Taxable Income Pension
Question: Financial aid, New York State Tuition Assistance Program: What is private pension and annuity income?
I recently received a message from HESC that said:
The New York State Higher Education Services Corporation (HESC)
has processed your application for the Tuition Assistance Program
(TAP) and/or New York State scholarships. Effective with the 2010-11
academic year, any private pension and annuity income excluded on your
or your parent’s New York State tax return will be included in
Taxable New York State Income for the purpose of determining TAP
award eligibility.If you, your spouse (if applicable) and your parents DID NOT have a
private pension and annuity income exclusion in 2009, no action is
necessary.How do I confirm that this is not necessary in my case… Or find the form to send in if it is?
Answer: Look at your parent’s tax return at lines 16a and 16b. Line 16a shows the total amount of pension or annuity funds received and line 16b shows the taxable amount. If you have numbers on those lines, and they are different, then you might have non-taxable pension and annuity income to report. But, the HESC only asks about private pensions, so you still might not have to report non-taxable pension or annuity income if it comes from a public source. Generally, pensions from military and government employees are considered to be public pensions. Pensions from corporations are considered private.
Abbott lifts bar on PM over business taxes
THE Coalition plans to pare back its proposed tax slug on big business, intended to fund its paid parental leave scheme, as the cost of living war between the two main parties continues to escalate.
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Tax Refund Overseas
Question: Do overseas military contractors need to pay taxes if overseas over 330 days?
I took on a military contract overseas for a company based out of Texas. I lived on the German economy (paid rent, paid utilities, etc) I even bought a car (through the military car sales program) but I did pay taxes on it once I imported it. As far as living expenses went, I was paid Per Diem. I was told by some of the guys I worked with we wouldn’t have to pay taxes. At all. for a short period I paid taxes but stopped. One tax firm says I’m getting a large amount refunded while another says I owe a larger amount. what are the rules on working overseas as a military contractor?
Answer: Yes! You qualify for the Foreign Earned Income and Housing: Exclusion – Deduction in publication 54. As long as you meet the following requirements:
Your tax home must be in a foreign country.
You must have foreign earned income.
You must be either:
A U.S. citizen who is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year,
A U.S. resident alien who is a citizen or national of a country with which the United States has an income tax treaty in effect and who is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year, or
A U.S. citizen or a U.S. resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months.
See Publication 519 to find out if you are a U.S. resident alien for tax purposes and whether you keep that alien status when you temporarily work abroad.
If you are a nonresident alien married to a U.S. citizen or resident alien, and both you and your spouse choose to treat you as a resident alien, you are a resident alien for tax purposes. For information on making the choice, see the discussion in chapter 1 under Nonresident Alien Spouse Treated as a Resident.
Waiver of minimum time requirements. The minimum time requirements for bona fide residence and physical presence can be waived if you must leave a foreign country because of war, civil unrest, or similar adverse conditions in that country. This is fully explained under Waiver of Time Requirements, later.
You will need to fill out form 1040 and attach form 2555. Instructions are on the form.
check the link below for more information.
China Introduces Overseas Tourists Tax Refund,
China’s Ministry of Finance has disclosed that foreign visitors to Hainan will benefit from a tax refund on goods purchased on the island, with effect from January 1, 2011.
global crisis
Help Tax Threshold
Question: Would a weight tax help us all here in the UK
Given Mr Brown’s obvious green credentials and a will to help all of the world, why not set a threshold limit for people’s weights?
Larger people are obviously a greater drain on the world’s scarce resources, and a potential source of income for this government.
People above the limit would pay more tax, and people below it could apply for “tax credits” if they could understand how to.
What do you think?
Answer: well what a cool question
but why stop larger people what about peolpe with large noses
or big feet or tall people ,small people the list could go on and on
or why not tax people for using yahoo or msn ?
APNewsBreak: Nev. benefit extension won’t help all
A compromise between the White House and congressional Republicans to extend unemployment benefits won’t help Nevadans nearing the end of their 99 weeks of eligibility, a state official said Tuesday.
Tax changes may help debt management
Tax Refund Leaving Uk
Question: I am leaving Uk for 3 yrs to work abroad. Is there any benefits or tax credit/refunds i ca get?
Answer: When we left England 5 yeras ago my husband got a tax rebate, phone your tax office up before you go. Enjoy yourself abroad.
Live! South Africa wins toss, India will bat
South Africa wins the toss and have invited India to bat first in the first Test match at the Centurion on Thursday. The Test at Super Sport Park was delayed for nearly four hours because of a wet outfield caused by heavy rain.
Tax Refund Uk
Question: UK Tax Refund for non-residents.?
In November 2008 I send P85s and P45 to HM Revenue&Customs to refund the taxes(i am from Latvia)As they say Anyone who has lived and worked in the UK may be eligible to claim for a tax refund.Still nothing.They just send me letter that they changed my tax code and that they worked my personal allowance.What shall i do to get my taxes back?
Answer: Some tax offices have 8-10 weeks post on hand, so I think you will have to wiat longer Im afraid. The issue of the new tax code for next year is an automatic thing and does not mean they have looked at your claim.
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Tax Refund UK Claim Your Taxes Back Possible Thousands Of Pounds Free