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Quick context: The game on the screen is a visual novel that teaches you how to pay your taxes.
Main Post: Quick context: The game on the screen is a visual novel that teaches you how to pay your taxes.
Top Comment: Is this an an American thing? I just get a letter saying how much my taxes are and where to pay them, or it just comes out the bank monthly
New to higher income - how do I play the tax game?
Main Post:
My wife and I have been teachers for the past 15 years and always lived in a low pay, low tax state like Texas. The last 4 years we have moved to New Jersey and increased our pay and my wife has left education and significantly increased her pay.
She makes about 215,000 per year in salary. She also might bring in one to $5,000 per year in some side consulting.
I am still a teacher and make 105,000 per year and I have two side jobs each which make about 13,000 per year. That brings me to about 131,000 per year.
So far the things we do to try and shelter money from taxes are fairly normal. I believe. My wife and I both max out our individual 401ks every year, I max out a education savings account for my kids every year. We write off mortgage and state property tax. And we do have an LLC that sometimes I try and write off business expenses for with my wife doesn't even consulting, we also have a home office for that purpose as well.
I am just looking for something bigger because of the amount of taxes we pay. I've considered maybe buying a rental property to look into landlord type write offs. I also think there is probably a lot more I could be doing with my LLC, but I am just not savvy enough.
Thanks for any ideas.
Top Comment:
The short answer is not really much more you can do if your primary jobs are W2. Your side hustles bring in 13k + 1-5k so 14k-18k. That’s about 5-6k in extra taxes, so the best you can do would be to try to find valid deductions for those side hustles to minimize their tax burden. Real estate will not be worth your time unless you have a genuine interest in becoming a real estate professional and even then it may not be worth your time.
Tax games and simulations? | RSP Guild
Main Post: Tax games and simulations? | RSP Guild
Does EBGAMES Canada charge tax on games purchased using store credit/trade ins?
Main Post:
Hi all, I was just curious about wether or not ebgames/gamestop in canada charges tax on games when purchased with store credit
i am asking because i did some trade ins during a promotion and bought a new game and had more credit that I thought i would have left. I didn't check the receipt until a few days later and noticed that i had not been taxed on the games purchased with the credit
is this the norm or simply a mistake? Thanks all
Top Comment:
It's the norm! You have nothing to worry about
UK announces £30 million funding package and tax breaks as it aims to be the ‘best place in the world to make games’ : Games
Main Post: UK announces £30 million funding package and tax breaks as it aims to be the ‘best place in the world to make games’ : Games
Canadians may get GST tax break for games over the holidays : mtgfinance
Main Post: Canadians may get GST tax break for games over the holidays : mtgfinance
Tax Heaven 3000 announced for PC – free-to-play romance visual novel that does your taxes
Main Post: Tax Heaven 3000 announced for PC – free-to-play romance visual novel that does your taxes
Top Comment: MSCHF is the art collective behind this and they're the real deal . This is highly likely to be legitimate - and the fact that they lampshade the SSN in the promotional material shows they know exactly how ridiculous what they're doing is. If they know what they're doing and don't want to be liable for "handling" personal information, this is very likely to function as offline tax preparation software. Basically a glorified spreadsheet tool that gives you a PDF for you to print and mail in. If you don't trust it you could wait for someone to test it in an offline sandbox - or punch in a fake SSN and white it out after printing! But really, you trust Intuit more than you trust the red boots guys ? That might be the question they're asking here.
[US] Do you pay sales tax on digital game purchases?
Main Post:
In my state, I have sales tax applied to all my digital purchases from the Microsoft store. A $60 game will be $64.95 after tax. Is this normal? Based in Texas.
Top Comment: Yup
Yoshi Commits Tax Fraud 64 - Final Trailer
Main Post: Yoshi Commits Tax Fraud 64 - Final Trailer
Top Comment: I feel like this is a cease and desist waiting to happen. Don't announce projects like this before they're actually out and can't be removed from the internet.
Some U.S. States Force Steam to Collect Sales Tax
Main Post: Some U.S. States Force Steam to Collect Sales Tax
Top Comment: The American horror of paying taxes will never be not entertaining.
How does steam collect sales tax
Main Post:
I just bought a few gift cards and it is asking for me to put in my billing address to collect sales tax. How does steam do this? I have read posts where they say it just asks you for billing info but doesn't do anything with it for the law. Or do they send you physical mail that you mail back to them? I am trying to avoid mail because one parent allows games and one doesn't so mail would be too risky.
Top Comment:
Steam is now required by law to charge sales tax depending on where you live.
In order to determine which region/country/state's taxes apply to you they require your address to know where you're located.
Mandatory Digital Sales Tax will start in 2021
Main Post: Mandatory Digital Sales Tax will start in 2021
Top Comment: F for everyone buying DE PS5s thinking they'd be getting discounts on games. Disclaimer: You still will for the time being, but as of next summer it looks like that ends.