Green card and taxes

T

thethinker

Registered Users (C)
Hi :)

I'm a Green Card holder since 1st March 2006
This my FIRST time I pay taxes for US, I have residence in Oakland, CA.
I want fill the right form for US taxes but don't know which one use.:confused:
Can you help me to understand how many taxes I have to pay?

Have I to pay Government and/or Local taxes (California)?
Which form?
I have earnings from self-employment, which form use?
In San Francisco I went to an IRS office (www.irs.gov) to take some forms
(1040)
The form 1040 is the same in all USA?

I don't understand if the taxes fill in 1040 form are the only taxes I have to pay or if there are some others forms, different for every state in US or for every city.

I have seen there is also Franchise Tax Board at www.ftb.ca.gov with form 540 for California

Any other taxes? [Social Security & Medicare Tax (FICA); Federal Unemployment Tax (FUTA)]:confused:

Must I write in the boxes of form also cents? (ex. $1,000.15)

Thank you very much ;)

Marco
 
For federal taxes, which you HAVE to file as resident, the forms 1040 are the right ones, but NEVER use the 1040NR ( NR stands for Non Resident )
Some states do not have income taxes ( Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. Additionally, New Hampshire and Tennessee limit their state income taxes to dividends and interest income only) but CA does.
I've never lived in CA, so I'm not familiar.
But here's where to look at :
http://www.taxes.ca.gov/

For federal taxes help, the irs website has a lot of helpful publications.

Otherwise, you can purchase tax sofwares: your tax returns ( federal and state ) will be prepared based on your answers to a questionnaire.

If you own property, it is likely you will have to pay the real estate tax as well.

Any other taxes? [Social Security & Medicare Tax (FICA); Federal Unemployment Tax (FUTA)]
Click to expand...
If you were employed, it is very likely those taxes have already been withheld from your paycheck ( look at the boxes on your W2 )
If not, the tax softwares ask for it anyway.
 
since you were self-employed, you have to pay all the taxes yourself. You will benefit greatly from getting a Taxcut or Turbotax program. Or go to www.taxcut.com, you can calculate your taxes online.
 
get an accountant

If you have self-employment income I would recommend getting an accountant. There are lots of rules and deductions that you are difficult to figure out. If you have straight W2 income and not much else, then I'd go with something like taxcut.
 
Thanks for the advices :D

What I know now:
I have only Self-employment income ($10000)
I must pay State, Federal Income Tax

And also Self Employment Tax (this is 15.3% (12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance).
I can get half of it back when I file 1040.

Federal Tax rate for single = 15% ($7,551- 30,650 )

Use Form 1040 (I can't use Forms 1040-EZ or 1040A). Easy form 1040EZ it's only for income received from wages, salaries and tips
Schedule SE (Form 1040) -- Self-Employment Tax

FTB Form 540 for California taxes

I have not received unemployment compensation


What do you think, is it correct?
I don't understand if I have to pay 15.3% (Self Employment Tax ) on my income or if it is to compute on final tax

What is: "IRA and retirement plan deductions" and "Alternative Minimum Tax (AMT) "?


Marco
__________________________________________

I received help, I want help others with some website: ;)

http://employment.findlaw.com/emplo...yee-wages-benefits-taxes-self-employment.html

Free online calculator http://www.dinkytown.net/taxes.html
 
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