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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13 views

When must an employer issue a Record of Employment in Canada?

I had worked for a company but my contract ended in January. I had since done other work but the industry has been shutdown by COVID-19. I applied for Employment Insurance (EI). Part of it requires ...
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1answer
34 views

W-4 filled out, no taxes take out of paycheck?

I filled out a w4 upon hire and employer never took taxes out of my check. Is it legal for them to have a w4 on file and not take taxes out your paycheck? ETA: Exempt was not specified on the W-4 and ...
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21 views

Must an employer give some kind of documentation for income tax?

When must an employer issue a T4, T4A or some kind of document to a person they paid for their work? Does it make a difference if the person was an independent contractor or employee? Why do some ...
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3answers
123 views

How exactly is founder stock created?

Suppose that I found a C corporation, Superlative Widgets Inc., within the U.S. I would like to both fund the corporation and issue myself 100,000 shares in a way that avoids or minimizes my personal ...
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Tax Implication of COVID-19 Induced Remote Employment

A U.S. company has instructed it's employees to work from home for a period extending 4 weeks following city and state guidelines as a necessary precaution in response to COVID-19. Subsequently ...
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2answers
108 views

Is a minor liable to pay old dues to his father on attaining majority?

I had some stepfathers and an equal number of fostermothers in my life. My Stepfathers used to work in customs and central excise department of the government of INDIA. They used to be transferred ...
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1answer
115 views

What article implies that foreign non-EU citizens have to pay VAT for goods and services purchased online?

I'm a Russian citizen. I've noticed that literally all online EU shops and service providers (e.g. web hosting) add VAT to the price. I've spent some time looking for an article that implicitly states ...
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Is there really a German law that requires that credit card companies *only* provide statements in read-only format?

I live in Germany and have a German €-denominated credit card. I used to download my monthly transactions in CSV format, but after a recent web site redesign, the new credit card web site only allows ...
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69 views

Is it legal to crowdfund the cash prize that would be payed to the winner of a 1-on-1 sporting event?

I am personally planning to build a donation-based crowdfunding sporting (like chess, shogi, go, etc.) website . I would like to know if it is legal to gather donation from the users then pay the ...
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1answer
55 views

How does paying income taxes work in the US?

I don't have a well defined idea on how the tax system works in the US, the few things I know is that they are paid to the IRS every amount of time (yearly probably) that there's an interest/...
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26 views

Do nonqualified stock options need term limits to be exempt from deferred compensation (409A) treatment?

Suppose that I want to build a startup with independent contractors and want to compensate them with non-qualified stock options (NSOs). I expect the business to take some time to stabilize and ...
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165 views

Do non-US companies have to pay US tax just because they have US customers?

I just came across some US tax forms for foreign entities like W-8BEN-E and 1040NR which made me ask this question. Suppose a company called Cool Stuff Ltd. runs some sort of online business serving ...
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1answer
33 views

Contingence in the law - citizenship or residence

Non-US individuals who get payments from a US company have to fill in a W-8BEN form and give the form to the US company and then the US company gives the form to the IRS. This happens for example ...
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1answer
34 views

Other means of payment related to property taxes

Probably my question is related to one of my previous ones, but it is most likely not the same. If a foreigner who doesn't live in the US as main residence and therefore doesn't have tax residence ...
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1answer
55 views

Cosmetology salon workers status in California from 2020?

I have been reading at various sources that beauty salon workers that have independent contractor status would be reclassified as employees starting from 2020 throughout the California. Presumably ...
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71 views

Refusing income or payment without tax liabilities

I am part of a non-profit organization that is insisting on paying me for my time. For personal reasons, this payment is more costly for me to accept than to disclaim it entirely. Is there a proper ...
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1answer
32 views

When is “at the time of the gift or inheritance”?

"Similarly, if you received specified foreign property as a gift, or inheritance, the cost amount is its fair market value at the time of the gift or inheritance" Question: If I am the beneficiary of ...
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1answer
31 views

Working for Spouses foreign company

My spouse and I currently live in the US. We plan to move back to my spouses home country, where we will live and work long term. Our current plan is to have my spouse start a company in the foreign ...
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1answer
29 views

How to handle an existing business' income and expenses when incorporating

I'm looking at incorporating my sole proprietorship as an S Corp. (An alternative I'm also looking into is an LLC taxed as an S Corp). My existing company already has income and expenses in 2020. ...
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44 views

Capital gains from bullion sales

I read on the internet that one can sell, online, less than 25 troy ounces of gold Maple Leaf coins without reporting the sale to the IRS. Is this true? Is this over a calendar year?
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74 views

Could U.S. states test a wealth tax?

There has been some debate in the Democratic Party on the subject of a federal wealth tax. I know that there is some debate about the constitutionality of a wealth tax, but for the purpose of this ...
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3answers
98 views

Living in permanently growing debt to your own company

Some countries entertain corporate income tax rates significantly lower than personal: Ireland: 12.5% vs 20–52% Estonia/Latvia: 0% vs 20% Sweden: 21.4% vs 32–57% Barbados: 5.5% vs 25–38% Say Bob ...
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1answer
36 views

State property immune from local taxation?

I know that Federal property is generally immune from local taxes, but what about property owned by the state? Is that just a matter of state law? Is there a term for this kind of immunity because I ...
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3answers
158 views

Is it legal to pay a contractor cash?

I know that some businesses accept cash in exchange for services and never declare that income (tax evasion). I understand that it is illegal for businesses to do so. But what about the other end of ...
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1answer
49 views

Would an organization committed to non-violently supporting indiscriminate human annihilation be eligible for 501(c)(3) exemption?

Hypothetically, if someone formed an organization whose objective was dedicated to the annihilation of the human race, but did not permit violent acts from its members, would it in any way be ...
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71 views

What legal consequences might reasonably arise from marking marriage status on tax forms incorrectly?

I want to get married through a confidential marriage license (I'm a California resident), but I don't want my accountant to know (for annoying family reasons). If he later goes through my tax forms ...
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2answers
50 views

Responsibilities (legal and fiscal) for individual (based in Germany) hiring an international freelance contractor online

Suppose that an individual hires a freelance contractor (through online platforms like Fiverr, UpWork, or Freelancer.com). The contractor may be from any country and may or may not have a regular VAT. ...
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84 views

What is the legal principle which requires Apple to pay the Irish State €13 billion?

In 2016, the EU ruled that the Irish State provided state aid to Apple, which was deemed to be illegal. As a result of this, Apple are required to back-pay €13 billion to the Irish exchequer. From a ...
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68 views

Do H1B visa holders allowed to use Patreon to get extra income?

Could anyone explain if H1B visa holders legally allowed to use Patreon or similar services to get some extra income or not?
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3answers
65 views

If an American LLC buys something, do these expenses reduce their profits?

Imagine an American LLC which buys some commodity (e. g. gold) for every dollar that it owns (after taxes). At the end of the year, the company has 0 dollars in the bank (because all money was spent ...
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1answer
78 views

Tipping competing salon that unjustifiably sued us to IRS for misclassifying their former employees?

We are being sued by a competing business salon that in complaint filed with court alleges that their "former employees" conspired with us in stealing trade secrets (a.k.a. customer contact list). In ...
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1answer
41 views

UK Single person council tax discount when owning joint property

We own a joint property in the UK, and are full taxpayers of all taxes including standard rate council tax band for the region. But my partner will be going abroad for a significant amount of time (6 ...
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3answers
111 views

Can a founder 'gift' pre-existing assets to a company after hiring a cofounder?

I live in the U.S. Suppose that I create a company with a deposit of $10,000 and want to bring in a cofounder for an equity stake of 15% in this company. I have personal assets like computer code, ...
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29 views

Property tax in NYC

How much do property taxes amount to in terms of their related asset worth in NYC? Are they delivered in form of bill or notifies?
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1answer
41 views

Filing US tax returns over bank account-related interests

I do know that in the US, bank-account interests are taxable as passive incomes, but what I don't understand is the point of filing tax returns on bank account interests, since the government (or the ...
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1answer
49 views

Buying a home in NYC as a non-citizen with no previous ties with the U.S

If a person wins, let's say, the equivalent of US$ 300 million in another country, goes to New York City and buys a house there, they certainly need to report their own residence in order to live ...
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1answer
76 views

Isn't paying overdue taxes an indirect admission of guilt?

People are strongly advised to pay taxes due, regardless of how old they may be. But wouldn't it seem obvious that paying taxes due years back would be somewhat of an admission of guilt? You are ...
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2answers
42 views

How can tax residency be proven within the EU?

I am aware of tax residency 183 days rule which in theory obliges you to pay taxes to a country where you reside 183 days or more. The thing that I do not get is how can this be applied to EU ...
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49 views

Why is it legal to look at pending stock orders for some participants

another question indicates that market participants can take a look at the orders for a stock, option or futures. An ordinary investor can only look at the BID and ASK, but not the entire series of ...
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1answer
98 views

Is imposing taxes on WhatsApp use legal or not?

I hope this is the right SE site to ask this question. Recently, in Lebanon, the government decided to impose a daily tax on the first call made using WhatsApp call feature, equal to 0.2$. Now ...
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4answers
92 views

Does the owner of a foreign company need to pay taxes in the country of residence, if he does not receive any money from the company?

Imagine someone in Austria, let's call him Franz, registers a company in another, non-EU country. He sells some services in the name of the company. The company gets paid by its customers (the money ...
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14 views

Reopening A New Medical Corporation Following Closure Of An Old One Due To Tax Issues

Is it possible for a physician to reopen a new medical corporation with a new tax ID, new telephone number, new location and new name after his old one has been closed due to unpaid taxes? And, if so, ...
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75 views

Starting a business: is it legal to hire freelancers if you haven't registered the company yet?

The reasons I would want to delay the registration of this business as much as I can are: I don't foresee having a single dollar of revenue until at least 2 years later (the product I'm building is ...
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How to start the “streamlined procedure” with the IRS?

I am a USA expatriate. I just learned about the IRS requirement to file tax returns no matter where you live. After some research, it seems the way forward is that I enter the "streamlined procedures" ...
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Cyclic definition of “US Person” by the IRS

The IRS classifies taxpayers into categories of "US Person" and "Foreign Person" based on their immigration status. However, the definition appears to be cyclical: According to the IRS: The term ...
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At formation, in exchange for stock, X contributes cash, Y contributes only “services provided”. What's a smart way to do it?

Setup: X has cash, Y has an idea, experience and contacts and wants to work on this idea full-time. X wants to create a corporation with Y and contribute $100,000 for 50% of its equity. Option 1: Y ...
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State of Legal Residence - is this person filing taxes right?

I have a friend who left home at 18 to join the Marines. He used his parents' address for mail. He then worked for various overseas companies (doing oil related things) and continued to use his ...
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152 views

Can Congress, or any other body, subpoena the President's tax records?

President Trump's tax records, and the question of whether Congress can access them, have been on the news for years. In all this time, I've never heard any analyst debate whether or not a president ...
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1answer
41 views

Does receiving a stipend for participating in GSoC constitute self-employment?

I participated in Google Summer of Code and received a stipend from Google. I worked with volunteer mentors associated with free/open source projects not associated with Google in any direct way. ...
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1answer
49 views

Import duty tax UK if the parcel goes back without being delivered

I ordered a parcel from US (I live in UK) and so I paid import duty tax before delivery. Now, for weird reason FedEx didn't delivered the parcel to me and send it back to US. Now, technically there ...

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