When I fill out my tax information for a new employer, what do I put for max withholding, to get the biggest possible tax return?
It sounds like you wish to get a large tax return. In that case when filling out your W-4 form you should claim S-0 (that’s single with zero exemptions). This means that your employer will take out the maximum amount. For those people who insist upon the government having use of their money all year there is also an option to have additional funds taken out and held and then returned when your annual return is filed. For that matter you could allow the government to keep it all during the year and then when you file your return instead of taking a refund just tell them to keep it toward next years return. Seriously, I know the large tax return seems nice and for some people that is how they save for vacations and other things, but a tax return is not a gift from the USA. It is your money and receiving a large tax return means that you allowed someone else to have your money for a year without paying you interest for the privilege of keeping your money.
How can I get a form 1098 for a mortgage I have in France to prepare my tax returns?
You will have to order the form from Internal Revenue Service. You can order it here, Online Ordering for Information Returns and Employer Returns. Scroll down to find the form you are looking for. It will probably take awhile to receive it, but while you are waiting you can look over this online form to know what you need to fill it out, Page on irs.gov. You may have to file an extension to include it with your taxes. Be sure to send in an estimated payment (if you think you owe taxes) to the IRS by April 15, 2015 to avoid penalties.The official form is red and scannable, the pdf is not.
My parents owns a rental property. They put the house under my name, but they collect the rent all to themselves. What is the impact of this situation on my tax return and how do I get out?
Obviously you should consult a tax professional if you are concerned. It as I understand it, the home is deeded in your name. If that’s true, you own the home. I am assuming they transferred ownership through a quit claim deed and they have no ownership rights. Since you are not personally in the rental business you have no rental business to report to the IRS if in US. At the same time, you have given permission by default for your parents to use your house as a rental business. They might be filing a business tax return for their rental business. I am guessing that they pay the taxes, insurance and all expenses so they deserve the income. Since they don’t own the home, they likely can’t write off depreciation. Your taxes might get questionable if you try to deduct real estate taxes paid if you didn’t pay them. If all of this bothers you and depending on your relationship to your parents you could transfer ownership back to them via a quit claim deed and pay the required filing fees. There would be a potential liability issue of course to you if you continue as is. You are owner of record and could be sued if someone was hurt or damaged in the home. Not sure if your parents can book insurance since they are not the home owners. Sounds a bit shady.
How do I add or change my Quora profile picture?
From our Help Center article, How do I add or change my Quora profile picture?:On the web:Visit your profile page, which you can access by clicking on "Profile" from the menu in the upper right-hand cornerHover over your photo, and you'll see an option to "Edit Photo"On the mobile app:Visit your profile page, which you can access via the "You" tabTap the "…" iconTap on the option to "Edit Profile"From there, you should see an option to "Edit Photo"For more information about Quora’s features and frequently asked questions, check out our Help Center.
Do you have to pay taxes on money earned through the Quora partner program? If so, how do you declare it?
Yes, they are taxable to the recipient. These payments are part of Quora’s marketing budget (or at least that’s how I would count them if I were doing Quora’s books). As such, the payments to the recipient are taxable income, and such recipients will get a 1099-MISC from Quora with the amount filled in box 7 if those payments are over $600. Even if you don’t get a 1099, they are taxable to you and you are required to include them in your taxable income. Expect them to ask you to fill out a W9 form.They are not a gift or some other non-taxable event.
What happens if you mail out your tax return but forget to put your return information?
There are really only two things you can do:Call the IRS and let them know what happened.Send out an amended return. Most likely, the other return will be tossed out anyway since not having your return information probably fits the criteria for an incomplete/invalid return.
How do I file my income tax myself?
Greeting Friends !!!If you are going to file it yourself, then following is the procedure:-Before you start the process, keep your bank statements, Form 16 issued by your employer and a copy of last year's return at hand. Next, log on to http://incometaxindiaefiling.gov...Follow these steps:Step 1: Register yourself on the website. Your Permanent Account Number (PAN) will be your user ID.Step 2: View your tax credit statement — Form 26AS — for the financial year 2015–16 . The statement will reflect the taxes deducted by your employer actually deposited with the I-T department. The TDS as per your Form 16 must tally with the figures in Form 26AS. If you file the return despite discrepancies, if any, you could get a notice from the I-T department later.Step 3: Under the 'Download' menu, click on Income Tax Return Forms and choose AY 2018–19 (for financial year 2017–18 ). Download the Income Tax Return (ITR) form applicable to you.Step 4: Open the downloaded Return Preparation Software (excel or Java utility) and complete the form by entering all the details , using your all documentsStep 5: Ascertain the tax payable by clicking the 'Calculate Tax' tab. Pay tax (if applicable) and enter the challan details in the tax return.Step 6: Confirm all the information in the worksheet by clicking the 'Validate' tab.Step 7: Proceed to generate an XML file and save it on your computer.Step 8: Go to 'Upload Return' on the portal's left panel and upload the saved XML file after selecting 'AY 2018-2019 ' and the relevant form. You will be asked whether you wish to digitally sign the file. If you have obtained a DS (digital signature), select Yes. Or, choose 'No'.Step 9: Once the website flashes the message about successful e-filing on your screen, you can consider the process to be complete. The acknowledgment form — ITR—Verification (ITR-V ) will be generated and you can download it.Step 10: you can Verify online with EVC Pin or Take a printout of the form ITR-V , sign it preferably in blue ink, and send it only by ordinary or Speed post to the Income-Tax Department-CPC , Post Bag No-1 , Electronic City Post Office, Bangalore - 560 100, Karnataka, within 120 days of filing your return online.Its Advisable to go with CA help for filling Tax return. There are lots of amendment come in every year, to file accurate return and Tax planning benefit etc so Prefer to go with expert like CA, Tax Preparer etc…Be Peaceful !!!
Do I still need to fill out an IT return if there is tax getting deducted from my salary?
Yes. You need to, because as per income tax act every person should fill the income tax return every year. If your employer deducted the tax form your sallery you need to file it returns for disclosure of any income from other sources or you may receive some gifts in any financial year or you may get movable/immovable property from any source.I hope it may help.