amberbadger17 said:Hey, look, to be honest—I have absolutely no clue. I think I saw something about it in one of those old threads regarding small business taxes, but honestly, my memory is shot. Sorry if I'm spreading misinformation here. :-D
You don't need to send income tax prepayments through those specific small business filing forms (at least, that's what I've heard for now). But does anyone know if a freelancer who makes peanuts or takes a loss—meaning they don't actually owe any tax—is also exempt from paying the 2016 estimated tax installments?
Also, I'm booking passive interest under receipts. Hope I'm not screwing this up.
Got another question about these income tax prepayments for 2016. I get how it works for people actually making money—you calculate the tax, you pay the amount. But what about the folks running at a loss? If you aren't even hitting the threshold to owe income tax, there’s no way to figure out an installment. Does that mean they just skip the prepayments entirely, or is there some annoying minimum amount they're forced to cough up? 🙂
Look, regarding the membership dues: I’m calculating the 2015 fees using the old rates, but obviously, the prepayments for 2016 have to be based on the new rates. It just makes sense. That’s what they laid out in the Chamber of Commerce guidelines, and honestly, it's common sense. The 2016 prepayments should follow the new scale, while the 2015 stuff stays at the old rate.
I already did it that way and sent off two forms...🎉 If they don't like it, they can try to charge me whatever they want. Let 'em.☕
Which specific link are you guys using for the 2015 tax forms? I’ve tried both the IRS site and the e-file portal, but neither one will accept the withholding. Is anyone else running into this wall?
And once that's settled, does the passive interest get filed under receipts or what?
Does a Small Business Owner on income-based tax still need a liquidator to verify their paperwork before handing it over for bookkeeping under the accounting laws?
The folks at my local bank told me that starting January 1st, even a Small Business Owner has to comply, but I want to hear what you all think.
Can I write off 100% of the sales tax and claim the whole thing as a business expense when buying a trailer? The trailer is meant for both my personal car and the cargo van we rent out occasionally for work. We bought it under the business license, so I’m stuck wondering—do I get to claim 100% of that sales tax?🤔
Does anyone know if they updated that consumer complaint notice again?
If they did, what’s the new format? I’ve still got the one based on Article 10, but I heard through the grapevine that the sections were changed, so I wanted to check before I go off on a tangent.
Carol Price4 said:It already passed... April 20th, 2015.
Thanks.
🙂, well, I'm heading over to file this right now then. I had absolutely no clue. I've been scouring the web for info but came up empty. Great, so I'm going to be four days late. In my fourteen years on the job, this is the first time I've ever missed a deadline for some paperwork. I'm going to 🤦🤦. Whatever, it is what it is. I honestly thought the cutoff was April 30th, but apparently, it's the 20th.
Where exactly does it list the deadlines for submitting that form?
I’ve got a question about the special healthcare contribution for people working abroad in the States. Let's say a small business owner is running their business overseas and stays there for more than 30 days—say, six months—but they pop back home to the US for a few days here and there. Is this person actually required to pay? If they are, since they're abroad for more than 30 days, does the rate jump to 20%, or does it stay at 10%? And if it's the 10% rate, what's the base calculation? Employees calculate based on their salary, but a business owner doesn't have a "salary" in the traditional sense. For the 20% rate, I assume the base is already set. I need an answer ASAP. This is urgent.🙏
Can someone please help me out here? I was reading some stuff about this, but I’m totally lost. I use the Silicon Valley pension portal for my clients, and that part works perfectly fine. I haven't signed up for the online Medicare portal because it wasn't mandatory, so I didn't bother pushing for it. Now, a client just told me that after I offboarded an employee through the Silicon Valley system and manually filled out his Medicare termination forms, they rejected them. Apparently, the paperwork is useless because the termination was already processed automatically once I updated the Social Security Administration records. The problem is, now I have zero documentation proving the offboarding happened. I'm not even registered on the online Medicare portal. So, here's my question: since I'm already set up with the Silicon Valley portal, am I actually forced to register for the online Medicare system too? And how on earth do I get copies of these automatic registration and termination documents?
Robert Sanchez6 said:No, it is not mandatory. You can still register for health insurance in person at the local offices; the deadline remains unchanged—eight days for both paper filings and digital submissions.
thanks. I actually called Medicare and they told me the exact same thing. I have no clue why I thought you had to do both.🙂 Honestly, looking at how this works, I'm seriously questioning if I even want to switch over to the digital healthcare system.
I need some clarity here. Is this whole e-health thing mandatory starting April 1st, just like the pension stuff? Or does that rule only apply to people who have more than three dependents? My pension setup is already live, but my health insurance hasn't kicked in yet. I’m hearing it won't even be functional for another month. Now that I’m actually looking closer at the fine print, the pension part is clearly marked as required, but for health insurance, it doesn't say a damn thing.
ruggedmaker2 said:From what I can gather, if you’re looking at bills from this year, you’ve got until September 30th, 2014, to claim that refund.
Personally, I’m not even thinking about filing a single claim until the year is actually over. Once the dust settles, I'll sit down and crunch the numbers to see how much VAT is sitting in each USA state and figure out what the bare minimum is to make a refund worth the headache. Every state plays by its own set of rules, so you really have to double-check everything before you bother sending anything in.
Yeah, I think you're right. The wording basically boils down to: September 30th of the calendar year following the refund period. thanks. p.s. With this kind of chaos going on, I can barely make sense of a single sentence. Honestly, I'm not sure about anything anymore.
ruggedmaker2 said:Wait, what do you mean "until September 30th"? 😕 I haven't even signed up yet, so I haven't dug into all the fine print, but my gut tells me once you're registered, you just submit all your refund requests through the portal.
Look, it’s just a service... and every single country decides its own rules for refunds. The IRS doesn't have anything to do with this side of things. From what I gathered about the seminar, the turnaround for getting your money back is anywhere from 2 to 6 months, depending on which country you're dealing with.
Check out what's listed on the IRS website: •What is the deadline for submitting a sales tax refund request? To claim a sales tax refund within USA states, an American taxpayer must submit an electronic refund request via the online system no later than September 30th of the calendar year following the refund period.
That's what's tripping me up. I don't get it at all.
ruggedmaker2 said:In theory, yeah. To be honest, I haven't really sat down to dig through the whole process yet, but I’m planning to get my act together and wrap my head around it by the end of the year 😁 Here's the link: http://www.irs.gov/vat-regulations-usa...
So you can only file this by September 30th? After that, the door just slams shut? I don't get it.
Brenda Chase3 said:It's pretty straightforward: you just file the corrected version. They will process the most recent submission and essentially disregard the previous one. This happened to me once, and there was no need to call the IRS or anything; you simply resubmit the accurate paperwork.
electrictiger22 said:I was told that I should just submit the corrected version since they basically ignore the previous one—it covers the exact same period, so it's obviously just fixing a mistake—so that's what I did and I haven't run into any issues yet, my records show the updated version is active... just dealing with this situation from May...
I need some help here. I’ve already filed all my sales tax returns on time through the IRS portal. But now, one of my clients just dropped off an invoice from last July—apparently, they "forgot" about it—for some services imported from Canada. Now I have to go back and fix my previous filings. I already sent everything electronically, so how the hell do you actually file an amended return once it's already been submitted online? Thanks for the help.🤷
How do you actually fix an error on a sales tax form through the IRS portal? Maybe someone already covered this, but I haven't had a second to breathe to read through everything yet. Thanks for the help.