 Can i work full time in the uk if i am 17? |
hi everyone, i'd like to ask u, can i work full time in the uk if i am 17?
thanks for answers ... |
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 My 31 year old son plays in a rock band and tells me he hasn't filed an income tax return in 10 years. ? |
| he has never earned much and it probably was mostly just cash payments. question. he is in serious IRS trouble?... |
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 Tax deduction? |
If you give a gift of money to someone in need, can you write that off as a deduction, and how if so.
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 Is TurboTax worth it? |
| I've heard a lot about TurboTax, but with the price of the software, is it really a good investment? There are different levels of membership as well--which is the best value for your tax needs? ... |
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| Do I still have to any tax? 10 pts for best answer!!!? |
I received a large sum of money ($12,000) from my motor vehicle insurance company. Do I have to pay any taxes? If I do, then how much? When do I pay? How do I pay?
i will be rewarding 10 ... |
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 Does anyone have any TRUE info about delay of refund? |
| We all have heard so many reasons about our refund date being pushed back, I was just wondering if anyone might actually have the real reason why. there have been so many possible reasons, but some ... |
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 How strong is the IRS? |
| What power do they have and to what extent can they use it?... |
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 How do you go about stating your own income on taxes. i work under the table.? |
i would like to have something to bring to, say a dealership or something. am i going to owe a bunch of money when i go to say H & R Block
Additional Details
i guess i worded it ... |
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 Can I claim my baby born on August 13th 2008 on my taxes? |
Hello my little one arrived in August I was wondering if I could clain him on my 2008 taxes.
Thanks in advance:)... |
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 Can I deduct improvements made to a house I sold in '06, and do I have to pay taxes on profits from the sale? |
| I sold my primary residence in 2006, for $125,000 and bought a new house for $205,000 in the same month. I used 75% of the profits from the sale ($30,000) as the down payment for the new place. My ... |
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 Is money gifted to my children taxable under the kiddie tax law? |
| My mother gave each of my children $10000. Does the kiddie tax law affect this?... |
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 Do you have to file your taxes every year? |
I heard that there is a law that says we don't have to file our taxes every year as long as we don't go into the negative? Does anyone know?
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Actually I did ... |
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 Paying taxes...? |
| I am only 17 and s at the moment don't really pay many/any taxes, however, it just seems to me that taxes are going up and up. I heard on the radio that 3/4 of somebodys wage goes on tax and ... |
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 Do I pay taxes on my gain on my home? |
| Ive lived there for 6 years. im selling and walking away with about $100,000. I am planning to buy a new home right away in another state. Do I have to pay taxes on the money if I buy a new home ... |
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 Anyone get their stimulus DD today yet ??? |
| Just wondering if anyone got their check direct deposit today like they were suppose to ? The IRS site said mine was suppose to be today,may 16th, but it is not there ?? If you did get your today, ... |
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 When do W-2's have to be mailed out? |
It's the 31st, correct?
If you have a child that is in daycare, does the daycare have until the 31st to mail out the information for the child care credit as well or do they even have ... |
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 Would the UK be a better society if unemployed people went to work in a workhouse? |
| assuming they didn't take the jobs of employed people? What jobs do you think they could do?... |
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 Can I avoid paying tax if I receive regular payments by cheque? |
| I know you can avoid tax if you recieve cash in hand- but what about cheques?... |
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Neo | Does freelancer has to pay taxes? |
My friend and I are thinking about doing some freelance graphic design. We won't really have a physical office or anything, just a webpage and probably use our cell phone. We haven't really thought about the payment methods either, probably check or paypal.
To do something like this, do we have to pay taxes?
Additional Details
Now, what if the company(or whatever it is) is based in other country, let's say HongKong. Do we still have to pay taxes then? It'd be like selling things(service) online like ebay and what not. |
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bostonianinmo
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Of course you have to pay taxes! Whatever gives you the idea that "freelance" income isn't taxable? It's no different from any other self-employment income and all self-employment income in excess of $400 per year is fully taxable in the US.
If you are a US citizen or resident, your world-wide income from all sources is subject to taxation by the US. So it doesn't matter where you plant your website, all income is taxable in the US.
If you are in the US on an H1B visa (or your friend doing OPT on a student visa), that will be outside the scope of your visa and you will risk loss of status and deportation unless the work is completed entirely outside US borders. Tread VERY carefully on this one! There is a lot of hard feelings on H1B visa holders in the US right now, especially in the tech sector. Do NOT do anything that could jeopardize your status! Consult with an attorney who specializes in foreign worker employment law BEFORE you do anything! |
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Steve D
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Yes, of course you have to pay taxes. The IRS requires you to keep careful records of your business income and your business expenses. You must file Schedule C, which calculates your profits. You must pay income tax on the profits and also pay self-employment tax, which means both the employee and the employer portion of the FICA.
Furthermore, you have to pay quarterly installments of your estimated taxes during the year prior to filing your actual tax return. If you file your return and owe taxes and have not paid sufficient in estimates during the year, you will owe additional penalties.
Bottom line, be sure you read up on the requirements before you start, and be absolutely sure that you keep good records.
A good rule of thumb for a part-time freelance start-up would be to set aside about one-third of your revenues for taxes. You'll never get to spend it, and if you do you'll be in big trouble.
If you get more successful and turn it into a full-time income, be prepared to set aside half your revenues. |
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Michael B
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Yes. |
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Judy1
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Yes, of course you'd pay taxes, if you are US residents, even if you aren't citizens. |
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daryllboothe
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That is a big fat YES. You have to pay taxes on any income that you make. You can subtract all the costs relating to the business, but if you make profit, you pay taxes. |
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I know I know!
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Yes you do have to pay taxes on all income regardless of source. You can contact the IRS or check out their website and you will get the information on how to file as self employed. |
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Jimmy John
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Yes. You'll have to pay taxes. Just like everybody.
If you are able to build a cool website, earn little more money with advertising : http://openadsense.com
Your project is good anyways, and taxes shouldnt keep you of making money.
Good luck ! |
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artlogical
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There are only 2 things in life that are definites...
Death and taxes. |
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jazzviolin
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yes you'll be considered self employeed. Make sure to keep accurate records of everything - all your expenses, bills, mileage, etc. |
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Elevating Your Business
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If you are working in the USA, you pay taxes.
Are you physically located in the USA? If so, most states have taxes you pay and so does the IRS.
If you are not located in the USA that may be a different story, however, I"m not a CPA/EA/Accountant, so I cannot provide you with information.
Depending on your situation, look at the IRS website and do some research on export/import, too.
I live in WA State. If I do work physically in NY (like speak for money) I'm to pay NY taxes and do a tax return on that in NY and also report it to WA. So this work stuff gets complicated ;)
Maria Marsala
http://www.ElevatingYourBusiness.com |
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