New answers tagged tax-law
3
If you filled out the form, did not specify "Exempt" below 4(c), and did not specify high enough deductions that you would have nothing withheld, then the employer should follow the rules, withhold a specific amount of money, and pay it to the government, as reported on your W-2. If an employer willfully fails to withhold and pay the required taxes, they are ...
1
Given the statutory reference in the question, I assume that this question is about U.S. income tax laws.
When you contribute property (money or in kind) to a corporation and receive initially offered or treasury shares in exchange from the corporation, under U.S. tax law, the transaction is a non-taxable contribution to capital.
In the case of a cash ...
1
As far as I recall, each European country has its own definition of tax residency. For instance, in Germany, you are considered subject to full income taxation if you:
• have at least one home in Germany, even if it's just your second home
• have your habitual abode in Germany
• are a German out-of-country official who is being paid by a public treasury or ...
0
Equity is established by the company acquiring value. If the only value the company has is in its ability to sell stock, then the fair market value of the stock is quite easy to calculate: it's whatever you say it is. If you buy 100,000 shares of stock for $0.25 each, then the total assets of the company consists of the $25,000 that you paid to the company ...
1
Companys limited by shares1 always have shareholders
When you apply to create a company it is created with the number and types of shares specified and are owned by the people nominated in the application form.
Tax
Shares in a newly founded company can be set at any value and their acquisition does not create a taxable event for either the founder(s) or ...
13
You will probably not be able to take a tax deduction for this.
The IRS requires that the space that you use for your home office is that the portion of your house is exclusively and regularly used for business purposes. It also must be the principle place of your business.
Some employees can use the home-office deduction, but there are tests there too:
...
1
Apart from what Dale is saying, if someone gave you a loan, there would have to be a loan contract. I suppose there isn’t one, right? No contract, no loan, no repayment.
If there was a loan contract, any contract that you entered as a minor is voidable. So if your stepfather gave you say a $10,000 loan, with a signed contract, you could void that loan ...
2
What loan?
People provided you, as a child, food, shelter and the necessities of life. If these people were your legal guardians then this is their obligation; if they weren’t then this is a gift.
Legally you owe nobody anything for this. Ethically and culturally, well, that’s up to you.
Top 50 recent answers are included
