Been here Less that a year... (Tax related)
Jan 21st 2005, 7:39 pm
#1
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Location: Chicago, Il
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Been here Less that a year... (Tax related)
Hi there
it was mentioned to me today that if you have been in the country for less than a year this affects the rate at which you are taxed. However I cannot find any information regarding this on the irs website (www.irs.gov) .... anyone here know anything about this ?
Andy
Based in California.
it was mentioned to me today that if you have been in the country for less than a year this affects the rate at which you are taxed. However I cannot find any information regarding this on the irs website (www.irs.gov) .... anyone here know anything about this ?
Andy
Based in California.
Jan 21st 2005, 7:43 pm
#2
Member
Joined: Jun 2004
Location: Bath, UK ---> Indianapolis, IN
Posts: 371
Re: Been here Less that a year... (Tax related)
Not really. (AFAIK)
The main thing is that you won't have earned a full year's salary, so you might not hit certain tax brackets.
You may be able to file as a Partial Non Resident in your State and get lower State taxes, but that depends on the rules your State has.
The main thing is that you won't have earned a full year's salary, so you might not hit certain tax brackets.
You may be able to file as a Partial Non Resident in your State and get lower State taxes, but that depends on the rules your State has.
Jan 21st 2005, 8:16 pm
#3
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Location: MA, USA
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Re: Been here Less that a year... (Tax related)
Somin' for HR Block ain't it 
All new to me though, but those tax booklets aren't half an exciting read aren't they...but anyway, I guess it's a bit simple for me, spouse, nae income
All new to me though, but those tax booklets aren't half an exciting read aren't they...but anyway, I guess it's a bit simple for me, spouse, nae income
Jan 21st 2005, 8:25 pm
#4
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Joined: Nov 2004
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Posts: 4,452
Re: Been here Less that a year... (Tax related)
Like James said. There's no special privilege - just fill out the standard 1040 or 1040NR (which ever one you're using) and see what you get. You'll probably have better luck with the 1040 if you have the option of being taxed as a resident.
It's also a good time to think about your witholding allowances if you're going to be paid the whole of this year. If you're using anything other than zero on your W-4, it's a good idea to do a back-of-the-envelope tax calc for 2005 to check you're not going to get screwed in a year's time.
Also, beware of tax advisers / attorneys - most of them know shit about taxes on foreigners and many have never even heard of a 1040NR.
It's also a good time to think about your witholding allowances if you're going to be paid the whole of this year. If you're using anything other than zero on your W-4, it's a good idea to do a back-of-the-envelope tax calc for 2005 to check you're not going to get screwed in a year's time.
Also, beware of tax advisers / attorneys - most of them know shit about taxes on foreigners and many have never even heard of a 1040NR.
Jan 21st 2005, 8:47 pm
#5
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Posts: 14,577
Re: Been here Less that a year... (Tax related)
I'm in the same position, so if you find out please post the answer back here.
I've also had wages paid in two states, having lived in NY for a few months before moving to IL.
many thanks,
-tom
I've also had wages paid in two states, having lived in NY for a few months before moving to IL.
many thanks,
-tom
Jan 21st 2005, 8:55 pm
#6
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Re: Been here Less that a year... (Tax related)
Originally Posted by anotherlimey
I've also had wages paid in two states, having lived in NY for a few months before moving to IL.
Jan 22nd 2005, 2:20 am
#8
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Joined: Jun 2004
Location: New York
Posts: 475
Re: Been here Less that a year... (Tax related)
Yep get an accountant. You pay around $100 bucks and they do it all for you!!! Fret Not.
