Member Since September 2, 2008 , From Binghamton, United States

Recent Activity by Tax Fairy

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Answered: Am retiring at 62 in california but moving to new ...

Check with your current provider to see if they will still cover you after the move, or if they have a branch in NY that you can transfer to. If you have to change companies completely, make sure you ...

Answered: What happens when farm equipment is repossed and ...

The balance of the loan is still due. If the lender forgives the balance of the debt, they may issue a 1099C to the debtor. The debtor then has to report that amount as income unless the debt is ...

Answered: What are my income taxes on 4800.00

If you have no other income, zero. If this is self employment income however, you will owe self employment tax.

Answered: Tax questions - live in nevada and co employed is ...

If you did not work in NY, no. If your employer withheld NYS income tax, you will have to file a non resident return to get it back.

Answered: Is there an energy tax credit for 2012

For solar or wind. The credit for energy improvements to your home (windows, doors, etc.) has expired.

Answered: I'm 65 and 10 credits short of being able to ...

Need to go back to work until you get enough credits in order to get SS. If you're disabled there's a different standard. If you don't have enough credits to get SSD, you may qualify for SSI if your ...

Answered: I am starting a business and will not open ...

You cannot deduct expenses until you've actually started your business. Download Pub 535 from www.irs.gov . Some of the expenses you've already paid may be considered "start up expenses" and are ...

Answered: How much is taxed

Generally none, but it depends on how much you're getting and your other resources. You may be eligible for Medicaid or Medicare depending on your circumstances. If you need Medicare there are ...

Answered: Why do LPL brokers promote Prudential Premier ...

Higher commissions paid on annuity sales than are paid on mutual fund sales. Annuity should only be sold if it makes sense in the person's overall financial plan.

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