Author Topic: any accountants out there that i can ask a question? (Read 498194 times)

avrumy · « **Reply #340 on:** June 15, 2014, 09:19:28 PM »

No- If he files MFS then hell only get a 1k refund if he files MFJ (which he cant do now) then he can get teh EIC which is about another $3k.

Blazer · « **Reply #341 on:** June 15, 2014, 09:54:03 PM »

Why not just wait till he gets the SS #

henche · « **Reply #342 on:** June 15, 2014, 10:00:43 PM »

Doesn't it go by what was true during the year? Would they give an EITC for someone who wasn't a citizen during the year just because they became a citizen before filing?

churnbabychurn · « **Reply #343 on:** June 15, 2014, 10:05:28 PM »

Quote from: avrumy on June 15, 2014, 09:06:47 PM

Any advice on the following situation- someones wife is a foreigner and will have a social security number later this year. If they file now -meaning just MFS and she is not on there- will they be able to amend later on and put her on with social in order to get the EIC (they have 1 child)?

Yes, you can file now and amend later when she gets a ss.
As long as they are mfj and she elects to be taxed as a us citizen they can get EIC.

#mho

avrumy · « **Reply #344 on:** June 16, 2014, 10:48:09 AM »

Quote from: henche on June 15, 2014, 10:00:43 PM

Doesn't it go by what was true during the year? Would they give an EITC for someone who wasn't a citizen during the year just because they became a citizen before filing?

If you recall in 2008 or so every Israeli who was eligible for a social security number came to America and then files the last 3 yrs of taxes in order to get the credits (money). isnt that the same idea?

henche · « **Reply #345 on:** June 16, 2014, 12:13:02 PM »

Quote from: avrumy on June 16, 2014, 10:48:09 AM

If you recall in 2008 or so every Israeli who was eligible for a social security number came to America and then files the last 3 yrs of taxes in order to get the credits (money). isnt that the same idea?

Not at all. They were already eligible for the credit, they just couldn't file bec didn't have an ss number.

mgarfin · « **Reply #346 on:** June 16, 2014, 12:25:22 PM »

Can someone pls verify this for me

If I buy merchandise to resell but i'm still paying sales tax, do I just calculate it in to buy cost or do I need to calculate it different for taxes as income or corp tax?

henche · « **Reply #347 on:** June 16, 2014, 12:29:03 PM »

Quote from: mgarfin on June 16, 2014, 12:25:22 PM

Can someone pls verify this for me

If I buy merchandise to resell but i'm still paying sales tax, do I just calculate it in to buy cost or do I need to calculate it different for taxes as income or corp tax?

Why are you paying sales tax on items for resale?

avrumy · « **Reply #348 on:** June 16, 2014, 12:32:46 PM »

I recall where one party was US and other wasn't- were they coming for EIC or additional child tax credit?

henche · « **Reply #349 on:** June 16, 2014, 12:41:33 PM »

Quote from: avrumy on June 16, 2014, 12:32:46 PM

I recall where one party was US and other wasn't- were they coming for EIC or additional child tax credit?

Party?

Were the people filing the return US citizens already? Like by being born to US parents who hadn't come back to the US in 10 years?

avrumy · « **Reply #350 on:** June 16, 2014, 12:43:24 PM »

Party- meaning one spouse. and no they were not filing anything up until then.

henche · « **Reply #351 on:** June 16, 2014, 12:59:03 PM »

Dunno anything about it. But it sure makes sense to distinguish between people who were already citizens and just couldn't prove it and those who weren't citizens.

Someone just pm'ed me a cool tax court case disallowing the credits dor the years before the kids filed for citizenship even though they were born to US parents

churnbabychurn · « **Reply #352 on:** June 16, 2014, 01:12:39 PM »

The spouse doesn't need to be a citizen if she elects to be taxed as one.
No?

avrumy · « **Reply #353 on:** June 16, 2014, 01:15:09 PM »

Quote from: churnbabychurn on June 16, 2014, 01:12:39 PM

The spouse doesn't need to be a citizen if she elects to be taxed as one.
No?

Correct- but the original question is if they want to get the EIC then she has to have a social security number

churnbabychurn · « **Reply #354 on:** June 16, 2014, 01:25:30 PM »

Quote from: avrumy on June 16, 2014, 01:15:09 PM

Correct- but the original question is if they want to get the EIC then she has to have a social security number

So why the whole discussion about citizenship? Wait til the SS comes through and 1040x.

avrumy · « **Reply #355 on:** June 16, 2014, 01:39:49 PM »

Quote from: churnbabychurn on June 16, 2014, 01:25:30 PM

So why the whole discussion about citizenship? Wait til the SS comes through and 1040x.

I was thinking why not wait until SS comes in and then file. why do twice and maybe raise some flags?

bubkiz · « **Reply #356 on:** June 16, 2014, 03:18:42 PM »

Quote from: avrumy on June 16, 2014, 10:48:09 AM

If you recall in 2008 or so every Israeli who was eligible for a social security number came to America and then files the last 3 yrs of taxes in order to get the credits (money). isnt that the same idea?

Was that legit? Doesnt the child have to reside in the US for a certain amount of days of the year?

avrumy · « **Reply #357 on:** June 16, 2014, 03:27:34 PM »

Quote from: bubkiz on June 16, 2014, 03:18:42 PM

Was that legit? Doesnt the child have to reside in the US for a certain amount of days of the year?

Thats for the EIC only I believe.

mgarfin · « **Reply #358 on:** June 16, 2014, 03:54:41 PM »

Quote from: henche on June 16, 2014, 12:29:03 PM

Why are you paying sales tax on items for resale?

As I'm buying the items in a brick and mortar shop.

churnbabychurn · « **Reply #359 on:** June 16, 2014, 03:56:03 PM »

Quote from: mgarfin on June 16, 2014, 03:54:41 PM

As I'm buying the items in a brick and mortar shop.

You should file a form as a reseller and get it reimbursed.
Or something like that...