 Is there a tax on long-term capital ganins by selling shares? I mean shares held more than 3yrs.? |
| Recently l sold some of my shares which is old more than 5 years. Is there any tax I have to pay for the profit? Also what is the tax liablity for the short term gains i.e. shares sold within 5to 6 ... |
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 Is it possible to pay your employees with cash in the state of New Jersey? |
Employer is an adult movie making business.
Employees would be the cast and crew.
Additional Details
The company will keep a record of all payments for tax purposes.
L... |
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 Is there a form/place you can fill out to legally not have to pay federal imcome taxes?? |
| I have been reading and researching this and have come to the conslusion that there is not a law which gives the federal government the right to collect federal income taxes. I was just wondering if ... |
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 How do i stand when renting out flats and paying tax on the income.....? |
| the 2 flats are mortgage free and they are ready to rent but i've been told i have pay tax on this, this cant be true. is there anyway i can get out of paying them tax?... |
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 Is it wrong to ask "wealthy" people to pay more in taxes % than the average person? |
| Asking the wealthy to pay more in taxes is unfair. You are probably richer than someone you know, should you pay more taxes than they do? Why cant it be a flat tax? A percentage is fair. If you ... |
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 Non custodial parent wrongfully claiming child on taxes? |
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 How can i surrender the current pan card and get a new one? possible? |
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 TAX. If my wife’s sister only works for only 1 month, can she file her 2 kids (both are under 18 years old)? |
Here’s their situation.
My wife’s sister and her 2 kids just came from the Philippines in late October. She just started working this week.
She is 38 years old and lives with her Dad ... |
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 Does anyone use Turbo Tax, and if so what is your opinion about it? |
| Did you have any problems, was it easy to understand, was you able to do both state and federal taxes, is easy to incorperate 10-99's , would you recommend it?... |
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 I need a real answer, FAFSA related? |
| If a friend's parents are refusing to give the information required for the student to fill out the FAFSA what can the student do? Specifically, what are the steps that need to be taken to fill ... |
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 Do married couples get a bigger tax break than non-married people? Or do you get more back as an independent? |
Do you get more back on your refund if you aren't married or are you more likely to get more back as a married person?
Additional Details
not talking about the credit for having ... |
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 Does social security give bonuses directly added to your checking account? |
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 Tax question? |
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| What penalty do you think Wesley Snipes should face? |
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 Where do I stand with the IRS? |
| While looking through past divorce records, I found that on his 2003 and 2004 tax forms, my exhusband claimed that he paid me alimony for those years. I never received any alimony and was never ... |
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 I LUV FRANCE!!!!!!!!!!!!!!!!!!!... he he he? |
| does anybody luv tat place! i do i do! even tough i have never been there i still luv it!!!!!!!!!... |
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maryland_megan | I lived in Indiana until December 1st, 2006 then moved to Maryland. Where do I file state taxes? Both states?? |
I worked in Maryland the last 3 weeks of December and live there now. I included a W2 from Maryland in my Federal Taxes. |
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coolfin69
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You should always double check federal and state statutes and regulations. You will also want to verify this with a professional in that field.
As an (traveling) employee though, I have been told that you need to work at least 6 months in a location to require filling. This is related to where we CLAIM as a work location internally. I'm still employed where I live and not in the place where I technically work.
If you, on the other hand, have physically moved from one to the other and have received pay in both locations (especially if taxes were withheld) then you will need to file in both.
I just use H&R Block's online filing system, so it tells me what I need to do. |
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Take Responsibility
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I am not familiar with Maryland or Indiana tax laws, but if they are like most states, you will need to file in both states. If they follow the typical rules, you will need to file a part-year resident return in both states. When all is said and done, and assuming their laws are similar to other states, you will end up basically reporting the money you earned in each state to that state.
But you can't just put only that amount on your return for each state. There are probably special forms for your situation.
Look for a part-year resident return.
The links below are to more information on the Maryland and Indiana tax websites. |
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tma
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you have to file an Indiana Non-Resident/Part Year Resident tax return and a Maryland tax return. |
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caretaker
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Both places |
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boinga28
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You have to file in both states, but the good news is that you will get a credit on your state returns for taxes paid to other states. |
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bostonianinmo
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You file an IN part-year return listing the income you earned there. Ditto for MD. Each state is entitled to tax the income you earned while living or working there. |
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Shredded Cottage Cheese
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I'm sorry, but Coolfinn69 is wrong. If you earned income in a state and lived there, you must file an income tax return for that state (assuming they have one). If you moved to Maryland 1 Dec but were not employed for the month of December then you would file only in Indiana.
Also, once you moved out of Indiana, they cannot tax your income as you were no longer a resident. Thus you would file Indiana only for the 1st 11 months. IF you worked in MD the month of Dec, then you would file for the 1 month of Dec's income. |
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dedication62
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I would be safe and file in both states. |
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