Re: [android-developers] Re: Android Development Income Tax Question
On 22 January 2011 09:26, Zsolt Vasvari zvasv...@gmail.com wrote: The US is the only country in the world that taxes their own citizens on income earned overseas No. Every country does that. -- You received this message because you are subscribed to the Google Groups Android Developers group. To post to this group, send email to android-developers@googlegroups.com To unsubscribe from this group, send email to android-developers+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/android-developers?hl=en
Re: [android-developers] Re: Android Development Income Tax Question
On Fri, Jan 21, 2011 at 1:28 AM, Zsolt Vasvari zvasv...@gmail.com wrote: Does Google send us a W-2? No. At least last tax season they didn't. Don't rely on any ad companies to do it either. Basically it's the honor system it appears. Again, talk to a professional you trust and always err on the side of caution. -- You received this message because you are subscribed to the Google Groups Android Developers group. To post to this group, send email to android-developers@googlegroups.com To unsubscribe from this group, send email to android-developers+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/android-developers?hl=en
Re: [android-developers] Re: Android Development Income Tax Question
On Fri, Jan 21, 2011 at 10:22 AM, DanH danhi...@ieee.org wrote: True -- anyone who's able to read programming manuals should be able to penetrate the tax instructions sufficiently to handle this. Just be aware that there IS paperwork that needs to be done. And don't count on the money not being reported and try to hide it -- in theory Google and others should be providing you with a 1099, and they'll send the same info to the government. If you don't file the right form the tax man might come knocking. Also, for those who have made any significant amount of income, you should probably be making quarterly payments throughout the year, or risk additional fees at the end of the year. -- You received this message because you are subscribed to the Google Groups Android Developers group. To post to this group, send email to android-developers@googlegroups.com To unsubscribe from this group, send email to android-developers+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/android-developers?hl=en
Re: [android-developers] Re: Android Development Income Tax Question
On Fri, Jan 21, 2011 at 10:36 AM, Justin Giles jtgi...@gmail.com wrote: Also, for those who have made any significant amount of income, you should probably be making quarterly payments throughout the year, or risk additional fees at the end of the year. Can you define significant for those of us whose eyes glaze over at the mean mention of doing taxes? - TreKing http://sites.google.com/site/rezmobileapps/treking - Chicago transit tracking app for Android-powered devices -- You received this message because you are subscribed to the Google Groups Android Developers group. To post to this group, send email to android-developers@googlegroups.com To unsubscribe from this group, send email to android-developers+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/android-developers?hl=en
Re: [android-developers] Re: Android Development Income Tax Question
On Fri, Jan 21, 2011 at 10:39 AM, TreKing treking...@gmail.com wrote: On Fri, Jan 21, 2011 at 10:36 AM, Justin Giles jtgi...@gmail.com wrote: Also, for those who have made any significant amount of income, you should probably be making quarterly payments throughout the year, or risk additional fees at the end of the year. Can you define significant for those of us whose eyes glaze over at the mean mention of doing taxes? Here are some guidelines http://www.irs.gov/businesses/small/article/0,,id=110413,00.html Basically if after all of your deductions, credits, income, etc. are taken into account, if you owe more than $1000 (ie: not getting a refund) then you should have been or should for future years be paying your estimated taxes. There are some fines that could go into affect if you owe more than a certain amount. I'm not sure what those are though. I think they are a percentage of what is owed or something. -- You received this message because you are subscribed to the Google Groups Android Developers group. To post to this group, send email to android-developers@googlegroups.com To unsubscribe from this group, send email to android-developers+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/android-developers?hl=en
Re: [android-developers] Re: Android Development Income Tax Question
On Fri, Jan 21, 2011 at 10:55 AM, Justin Giles jtgi...@gmail.com wrote: Here are some guidelines http://www.irs.gov/businesses/small/article/0,,id=110413,00.html Thanks. You know what, I'm going back to TurboTax, going to fill out everything to the best of my ability, then going to pray. And if the IRS comes knocking, I'll play stupid. What are these 'taxes' you speak of!? - TreKing http://sites.google.com/site/rezmobileapps/treking - Chicago transit tracking app for Android-powered devices -- You received this message because you are subscribed to the Google Groups Android Developers group. To post to this group, send email to android-developers@googlegroups.com To unsubscribe from this group, send email to android-developers+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/android-developers?hl=en
Re: [android-developers] Re: Android Development Income Tax Question
The IRS will ALWAYS give you the benefit of the doubt the FIRST YEAR ONLY. In fact, according to the rules the need to file quarterly only kicks in IF you owed more than $1,000 the previous year... You generally won't be penalized if you fail to file at the end of the first quarter if you haven't filed your taxes for the previous year yet because you may not even know you owe more than $1,000 (this is not law just the IRS guidelines). They may access the penalties but they will always waive them if you talk to them (nicely). What you should do is figure out the rough amount you would owe just before the end of the year... and send them enough money to make sure you owe less than $1,000 when you file the taxes. If you do that, you will never trigger the requirement to file quarterly and it saves you a bunch of work. Again.. this is not law... but it is how it works. For what it's worth.. I'm not an accountant (but then most accountants actually know VERY LITTLE about taxes).. but I did operate a rather large income tax franchise for several years, and I've only met one accountant who knew more about U.S. taxes than I did, compared to about 200-300 who knew a lot less. In general... if you do use an accountant, get one who specializes in business taxes. A normal accountant just does not know much about them... even if they tell you they do. When I had the tax franchise, every year we would get 40-50 customers coming in and we would have to file amendments to their previous years taxes because the accountants had done such a lousy job. In one case, we amended the previous 3 years and got a woman over $50,000 back after her accountant screwed it up so badly. Sincerely, Brad Gies --- Bistro Bot - Bistro Blurb http://bgies.comhttp://nocrappyapps.com http://bistroblurb.com http://forcethetruth.com http://ihottonight.com --- Everything in moderation, including abstinence (paraphrased) Every person is born with a brain... Those who use it well are the successful happy ones - Brad Gies Adversity can make or break you... It's your choice... Choose wisely - Brad Gies Never doubt that a small group of thoughtful, committed people can change the world. Indeed. It is the only thing that ever has - Margaret Mead On 21/01/2011 12:14 PM, DanH wrote: Basically, if you make enough that you'd end up owing the tax man more than an nominal sum at the end of the year, you need to make estimated income tax payments. However, if you have a day job that has regular withholding, you can probably up the amount of withholding (eg, declare fewer exemptions on your W4) and not have to make the separate payments. Also, the IRS gives you something of a grace period for your first year (though the rules on that are kind of fuzzy). In my case I have to make estimated state tax payments on my 1099 income, but my federal is covered by the withholding from my pension. Using something like TurboTax is a good idea. Generally it will lead you through all the right steps (although the recent year versions have gone overboard on guiding you, to the point that you sometimes want to drop-kick the whole thing). On Jan 21, 10:39 am, TreKingtreking...@gmail.com wrote: On Fri, Jan 21, 2011 at 10:36 AM, Justin Gilesjtgi...@gmail.com wrote: Also, for those who have made any significant amount of income, you should probably be making quarterly payments throughout the year, or risk additional fees at the end of the year. Can you define significant for those of us whose eyes glaze over at the mean mention of doing taxes? - TreKinghttp://sites.google.com/site/rezmobileapps/treking - Chicago transit tracking app for Android-powered devices -- You received this message because you are subscribed to the Google Groups Android Developers group. To post to this group, send email to android-developers@googlegroups.com To unsubscribe from this group, send email to android-developers+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/android-developers?hl=en
