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Cash *********
Healthcare professional
Q. Hello, I am a W2 employee who works full-time for a non-profit. My partner is a full-time W2 employee that works as a hair stylist. We are not married and my partner owns her own home. We reside in Massachusetts. Are there any tax deductions that we could take advantage of given our professions the state we live in and the fact that we are not married and have children? Thank you, Cash
Deductions for mortgage interest, property taxes, and home-related expenses may be available to you and your partner. If you have dependents, you could be eligible for the Child Tax Credit, which offers a credit of up to $2,000 per child. The Earned Income Tax Credit may also apply based on your income and family size. As W2 employees, you are not entitled to business deductions. To ensure you are maximizing your tax benefits, consider consulting with a CPA.
Gunawan ******
Freelance software developer
Q. I am working on a project that is corp-to-corp. I provide project management and development consulting services. I have setup an S-Corp in December and started paying myself a salary starting in 2024. I am projecting to make about $150,000 in billing revenue for this year. How much should I pay myself in salary and distribution? I am thinking of a formula of 1/3 in salary, 1/3 in distribution, and 1/3 to cover business deductible expenses. Please advise.
Although there is no set rule, a common practice is to split salary and distribution in a 60-40 ratio.
Ethan *****
Freelance marketer
Q. I received money through apply pay for a service. How do I claim this on my taxes? Apple Pay can’t send a 1099 form and the business is unable to send me a 1099 since they paid it through Apple Pay. Just confused on if I can claim it since and it was over $600. Thanks.
Make sure to report any income obtained through Apple Pay on your tax return, even if a 1099-K was not issued. Disclosing all income to the IRS is crucial, irrespective of whether you have the correct documentation. Claim the income and provide the required information when you file your taxes.
Moussa
Seller (Online or independent seller)
Q. I am looking to get paid online and hence I am setting up a company in Delaware as an LLC to be able accept payment online. Stripe offers ATLAS services to set up a company and do the paperwork. I would like to know as a non resident, owner of an LLC in Delaware do I pay any taxes if I am setting up this company?
Non-resident owners of LLCs in Delaware are required to pay federal income taxes on any income generated within the US, regardless of their residency.
Karen ******
Seller (Online or independent seller)
Q. I am sole Proprietor who owns a Leadership Coaching/Training business. I took over a colleagues business 1/1/23. The agreement for the purchase of this business is that I pay a quarterly commission to the colleague for assessment products that I acquired from her business. I sent her a 1099 MiSC. Where does this amount go on my Schedule C? Does it get recorded in Part 2, line 10 Commissions and Fees?
Part 2, Line 10 for Commissions and Fees on Schedule C is where the figure should be placed.
Keegan
Freelance software developer
Q. Hi - I am employed with a company that provides RSUs as compensation. A certain number of shares vested last year. My company also sells several shares at vesting to cover payroll tax withholdings. I received a 1099-B form from my brokerage with the full value of the vested RSUs in Box B. When I enter this into my tax software, my refund went down considerably, which leads me to believe it's accounting for those same taxes that were already withheld, a second time. How should I be reporting my 1099-B in this case?
Ensure that you report the withheld tax for the sale of vested shares in Box 4 as Federal income tax withheld. When inputting your 1099-B details, account for the proceeds from the sale of RSUs, except for shares sold for payroll taxes. To prevent double taxation, it is crucial to report with precision. The amount withheld for taxes should be indicated in your W-2 form.
Cash *********
Healthcare professional
Q. Hello, I am a W2 employee who works full-time for a non-profit. My partner is a full-time W2 employee that works as a hair stylist. We are not married and my partner owns her own home. We reside in Massachusetts. Are there any tax deductions that we could take advantage of given our professions the state we live in and the fact that we are not married and have children? Thank you, Cash
Deductions for mortgage interest, property taxes, and home-related expenses may be available to you and your partner. If you have dependents, you could be eligible for the Child Tax Credit, which offers a credit of up to $2,000 per child. The Earned Income Tax Credit may also apply based on your income and family size. As W2 employees, you are not entitled to business deductions. To ensure you are maximizing your tax benefits, consider consulting with a CPA.
Gunawan ******
Freelance software developer
Q. I am working on a project that is corp-to-corp. I provide project management and development consulting services. I have setup an S-Corp in December and started paying myself a salary starting in 2024. I am projecting to make about $150,000 in billing revenue for this year. How much should I pay myself in salary and distribution? I am thinking of a formula of 1/3 in salary, 1/3 in distribution, and 1/3 to cover business deductible expenses. Please advise.
Although there is no set rule, a common practice is to split salary and distribution in a 60-40 ratio.
Ethan *****
Freelance marketer
Q. I received money through apply pay for a service. How do I claim this on my taxes? Apple Pay can’t send a 1099 form and the business is unable to send me a 1099 since they paid it through Apple Pay. Just confused on if I can claim it since and it was over $600. Thanks.
Make sure to report any income obtained through Apple Pay on your tax return, even if a 1099-K was not issued. Disclosing all income to the IRS is crucial, irrespective of whether you have the correct documentation. Claim the income and provide the required information when you file your taxes.
Moussa
Seller (Online or independent seller)
Q. I am looking to get paid online and hence I am setting up a company in Delaware as an LLC to be able accept payment online. Stripe offers ATLAS services to set up a company and do the paperwork. I would like to know as a non resident, owner of an LLC in Delaware do I pay any taxes if I am setting up this company?
Non-resident owners of LLCs in Delaware are required to pay federal income taxes on any income generated within the US, regardless of their residency.

Facts and figures about
Presque Isle County, Michigan

michigan
population

13,093

County Population

population

Rogers City

County Seat

population

2,573 sq mi

County area

population

6%

Presque Isle County sales tax rate

😵‍💫 1 Michigan CPA for every 300 residents results in high CPA rates

😓 19 million taxpayers missed the filing deadline last year

😨 30 million taxpayers miss deductions without the right tax expert

😣 Almost 1/2 of all Americans pay more tax than necessary

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Michigan State Income Tax Rates & Brackets for 2023

The following tables represents Michigan's income tax rates and tax brackets:

SINGLE FILER

Brackets

Rates

$0+

4.25%

MARRIED FILING JOINTLY

Brackets

Rates

$0+

4.25%

Filing Status

Standard Deduction Amt.

Single

n.a.

Couple

#VALUE!

Presque Isle county Sales Tax Rates for 2023

City

Sales Tax Rate

Tax Jurisdiction

Rogers City

6%

Presque Isle

Onaway

6%

Presque Isle

Posen

6%

Presque Isle

Presque Isle

6%

Presque Isle

Millersburg

6%

Presque Isle

Hawks

6%

Presque Isle

Frequently Asked Questions

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