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I am concerned is this legal to run this kind of business from home in NJ without registering in NJ and about tax implications?
Kenneth's answer
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Answered on January 04, 2016
You will need to register with the State tax authorities to collect sales tax for in state sales. A good CPA can help you get this set up. You will...
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Paying taxes from international income as an F1 visa holder
Kenneth's answer
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Answered on December 30, 2015
You should have a tax professional go over the Substantial Presence Test with you. In general, F visa holders do not accrue days of presence in the...
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If I have no taxable income but pay over $50,000 interest per year on my home mortgage, am I qualified to receive a tax refund?
Kenneth's answer
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Answered on December 30, 2015
No, mortgage interest is a deduction and deductions only serve to offset taxes you owe. There would be no refund unless you already paid in taxes....
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Should I still pay US taxes on these dividends?
Regards
Kenneth's answer
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Answered on December 28, 2015
It depends. Is it a US company with operations in Azerbaijan or an Azeri company which is paying dividends from Azerbaijan? Whether you pay tax on...
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Gift tax on down payment of home?
Kenneth's answer
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Answered on December 23, 2015
Depends on the tax residency of your father. If he is a non-resident alien, then the lifetime gift tax exclusion does not apply to him, and he may...
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Does a CDN inheritance to a US permanent resident need to be reported to either CRA or IRS or both for the 2015 tax year?
Kenneth's answer
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Answered on December 23, 2015
If the estate of your father consisted of property and assets outside of the U.S., then there would generally be no filing requirement in the U.S....
Archived
Do I have to claim these on tax returns?
Kenneth's answer
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Answered on December 22, 2015
If you file jointly with your spouse, you include the income on the joint return. If you do not file jointly, it is always a good idea to file a...
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Archived
Questions on new firpta withholding and exemptions
Kenneth's answer
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Answered on December 22, 2015
It is a withholding of 10% of the realized price (generally, sales). You should contact an attorney or CPA for assistance with exemptions and...
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I need to find a tax attorney or agency that can help me.
Kenneth's answer
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Answered on December 21, 2015
Use the "Find a Lawyer" tool in the top right corner of the Avvo website. You can find and contact good attorneys from there.
Archived
Or how to get my 1099 forms
Kenneth's answer
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Answered on December 21, 2015
Whether you can print them online would depend on if your employer has some kind of online portal. In general, 1099 forms are mailed to the address...
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