives." Iranian arms runner Manucher Ghorbanifar proposes "diversion" of profits from Iran arms sales to Contras. George W. Bush and partners receive more than $2 million of Harken Energy stock in exchange for a failing oil well operation, which had lost $400,000 in the prior six months. After Bush joined Harken, the largest stock position and a seat on its board were acquired by Harvard Management Company. The Harken board gave Bush $600,000 worth of the company's publicly traded stock, plus a seat on the board plus a consultancy that paid him up to $120,000 a year. When Harken runs short of cash it hooks up with investment banker Jackson Stephens of Little Rock, Arkansas, who arranges a $25 million stock purchase by Union Bank of Switzerland. Sheik Abdullah Bakhsh, who joins the board as a part of the deal, is connected to the infamous BCCI. 1987 Bush's former chief of staff, Daniel Murphy, flies to Panama with South Korean influence peddler Tongsun Park on a private plane owned by arms dealer Sargis Soghnalian to meet with Noriega. Murphy later tells a Senate subcommittee that he informed Noriega that he need not resign before the 1988 election despite the Reagan administration public pressure to the contrary. Bill Casey dies. Lee Atwater accuses Robert Dole of spreading stories about Bush and Jennifer Fitzgerald. An agreement is worked out, as reported by Sidney Blumenthal in the Washington Post: "The Dole people didn't spread any rumors and promised not to do it again. And the Bush people haven't spread rumors about the Dole people spreading rumors and won't do it again." Harken Energy project gets rescued by aid from the BCCI-connected Union Bank of Switzerland in a deal brokered by Jackson Stephens, later to show up as a key supporter of Bill Clinton. 1988 Dan Quayle is named VP candidate. Stuart Spencer is assigned to improve Dan Quayle's image, the same job he handled for Noriega and Nixon. Quayle embarrasses campaign by such statements as "[The Holocaust] was an obscene period in our nation's history," adding that "I didn't live in this century." Prisoner who claimed he sold marijuana to Quayle is put into solitary confinement by the head of federal prisons, aborting a planned news conference shortly before the election. Silverado S&L goes under after receiving 126 cease & desist orders in past four years from the Topeka office of the Office of Thrift Supervision. These orders found conflict of interests, insider abuse and other violations. Dwight Chapin, ex-Nixon dirty trickster, gets job in Bush campaign. Rudi Slavoff becomes head of Bulgarians for Bush. In 1983, Slavoff organized an event honoring Austin App, promoter of the theory that the Holocaust was a hoax. Slavoff joins other GOP ethnic leaders in the Coalition of American Nationalities co-chaired by Edward Derwinski. Among them is a former member of an Hungarian pro-Nazi party. After press revelations, eight of the leaders accused of anti-semitism resign from the campaign. Bush says: "Nobody's giving in... These people left of their own account." GOP flier warns that "all the murderers, rapists and drug pushers and child molesters in Massachusetts vote for Michael Dukakis." Bush establishes Team 100, which will eventually grow to 249 individuals who contribute nearly $25 million in soft money to help the GOP cause. The contributions also apparently help the contributors, various of whom get ambassadorial appointments, legislative favors, and intervention on regulatory and criminal matters. Bush denies knowledge of Noriega's involvement in drug dealing. The Willie Horton ad is aired. Credit for similar tactics is given to campaign guru Lee Atwater, whose PR firm had represented drug-connected Bahamian prime minister Oscar Pinding and the Philippines' Marcos. Atwater himself had represented UNITA, the CIA-backed Africa rebel group. Fred Malek, ex-Nixon aide, resigns from the Bush campaign after it's revealed that he compiled a list of Jews in the Labor Dept. as part of a Nixon investigation of a "Jewish cabal." A few days before the supposedly surprise arrest of five BCCI officials, some of the world's most powerful drug dealers quietly withdraw millions of dollars from the bank. Some government investigators believe the dealers were tipped off by sources within the Bush administration. Although Felix Rodriguez, former leading cop under Batista, claims he left the CIA in 1976, Rolling Stone reports that he is still going to CIA headquarters monthly to receive assignments and get his bulletproof Cadillac serviced. Bankruptcy judge George Bason Jr. concludes that the government stole Inslaw's software through "trickery, fraud and deceit." Stock market drops 43 points on false rumor that Washington Post was about the publish the Bush-Fitzgerald story. 1989 Bush inaugurated. Aides tell the press that the new administration would rather "stay one step behind than be one step ahead." Bush authorizes CIA support to Noriega's opposition, giving Noriega an excuse to annul Panama's elections. Bush claims executive privilege to avoid testifying in the Oliver North trial, thus becoming first president to use this power to keep his acts as vice president under wraps. Dan Quayle declares changes in Soviet Union "just a public relations extravaganza." Bush brother Prescott flies to Shanghai after the Tiananmen Square massacre to close a deal for an $18 million resort there, despite his brother's ban on high-level Chinese contacts. Prescott says, "We aren't a bunch of carrion birds coming in to pick the carcass. But there are big opportunities in China, and America can't afford to be shut out." Prescott Bush also visits Japan, searching for consulting contracts just ten days before his brother arrives on a presidential tour. The Japanese firm that paid Prescott a quarter-million dollar consulting fee comes under investigation for exchange law violations and links to the Japanese mob. C. Boyden Gray, the president's top ethics official, corrects his 1985 and 1986 financial disclosure forms. He forgot to include $98,000 in income. George Bush signs the S&L bailout bill promising that "these problems will never happen again." The Chicago Tribune reports: "After 14 fishing outings, the President has failed to catch a single fish." At White House behest, the DEA lures drug dealer to Lafayette Park to make arrest in front of presidential home for the benefit of Bush's upcoming drug speech. At first, drug dealer is dubious, asks DEA agent, "Where the fuck is the White House?" Defense secretary nominee John Tower runs into confirmation troubles when it is revealed that he has received hundreds of thousands of dollars in consulting fees from defense contractors. Runs into more trouble with revelations of womanizing and drinking. His nomination is rejected. The sale of three communications satellites to China is announced. Prescott Bush is a $250,000 consultant in the deal. GOP memo is leaked implying that House Speaker Tom Foley is a homosexual. President Bush signs a top-secret directive ordering closer ties with Iraq, which opens the way for $1 billion in new aid just a little more than a year before Bush goes to war against that country. The agricultural credit allows Saddam Hussein to use his hard currency for a massive military buildup. A second judge concurs that the government stole Inslaw's software. The Statistical Abstract of the United States, published by the US government, reports that the GNP of East Germany during the 1980s was greater than that of West Germany. The figures come from the CIA. Bahrain officials suddenly break off offshore drilling negotiations with Amoco and decide to deal with Harken Energy, George Bush Jr.'s firm. Harken has had a series of failed ventures and no cash, so the Bass brothers are brought in to finance Harken's efforts at a cost of $50 million. Neil Bush bails out of JNB Exploration, the firm where he became president with a $100 ante, leaving his partners to worry about its debt. Days earlier he forms Apex Energy with a personal investment of $3000. The rest of the money -- $2.7 million -- comes from an SBA program designed to help "high risk start-up companies." Like JNB, it proves to be just that. Apex will later go belly-up with no assets. Two months after his father's inauguration, George W. Bush announces that he and a syndicate of investors have purchased the Texas Rangers. The investors are Edward "Rusty" Rose, Richard Rainwater, Bill DeWitt, Roland Betts (a former Yale frat brother) and Tom Bernstein (Bett's partner in a film investment concern). While Bush appears to lead the group, Rainwater makes clear that Rose is to control how the business is run. Bush's stake in the $86 million deal is 2%, financed with a $500,000 loan from a Midland Bank of which he had been a director and $106,000 from other sources. Rainwater and Rose put up 14.2 million, Betts and Bernstein invested about $6 million and the balance comes from smaller investors and loans. Bush will eventually sell his share for $15 million. 1990 Federal regulators give Bush son Neil the mildest possible penalty in the $1 billion failure of the Silverado S&L. The deal is so good that Bush drops his appeal. Among other things, Neil, as a Silverado director, voted to approve over $100 million in loans to his business partners. January: Bahrain awards exclusive offshore drilling rights to Harken Oil. This is a surprise as Harken is in very shaky financial condition, has never drilled outside of Texas, Louisiana and Oklahoma and had never drilled undersea at all. The Bass brothers are brought in by Harken for sufficient equity to proceed with the effort. Harken's stock price increases from $4.50 to $5.50. George W. Bush sells two-thirds of his Harken Energy stock at the top of the market for $850,000, a 200% profit, but makes no report to the SEC until March 1991. Bush Jr. says later the SEC misplaced the report. An SEC representative responds: "nobody ever found the 'lost' filing." One week after Bush's sale, Harken reports an earnings plunge. Harken stock falls more than 60%. Bush uses most of the proceeds to pay off the bank loan he had taken a year earlier to finance his portion of the Texas Rangers deal. August: Saddam Hussein invades Kuwait. Harken's stock price drops substantially. Two months after Bush sells his stock, Harken posts losses for the 2nd quarter of well over $20 million and is shares fall another 24 %, by year end Harken is trading at $1.25. Bush has insisted that he did not know about the firm's mounting losses and that his stock sell-off was approved by Harken's general counsel. George W. Bush is asked by Carlyle Group to serve on the board of directors of Caterair, one of the nation's largest airline catering services which it had acquired in 1989. The offer is arranged by Fred Malek, long time Bush associate who is then an advisor to Carlyle. October: Arlington, Texas Mayor Richard Greene signs a contract that guarantees $135 million toward the new Texas Ranger Stadium's estimate price of $190 million. The Rangers put up no cash but finance their share through a ticket surcharge. From the team's operating revenues, the city will earn a maximum of $5 million annually in rent, no matter how much the Rangers reap from ticket sales and television (a sum that will rise to $100 million a year). Another provision permitts the franchise to buy the stadium after the accumulated rental payments reached a mere $ 60 million. The property acquired so cheaply by the Rangers includes not just a fancy new stadium with a seating capacity of 49,000 but an additional 270 acres of newly valuable land. Legislation is passed and signed that authorizes the Arlington Sports Facilities Development Authority with power to issue bonds and exercise eminent domain over any obstinate landowners. Never before had a Texas municipal authority been given the license to seize the property of a private citizen for the benefit of other private citizens. A recalcitrant Arlington family refuses to sell a 13 acre parcel near the stadium site for half its appraised value. The jury awards more than $4 million to the family. Fred Malek returns to power with ambassador status to head up planning for the economic summit. S&L industry is losing money at the rate of $3 million a minute. Bailout chief estimates total cost at $325-500 billion. Some 200 young soccer players have their games canceled for security reasons because Bush wants to go fishing on the Potomac nearby. Says one seven-year-old player: "We had a tough soccer game and he's just going fishing. He could play somewhere else." Bush son Jeb gets the federal government to pay off the $4 million he owed to a failed Florida thrift. Bush brother Jonathan's east coast brokerage fined in two states for violating laws and Jonathan is barred from public trading in Massachusetts. Bush's attorney general, Richard Thornberg, is warned about BCCI but does nothing. Federal court of appeals throws out the Inslaw case on the grounds that it did not belong in bankruptcy court. Bush says, "The economy is headed in the right direction." 1991 Former top aide to White House Chief of Staff John Sununu goes to work for a prominent figure in the BCCI scandal less than a month after leaving the Bush administration. Edward Rogers Jr. signs a $600,000 contract to give legal advice to Sheik Kamal Adham, an ex-Saudi intelligence officer who is being investigated for his role in BCCI's takeover of First American Bancshares. The Miami acting US Attorney is allegedly rebuffed by the Justice Department in his efforts to indict BCCI and some of its principal officers on tax fraud charges. Justice Department later denies this occurred. Danny Casolaro, a reporter investigating the Inslaw story, is found dead in a motel room bathtub, the day after he met a key source. The death was ruled a suicide. Perhaps he is despondent over the loss of his briefcase, which is missing from the room. George Bush spends three nights in a Houston hotel so he can claim Texas residency. Texas has no income tax. Neil Bush bails out of Apex Energy after collecting $320,000 in salary plus expenses. Bill Daniels, cable-TV magnate who has been lobbying against regulation of the cable industry, offers Neil a job. According to a representative, he "thought Neil deserved a second chance." 1992 New York Times reports that three of Bush's top fundraisers are being sued in connection with bank failures and another pleaded guilty to mail fraud in connection with an S&L. These men include the GOP national finance chair, vice chair and two co-chairs of the President's Dinner, which raised $9 million for Republican causes. Former US Attorney General Elliot Richardson, representing the owners of Inslaw, tells Mother Jones, "I don't know any case where the government has stonewalled like this." First of Harken Energy's wells off Bahrain comes up dry. George W. Bush takes a leave of absence from the firm to work in his father's campaign, saying "I don't want to involve this company in any kind of allegations of conflicts or whatever may arise." Village Voice reports that President Bush has taken at least 76 partisan flights during his term, at a cost to the taxpayers of over $6 million. Nixon's Jew hunter Fred Malek is back as Bush's campaign manager. Campaign sells photo opportunities with the president at a fundraiser for $92,000 each. Washington, DC, loses $52,000 in taxes because Bush claims to be a Texas resident. Donald H. Alexander contributes $100,000 to Team 100; shortly thereafter he's named ambassador to the Netherlands. Bush says: "I will do what I have to do to be reelected." 1993 With the new Ranger stadium being readied to open the following spring, George W. Bush announces that he would be running for governor. He is says his campaign theme will be self-reliance and personal responsibility rather than dependence on government. 1994 George W. Bush is elected Governor of Texas, defeating Ann Richards 53 to 46 %. 1999 George W. Bush executes his 99th prisoner. George W. Bush celebrates the Martin Luther King holiday by staying inside the Governor's Mansion with the windows closed so he wouldn't hear the thousands of Martin Luther King celebrants listening to speeches right outside his window on the Texas capitol grounds [across the street]. Bush claims to be reading four serious books while campaigning for president. Total pages of the four books: 1,762 * "When I was coming up, it was a dangerous world and you knew exactly who they were. It was us versus them and it was clear who them was. Today we are not so sure who the they are, but we know they're there." -- Texas Gov. George W. Bush, presidential candidate. * "Food on the family." -- George W. Bush listing one of the priorities of his future administration. * "This is Preservation month. I appreciate preservation. This is what you do when you run for president. You've got to preserve." -- George W. Bush to several hundred children at an elementary school in Nashua that was celebrating what it called Perseverance Month (not Preservation Month). * "Is your children learning?" -- George W. Bush on education. * "Some people have too much freedom." -- George W. Bush * "The Grecians." -- George W. Bush on Greek people. * "What I'm against is quotas. I'm against hard quotas, quotas that basically delineate based upon whatever. However they delineate, quotas, I think, vulcanize society." -- George W. Bush, meaning to say "balkanize," not "vulcanize" -- we think -- and something about quotas (Austin American-Statesman 3/23/99). * "Sitting down and reading a 500-page book on public policy or philosophy or something." -- George W. Bush when asked to name something he isn't good at (Talk magazine, September 1999). * "Please! Don't kill me." -- George W. Bush to Larry King, mocking what Karla Faye Tucker said when asked "What would you say to Governor Bush?" prior to her execution by lethal injection (as reported by Talk magazine, September 1999). * "Tell them I have learned from mistakes I may or may not have made." -- George W. Bush 2000 "Jeb's the smart one" -- George Bush Sr. to dinner partner Former President George Bush tries to block Gen. Manuel Noriega's release from a US prison because he fears the Panamanian strongman wants to kill him. Noriega attorney Frank Rubino says the assertion was made by Assistant US Attorney Pat Sullivan, who represented the government at a parole hearing for Noriega. Copyright 2000 The Progressive Review Also,'Sam Smith's Great American Political Repair Manual' is published by WW Norton. 2000 (continued) Al Gore gets more popular votes than George W. Bush in the November presidential elections, but a winner is unable to be declared because the outcome depends upon a state of Florida recount that must made, according to Florida law, since the eventual winner will have a majority of less than 1% of the vote. Many of the counties do not do a recount, but simply re-report their first results. Other counties decide to accept late overseas ballots, contrary to Florida law. Bush enlists James Baker to oversee his post-campaign Florida campaign. Although Jeb, as Florida governor, recuses himself from official state participation in the recount, phone records later made public lead observers to question that statement. The Florida Supreme Court directs that the entire state must physically recount all of the votes, but the U.S. Supreme Court overrules, declaring George W. Bush the victor in order to protect our tradition of the smooth transition of power. The vote was 5-4. Although the court ruled that the decision could never be used as precedent in any future legal case, it was determined that allowing the State of Florida to recount its votes, even though it is legally required to do so, would not be in the best interest of George W. Bush's presidential aspirations. On the basis of the Supreme Court's decision, Bush was declared the victor in Florida, thus winning the majority of electoral votes and thus being elected the nation's 43rd president. 2001 Bush is sworn in as president and Dick Cheney, Sec. of Defense under Poppy, is sworn in as vice-president. Numerous key members of the Regan-Bush and Bush-Quayle administrations, including those who left under a Contra cloud, are brought back into the new administration. With Bush as front man and Cheney as the brains behind the throne, Bush begins to consolidate power with fast-track plans to weaken government regulations of corporations, begin drilling on previously out of bounds environmentally fragile sites, place greater world trade powers in the White House, establish formal governmental funding of religions, allow greater civil rights discrimination in the name of freedom, shift more of the nation's wealth away from the middle class and into the hands of the wealthy through changes in the tax laws, further establish military dominance in the world and in space through missile defense, and weaken international compacts protecting the environment and controlling small arms. 79 year old Andrew Marshall, a colleague of Herman "Dr. Strangelove" Kahn at the Rand think tank in the 50's appointed head of the Pentagon's Office of Net Assessment and major speechwriter of Bush's Missle Defense System speeches. Taking a cue from the Bush Administration, Japan deals with Iran to provide oil field studies, indicating that the Clinton Sanctions Act will no longer be enforced against Iran. 2000-2001 Updates by Politex
How do you slove this economics question? This is a national income data Exports: $15 Net investment: 18 Personal savings: 20 Net exports: 5 Net National income: 290 Direct (personal income) taxes: 30 Gross investment:46 Disposable income: 250 Net investment income from non residents:-7 Undistributed corporation profits: 20 Net income of non-farm unincorporated business: 37 Indirect taxes (less subsidies):40 What is the Personal Income?
NEED HELP! offshore tax havens, income tax, company registration..? Hello, Starting two online based businesses. Not selling hard goods or storing products. Revenue sources will be affiliate marketing and downloadable products (exercise programs, eBooks etc.) I was advised to incorporate offshore since I technically don't have a business "presence" in a specific location. The main reason is for liability protection. If I incorporate offshore but I remain a "resident" of Canada, am I taxed on only my personal income (salary i pay myself) as the corporation is viewed as a seperate entity? Locally based businesses are required to pay corporation taxes but Canada has no jurisdiction in those offshore locations (Nevis, Panama, Cayman Islands). Note: I don't plan on maintaining my Canadian "residency" for long as I will be travelling all over the world with no sure plan to return. I have no ties here (real estate, kids, wife, businesses etc.) Any information would be great. Thanks in advance.
Non-resident from Spain owning a LLC in Delaware. Where to pay tax? My LLC is taxed as a "pass through" organization. It ONLY sells Internet services (I think this is not considered as making business IN the US?). I think I have to pay the 200$ anual tax in Delaware and tax over the income in my own country (Spain) as "personal income". Is that right or I am missing something? I need a LLC beacuse I need to process credit cards with Google Checkout for the Internet services I provide, so I need an US (or UK) bank account. So I opted to create a LLC and have a US bank account for that LLC.
HOW DO YOU YOu SOLVE THIS ECONOMICS GDP QUESTION? This is a national income data Exports: $15 Net investment: 18 Personal savings: 20 Net exports: 5 Net National income: 290 Direct (personal income) taxes: 30 Gross investment:46 Disposable income: 250 Net investment income from non residents:-7 Undistributed corporation profits: 20 Net income of non-farm unincorporated business: 37 Indirect taxes (less subsidies):40 What is the GDP?
standard deduction and personal exemption.? if my son, now 15, has a income of 10,000,and filing his own tax return, how does it have impact on my tax return?-can i claim him, if he opt not to claim on his tax return? would i be eligible to claim child tax credit? if i am an illinois resident, how it affects on my state return? how much amt he would be paying state tax on?
Tax return for Thai student? I hired Rhodes-Murphy to do Tax-refund form for me because I had worked in University of Wisconsin as a student who worked for part time job before I worked in here as RA.My visa is F1. I got 1042s form from UW because my salary is not enough to pay tax. So, the Rhodes fill the exemption for $4909(combine $ 1909 of UW+$3000 of georgia. However, according to Thailand treaty article 22 (1) , I can get exemption only $ 3000. So , I was wondering whether the company use 22(1) or 22(3) to claim my exemption. Whether they did the wrong report?If yes, how could I fill in $1909 into 1040NR?; I don't know where to put it. This is the treaty from my country: ARTICLE 22 Students and Trainees 1. a) An individual who is a resident of one of the Contracting States at the time he becomes temporarily present in the other Contracting State and who is temporarily present in that other Contracting State for the primary purpose of: i) studying at a university or other recognized educational institution in that other Contracting State; ii) securing training required to qualify him to practice a profession or professional specialty; or iii) studying or doing research as a recipient of a grant, allowance, or award from a government, religious, charitable, scientific, literary, or educational organization, shall be exempt from tax by that other Contracting State with respect to amounts described in subparagraph (b) for a period not exceeding five taxable years from the date of his arrival in that other Contracting State. b) The amounts referred to in subparagraph (a) are: i) gifts from abroad for the purpose of his maintenance, education, study, research, or training; ii) the grant, allowance, or award; and iii) income from personal services performed in that other Contracting State in an amount not in excess of 3,000 United States dollars or its equivalent in Thai currency for any taxable year. 2. An individual who is a resident of one of the Contracting States at the time he becomes temporarily present in the other Contracting State and who is temporarily present in that other Contracting State as an employee of, or under contract with, a resident of the first-mentioned Contracting State, for the primary purpose of: a) acquiring technical, professional, or business experience from a person other than that resident of the first-mentioned Contracting State or other than a person related to such resident; or b) studying at a university or other recognized educational institution in that other Contracting State, shall be exempt from tax by that other Contracting State for a period not exceeding 12 consecutive months with respect to his income from personal services in an aggregate amount not in excess of 7,500 United States dollars or its equivalent in Thai currency for any taxable year, not including expenses reimbursed to him or borne on his behalf. 3. An individual who is a resident of one of the Contracting States at the time he becomes temporarily present in the other Contracting State and who is temporarily present in that other Contracting State for a period not exceeding one year, as a participant in a program sponsored by the Government of that other Contracting State, for the primary purpose of training, research, or study, shall be exempt from tax by that other Contracting State with respect to his income from personal services in respect of such training, research, or study performed in that other Contracting State in an aggregate amount not in excess of 10,000 United States dollars or its equivalent in Thai currency in any taxable year, not including expenses reimbursed to him or borne on his behalf. 4. The benefits provided under Article 23 (Teachers) and paragraph 1 of this Article shall, when taken together, extend only for such period of time, not to exceed 5 taxable years from the date of arrival of the individual claiming such benefits, as may reasonably or customarily be required to effectuate the purpose of the visit. The benefits provided under Article 23 (Teachers) shall not be available to an individual if, during the immediately preceding period, such individual enjoyed the benefits of paragraph 1 of this Article. Thank You very much.
how do about an income tax for Suffolk county,n.y. residents? our property taxes,which includes school taxes, are obscene. i propose 2 possible plans: 1) charge an income tax on all residents,with the amount paid (no personal exemptions) taken off property taxes.(ie:$1000of income tax comes off total property tax bill) or 2) renters must pay for their kids education show lease. both of above must show w-2 and or docs to prove renting or ownership. free education does not mean that those who own must foot the bill for the entire county. in nyc the income tax supplements public education and property taxes are a fraction of ours. by the way i own and i was for this plan when i rented also.
AVOID income and corporation tax? I live and work in the U.K and i have an LLC in Delaware The reason for creating the LLC in the U.K is to avoid paying corporation tax, Delaware has no sale tax and because online business services are tax free (we have an online business). Now that doesnt mean that i avoid income tax ..hmm our business bank accounts is in Germany we have personal bank accounts in the U.K and portugal.. As I understand it and correct me if i am wrong. I only need to pay income tax for the country that i am working in( i already do for my full time job in the uk) .. so if i transfer money from my business bank account in Germany to my personal uk account i have to declare this money and pay income tax for them ... What happens if i deposit this money to my account in Portugal (not resident of this country ) and then withdraw them form portugal.. i guess i don't have to pay income tax to the uk .. is that correct ?
Do I get taxed when transfering funds over seas? My situation is, I borrowed 10,000 dollars from the bank to lend my friend over seas. So I transfered the borrowed funds overseas into his account. Now that he has repaid me by sending the 10,000 dollars back into my account. Will I get taxed on the 10,000 dollars that is coming into my account as personal income? By the way I am living in Australia and am an Australian resident.
I have no idea how to calculate the GNP ....? How do I figure out the GNP: if Transfer payments 50 Wages 80 Profits 200 Investment income from non residents 4 Government purchases 200 Imports 250 Investment income to non residents 5 Saving 300 Exports 300 Gross private investment 250 Personal income taxes 200 Personal consumption expenditures 60 22 minutes ago - 3 days left to answer.
What is the Australian Tax Implication? I asked this previously but did not get the full answer. I am especially interested in whether I need to declare the interest income from the controlled monies account in my 07/08 return or do I declare it in 08/09 after I received it? Here goes..... I split with my wife some time ago and we are awaiting the courts to rubber stamp the property settlement. Meanwhile we sold our house and have a sum of funds sitting in a controlled monies account in trust for the two of us. The funds are earning interest credited into the trust each month and will still be there at the end of the 30 June 2008. What are the tax implications on the interest that is being credited to the account? Will I have to include it as income in my personal income tax return for 07/08 and if so will I have to declare a 50% share even though I will only receive 40% of the interest per the property settlement? I am an Australian resident for tax.
What is the Australian Tax implication? I split with my wife some time ago and we are awaiting the courts to rubber stamp the property settlement. Meanwhile we sold our house and have a sum of funds sitting in a controlled monies account in trust for the two of us. The funds are earning interest credited into the trust each month and will still be there at the end of the 30 June 2008. What are the tax implications on the interest that is being credited to the account? Will I have to include it as income in my personal income tax return for 07/08 and if so will I have to declare a 50% share even though I will only receive 40% of the interest per the property settlement? I am an Australian resident for tax. I appreciate all answers but please only respond if you know the answer or have a link to a source that can give me the answer.
tax deductions for non-residents? I am a non-resident who worked in the USA for three consecutive years for 4 months. After filing for a tax return after my last year (2006) I found out that my tax preparer has filed for $0 taxable income ($6100 gross income) and therefore I got 100% of the taxes paid as a refund. I know that non-residents are not entitled to all of the tax exemptions and deductions as US citizens and residents are and were very surprised. I thought that my tax preparer could be incorrectly filed for me as a resident, until I found out that: The Green Card Test - You are considered a U.S. resident for tax purposes beginning on the day you are issued an alien registration card by the Immigration and Naturalization Service (INS). Use Form 1040: U.S. Individual Income Tax Return to prepare and file your taxes. The Substantial Presence Test - You are considered a U.S. resident for tax purposes if you were physically present in the U.S. for at least: 31 days of the current year, and 183 days of the three-year period that includes the current year and the two years immediately preceding, including: - all of the days you were present in the current year (2006) - 1/3 of the days you were present in the first preceding year (2005) - 1/6 of the days you were present in the second preceding year (2004) Does this mean that every non-resident, who has stayed for more than 31 days in the USA during any calendar year, could be considered as a resident for tax purposes and therefore could take advantage of all exemptions and deductions, which residents and citizens are entitled to? Are non-residents generally entitled to itemized standard deductions and personal exemption deductions?
Calculate: Gross private investment/domestic product/national product, Net national product/national income? I really need help with this! Transfer payments: 50 Subsidies 5 Social insurance payments: 35 Depreciation: 50 Investment income from non-residents: 4 Government purchases: 75 Imports: 50 Investment income to non-residents: 5 Indirect taxes: 20 Exports: 60 Net private investment: 100 Personal taxes: 60 Corporate profits: 45 Personal comsumption expenditures: 250 Dividends: 4 Anyway, if you can help, it would be greatly appreciated! Thank you.
tax for thai student? Your Open QuestionShow me another » Tax refund form for Thai student who worked in 2 state with in 1 year.? I am student fromThailand. I hired Rhodes-Murphy to do Tax-refund form for me because I had worked in University of Wisconsin as a student who worked for part time job before I worked in here as RA.My visa is F1. I got 1042s form from UW because my salary is not enough to pay tax. So, the Rhodes fill the exemption for $4909(combine $ 1909 of UW+$3000 of georgia. However, according to Thailand treaty article 22 (1) , I can get exemption only $ 3000. So , I was wondering whether the company use 22(1) or 22(3) to claim my exemption. Whether they did the wrong report?If yes, how could I fill in $1909 into 1040NR?; I don't know where to put it. This is the treaty from my country: ARTICLE 22 Students and Trainees 1. a) An individual who is a resident of one of the Contracting States at the time he becomes temporarily present in the other Contracting State and who is temporarily present in that other Contracting State for the primary purpose of: i) studying at a university or other recognized educational institution in that other Contracting State; ii) securing training required to qualify him to practice a profession or professional specialty; or iii) studying or doing research as a recipient of a grant, allowance, or award from a government, religious, charitable, scientific, literary, or educational organization, shall be exempt from tax by that other Contracting State with respect to amounts described in subparagraph (b) for a period not exceeding five taxable years from the date of his arrival in that other Contracting State. b) The amounts referred to in subparagraph (a) are: i) gifts from abroad for the purpose of his maintenance, education, study, research, or training; ii) the grant, allowance, or award; and iii) income from personal services performed in that other Contracting State in an amount not in excess of 3,000 United States dollars or its equivalent in Thai currency for any taxable year. 2. An individual who is a resident of one of the Contracting States at the time he becomes temporarily present in the other Contracting State and who is temporarily present in that other Contracting State as an employee of, or under contract with, a resident of the first-mentioned Contracting State, for the primary purpose of: a) acquiring technical, professional, or business experience from a person other than that resident of the first-mentioned Contracting State or other than a person related to such resident; or b) studying at a university or other recognized educational institution in that other Contracting State, shall be exempt from tax by that other Contracting State for a period not exceeding 12 consecutive months with respect to his income from personal services in an aggregate amount not in excess of 7,500 United States dollars or its equivalent in Thai currency for any taxable year, not including expenses reimbursed to him or borne on his behalf. 3. An individual who is a resident of one of the Contracting States at the time he becomes temporarily present in the other Contracting State and who is temporarily present in that other Contracting State for a period not exceeding one year, as a participant in a program sponsored by the Government of that other Contracting State, for the primary purpose of training, research, or study, shall be exempt from tax by that other Contracting State with respect to his income from personal services in respect of such training, research, or study performed in that other Contracting State in an aggregate amount not in excess of 10,000 United States dollars or its equivalent in Thai currency in any taxable year, not including expenses reimbursed to him or borne on his behalf. 4. The benefits provided under Article 23 (Teachers) and paragraph 1 of this Article shall, when taken together, extend only for such period of time, not to exceed 5 taxable years from the date of arrival of the individual claiming such benefits, as may reasonably or customarily be required to effectuate the purpose of the visit. The benefits provided under Article 23 (Teachers) shall not be available to an individual if, during the immediately preceding period, such individual enjoyed the benefits of paragraph 1 of this Article. Thank You very much. Sincerely, Jutamas
Where is my primary residence, for Income Tax purposes? I am an independent filmmaker and have made movies in both Texas and Los Angeles, as a Texas resident. Last year my wife and I decided to try to fulfill our dream of being able to work and live in California full time. The plan was that I go out and see if I could find enough work to sustain both of us; if that worked out I would then look for permanent housing. Last March, my wife and I moved out of our Texas apartment and she moved into her parent's home in the same Texas city. The same month (March) we moved all of our personal belongings to storage and I flew to California and stayed with my grandmother. In April, we filed a joint return with her parent's Texas address. By mid-May it was obvious we could make the move and she began her job hunting. She landed a job and moved to California in June. I moved into an apartment in Los Angeles on June 1. When did my date of California residency begin? I assume it to be after I signed my Form-1040 on 4/18/2007 in Texas. Very confusing!
I am looking for personal tax advice for US/Canada. What do you do when you live in both places? I am a US citizen, with a house in the US, who married a Canadian citizen (Quebec) last year. I spend about half my time in Montreal and the rest in the States, or traveling for business. I am working freelance consulting for firms based in the US, but can work remotely from Canada. I am paid at my US address. I applied for and just received a permanent resident card for Canada. Do I have to file a Canadian tax return? So far, I have no income in Canada. I do pay taxes in the US. Are there any restrictions for companies paying me in the States? Does it matter how much time I spend in either country? I would like, of course, to minimize my tax burden and avoid paying taxes twice. If I have a permanent resident card in Canada (received Oct. 2007), can I still claim that US is my home base ?(it is where my house is and where I styaed most of the year). Do the number of days spent in each country make a difference?
calculating child tax credits from non residents income? I've been onto the CSA website which has a online calculator to see how much maintenance to pay the mother of your child. Now it say that the child maintenance is worked out by applying four different rates, depending on income. It says that income is money from occupational or personal pension. And then it goes on to say that they use the amount of income left after income tax, national ins and any money paid into pension scheme have all been deducted from your nett pay. im a bit confused !! so is a occupational pension different from the maney you pay every month into your works pension plan, can anyone clarify. thanks in advance for any constructive help..
AVOID income and corporation tax? I live and work in the U.K and i have an LLC in Delaware The reason for creating the LLC in the U.K is to avoid paying corporation tax, Delaware has no sale tax and because online business services are tax free (we have an online business). Now that doesnt mean that i avoid income tax ..hmm our business bank accounts is in Germany we have personal bank accounts in the U.K and portugal.. As I understand it and correct me if i am wrong. I only need to pay income tax for the country that i am working in( i already do for my full time job in the uk) .. so if i transfer money from my business bank account in Germany to my personal uk account i have to declare this money and pay income tax for them ... What happens if i deposit this money to my account in Portugal (not resident of this country ) and then withdraw them form portugal.. i guess i don't have to pay income tax to the uk .. is that correct ?
Taxation in India on earnings outside India? I am a retired engineering consultant who is going to take up a job for one year in a gulf state in the month of October 2006.I understand hat there is no personal income tax levied in that state. As per Indian tax laws I will not qualify as a non-resident for the financial year 2006-07, I will however be a non-resident for the financial year 2007-08.My salary abroad will have components of house rent allowance and transport allowance. I would repatriate the entire savings which may arise from my employment abroad on my return to India. I would like to know how my tax liability would be determined for the financial year 2006-07 as well as 2007-08?. Does the timing of the repatriation have any bearing on the tax liability?
why was i refused personal loan from banks offering best APR ? i am permanent resident for 2 years in uk, continuously fully employed (current employment 7 months) I have at least £1k income after taxes and all costs of living left each month, i wanted to borrow £5000 for 2 years. i have no credit cards, loans, mortgages, children, past problems. i still got an offer from my own bank, but 10% and high early repayment fees (around £250), and its competitors refuse, why ?
If elected will Romney fine and deny tax credits to those without health care insurance ? That's what he did in Massachusetts. The health reform law, signed by former governor Mitt Romney in April 2006, states that the penalty for 2007 would be the loss of an individual's personal income tax exemption. This will cost residents who didn't get coverage $219 when they file their 2007 state income tax return. http://www.boston.com/business/globe/articles/2008/01/01/penalties_to_rise_for_shunning_insurance/ DaisyCake...no mis-quote, read the article...what about retirees who saved their whole lives and are now victimized by this law
Massachusetts requires printed return forms, not filled-in. Their online forms can not be edited or filled out? in Acrobat Reader, unlike the IRS forms. See the forms here: http://www.mass.gov/?pageID=dorterminal&L=7&L0=Home&L1=Individuals+and+Families&L2=Personal+Income+Tax&L3=Forms+%26+Publications&L4=Forms+Index&L5=Forms+by+Year&L6=Income+Tax+Forms+and+Schedules&sid=Ador&b=terminalcontent&f=dor_forms_inctax08_inctax08&csid=Ador#1_nrpy Will filled-in forms be accepted, or do I need to find a workaround? (I can't file electronically because I'm filing as a part-year resident)
What is your personal view on the FairTax? If you are unfamiliar with the FairTax, here is a definition: The FairTax is a bill in the United States Congress for changing tax laws to replace the Internal Revenue Service and all federal income taxes (including Alternative Minimum Tax), payroll taxes (including Social Security and Medicare taxes), corporate taxes, capital gains taxes, gift taxes, and estate taxes with a national retail sales tax, to be levied once at the point of purchase on all new goods and services. The proposal also calls for a monthly tax rebate to households of citizens and legal resident aliens, to "untax" purchases up to the poverty level.
Tax overpayment - Do I owe IRS money? Ok. I made another post earlier about owing the IRS $770 because I was missing 2 out of 6 W2s for 2007. Ok, that's one thing. Fine. Let's put that aside... Now, I just noticed something that is way in the back of my 2007 tax return document, two notices... Mind you they came WITH my 07 tax return doc in 2007 but i never noticed them before cuz I didnt really go through the document like that, I Just assumed everything was fine. Anyways, the notices say: Notice 1 says: "Filing Instructions Form IT-150 - NY Resident Income Tax Return Taxable Year December 31, 2007 Due Date: April 15, 2008 Remittance: None is required. There is a total overpayment of $587, which is to be refunded in its entirety. Signature: You elected to sign your return electronically using the Personal Identification Number (PIN). Sign and date the NY State E-file Signature Authorization. Return it as soon as possible to me in the enclosed envelope. Other: Your return is being filed electronically. Do not mail Form IT-150." Notice 2 says: "Filing Instructions U.S. Individual Income Tax Declaration for an IRS e-file Return with Electronic Filing Personal Identification NUmber Taxable Year Ended December 31, 2007 Due Date: April 15, 2008 Remittance: None is required. There is a total overpayment of $715, which is to be refunded in its entirety. Signature: You elected to sign your return electronically using the Personal Identification Number (PIN). Sign and date the NY State E-file Signature Authorization. Return it as soon as possible to me in the enclosed envelope. Your return is being filed electronically with the IRS and is not required to be mailed. If you mail a paper copy of Form 1040-EZ to the IRS it will delay processing of your return." They're kinda strange cuz its like first they say this amount is due at a certain date then at the end of each one its like they say oh nevermind its already taken care of, no need to mail anything... So maybe I'm reading it the wrong way? Cuz April 15 2008 came and went and the IRS hasnt bugged me about owing those 2 amounts or anything, so......?
why was i refused personal loan from banks with best APR ? i am permanent resident for 2 years in uk, continuously fully employed (current employment 7 months) I have at least £1k income after taxes and all costs of living left each month, i wanted to borrow £5000 for 2 years. i have no credit cards, loans, mortgages, children, past problems. i still got an offer from my own bank, but 10% and high early repayment fees (around £250), and its competitors (APR 6-7%) refuse, why ? what to do ?
W-4/ withholding question? I am a student who is going to work this summer, part time for 4 months. I am estimating that my federal tax will be less than $1000. (Because of the standard deduction and personal exemption). Can I choose to withhold nothing on my W-4s without incurring a penalty? Also I am a resident of Oregon which has a state income tax. If I chose to withhold none (or very little) would I be subject to an underwithholding penalty even though I wouldn't be subject to a federal penalty (because tax was lower than $1000)
Should marijuana be legalized? Really, what is wrong with the so called "drug" ?? Not a damn thing....it's not a drug its an herb and totally %100 all natural.. There are many reasons for having cannabis legalized. One of the many reasons would be how we (the taxpayers) would save billions of dollars a year if drug enforcement was lessened due to the should-be legal drug. As of 1993 on just law enforcement alone of drugs the United States spent 13 billion dollars. If we were to legalize cannabis we would save about 3.3 billion dollars thus reducing the cost of drug enforcement down to around 10 or so billion dollars. I’m sure the average American would prefer those funds and resources diverted to something more important, such as CIA or the FBI. Imagine all the other important crimes ATF (Alcohol, Tobacco and Firearms) could be cracking down on rather then this phony “Drug War.” I’m sure your wondering where I got these figures of the cost of our drug enforcement; I received the information off of the federal financial analysis of legalization that came from Theodore R. Vallance, Former Chief of the Planning Branch of the National Institutes of Mental Health. Just think how much manpower is wasted on frivolous drug crimes. While agents of our many alphabet organizations are chasing down heavy marijuana sellers we divert our time and money on the wrong problems. If this country, the mighty U.S. of A wants to destroy Columbian drug lords and make them powerless strike them were it hurts the most, their income. With marijuana being legal the price of cannabis lowers dramatically and the drug cartels lose all their power due to no money. The only reason why the drug lords are powerful is because of the United States branding it illegal and by doing so made the worth of hemp sky rockets on the black market. By passing legislation to legalize cannabis it would also free up our already overcrowded jail system and save us all on taxpaying. In 1998 the Chicago Tribune researched into how much it costs Illinois taxpayers for the jailing of people convicted of drug crimes related to marijuana. It costs 25,621 dollars to house one criminal for a drug crime per year. Meanwhile the average Illinois resident only pays around 1,170 dollars worth of yearly state personal income tax. That means that it would take you and 20 of your fellow residents to pay for one person serving a jail sentence for a drug crime. Now, if that isn’t ridiculous I don’t know what is. NORML (National Organization for the Reform of Marijuana Laws) reports that in the state of California alone that marijuana accounts for 15,000 felony crimes costing the state 100 million dollars. My fellow Americans, if this is the cost of drug enforcement of marijuana on one state out of 50 just envision how much it is costing our country on the whole.
1099-MISC question on CA income with NV LLC? Trying to save tax....legally? I am a nevada resident and doing consulting work for a CA company this year. I don't have a business license or company. My understanding is if the CA company pays me directly to my personal name, I will need to file schedule c and pay self-employment tax, CA tax on 540NR, and Fed tax. Is it possible to have the CA company pay my sister's LLC (registered in NV), and then have the NV LLC pay me with the same exact amount? I want to know does this create a tax liability for my sister's LLC. Please note her LLC will have $0 profit on this. And two, can I then avoid paying CA income tax (NV has no state tax) since my 1099 comes from a NV corp? What about self-employment tax, can I avoid that? Or shoud I set up a LLC myself in Nevada? Will I be able to save taxes that way? Appreciate any help you can give. Thanks.
Taxes and checking account? Hi! I'm first-year resident in the US and i have a couple of questions about taxes. So, i have checking account in my bank, and the last year 2008 there was deposed about $2k in total (majority with cash, and other with personal checks). But $1.6k was not my actually income - my friend from another country asked me to buy him a couple items on ebay. Do i need pay taxes for it? How can i do it? Do bank provide my information to IRS? So, i have ssn and it typed into my bank account. I'm just wanna to follow US laws. Thank you! Antacid, thank you for your answer, but also i want to be honesty citizen of this country. I don't know all U.S. laws especially in taxes, so i don't know is this income taxable or not, if yes i'll gladly pay what do i need i need to pay.
Tax Questions - What is 0 divided by 0 (not a math quesiton) - Michigan Nonresident Schedule NR? I lived in Michigan all of 2006 (I also got married in 2006) and my wife lived in Michigan only in December (rest of the year she lived outside of this country). In Michigan personal exemption allowance of $3300 is based on Taxable Income instead of time of residency. In the Michigan Tax Schedule NR form Worksheet 7 form (nonresident and part-year resident schedule form) it ask to divide Michigan taxable income of spouse divided by total taxable income of spouse. My spouse has no income so it is 0 divided by 0. Then it asks to multiply that and 3300. So is 0/0 = 0 or 1? So can we take 0 or $3300 allowance. Thanks in advance for your help. Thanks everyone for your fast rely. I think Jo Blo is right. Since their is no other states involved, My wife and I should just file as joint residents of Michigan for full tax year. Top Contributor Judy - I did skip question 15 to 18 and in worksheet 7 on page 43 for question A1, A2 and A3 answer would be 0 divided by 0. Thanks again everyone.
Does this seem "legit "? We Have A Part Time Job For You! DO MED Inc. is a United Kingdom based company selling medical goods. We hav! e reached high sales volume of pharmaceutical products in UK and also, in other European countries and we are now trying to penetrate in the U.S. market. Unfortunately, we are facing new difficulties regarding taxes. The international money transfer tax for legal entities (businesses) in UK is 30%, whereas for the individual, it is only 8%. That's why our company is looking forward to hiring agents to receive payments for our products and to resend the money to us. This way we will save money due to the tax decrease. The new recruitment program has been started recently for we are in need of regional financial managers whose work consists of distributing funds received from our customers and suppliers. You are not required to have any extra knowledge or to be experienced in this business and this occupation can endow additional income to you and your family as it will not require more than few hours per week! . If you are interested in our offer, please feel free to! ask for the general provisions of the contract. Requirements: Adults only Residents of USA Owners of a computer with e-mail access 2-3 hours free time within the work day Owners of a Wells Fargo Personal Checking or Savings Account or willing to open one. JOB DESCRIPTION Agent's work consists in receiving payment from customers (Wells Fargo bank transfer or direct deposit) and making further payments to our main office or to one of our regional affiliate departments, depending on the customer's location. Being a part-time job, it should not take more than 2 hours per day. Agent's commission is 8% from each transaction (for instance: you receive $1500.00 to your bank account, you will withdraw the money and keep 8% as payment for your service). All further money transfer charges and fees are covered by our company. So you will be responsible just for making proper payments in time. Each transaction will be made only after prior notification by phone call or e-mail.
AVOID income and corporation tax? I live and work in the U.K and i have an LLC in Delaware The reason for creating the LLC in the U.K is to avoid paying corporation tax, Delaware has no sale tax and because online business services are tax free (we have an online business). Now that doesnt mean that i avoid income tax ..hmm our business bank accounts is in Germany we have personal bank accounts in the U.K and portugal.. As I understand it and correct me if i am wrong. I only need to pay income tax for the country that i am working in( i already do for my full time job in the uk) .. so if i transfer money from my business bank account in Germany to my personal uk account i have to declare this money and pay income tax for them ... What happens if i deposit this money to my account in Portugal (not resident of this country ) and then withdraw them form portugal.. i guess i don't have to pay income tax to the uk .. is that correct ?
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