Moving fro TN to GA, no change in salary, what effect will GA income tax have on my monthly cash flow?
88426
Since TN does not have state tax (but HIGH sales tax), it would decrease your "in-pocket" income. I'm not sure of the %age
1069566
should not affect your unemployemnt (unless you are cashing out -- which is a terrible idea).  you need to set up a new IRA account -- go for a Roth IRA at a discount brokerage like Muriel Siebert, e-trade, charles schwa, usaa if you are military -- and have the new account contact your company to do the transfer -- if your company cuts you a check to then transfer funds to new brokerage firm you will get stuck with taxes -- serioulsy don't tap the 401k money, you will be penalized and that is needed to grow for your future -- good luck!
306583
That's good advice about gambling.  I moved to Vegas a few years ago and will probably retire here, but I don't gamble.  The weather and lifestyle are great, and it's a smaller town than places like Phoenix and Los Angeles.  Real estate prices have gone up significantly in the last few years, but seem to have slowed down a bit lately.  The cost of living is not too high compared to other major cities.  \n\nYou may be able to exclude the gain on your house from federal taxable income, and that may protect you in MN as well; you should consult a tax advisor.  Nevada does not have a state income tax, though we do have a significant sales tax as well as taxes on real and personal property.  The gambling and hospitality industries do bring in enough revenue to keep personal taxes bearable.\n\nIn your position I would focus on two words:  NO SNOW.
1148706
Texas has the advantage of being without a state income tax. I hear housing prices are starting to get high there,however. Louisiana is a tad humid for me. I'm sure If you want some type of construction or post disaster work you'll find it there. It's still quite a mess down that way. don't know about Georgia. Sorry.
180230
Great Answers so far!   You are off to a great start.\n\nBelieve it or not, you also need information from your 2004 return.  You need to know how much you paid to the IRS in Taxes.  It is found on the 1040, 2004, on line number 43.\n\nYou need this because you must determine if you have an underpayment penalty.  BTW, you dont want one do you?  If you paid in more than 90% of what you owe this year, you will not pay any penalty.  \n\nTo avoid this penalty next year, for April 2007, you need to pay quarterly taxes this year.  Your first quarterly is due April 15.  Surprize!  The quarterly payment  should be one quarter of your this years total tax, if it appears that you are going along with about the same amount of income as last year.\n\nYour quarterly will be 150, maybe, see below.\n\nYes, you are going to enter the 27,000 on a Schedule C.\n\nYes, you need to get a look at a Schedule C and see all the possible deductions you can take.\n\nStart with your car deductions.  In general, you have to determine whether you will use the total number of business miles X the government rate or use the actual expenses including depreciation for the driving the business miles.  \n\nWhich do you think is easier?  \n\nYou guessed it the government rate.  It is per business mile!!  Ok it is tricky.  in the first 8 months, it is 40.5 cents per mile.  After Sept. 1, it is 48.5 cents per mile.\n\nSee the government actually thinks you have been keeping track in writing.  Not the reciepts, the actual NUMBER of miles.  If you need help, let me know.\n\nAnyway, you get all the expenses you can because you want to reduce the income on the Sch C.  All the C income is taxed as Self Employment tax of about 15.3%. \n\nThen the income goes back to the front of your 1040 and flows from there.\n\nSo, on my computer, ProSeries, also from Intuit, but not TurboTax, assuming all the best and no penalty for underpayment and 10,000 business miles, your wife had no income, you had no interest income, and nothing else either plus or minus, AND you are at least 25 years old!!! you owe $598 for 2005.  \n\nBe sure to send in the quarterly of 150!!  There is a special form for it so that it gets properly credited.\n\nIf both of you are not at least 25, let me know.  If you or your wife are were at least 25, on December 31, go in peace.\n\nBTW, you may want to very soon get your tax taxes going and get them finished off too.\n\nMeanwhile, I hope I was some help.  If you want to contact me feel free.  \n\nIf you are wondering why I wrote and take the time to put it on my machine, I just didn´t want you to get scared at the sight of $3500.00!  I know my wife and I would not have liked seeing that!!\n\nGood Luck.
1142130
Make up your mind to relocate to a better paying state.  Take Wisconsin, for instance.  If you know how to "finish the job", you'll get quite a handsome tip!
575194
I don't know Georgia law specifically, but most states require you to file a nonresident return if you have income-producing real estate in that state.
679449
No. The standard is usually 60 miles, if they move your position more than 60 miles from its current location (not where you live where THEY do business from) then they have to offer you relocation assistance. It depends on the company though, I wouldnt bother asking in your case because its rediculous to move from one side of town to another.\nGood luck
1182454
1. Cost of a familiarization and house-hunting trip for the employee, spouse, and family. (Does your family really want to move here?) \n2. Extra time off (with pay) for traveling and house hunting in the new location. \n3. Moving expenses, including packing and insurance. \n4. Travel expenses (lodging, meals, gas, etc.) while traveling to the new location. \n5. Assistance in the sale of your old home: \n...Company assumes responsibility for monthly payments, taxes and insurance until the old home is sold. \n...Price guarantee: if sold by the employee, the company will pay the difference between the net selling price and a specified price. \n...Alternative price guarantee: If employee can not sell the house within a specified period of time, the company will buy it at a specified price. \n...Company will pay commissions and other costs of sale.\n\n6. Assistance in the purchase of a new home: \n...Company to pay rent of temporary quarters, until a permanent home is located. \n...Buy down the interest rate. \n...Company provides low or no interest loans. \n7. A salary level commensurate with any increase in cost of living between the new location and your old location.
748165
That only comes out to $38.46 (gross) less per week, and with the slight decrease in the cost of living between NC and GA, I think you'll be just fine.
509506
No. You won't get a salary.\nIn fact, you have to invest your own money too and sell your car or house or apply for a loan.\n\nIf you don't risk your own money in the business nobody else will.\n\nTop 3 Answerer in Business & Finance. (Vote for me)
499983
See , you can use Form 2D .\nYou will have two sources of income.\n\n   Salary  and Income from Business .\n\nThe tax rate is same as that of individual. However, you can prepare a Income Expenditure accounts and you can charge depreciation on Computer you will use for the job, the motor car you use, expense of Internet, Telephone etc.\n\nJust do it.Forget about income tax, all expenses related to  the typing job is allowable under section 37  of the I T Act.
743896
Don't have an answer to your last question, but for the first, just put away some tiny amount from every paycheck -- even $5 is a good start -- and after a little while, when you've adjusted to one fewer meal at McDonalds per payperiod, take a little more.  Have your pay automatically deposited into your checking account -- it just simplfies everything.  \n\nIf you're lucky enough to get raises now and then, take the entire amount of the raise and put it aside.  (This works until inflation gets bad!)  Have the money deducted from your pay automatically into a savings account.  When it's accumulated $500 or whatever the minimum is, reinvest it in a CD.  (Certificate of Deposit, that is, not a compact disc!)  That way you can't EASILY get to it.\n\nWinn-Dixie is cheaper than Publix -- do you still have those in GA?
939162
no just let your company know that you have moved and they will send you your bills to your new address. Make sure you do tell them though as i made the same mistake and didnt bother which they have now caught up with me and im still paying it now
1048073
The answer depends on the company policy and how badly the company wants you at the new location. You just have to ask and see what the situation is. \n\nI have volunteered to relocate. My company policy automatically kicked in and most of my expenses were covered.  Some smaller companies may not have the resources to do the same.
992490
depends on the state I guess.\n\nHere is one ruling\n\nNEW YORK, NY March 30, 2005 —New York's highest court ruled that telecommuters who live out of state but work for a New York company, must pay state income taxes. The Court of Appeals decision could have wider implications as more people work at home for a company located far away.\n\nThe International Telework Association found that more than 12 million people used computers and telephones to work from home last year that's up 200 percent from the last census in 2000.\n\nIn its 4 to 3 ruling, the court said New York has the right to tax 100 percent of a non-resident's income derived from New York sources. Yet, the dissenting opinion says the ruling gives too much authority to the tax commissioner and the employer.\n\nThe case involving a computer programmer, living in Tennessee and working for a New York company may be brought to the US Supreme Court.\n\n\nWhat are the filing requirements for a nonresident who works in Georgia and/or has other Georgia source income? \nNonresidents, who work in Georgia or receive income from Georgia sources and are required to file a Federal income tax return, are required to file a Georgia income tax return. Some examples of Georgia source income are wages, Georgia lottery winnings, income from flow through entities (s-corporations, partnerships, LLC’s, trusts, and estates), rents, etc. If you are a legal resident of another state, you are not required to file a Georgia income tax return if your only activity for financial gain or profit in Georgia consists of performing services in Georgia for an employer as an employee when the compensation for services performed does not exceed the lesser of five percent of the income received in all places during the taxable year or $5,000.
797301
if you have lived in the house for 2 of the last 5 years the tax on anything less than $250,000 profit is ZERO. ( $500,000 for a couple)\nif your gain is more than that or you do not qualify, then they charge about 5% on the gain (profit) for poor people and 10% or 15% for others.\nif you have not lived in the house two years, but maybe 6 mo or 1 year, you may qualify for the maximum exclusion rule if there is a good reason for selling and moving. ask tax man to explain it to you.\n maybe they will give you a percentage of the $250,000  exemption pro-rated, say $125,000 for 1 year etc.\n\n if the house is a rental, you can do a 1031 and use the money from it to buy another house. ( then have zero tax to pay now) then after the sale. you can get a loan on the new house to pull out your equity.( not the other way around) check with tax guy for advice. the tax is seferred until you sell without rebuying. or it is waived if you die and pass the house on. that is the best way.