Questions tagged [tax-law]

Dealing with the constitutional, common-law, statutory, tax treaty, and regulatory rules that constitute the law applicable to taxation.

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Tax requirements for LLC taxed as partnership all foreign members and non us sourced income

I was wondering which will be the forms required to be filled by a Wyoming LLC taxed as partnership, which it's revenue is not US sourced, so no withholding will apply and also all of it's members are ...
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Apart form tax and less regulation what are the benefits of registering a company offshore?

Apart from tax and less regulation what are the benefits of registering a company offshore? I also mean why would one register a company offshore and the incorporate a subsidiary in the country where ...
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Can an employee pay for boss' things?

If someone had a trusted remote employee living in Saudi Arabia where there's no taxes, would it be possible for them to instead of paying themselves a wage, pay the foreign employee extra and then ...
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Can I expense rental costs for tax purposes?

I currently own a property in the UK, which is where I currently live and plan on living most of the time. However, I have recently accepted a job in France and will need to rent accommodation for ...
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Tax law regarding mutual gift giving in USA

I have a permaculture "food forest" of a few acres. It is essentially a small arboretum showcasing representatives of most of the tree and shrub species which can produce fruits or nuts in ...
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Living and working in Turkey and working remotely for a University in Germany

I'm an EU citizen, living and working full time in Turkey. Now, there is a possibility that I could also work remotely for a University in Germany. My question is: Should I pay taxes in Germany for my ...
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Is FATCA really reciprocal?

Question is obviously for non-US persons. E.g German living in Germany with a US bank account FATCA is supposed to be reciprocal but I've seen reports that it is not. https://www.irs.gov/businesses/...
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What is GST status over Crypto transactions in India?

Even though profit from cryptocurrencies like Bitcoin and Ethereum are taxed at 30%, that is only on converting that into Indian fiat, only then the citizen has to pay the tax of 30% of profits of ...
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Does Mrs Sunak have any choice in the matter?

The Indian wife of the UK Chancellor of the Exchequer has now said that while she will in future pay UK tax on her foreign income, she will retain her non-domiciled status. Is there any choice here? ...
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Legal redress against smaller HMRC decisions?

I understand most of the "regular" decisions like tax assessment, etc. from HMRC (Her Majesty's Revenue and Customs - the UK's principal tax authority) are appealable, ie. you can refer them ...
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Is lending taxable?

Barter is taxable. So are gifts. What about lending objects (possibly for an indefinite amount of time)? If it is not taxable, would that constitute a loophole for the taxation of gifts and barter? If ...
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Can an LLC member "reject" an unvested gift of interest from a living member several years after it is given?

I have an LLC. My son and daughter (both over 18) are the only other members. In December 2019, I transferred to my son a capital interest worth $15,000 as a gift and did the same for my daughter. ...
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If a partner abandons his interest, what is the tax treatment for the remaining partners?

Suppose a partnership (such as an LLC with pass-through taxation) has three members. Each owns an equal share of the business, which has a net liquidation value of $300,000. One partner abandons his ...
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I don't know if I have an SSN but applied for a passport anyways

I was born in the U.S. to non-american parents. We moved out of the country a year later and never returned to the U.S. About 20 years later, I applied for a new passport from the consulate in my ...
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What are the regulations regarding health insurance during periods of unpaid leave?

I am a British/Australian citizen living in Austria with residency. I have my social insurance as I am full time employed and pay taxes in Austria. I have my Brexit card to say I can stay here in ...
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Is it legal for a US citizen to purchase foreign war bonds?

I'm a US citizen considering buying Ukrainian war bonds, but I'm not sure if there would be legal or unusual tax repercussions? Also interested in the general legality.
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How much of law enforcement is discretionary?

When I look at the Cannabis situation in the US, I find that Cannabis is still a Schedule 1 drug under federal law. However, such a law is not enforced. So I wonder, how much of law enforcement is ...
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Digital asset tax in India

There is a new tax that has been deployed based on the 2022-2023 budget on digital assets and reselling digital assets in India. For example if X person purchases software say MySQL commercial edition ...
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Taxes question and fake address

Suppose that a non US woman W is married to a US Citizen husband H. W has a green card. W and H live together in Pennsylvania. Suppose that W's parents in law (L) moved to a nearby state. Suppose ...
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Can a borrower create a taxable event for a lender by selling loaned property (e.g gold)?

Lending property (e.g. gold) is not a taxable event as the asset has not been sold. Let's use gold as an example to simplify things. Scenario: A US company is loaned a $100,000 gold bar by a US ...
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Capital Gains: If I loan Bitcoin to my LLC, can the LLC sell it to pay for expenses, and later repay the loan in USD tax free? (USA Law)

I understand that taking a credit line against Bitcoin collateral is not capital gains event because there is no sale. However, If a party, such as a company, is lent Bitcoin (BTC), sell it to pay ...
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Can sole traders retain earnings to the next tax year without paying income tax in Ireland?

Let's say you start a sole trader business in Ireland (year 2022) and you invest €0 into the business. It goes well and you make €1,000,000 within the first year. You decide to expand your business ...
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Chinese freelancers without a VAT number working for European companies

When a European company hires the services of a Chinese entity, can that Chinese entity be an individual without a company or VAT number? Or simply put, are there laws or regulations in China that ...
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Tax treaty between UK and USA: Article 20A

I am a UK citizen who has just finished working in the US after <2 years. I have claiming tax treaty benefits using article 20a as I am a J1 research scholar. However, I wasn't present in the UK ...
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Would an antivax tax violate the Canada Health Act?

Legault’s plan, however, is markedly different in that rather than simply limiting the activities of the unvaccinated it imposes a financial penalty on them no matter where they are or go in their ...
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Is an Iranian independent contractor working remotely for a Cypriotic company required to report income to Cyprus?

Is an Iranian citizen working remotely from Iran as an independent contractor for a Cypriotic company required to report income to Cyprus? Are the received compensations taxable in Cyprus?
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Can capital gains tax be charged on derivatives and similar products in Ireland?

Quote (from this link): Gains on the transfer of certain assets are exempt from CGT. You do not have to pay CGT on gains you make on the disposal of certain assets. You do not need to pay CGT on ...
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Why is a W-9 Required Before the Executor Will Send an Inheritance Check?

I am under the impression that there is no (U.S.) federal income tax. See, for example, the beginning of the second paragraph under Understanding Inheritance Taxes in https://www.investopedia.com/...
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Advanced Child Tax Credit Credit "Safe Harbor" or "Repayment protection"

The "American Rescue Plan" was passed as law and provided for advanced payment of Child Tax Credits. Normally, an overpayment would have to be returned to the IRS, but the law provides a &...
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When filing an FBAR after transferring all of your money from one bank to another, should the "Maximum account value" be written for both accounts?

From my understanding, FBAR is meant to track how much money US citizens hold outside of the US. Let's say that on June 2020 I had $10,000 (the minimum for FBAR reporting) in my account in the bank of ...
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US tax law considering custody for filing taxes

If 2 people are legally Separate and the mother has full physical custody with joint legal custody, and doesn't work but the court order issued for custody states that the mother is to claim taxes for ...
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If you buy something only sold in cryptocurrencies - for example, a non-fungible token (aka NFT) - is that a potentially taxable event?

Suppose I buy one Etherium cryptocurrency coin and then purchase a non-fungible token for one Etherium coin. One cannot buy an NFT using any other currency than a cryptocurrency, but cryptocurrencies ...
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If you are a lawyer of a thief, drug dealer, or human trafficker, what would you tell your client to tell IRS?

I read this in 9gag. So what should we do if we are in this situation? If thieves and criminals can just say I have this income and don't tell the source, can legitimate businessmen do the same?
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Do ACAT transfers of stock positions between brokers clarify as gross amount of US source income paid or credited to account?

This will probably be a bit tricky. Let's say a non-US person holds 100 US stock ETFs in US Broker A. Then does ACAT transfer of those 100 US stock ETFs to US Broker B. Then doesn't do anything else (...
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Can being categorized as a `US resident` by the bank make me a tax resident in CA or US?

According to IRS, I was never a US tax resident. But there is a US bank that thinks I'm a resident in the US. I didn't update my info after leaving. I did fill out W8. I also filled out after leaving, ...
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PLLC's and LLC's

I was recently looking into the PLLC legal structure and am wondering if there are any benefits to forming a PLLC over an LLC in states where professionals are not required to form a PLLC. At first ...
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Can parents be taxed for giving gifts to children?

Are there scenarios where parents would be taxed for giving gifts to their children, such as on birthdays, Christmas, etc.? Would gifts be subject to gift taxes if the amount exceeds $15,000/$30,000 (...
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Depositing Crypto Assets to Receive Interest Bearing Tokens is a Taxable Event?

I have certain amount of ADA tokens bought years ago. I've never sold hence never created a taxable event. I would like to lend my ADA tokens so to increase the interest I make on them. Liqwid is an ...
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Avoid Capital Gain Tax Selling Borrowed Tokens

I live in UK, but wouldn't mind to get responses related to any jurisdiction. better explain with an example: I buy 180Tokens at $0.10 price. 1 year later I still have those 180Tokens. I freeze ...
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Is my company donating money to charity in lieu of paying me salary legal?

I currently donate most of my money to charity, and knowing this my company has offered that they could deduce my salary and instead pay that money directly to charity. I posted a question to the ...
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Can businesses reclaim a higher VAT rate than applied to the products they sell?

Take an example where you are a fast food restaurant and you are using an app ("The App") such as Just Eat to handle orders. Imagine The App charges you a service fee of 20% of the order ...
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What happens to business customers when you don't register for VAT?

From my understanding, if you are permitted to and choose not to register for VAT: You do not add VAT to the prices you charge to customers. You do not have the right to reclaim VAT on business ...
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How is VAT calculated for takeaway service fees based on the two-third rule in Ireland?

If the delivery and service fees of a takeaway business are less than one-third of the food being sold, which VAT rate is applied to the delivery and service fees? The regular service VAT rate (23%) ...
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What does it mean to structure a tax law as an excise tax in Washington state?

I read on https://www.seattletimes.com/seattle-news/politics/lawsuit-against-washingtons-new-capital-gains-tax-can-move-forward-judge-rules/ Democratic lawmakers have said they structured the new law ...
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Do you have to pay tax when you sell a gifted car?

Assume someone gets a used car as a gift that has a value under $10K. Now, a short time later, he wants to resell it. Does the law oblige him to pay any taxes arising from the sale? If so, how much? ...
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Outside IR35 Public sector - Recruitment agency asking for NI Number on ltd company compliance form

I've successfully landed a role in the public sector. I was told by the agency it is outside IR35. I've been sent a lot of documents to complete. Amongst them is a Ltd company compliance form. This ...
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Will tax evasion/fraud cause a jail in US?

Suppose that someone bought a used car from a private party for cash (under $10,000) in California, and the seller wrote it was a gift, so that the buyer gets a new title without paying the tax. Then ...
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How can somebody pay taxes of a "gifted" car?

Suppose someone buys a used car for cash, and the seller says "I will write in the title that it's a gift to avoid sales tax, instead of giving you a discount". Suppose further that the ...
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Does a purchase and refund count as a "significant transaction" for HMRC and Companies House?

Consider the following hypothetical scenario. Company A incorporates in the UK on day D. Company A makes a purchase to present a product at a trade show and gauge market interest. It attends the show, ...
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Is it legal to earn money from YouTube as a BlueCard holder in Germany?

Suppose that Bob is a non-European living in Germany and has a blue card. He doesn't have a permanent residence yet, just a blue card. He also has a freelance tax number (for software engineering). Is ...
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