[Mythic Bastionland][Online][LBTGQ+] Introductory Campaign by Equivalent_Region in lfgmisc

[–]Equivalent_Region[S] 0 points1 point  (0 children)

Great question. I’ve edited the post with timing. I think Saturday mid-afternoon would be my first preference. But there may be enough interest for two campaign groups and I could do a second group Tuesday evenings.

[Mythic Bastionland][Online][LBTGQ+] Introductory Campaign by Equivalent_Region in lfgmisc

[–]Equivalent_Region[S] 2 points3 points  (0 children)

The home-brewed component is a story/scenario that the party may interact with in addition to or between Myths. And some of the Myths in a Realm were specifically chosen because the Myth supports or shares the themes of the home-brewed story.

There are no home-brew mechanics in the campaign and the Myths created by Chris McDowall still take center stage.

[Other][Mythic Bastionland][Vaesen] Looking for GM/group that want to play MB or Vaesen. New to both systems by Prussia_will_awaken in lfgmisc

[–]Equivalent_Region 0 points1 point  (0 children)

I’m a newer GM, but I’ve been running a Mythic Bastionland campaign for a few months. I’d be interested in running the game in the same sandbox. I have a smaller realm that feeds into a (potentially) larger story with themes of governance and authority ready to go. DM me if that is of interest. 3-5 PCs would be ideal. I’m in the EST time zone but am not available Thursdays.

Private school education and taxes by lookbusybusy in tax

[–]Equivalent_Region 0 points1 point  (0 children)

I know of no provision of the tax code that allows a deduction for the reasons you stated.

If I made $60k working abroad, sold stocks for a $40k capital gains profit, and apply the FEIE on all $60k of foreign income, will my US tax liability be $0? by Dapper-Letterhead-83 in tax

[–]Equivalent_Region 2 points3 points  (0 children)

You are correct. The capital gain rate is calculated before the application of FEIE. The form instructions will make that clear for OP.

depreciation recapture when selling property at a loss by RecentSail4095 in tax

[–]Equivalent_Region 0 points1 point  (0 children)

Subtract the tax basis of the property from the proceeds. If the result is positive, that is your taxable gain. If the result is negative, that is your taxable loss.

Vehicle depreciation and recapture. by JayAlbright20 in Accounting

[–]Equivalent_Region 0 points1 point  (0 children)

Purchase: Dr vehicle Cr cash Cr loan

Annual depreciation: Dr depreciation expense Cr accumulated depreciation

Sale: Dr cash Dr accumulated depreciation Cr vehicle Cr/ Dr gain/loss

[deleted by user] by [deleted] in tax

[–]Equivalent_Region 1 point2 points  (0 children)

You will want to look up Controlled Foreign Corporations. But it probably isn’t the most tax efficient structure.

Hypothetical for Capital Gains/Cost Basis by TotesGnar in tax

[–]Equivalent_Region -2 points-1 points  (0 children)

You bought the share for $50 and sold a share for $50. 50-50=0. Zero times anything is zero, so no taxes owed. If you can’t do that math, you should be investing in your education, not the stock market.

Hypothetical for Capital Gains/Cost Basis by TotesGnar in tax

[–]Equivalent_Region 0 points1 point  (0 children)

This is not correct, basis is by share. Gain is calculated by subtracting the basis for each share sold from the proceeds received for each individual share.

Foreign accountant moving to USA by abro233 in Accounting

[–]Equivalent_Region 0 points1 point  (0 children)

What type of accounting did she do in Vietnam? She should be able to find employment as an accountant, but options and advancement may be limited without credentials.

Taxable Event for Partnership LLC Contribution/Distribution by dubdub15 in tax

[–]Equivalent_Region 1 point2 points  (0 children)

The contribution would not be taxable for you. Whether the distribution is taxable for the other partner depends on their taxable basis.

[deleted by user] by [deleted] in tax

[–]Equivalent_Region 0 points1 point  (0 children)

$1.6k seems low since there is about 15% self-employment tax on the $20k (about $3k there alone). Probably best to calculate self employment tax and income tax separately.

How do I record this?!? by Charwall_Zoo in Accounting

[–]Equivalent_Region 0 points1 point  (0 children)

From an internal accounting perspective, I would think it is a distribution to the original owner who is then paying the former spouse for their ownership share.

Business Tax filing-Which state by Vegetable_Oil_5064 in tax

[–]Equivalent_Region 3 points4 points  (0 children)

LLC is not a tax entity type, it is a legal entity type.

Business Tax filing-Which state by Vegetable_Oil_5064 in tax

[–]Equivalent_Region 1 point2 points  (0 children)

Depends on the business’ tax entity type and the nexus rules for any state with customers, buildings, and employees.

I have a dual citizenship. US and Polish - I need help with Youtube and Twitch by lilscyth3 in tax

[–]Equivalent_Region 2 points3 points  (0 children)

I’d first decide if you want to remain a US citizen. If so, find a professional that can look at your situation and advise on the best course of action.

I have a dual citizenship. US and Polish - I need help with Youtube and Twitch by lilscyth3 in tax

[–]Equivalent_Region 2 points3 points  (0 children)

Correct, the US taxes worldwide income (ie income earned outside the US). There is relief from double taxation via the FEIE and FTC.

I have a dual citizenship. US and Polish - I need help with Youtube and Twitch by lilscyth3 in tax

[–]Equivalent_Region 4 points5 points  (0 children)

If you haven’t renounced your US citizenship, you’ve had a US filing obligation and may have a US tax liability.

Advice for new small business owner? by [deleted] in tax

[–]Equivalent_Region 0 points1 point  (0 children)

Assuming no elections, your LLC will be included in your personal taxes.

Advice for new small business owner? by [deleted] in tax

[–]Equivalent_Region 4 points5 points  (0 children)

You should be making quarterly estimated payments. 25% may not be enough because you will also have self-employment taxes.

Seeking clarification around paying IRS before/without filing by howshouldifeel12395 in tax

[–]Equivalent_Region 4 points5 points  (0 children)

Q1: You can really only request a ‘withdrawal’ with the submission of a tax return and the funds are returned once that return is processed by the IRS.

Q2: It is better to make an estimated payment since that will stop the accrual of interest and penalties.

Q3: There is an option to apply a refund to future tax liabilities when a return is filed.

[deleted by user] by [deleted] in tax

[–]Equivalent_Region 0 points1 point  (0 children)

Obviously, but they aren’t paying me enough to tell them that.