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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Working part of the year from Spain for a UK company, what are the implications?

I am an EU national based in the UK working for a British company. I would like to live and work remotely from Spain between 3 to 6 months per year. My current company told me they would not ...
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Is it legal to report the amount paid to the lawyer minus the disbursements lawyer had made by tax-year's end in 1099-NEC "Nonemployee compensation"?

Assume X,Y are positive real number and X<Y. Suppose $X is the amount the patent lawyer disbursed to entities to file the patent for review including amounts to foreign examining agencies to ...
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Startup business what can I deduct in Ohio

Per Ohio law I see that it shows taxable income can be deducted up to $250k. If I have a small startup business and make less than $250k a year as a side business, is it true that this 100% deductible?...
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Is certification required to become an author's editor?

According to this source, I would not need a license to be a freelance editor. But if I had a business, the source says I may need to register the business, and I also may need a vendor's license ...
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What happens if one neglects, or declines, to pay one's council tax?

This link suggests that there are possibly no criminal implications, either summary or indictable, which is a little counter intuitive and somewhat hard to believe. As a form of tax, one would expect ...
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Maltese company with CEO living in Portugal. Where to pay corporate tax?

An investor asked me this question a few days ago and I couldn't answer: If a company based (thus paying taxes) in Malta has the CEO and some employees living in Portugal, is there any legal ground ...
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Can you pay someone else's income taxes?

Is it possible to pay someone else's federal income tax if you know how much they owe?
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Is it possible to receive VAT refunds for products bought within last 6 months before leaving UK from stores not specifically enrolled in scheme?

Edit: as pointed out by xngtng, this is no longer in operation and was scrapped a couple of years ago. Suppose one buys something from a shop that doesn't specifically partake in the vat refund scheme....
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How do billionaires get out of paying taxes? Can "normal people" do the same thing?

How do billionaires avoid having to pay taxes? Can "normal" people with average incomes do the same thing?
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How could you commit tax fraud in the UAE where income tax does not exist?

UAE does not have income tax but it has another form of tax. https://www.bdo.ae/en-gb/insights/new-tax-evasion-court-uae-en says that the UAE created a new court for tax evasion in November 2020. How ...
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Sales Tax on Software as a Service

My site provides Software-as-a-Service (SaaS) for a monthly subscription. Stripe collects all payments. Stripe will also calculate and collect sales tax where applicable. The LLC is registered in ...
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Nonprofit for religious blog?

If I write a religious blog (specifically with posts explaining the meaning of Bible verses, similar to sermons but written instead of spoken), could I start a 501c3 to run the site, donate money to ...
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Can sole member LLC add 1% partnership to deduct large business expenses? [closed]

A sole member LLC has business expenses that can only be partially deducted from the individual's taxes because they far exceed the company's income. The company changes to a partnership adding an ...
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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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1 answer
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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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2 votes
1 answer
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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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2 votes
1 answer
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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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2 votes
1 answer
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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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2 votes
1 answer
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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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3 answers
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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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2 answers
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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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1 answer
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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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