Posts Tagged ‘Income Taxes’

Is there any plan to change the tax laws on Canadian working overseas and Canadian citizenship?

Thursday, January 28th, 2010
tax laws
soebwgt55 asked:


Is it likely that the laws will be changed to require Canadian working overseas to pay income taxes to Canada and provincial governments? Are babies born in Canada to foreigners still Canadian citizens? Anyone affected by the new US laws requiring US citizens working overseas to file income tax?

Caroline

Tags: , ,
Posted in Accounting | 1 Comment »

When making estimated tax payments to the IRS, do I need to include an amount to cover self-employment taxes?

Monday, November 16th, 2009
taxes
Richard M asked:


I am a self-employed consultant as of this year, so I am responsible for both income and self-employment taxes. If I cover all income taxes due with estimated taxes during the year, but do not include funds to cover SE taxes until I file in 2009, will it appear on my filing next April that I have under-paid, incurring penalties and interest?

Michael

Tags: , ,
Posted in Accounting | 3 Comments »

What does this tax question mean? If you paid state & local income taxes in 2007 for a prior year?

Wednesday, May 20th, 2009
taxes
Me asked:


“If you paid state and local income taxes in 2007 for a prior year (such as taxes paid in 2007 as a balance due on your 2006 state income tax return), include this amount as other state and local income taxes paid.

Other state and local income taxes: $____”

While filing online, I got an alert here. I did not enter anything in. What exactly is the question asking?

Caroline

Tags: , ,
Posted in Accounting | 3 Comments »

When making estimated tax payments to the IRS, do I need to include an amount to cover self-employment taxes?

Thursday, April 23rd, 2009
taxes
Richard M asked:


I am a self-employed consultant as of this year, so I am responsible for both income and self-employment taxes. If I cover all income taxes due with estimated taxes during the year, but do not include funds to cover SE taxes until I file in 2009, will it appear on my filing next April that I have under-paid, incurring penalties and interest?

Gabriel

Tags: , ,
Posted in Accounting | 3 Comments »