Possible opportunity to work/live in Texas - Page 6

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Possible opportunity to work/live in Texas - Page 6


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  #51 (permalink)  
Old 9th May 2013, 01:50 AM
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You run a business and ask in a public forum if you have to pay taxes? Well - you do! Depending Von the size of your business you may want to consider a CPA or do ituoursel software such as already mentioned.

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  #52 (permalink)  
Old 9th May 2013, 01:55 AM
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Lol fear not.
The company accounting is nothing to do with me.

I was asking from a personal point of view. Obviously my wages will be taxed.
I was asking why you always hear about tax rebates etc.

The tax system out here is way over complicated compared to the UK.

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  #53 (permalink)  
Old 9th May 2013, 02:05 AM
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Quote:
Originally Posted by winty82 View Post
Lol fear not.
The company accounting is nothing to do with me.

I was asking from a personal point of view. Obviously my wages will be taxed.
I was asking why you always hear about tax rebates etc.

The tax system out here is way over complicated compared to the UK.
Bev is the tax guru. I can only give you my personal opinion. Texas has no personal income tax but takes it from homeowners. Save your receipts you may be able to itemize deductions at the end of the year. Again CPA or software - your choice.

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  #54 (permalink)  
Old 9th May 2013, 07:15 AM
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Quote:
Originally Posted by winty82 View Post
How do taxes work out here in the US? I hear on the tv/radio constantly about tax rebates as if its a given.
Do I need to be keeping my receipts for certain things to claim taxes at the end of the year? Do I even get taxed on the US system if I'm on a E-2 Visa?
I now have company healthcare set-up (a whole nightmare on its own lol )
Are prescriptions, doctor visits for my wife/son/me tax reclaimable etc etc ?
If you are working in the US, then yes, you will pay income taxes in the US.

There is a withholding system for income tax from employment in the US. Don't confuse this with the PAYE system in the UK. You are not actually paying taxes when they are withheld, just making advance payments against what you will owe at the end of the year. (And if you're not having withholding taken out, you will have to file quarterly estimated payments against your eventual tax bill.)

Most folks choose to be over-withheld so that they get a refund of the excess payments when they file their returns. Generally not the economical thing to do, but with interest rates so low, it's the popular approach.

You will have to file an income tax return at the end of the year, so save those receipts and other documentation for possible deductions, etc.

And as far as health insurance goes, anything goes. You will need to refer to your policy as to what is or isn't reclaimable, or how much you will have to pay in "co-pay" for each doctor visit or treatment.
Cheers,
Bev

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Old 8th June 2013, 08:36 AM
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Hi we are in the process of moving too.

We will be in the woodlands which we loved when we visited in April
The schools were fab too!

Which relator did you use in the woodlands?
How has your wife and son settled?


Any tips on when you get there or what we should do here to save time

Thanks
Nish

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