Tag Archives: Taxation in Australia

A Lesson from the IRS for Students Starting a Summer Job

Courtesy of the IRS School’s out, but the IRS has another lesson for students who will be starting summer jobs. Summer jobs represent an opportunity for students to learn about the tax system. Not all of the money they earn will be included in their paychecks because their employer must withhold taxes. Here are six […]

Deducting Large Rental Loss

Today TaxMama® hears from Bernice in the TaxQuips Forum who is concerned. “Are there no limits for an “active” real estate investor with even just one rental? Or is the $25,000 limit applicable to him as well? I ask because my software allowed a $31,000 loss and so far it was accepted! Now I may […]

Is Social Security Taxable?

Today TaxMama hears from Stephen in the TaxQuips Forum who is surprised. “Hang on here, Mama. You’ve raised a question in your answer. I thought that Social Security benefits were not taxable if you waited until full retirement age. Only early retirement takers had a maximum income that you could earn. Help. Straighten me out […]

Proper Employment Tax Treatment of Part-Time or Seasonal Workers

Courtesy of the Internal Revenue Service June 04, 2009 For many businesses, summer traditionally brings an influx of part time or seasonal workers into the work force. Employers must ensure they are treating these workers properly for employment tax purposes. Generally, workers are either employees or independent contractors, based upon the facts and circumstances of […]