10th Annual Tax Thread - 2012

[jstern01]

Okay, this maybe a little convoluted.

I took a job in GA in Aug 2012. So I (not the family) moved to Atlanta. My primary residency is still in Florida. So from Jan until July I earned income in FL, and August until end of the year earned it in GA. Second my wife works full time remotely (home office), earned all of her income in FL.

1. Since GA has a state income tax, is there a particular way (form) I need to file because I only earned income for part of the year. Also can I get a fully refund of the GA income tax since I am not offically a state resident?

2. Also since (at least I think its still allowed), can I deduct the state income tax I paid to GA off my federal taxes?

3. Finally my wife and family will not be moving to GA until after the school year, so I will have to deal with this issue again with her income next year.

Jim

 

[CPA]

Okay, this maybe a little convoluted.

I took a job in GA in Aug 2012. So I (not the family) moved to Atlanta. My primary residency is still in Florida. So from Jan until July I earned income in FL, and August until end of the year earned it in GA. Second my wife works full time remotely (home office), earned all of her income in FL.

1. Since GA has a state income tax, is there a particular way (form) I need to file because I only earned income for part of the year. Also can I get a fully refund of the GA income tax since I am not offically a state resident?

2. Also since (at least I think its still allowed), can I deduct the state income tax I paid to GA off my federal taxes?

3. Finally my wife and family will not be moving to GA until after the school year, so I will have to deal with this issue again with her income next year.

Jim

1. As indicated in the OP, we don't answer state tax questions because of the many differences between states. The best thing to do is consult Georgia Department of Revenue's website.

2. If you itemize, yes.

 

[todpod]

We gets paid on a 1099, last year we could deduct mileage and cell phone is that still the case?

 

[CPA]

We gets paid on a 1099, last year we could deduct mileage and cell phone is that still the case?

yep. I assume you used Schedule C.

 

[EagleKeeper]

We gets paid on a 1099, last year we could deduct mileage and cell phone is that still the case?

yep. I assume you used Schedule C.

And a whole lot more

 

[EagleKeeper]

Okay, this maybe a little convoluted.

I took a job in GA in Aug 2012. So I (not the family) moved to Atlanta. My primary residency is still in Florida. So from Jan until July I earned income in FL, and August until end of the year earned it in GA. Second my wife works full time remotely (home office), earned all of her income in FL.

1. Since GA has a state income tax, is there a particular way (form) I need to file because I only earned income for part of the year. Also can I get a fully refund of the GA income tax since I am not offically a state resident?

2. Also since (at least I think its still allowed), can I deduct the state income tax I paid to GA off my federal taxes?

3. Finally my wife and family will not be moving to GA until after the school year, so I will have to deal with this issue again with her income next year.

Jim

1) You will have to file GA state income taxes and you will not get full $$ dollars back.

2) State income tax paid to GA can be deducted on your Federal return. Doing so will negate the sales tax exemption that you would be entitled to.

3) Correct

 

[Xcobra]

Okay, this maybe a little convoluted.

I took a job in GA in Aug 2012. So I (not the family) moved to Atlanta. My primary residency is still in Florida. So from Jan until July I earned income in FL, and August until end of the year earned it in GA. Second my wife works full time remotely (home office), earned all of her income in FL.

1. Since GA has a state income tax, is there a particular way (form) I need to file because I only earned income for part of the year. Also can I get a fully refund of the GA income tax since I am not offically a state resident?

2. Also since (at least I think its still allowed), can I deduct the state income tax I paid to GA off my federal taxes?

3. Finally my wife and family will not be moving to GA until after the school year, so I will have to deal with this issue again with her income next year.

Jim

From the sound of it, it looks like you may have to file a non-resident Georgia state return for the second half. As suggested, I would look at their website to determine whether you are considered a tax resident. My guess is that you would become a tax resident once you and your family move to Georgia (which is when you will file a part-year resident return).

 

[Ausm]

Do you have any info on Offshore Tax havens?

 

[EagleKeeper]

Do you have any info on Offshore Tax havens?

I have none that can be legitimately provided.

 

[todpod]

And a whole lot more

As in? The more the merrier here.

 

[EagleKeeper]

As in? The more the merrier here.

Many have been laid out in previous tax threads.

Enjoy!

 

[todpod]

then reading i shall go

 

[Mermaidman]

I made a last minute tax-deductible cash donation on 12/31/11 and printed the online confirmation page with that date. The charity later sent an acknowledgment letter in January 2012. Do I get to choose whether to apply the donation to 2011 or 2012?

 

[hclarkjr]

just filled my return out for this year, getting $2221 back this year. efile is not avaiable till janruary 4th.

 

[Xcobra]

I made a last minute tax-deductible cash donation on 12/31/11 and printed the online confirmation page with that date. The charity later sent an acknowledgment letter in January 2012. Do I get to choose whether to apply the donation to 2011 or 2012?

Most individuals are on cash basis, so you'd report that on your 2011 returns (date paid). But if you didn't claim it in 2011, the risk of claiming it in 2012 is pretty low.

 

[alkemyst]

Anyone know if feral cat work is deductable or not? I haven't claimed it yet. My animal charity hits $10k+ a year.

 

[CPA]

Anyone know if feral cat work is deductable or not? I haven't claimed it yet. My animal charity hits $10k+ a year.

Not unless the money/supplies you provide is given to a feral cat charitable organization. If you're just feeding the neighborhood cats, then no.

 

[todpod]

The 2011 tax year link appears broken

 

[EagleKeeper]

The 2011 tax year link appears broken

fixed

 

[s0me0nesmind1]

EagleKeeper - In reference to thread: http://forums.anandtech.com/showthread.php?t=2292662

Few Questions for me and my girlfriend:

Given the current housing problems, ours has gone down in value. I personally do not want to stay in this house for too much longer. It may ultimately end up in taking a bit of loss. Is there ANY way to make up for any losses in tax like the reference thread is saying? Or is that complete BS? Any details is much appreciated.


Also, we have been living together for over a year, so through 2012. We were wondering if there was a way to file jointly just based on living together for tax benefit purposes. Is this possible? If that is not possible, could we possibly go down to the courthouse to get one of those "domestic partners" in early (January) 2013 - and THEN do our 2012 taxes as a joint/household?


Thanks

 

[EagleKeeper]

EagleKeeper - In reference to thread: http://forums.anandtech.com/showthread.php?t=2292662

Few Questions for me and my girlfriend:

Given the current housing problems, ours has gone down in value. I personally do not want to stay in this house for too much longer. It may ultimately end up in taking a bit of loss. Is there ANY way to make up for any losses in tax like the reference thread is saying? Or is that complete BS? Any details is much appreciated.
As I posted, what you were told is complete BS for a personal residence


Also, we have been living together for over a year, so through 2012. We were wondering if there was a way to file jointly just based on living together for tax benefit purposes. Is this possible? If that is not possible, could we possibly go down to the courthouse to get one of those "domestic partners" in early (January) 2013 - and THEN do our 2012 taxes as a joint/household?

Unless her income level is low enough to qualify as a dependent, you can not file as HOH.

Legal status for filing is determined at 23:59 on Dec 31st. If you want to tie the knot before then; you can qualify as joint.

However, each can file as single and claim a proportion of the taxes and interest of the house. The proportion should be based on the same factors described in a previous post in this thread.



Thanks

answer in bold.

The only option on the house would be to convert it to a rental property for a few years.

 

[mwtgg]

answer in bold.

The only option on the house would be to convert it to a rental property for a few years.

I'm not exactly sure what that would do for his situation as his basis in the converted rental property would be its FMV on date of conversion.

 

[EagleKeeper]

I'm not exactly sure what that would do for his situation as his basis in the converted rental property would be its FMV on date of conversion.

Potential to reduce his losses/cash flow over the next few years.

 

[JasonK]

Tuition Reimbursement from Company:

I have run into an odd situation and need some tax guidance.

My company reimburses me up to $8,000 a year on job related courses. Last year I claimed up to the maximum amount. Turns out I had selected the wrong questions on my applications, turning approximately $4700 dollars of taxable income withheld from my paycheck for taxes.

I filed an appeal with the company's tuition program that manages this. Their deadline to file an appeal for correction was by end of November. I filed my appeal and met that deadline and got a confirmation of appeal review stating 10 days minimum.

Over 10 working days pass, i send an email seeking status in December, no response. January comes, I call and find out they did not process my appeal due to whatever error on their part, and now hinting i am SOL because they missed my appeal deadline for correction on taxable amount (job related classes, 3 IRS questions).

Question: If my appeal is ultimately rejected as a result of them not processing my appeal in a timely fashion, do I have any capability to adjust accordingly come tax file time? Or am I screwed over on 1-1.5k in taxes because I made a mistake, as well as the tuition handling company not processing my appeal.

Thanks !

 

[CPA]

Tuition Reimbursement from Company:

I have run into an odd situation and need some tax guidance.

My company reimburses me up to $8,000 a year on job related courses. Last year I claimed up to the maximum amount. Turns out I had selected the wrong questions on my applications, turning approximately $4700 dollars of taxable income withheld from my paycheck for taxes.

I filed an appeal with the company's tuition program that manages this. Their deadline to file an appeal for correction was by end of November. I filed my appeal and met that deadline and got a confirmation of appeal review stating 10 days minimum.

Over 10 working days pass, i send an email seeking status in December, no response. January comes, I call and find out they did not process my appeal due to whatever error on their part, and now hinting i am SOL because they missed my appeal deadline for correction on taxable amount (job related classes, 3 IRS questions).

Question: If my appeal is ultimately rejected as a result of them not processing my appeal in a timely fashion, do I have any capability to adjust accordingly come tax file time? Or am I screwed over on 1-1.5k in taxes because I made a mistake, as well as the tuition handling company not processing my appeal.

Thanks !

Are you saying you want to adjust your W2 if they reject your appeal?