I'm looking into getting one of these so that I don't have to pay tax twice when reselling. As it stands currently, I pay sales tax when I buy items and then I'm paying taxes when I sell items (over $600). I'm unclear on how well these resale certificates work in our environment. For example, I hear target doesn't accept resale certificates. Anyone have any experience with this?
As stated. Would be interested to know as someone looking in on the recent Destiny Church activity what it is and to what level they are being reappropriated. Would also be interested in hearing any info on the impact or value they are having in the community at large apart from that in recent MSM coverage. Productive please.
possibly dumb questions but I want to make sure I’m not doing anything wrong / owe extra taxes. I’m gonna start a part-time job and clearly will not make much by the end of 2021. so I put exempt for myself on the WT-4 bc I don’t think I would owe taxes?
since the standard deductible is $12550, if you make less than that, you don’t pay taxes, and it’s fine to be exempt from tax withholding? is that right?? does that mean I can keep my withholding exemption in 2022 as well or should I change that (would I fill out another WT-4)? if I change it so my employer Does withhold my taxes, do they not withhold it until you make more than $12550 or they just withhold it anyways and you have to get money back through tax return?
thank you…tax stuff is scary and I’m afraid of doing smth wrong;;
The Ministry of Finance announced today that the tax exemption benefits for foreign nationals will be extended to December 31, 2023.
The tax exemption benefits include:
-Housing rental
-Children's education
-Language training
http://szs.mof.gov.cn/zhengcefabu/202112/t20211231_3780374.htm
Hello, I wanted to share some info that might be well known but just in case there are other people like me who had no idea.
My wife (veteran) and I have been going through the underwriting process for awhile now. We live in Illinois and most of the information about the Disabled Veteran Property Tax Exemption makes it sound like you have to own your home prior to applying for the exemption.
I assumed the loan officer couldn’t factor that info into our loan (with taxes monthly mortgage is $2000, without it is $1600). BUT THEY CAN.
The shit thing is we weren’t informed about this (despite our lender knowing my wife was 100%) until a week before closing. Some things happened that prolonged our underwriting process and randomly the lender revealed she could add that in so help us secure the loan.
The paperwork is called “Hold Harmless for Tax Exemption”. I’ll upload a blank sheet for you all. Basically it means you pinky promise to go get your shit together to be property tax free ASAP after closing.
Here is info about property tax exemption by state prop tax info
I purchased a condo in May 2021. The prior owners had a residential exemption. The two preliminary tax bills that I received in 2021 were addressed to me and included the residential exemption.
However I just received my 3rd quarter actual bill and the residential exemption is no longer included. I called the Assessors office and they indicated that I will need to pay the full tax for FY2022 because I wasn't an resident on January 1, 2021, and that I will be able to apply for my residential exemption for FY2023.
Is this accurate? It seems that all new homeowners would end up paying one full year of non-exempt taxes. I figured that the residential exemption of the prior owners (who were primary residence occupants), would carry over until I could officially apply for my own.
Does anybody have any experience here? Thank you!
Our billing contact got an email from Hetzner out of the blue today saying that they will start charging us VAT unless we have some sort of exemption. As a non-EU entity we usually didn't have to pay VAT to EU suppliers.
Has anyone else seen the same message ?
The current personal estate tax exemption is around $11.5M but I think this drops back to $5M in 2026.
What happens if I gift $5.5M today? Does this count against my $11.5M and then in 2026 I still have $5M remaining? Or am I suddenly $500K in the negative in 2026?
(Apologies, I tried to google this but couldn't find the right search term)
I recently found out Oregon exempts active duty military from paying state taxes.
My state of residency has been Oregon for the entirety of my service (8+ years) and I have been paying state taxes to Oregon the entire time.
So my questions are,
-
Is there an easy way to fix this? Like through myPay?
-
Is there a possibility I Can get refunded all of the money I’ve payed in state taxes the last 8 years?
I am living in a building that received a 421-A tax abatement and is currently rent stabilized. However, I was thinking about the term of the lease (16 months) and thought it was a bit strange, so I looked up the list of bulidings with the 421-A tax abatement and the building no longer shows up. Is there any way to look up exactly when the abatement (and associated rent stabilization) expired?
Today I stumbled upon this:
>Capital gains from securities are not subject to WHT if they result from shares in listed companies and tradable rights in such shares on a regulated securities market in the EU/EEA (the exemption may extend to third country markets eligible as equivalent markets under the law).
Source: https://taxsummaries.pwc.com/bulgaria/corporate/withholding-taxes
Can anyone confirm this is true? So if I buy and sell shares on, say, IBKR Hungary or DeGiro etc. my gains won't be taxed at all?
I recently moved to the UK for university studies as a full-time student. As I understand, I am exempt from paying council tax because of studying full-time.
However, during my research regarding council tax discounts/exemptions, I noticed that to qualify for a Class N exemption, every member of a household has to be a student. Now, my mother has accompanied me for the move and is currently staying with me in the flat I rented privately (it's only under my name). She is here on a standard visitor visa (type C), and will return to our home country at the end of 2021/beginning of 2022.
Due to the current situation of my mother temporarily staying with me, I'm unsure whether I can still apply for the Class N exemption or only qualify for a discount. I have checked the website of my local council and it states that "You may receive an exemption if your home is only occupied by students". What is exactly counted as an occupant here? Would my mother be considered to occupy the property simply by staying with me? Or is she also disregarded for council tax since she is a visitor? English isn't my first language so I'm having a slightly difficult time with the terms.
I have looked into contacting my local council directly for clarification but their only applicable inquiry form requires a council tax account number (which I do not have) and I couldn’t find a non-emergency number or email. 😓
TIA for any help! I am in England. :)
Long story short, I'm an idiot. I switched jobs exactly halfway through 2021, and somehow I managed to check the exemption box when filling out W-4 on my new employer's online portal. I should've noticed when I was getting more money than I should've, but as I said, I'm an idiot.
I just noticed when I was checking my paystub online and saw it says zero on the amount withheld.
I realize that I'll have to pay what I owe when I file my tax return but looks like I'm paying a penalty as well: "Generally, most taxpayers will avoid this penalty if they either owe less than $1,000, or if they paid withholding and estimated tax of at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is smaller"
I'm filing single with no exemptions, I made ~30k in the second 6 months of 2021, so I owe more than $1,000 as it stands now.
And I made ~28k in the first 6 months and its taxes are withheld for this period, but the amount of tax in 2020 is just a little bit over what it's currently withheld for 2021.
I noticed that you can make quarterly payments for estimated tax, so can I just make an estimated tax payment for this past quarter before the deadline (Jan 18)? and this way the amount of paid estimated tax and total withholding will be over 100% of 2020 tax, and when I file my taxes for 2021 I'll just pay what I owe for the remaining quarter without any penalty.
Is my thought process correct, or is there something I'm missing?
As an Army veteran with two deployments in support of OIF, I received hazardous (hostile fire/imminent danger) pay/bonuses on top of my regular pay with my regular pay also being exempt from federal income taxes during the course of my deployments. As such, I offer this proposal for debate:
Teachers, administrators, paraprofessionals, substitute teachers, etc. have earned hazardous pay and federal income tax exemptions retroactive to the 2020-2021 school year. Additionally, teachers who continue on in subsequent school years during the course of this pandemic should receive a $13,500 "reenlistment" bonus that is also exempt from federal income taxes, retroactive to the 2020-2021 school year.
Quite a few people will argue that this is not feasible. It is. As with many things, it's really up to the federal government to allocate these funds and for legislators to support this initiative. Before we brush it off as a "pie in the sky" idea, the military typically sets hazardous pay at $225 PER MONTH; we absolutely have the funds to do this for all who qualify. There just has to be a desire to do so for all who qualify and, unfortunately, not many will feel that teachers, etc. have earned it which is, of course, absolutely untrue. On top of that, qualifying for these benefits that we've earned should not come with crazy requirements, something that typically happens, and, instead, should be very straightforward: states receive funds to be allocated to districts; districts distribute funds to those who qualify.
What do you all think?
EDIT: In 2020, the maximum amount for the Selective Reenlistment Bonus (SRB) for the military was $25,000 so the $13,500 is an extra $1,000 of what half of that would be...
I understand that Tax is collected at Source at 5% rate whenever one transfers money abroad, above the threshold of 7 lakhs per financial year under the Liberalised Remittance Scheme. My question is how does the system detect whether you have sent more than 7Lakhs internationally in the current FY? Is the tax deducted from every foreign transfer and we should claim refund at the time of filing IT Return? Or can we submit additional documents at the time of making the transfer so that tax is not withheld if the threshold hasn't been crossed as yet?
EDIT: As a follow-up, which is the best way to send money abroad from your experience? Wise/transferWise is fast, makes the process extremely simple & has better conversion rates than banks, but they also have a substantial fee (>10k if you are sending lakhs at a time). HDFC(and I assume most other banks) has a outward remittance scheme which is more process heavy, has poorer conversion rate but seem to have lower fees, unless I'm mistaken. Any opinions?
Or do I need to wait until next year to apply for 2021s tax bill due 2022?
I know I will have to pay taxes on the second home.
Closing on a house in October and the appraisal just passed as well as the inspection (both privately and from the VA) so from my understanding it would take something incredibly significant for this contract to fall through. I am exempt from property taxes in the state of Texas but as a portion of closing costs they intend to take a years worth of property taxes into escrow. My agent tells me that I will be able to contact the company to get the money back after the close but I was wondering if there was a way to get approved in advance so that I do not have to put up the money in the first place (I have the cash, I just find it redundant to give money I am getting back essentially and having to deal with a middle man). Anyone have any experience with this situation?
