Join #1 A.I. tax service for freelancers

Resources

Home › Ask a CPA › Texas › Collingsworth

CPAs WHO TRULY HAVE YOUR BACK

Collingsworth County, Texas: The Ultimate CPA Resource for Business Tax Services in the county

Got a tax question?

Ask our licensed CPA team. Responses within 1 business day.

Step 1/2

Are you self-employed?

This includes freelancers and business owners.

⚡️ Powered by

Want to add this helpful tool to your personal blog?
</>Embed this widget

David *****

Freelance Designer

Q. Hello - I have 2 rental properties. One is my domicile rented 2 months of the year that makes a net profit. The other is a vacation property that was rented 189 days and used 28 days that had a net loss. Can that net loss be used to offset the other net profit? Turbotax keeps returning a zero net profit rather than a loss. Thank you

For tax purposes, you have the option to use the net loss from your vacation property to offset the net profit from your domicile rental.

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?

The amount should be entered on Part 2, Line 10 under Commissions and Fees on Schedule C.

Lexi

Event planner

Q. Hi! I’m wondering how 1099 Ks will be taxed in 2024. I host a fundraiser through eventbrite and we will raise about 5k or more. This used to be outside the taxable limit, but know I know that it’s going to be lower. If I donate all the money (since it’s a fundraiser) am I still taxed?

Earnings reported on a 1099-K are subject to self-employment taxes. Should you organize a charity function and contribute all profits to an authorized charitable entity, you could potentially deduct the donation from your taxable income. This action has the potential to decrease your tax liability.

Chris

Real-estate agent

Q. I would like to know the tax implications of “gifting” money. I know there is a annual amount that you can give every year, however, I want to do a larger amount, say $100K. Now I know that an additional Form 709 would have to be filed, which is fine. I just want to know if there are any tax consequences for the donor and the recipient?

Exceeding the $17,000 annual gift tax exclusion requires filing Form 709 with the IRS. Although you may not be immediately responsible for gift taxes, any gifts surpassing $12.92 million in your lifetime will be taxed. Generally, donors are accountable for gift taxes. Visit the IRS FAQs on gift taxes for additional information.

Amarnath *******

Freelance software developer

Q. Hi, I'm a student F1 visa and I am graduating soon. A company is offering me a freelance position for the first-year of my OPT. I would like to know what my income would look like after taxes. Since I have been in the US for less than 2 years, do I still have to pay the self-employment tax? This tax seems to be for Social Security and medicare, neither of them apply to me. Let's say my deductions would be in the ballpark of $6-10k (partial rent,utilities, medical insurance etc). What percentage of me income would be left after taxes. I'm based out of Utah, and am considering moving to a place like Texas or Florida to save a bit more money

Ensure you have detailed records of your freelance income for tax purposes and consult with a tax expert for guidance.

Todd

Healthcare professional

Q. I received my 2023 Tax statement on my non-retirement mutual funds. They split the dividends tax that I owe Equally between qualified dividends and ordinary dividends. They did this on all of the funds that I have that pay dividends. How can the ordinary and qualified dividends be the Exact Same amount split equally between each mutual fund ? I would figure since I've had the funds for years and years most of the dividends would be taxed at the qualified rate but instead the brokerage I use just takes the total amount of dividends on each fund and splits it 50 percent to qualified and 50 percent to ordinary. I get taxed more on the ordinary so this doesn't seem fair. Is this something that is normal or should I report it and if so to whom ? Thank you very much !

The dividends you receive include both qualified and non-qualified dividends, all of which are treated as qualified dividends on your tax return. Therefore, they will be taxed at a reduced capital gains rate. This is a routine practice and does not need to be disclosed. Please reach out if you have any additional questions.

David *****

Freelance Designer

For tax purposes, you have the option to use the net loss from your vacation property to offset the net profit from your domicile rental.

Karen ******

Seller (Online or independent seller)

The amount should be entered on Part 2, Line 10 under Commissions and Fees on Schedule C.

Lexi

Event planner

Chris

Real-estate agent

Find the best CPA for you

STEP 1/2

Are you a freelancer or self-employed?

Yes

RECOMMENDED

STANDARD

CPAs file 2022 taxes (Federal & State)

$20/mo

Save 20% Limited time offer

$16/mo

Billed annually. 7-day free trial. Cancel anytime.

Try it free

What's included

Everything in Basic +

CPAs file 2022 taxes for the
Self Employed -federal & state

Tax Audit Insurance

PREMIUM

CPAs file 1099 + LLC or S Corp returns

$41/mo

Save 30% Limited time offer

$29/mo

Billed annually. 7-day free trial. Cancel anytime.

Try it free

What's included

Everything in Standard +

CPAs file 2022 taxes for the
Self Employed and LLC or S Corp.

Designated CPA - Zoom call

CPAs file taxes for you

7-day free trial

Billed annually

Start for free

Why choose a FlyFin CPA?🤔

Facts and figures about
Collingsworth County, Texas

An image showcasing Collingsworth County in Texas

2,615

County Population

Wellington

County Seat

919 sq mi

County area

8.25%

Collingsworth County sales tax rate

😵‍💫 1 CPA for every 300 people in Texas = high CPA charges

😓 19 million Americans missed the tax filing deadline last year

😨 30 million people miss tax deductions without expert help

😣 Almost 50% of Americans end up overpaying

Download now

Texas State Income Tax Rates & Brackets for 2023

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

SINGLE FILER

Brackets

Rates

n.a

none

MARRIED FILING JOINTLY

Brackets

Rates

n.a

none

Filing Status

Standard Deduction Amt.

Single

n.a.

Couple

#VALUE!

Collingsworth county Sales Tax Rates for 2023

City

Sales Tax Rate

Tax Jurisdiction

Wellington

8.25%

Wellington

Quail

6.25%

Collingsworth

Dodson

6.75%

Childress

Sam Norwood

6.25%

Collingsworth

Frequently Asked Questions

How does online tax filing in Collingsworth County Texas work?

How is a CPA defined in Collingsworth County Texas?

Certified public accountants, or CPAs, in Collingsworth County Texas are tax professionals with the right education and experience to help Collingsworth County Texas taxpayers prepare and file their taxes. They have a license issued by the Collingsworth County Texas state board of accountancy. Accountants in Collingsworth County Texas have to pass a rigorous exam called the Uniform CPA Exam. In addition to helping individuals prepare taxes, Collingsworth County Texas CPAs work in positions as public or corporate accountants, and many executives with titles like Controller or Chief Financial Officer are also CPAs. Collingsworth County Texas CPAs are the tax professionals who are most familiar with the Collingsworth County Texas self-employment tax rate, income tax rate, property tax rate and every major and minor tax regulation in Collingsworth County Texas that could affect their clients tax situation. A good Collingsworth County Texas CPA is a walking encyclopedia of tax information at both the Collingsworth County Texas level and federal level.

What exactly CPAs in Collingsworth County Texas do?

The role of a Collingsworth County Texas CPA is to act as a trusted financial advisor to every taxpayer who is their client. A CPA in Collingsworth County Texas should be able to answer any possible tax question their client may have, no matter what their tax situation may be. CPAs in Collingsworth County Texas should have the experience and expertise to prepare all the documents taxpayers are required to file in Collingsworth County Texas with 100% accuracy.

What do FlyFin CPAs do?

FlyFin's CPA team is made up of small business tax professionals who are experts in Collingsworth County Texas taxes. They bring over 100 years of combined experience to the table. While the FlyFin app leverages sophisticated A.I. to find every possible Collingsworth County Texas tax deduction, FlyFin CPAs provide guidance, tax preparation and Collingsworth County Texas tax filing services directly through the app to freelancers, W-2 employees, independent contractors, self-employed individuals and small businesses in Collingsworth County Texas. The CPA team helping FlyFin users save $3,700 on average on their taxes works with both 1099 Collingsworth County Texas tax deductions for self-employed individuals in Collingsworth County Texas and W-2 tax deductions for employees working in Collingsworth County Texas, as well as with every personal tax deduction a client can take in Collingsworth County Texas. Taxes for a freelancer, independent contractor or a business owner in Collingsworth County Texas, for example, can be especially tricky, and FlyFin CPAs can answer any question they may have, from the write-offs they qualify for to how much their quarterly estimated tax payments should be.

Ask a CPA in other Counties of Texas

Ask a CPA in Anderson Ask a CPA in Andrews Ask a CPA in Angelina Ask a CPA in Aransas Ask a CPA in Archer Ask a CPA in Armstrong Ask a CPA in Atascosa Ask a CPA in Austin Ask a CPA in Bailey Ask a CPA in Bandera Ask a CPA in Bastrop Ask a CPA in Baylor Ask a CPA in Bee Ask a CPA in Bell Ask a CPA in Bexar Ask a CPA in Blanco Ask a CPA in Borden Ask a CPA in Bosque Ask a CPA in Bowie Ask a CPA in Brazoria Ask a CPA in Brazos Ask a CPA in Brewster Ask a CPA in Briscoe Ask a CPA in Brooks Ask a CPA in Brown Ask a CPA in Burleson Ask a CPA in Burnet Ask a CPA in Caldwell Ask a CPA in Calhoun Ask a CPA in Callahan Ask a CPA in Cameron Ask a CPA in Camp Ask a CPA in Carson Ask a CPA in Cass Ask a CPA in Castro Ask a CPA in Chambers Ask a CPA in Cherokee Ask a CPA in Childress Ask a CPA in Clay Ask a CPA in Cochran Ask a CPA in Coke Ask a CPA in Coleman Ask a CPA in Collin Ask a CPA in Colorado Ask a CPA in Comal Ask a CPA in Comanche Ask a CPA in Concho Ask a CPA in Cooke Ask a CPA in Coryell Ask a CPA in Cottle Ask a CPA in Crane Ask a CPA in Crockett Ask a CPA in Crosby Ask a CPA in Culberson Ask a CPA in Dallam Ask a CPA in Dallas Ask a CPA in Dawson Ask a CPA in De Witt Ask a CPA in Deaf Smith Ask a CPA in Delta Ask a CPA in Denton Ask a CPA in Dickens Ask a CPA in Dimmit Ask a CPA in Donley Ask a CPA in Duval Ask a CPA in Eastland Ask a CPA in Ector Ask a CPA in Edwards Ask a CPA in El Paso Ask a CPA in Ellis Ask a CPA in Erath Ask a CPA in Falls Ask a CPA in Fannin Ask a CPA in Fayette Ask a CPA in Fisher Ask a CPA in Floyd Ask a CPA in Foard Ask a CPA in Fort Bend Ask a CPA in Franklin Ask a CPA in Freestone Ask a CPA in Frio Ask a CPA in Gaines Ask a CPA in Galveston Ask a CPA in Garza Ask a CPA in Gillespie Ask a CPA in Glasscock Ask a CPA in Goliad Ask a CPA in Gonzales Ask a CPA in Gray Ask a CPA in Grayson Ask a CPA in Gregg Ask a CPA in Grimes Ask a CPA in Guadalupe Ask a CPA in Hale Ask a CPA in Hall Ask a CPA in Hamilton Ask a CPA in Hansford Ask a CPA in Hardeman Ask a CPA in Hardin Ask a CPA in Harris Ask a CPA in Harrison Ask a CPA in Hartley Ask a CPA in Haskell Ask a CPA in Hays Ask a CPA in Hemphill Ask a CPA in Henderson Ask a CPA in Hidalgo Ask a CPA in Hill Ask a CPA in Hockley Ask a CPA in Hood Ask a CPA in Hopkins Ask a CPA in Houston Ask a CPA in Howard Ask a CPA in Hudspeth Ask a CPA in Hunt Ask a CPA in Hutchinson Ask a CPA in Irion Ask a CPA in Jack Ask a CPA in Jackson Ask a CPA in Jasper Ask a CPA in Jeff Davis Ask a CPA in Jefferson Ask a CPA in Jim Hogg Ask a CPA in Jim Wells Ask a CPA in Johnson Ask a CPA in Jones Ask a CPA in Karnes Ask a CPA in Kaufman Ask a CPA in Kendall Ask a CPA in Kenedy Ask a CPA in Kent Ask a CPA in Kerr Ask a CPA in Kimble Ask a CPA in King Ask a CPA in Kinney Ask a CPA in Kleberg Ask a CPA in Knox Ask a CPA in La Salle Ask a CPA in Lamar Ask a CPA in Lamb Ask a CPA in Lampasas Ask a CPA in Lavaca Ask a CPA in Lee Ask a CPA in Leon Ask a CPA in Liberty Ask a CPA in Limestone Ask a CPA in Lipscomb Ask a CPA in Live Oak Ask a CPA in Llano Ask a CPA in Loving Ask a CPA in Lubbock Ask a CPA in Lynn Ask a CPA in Madison Ask a CPA in Marion Ask a CPA in Martin Ask a CPA in Mason Ask a CPA in Matagorda Ask a CPA in Maverick Ask a CPA in Mcculloch Ask a CPA in Mclennan Ask a CPA in Mcmullen Ask a CPA in Medina Ask a CPA in Menard Ask a CPA in Midland Ask a CPA in Milam Ask a CPA in Mills Ask a CPA in Mitchell Ask a CPA in Montague Ask a CPA in Montgomery Ask a CPA in Moore Ask a CPA in Morris Ask a CPA in Motley Ask a CPA in Nacogdoches Ask a CPA in Navarro Ask a CPA in Newton Ask a CPA in Nolan Ask a CPA in Nueces Ask a CPA in Ochiltree Ask a CPA in Oldham Ask a CPA in Orange Ask a CPA in Palo Pinto Ask a CPA in Panola Ask a CPA in Parker Ask a CPA in Parmer Ask a CPA in Pecos Ask a CPA in Polk Ask a CPA in Potter Ask a CPA in Presidio Ask a CPA in Rains Ask a CPA in Randall Ask a CPA in Reagan Ask a CPA in Real Ask a CPA in Red River Ask a CPA in Reeves Ask a CPA in Refugio Ask a CPA in Roberts Ask a CPA in Robertson Ask a CPA in Rockwall Ask a CPA in Runnels Ask a CPA in Rusk Ask a CPA in Sabine Ask a CPA in San Augustine Ask a CPA in San Jacinto Ask a CPA in San Patricio Ask a CPA in San Saba Ask a CPA in Schleicher Ask a CPA in Scurry Ask a CPA in Shackelford Ask a CPA in Shelby Ask a CPA in Sherman Ask a CPA in Smith Ask a CPA in Somervell Ask a CPA in Starr Ask a CPA in Stephens Ask a CPA in Sterling Ask a CPA in Stonewall Ask a CPA in Sutton Ask a CPA in Swisher Ask a CPA in Tarrant Ask a CPA in Taylor Ask a CPA in Terrell Ask a CPA in Terry Ask a CPA in Throckmorton Ask a CPA in Titus Ask a CPA in Tom Green Ask a CPA in Travis Ask a CPA in Trinity Ask a CPA in Tyler Ask a CPA in Upshur Ask a CPA in Upton Ask a CPA in Uvalde Ask a CPA in Val Verde Ask a CPA in Van Zandt Ask a CPA in Victoria Ask a CPA in Walker Ask a CPA in Waller Ask a CPA in Ward Ask a CPA in Washington Ask a CPA in Webb Ask a CPA in Wharton Ask a CPA in Wheeler Ask a CPA in Wichita Ask a CPA in Wilbarger Ask a CPA in Willacy Ask a CPA in Williamson Ask a CPA in Wilson Ask a CPA in Winkler Ask a CPA in Wise Ask a CPA in Wood Ask a CPA in Yoakum Ask a CPA in Young Ask a CPA in Zapata Ask a CPA in Zavala

Ask a CPA in Cities of Collingsworth

Ask a CPA in Dodson Ask a CPA in Quail Ask a CPA in Samnorwood Ask a CPA in Wellington

What’s FlyFin?

FlyFin caters to the tax needs of freelancers, gig workers, independent contractors and sole proprietors. Using a powerful A.I., FlyFin tracks all your business expenses automatically. But anyone can file taxes through FlyFin! Our CPA team files a guaranteed 100% accurate tax return for you – to save you a couple thousand dollars and a ton of time on your taxes. You can download the FlyFin app and have your taxes filed in less than 15 minutes, saving you time and money.

https://dem95u0op6keg.cloudfront.net/image/PriceCalculator.webp

Expert tax CPAs ensure 100% accurate tax filing

https://dem95u0op6keg.cloudfront.net/image/AiBrain.webp

A.I. finds every tax deduction eliminating 95% of your work

https://dem95u0op6keg.cloudfront.net/image/MoneySack.webp

On average users save $3,700

Was this tip useful?

Yes

Blog Partner with us FlyFin member perks Privacy policy Terms of service Contact Us Sitemap

For more information & tax tips follow us on