User Submitted Tax Questions
Read Questions Asked by Users and the Answers Provided by CPAs.
View All Tax QuestionsState Taxes (Living in one state but employed in another)
Good morning, I recently relocated to Colorado but work remotely for two schools in Texas. One school has asked me to reach out to a tax specialist to try to clarify some tax information. We keep receiving conflicting answers to this question: How will my taxes in Colorado work if my employment is in Texas? The schools are still taking taxes out of my paychecks. Thanks, Jill
Asked onThursday, October 26, 2023 by JillCPAs - Sign in to Answer
W-4 for second part time job
Married filing jointly. We make $108,000 per year. I got a part time second job that makes roughly $10,000 extra per year. What deductions should I have taken out on my W-4?
Asked onWednesday, October 25, 2023 by LeisaCPAs - Sign in to Answer
Equity loan questions
I am looking into a equity loan for $75000. House worth $675000 and owe $170000. Starting valuation would be $478000. Any equity gained over that at end of 30 years would be shared at 25% to them plus original loan amount of $75000. Can I deduct any of this loan yearly on my tax return? Would I have to pay any tax on money I received from loan?
Asked onWednesday, October 25, 2023 by PaulCPAs - Sign in to Answer
Unemployed and did not receive any economic impact payments
Have been unemployed for years and don't file taxes and did not receive any economic impact payments that were sent to just about everyone. How do I go about trying to get them? I feel like I deserve them also.
Asked onTuesday, October 24, 2023 by VickiCPAs - Sign in to Answer
Starting as an independent educator of neonatal cpr classes outside hospital setting.
How to file tax deduction as a new educator for neonatal instructor classes outside hospital setting.
Asked onTuesday, October 24, 2023 by LauraCPAs - Sign in to Answer
Do I charge sales tax for a digital product in Arizona
I'm selling a digital course that is housed in a portal. I'm using Stripe to collect my payment. What happens if I don't collect sales tax during the sale? Not sure if I should charge sales tax and if I do, should I have Stripe collect the tax automatically for a fee of 0.5%. I've never sold a product online before and not sure what is involved and what forms need to be completed with which states. Is it complicated and is that the benefit of having Stripe collect the tax automatically?
Asked onTuesday, October 24, 2023 by SherriCPAs - Sign in to Answer
Form CP2100A - Backup Withholdings Now??
1099 Contractor will receive his residency next month. Company received a CP2100A due to his missing TIN. Should backup withholdings be held immediately if (per his attorney) he will be issued a SSN next month?
Asked onTuesday, October 24, 2023 by EricaCPAs - Sign in to Answer
Car Rental
Hi, the question I have is if I rent a car as a doordash driver, and I use it strickly for dashing, can I write off 100% of what I payed for the rental? And does this mean the tax write off will essentially pay for the car?
Asked onTuesday, October 24, 2023 by JasonCPAs - Sign in to Answer
Forms
Hi, I just started a small business and registered with Santa Clara county for a business tax certificate as well as with the CDTFA for a sellers permit. My small business is a sole prop, part of the year side business and I don't expect to make more than $1000 by the end of the year. Will I need to save up for self employment tax and file quarterly? What about the months I do not make any money? Is it just schedule c and/or do I need another form to itemize expenses? I'm reading a lot of conflicting info online and the small business development center non profit cannot offer tax advice. Any help would be greatly appreciated. Thank you.
Asked onTuesday, October 24, 2023 by ANDREACPAs - Sign in to Answer
Solar tax credits
I am considering installing solar panels for my home. The contractor said I will get a Federal Residential renewable energy tax credit (30%) and an "Illinois shines" credit of $24,800. Do either of these credits have income limits to receive the full credit?
Asked onTuesday, October 24, 2023 by TrentonCPAs - Sign in to Answer