Binary option on forex exchange and us taxes

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How to anonymously report a business for misclassifying all their employees to evade taxes and what evidence do I need to have?

Recently started working at a restaurant who told me after I already started working there with no prior notice when I was hired that everyone is supposed to file a 1099 and that we'd be paid a 'daily salary' which was to avoid giving people the legally mandated breaks because they had people working well over 8 hours a day without a specified break. They also pretty clearly wanted people to be 1099 to evade taxes. It's a family run restaurant with mostly friends and families as employees with very few exceptions so I think I'm the only one with any moral quandary with what's happening. I've only worked for less than a month and they still don't have my SSN and haven't had me fill out any formal paperwork. Is there any way for me to collect evidence or anonymously tip off the IRS when I quit soon? I don't want to report them unless I know it'll work out and I know that its 100% anonymous with no way for it to be traced back to me because I don't want to get in trouble with the family running it.
submitted by ConfusedEmployee675 to tax [link] [comments]

Does income tax apply when i am making money on stock market crypto ,forex how to do it right from the beginnning please

Hi Would you be able to advise me please when i need to start worrying about tax when making some money on trading?I wish to know if i need to pay income tax when i am employed and also making some money on the side from stock crypto and forex trading?Is there a tax free treshold?? Thank you so much
submitted by ssyniu to UKPersonalFinance [link] [comments]

How to anonymously report a business for misclassifying all their employees to evade taxes and what evidence do I need to have?

Recently started working at a restaurant who told me after I already started working there with no prior notice when I was hired that everyone is supposed to file a 1099 and that we'd be paid a 'daily salary' which was to avoid giving people the legally mandated breaks because they had people working well over 8 hours a day without a specified break. They also pretty clearly wanted people to be 1099 to evade taxes. It's a family run restaurant with mostly friends and families as employees with very few exceptions so I think I'm the only one with any moral quandary with what's happening. I've only worked for less than a month and they still don't have my SSN and haven't had me fill out any formal paperwork. Is there any way for me to collect evidence or anonymously tip off the IRS when I quit soon? I don't want to report them unless I know it'll work out and I know that its 100% anonymous with no way for it to be traced back to me because I don't want to get in trouble with the family running it.
submitted by ConfusedEmployee675 to legaladvice [link] [comments]

How Do You Report Staking Rewards on Your Taxes?

I live in the United States and earned about $80 in staking rewards last year. When I did my taxes, I added that income to Schedule 1 as "Other Income" and described it as "Staking Rewards" on the few lines that were provided. I just received a letter from the IRS the other day saying that they need more information regarding that income. What did I do wrong? My current assumption is that I didn't describe exactly what type of cryptocurrency I received and in what quantity. They might also want to know the exact dates that each batch was paid out. Am I correct, or is there a better way to do this? The IRS has left us no guidelines on how to report staking rewards which is a little bit frustrating.
submitted by hereswhatworks to CryptoCurrency [link] [comments]

How do I report my monthly taxes as an LLC? (Ohio Based)

submitted by mousesmoonbunny to llc [link] [comments]

I know someone not paying taxes in Germany. How do I report them?

Is there a way to do it online as I’m not based there currently so it’s hard to go in person or send a letter
submitted by idgafgal to germany [link] [comments]

How/where to pay tax on profit from forex exchange?

Earlier this tax year I had an inheritance come through. I had this money sat in my Shinsei account in CAD as I had a feeling the yen might weaken. I then waited and converted the money a while later once the CAD had gained against the yen, thus I made a profit, the profit is over the 200,000 yen limit.
I have a salaried job but no side business, this was a one off windfall. How do I go about declaring this and paying the (20%??) capital gains tax?
submitted by JapanSoBladerunner to JapanFinance [link] [comments]

a forex broker is threatening to subpoena me for not paying some taxes. a lot of people warned me that this is a scam, so I ignored the broker's claims. I'm confused as to what to do?

I was trading with forex signal brokers for a little while now. After I made some profit, when I tried to withdraw the funds, they wanted me to pay some taxes, which a lot of people warned me was a scam. So I ignored them. Now they are threatening to subpoena me. I'm confused as to what to believe. There are no clear laws and it is confusing. Please help me
submitted by Traditional_Reason59 to legaladvice [link] [comments]

How do I report this guy as a dependent for my next tax return?

How do I report this guy as a dependent for my next tax return? submitted by HYPED_UP_ON_CHARTS to walkaway [link] [comments]

When it comes time for taxes, how do I report my expense for commissioned illustrations to the IRS?

Furthermore, how long am I allowed to report no net profit on the book to the IRS (especially since my gross profit probably won’t reach $700 for quite some time since I’m not even 10 percent of the way there)?
submitted by IcyCrow to selfpublish [link] [comments]

how do you explain a discrepancy on a sales report to a tax auditor?

I made a stupid mistake by forgetting to edit all the sales categories items on my pos report. Now the total sales categories number is $5000 short compare to the actual sales. The tax auditor is asking me to explain why the discrepancy is? What should I explain to her? Please help.......................
submitted by RealisticTree1774 to smallbusiness [link] [comments]

Mom passed and me my brother sold house how do I report on taxes?

So my passed last year and me and my brother sold her house soon after last year. I filed for an extension on my taxes and have until tomorrow to file(i know i really should of taken care of this sooner but something is wrongwith me.) I believe the house sold for about 235k but there was a mortgage and I recieved about 30-35k after my brother got his share. I'm at work right now but I know I got some sort of tax form from the sale I need to find it when I get home. I've been researching about it a bit but still confused. Does anyone here understand exactly what is required of me?? Thank you
submitted by HaymarketHector to personalfinance [link] [comments]

How do you report US ETF capital gain distributions on Japan tax return?

I am considering adding an ETF to my portfolio of individual stocks, but am not clear on how I would report capital gain distributions on my Japan tax return. To be clear, I am referring to the fund selling shares internally....not me selling shares of the fund. I'm assuming ETF statements don't have the necessary detail on these sales/distributions to calculate average cost for Japan tax purposes. Is my assumption correct?
submitted by vitalenta to JapanFinance [link] [comments]

I received a check for $666 in a class action settlement from a summer job I did years ago. How do I report this on my taxes?

So the tax forum they sent me is one sheet of paper, one half says it's the form 1099-MISC, and the other half says it's 1099-INT (with only SDI $8 in box 14). But then on the bottom of each half it says form W-2 wage and tax statement. Do I have to fill out all three tax forms for this thing?
submitted by PrinceFicus-IV to personalfinance [link] [comments]

It's time to have a serious talk. DRS your IRA. In the comments, there will be a link to DD on how to do it through Mainstar. No taxes! #DRSIRA should become the new hashtag. 420 NFTs today for you, my dears)

It's time to have a serious talk. DRS your IRA. In the comments, there will be a link to DD on how to do it through Mainstar. No taxes! #DRSIRA should become the new hashtag. 420 NFTs today for you, my dears) submitted by Zen_Apes_official to Superstonk [link] [comments]

Forex Trading Tax Canada | How Are Trading Profits Taxed?

Forex Trading Tax Canada | How Are Trading Profits Taxed? submitted by Canadanewsmediaca to Canadanewsmedia [link] [comments]

How to pay taxes as a Forex trader

May work ako dati at automatic may deduction sa sweldo ko. Nagresign na ako dahil sa health issues at sa Forex nalang income ko. How should I declare my taxes? Nakawithdraw ako ng P5k without complications pero if I do it with P10-30k baka magkaproblema. Paano ko iexplain na di buwanan ako kumikita. May mga buwan na talo o kaya wala, pero may buwang sinuswerte ako. Di consistent yung kita pero lumalaki. Ilang percent ang taxes in this case? Asking sa mga successful/beteranong Forex traders.
submitted by Thick_Constant8272 to phinvest [link] [comments]

is trading silver for gold considered a sale and do i have to pay taxes? technically not selling but if you'd trade large quantity would the coin shop report the trade? thank you god bless

submitted by LoveLifeLearn to Wallstreetsilver [link] [comments]

Understanding How Forex Is Taxed In South Africa

Understanding How Forex Is Taxed In South Africa submitted by SAtechnewsbot to SAtechnews [link] [comments]

You Can Trade Forex, Indices, Commodities, etc. Great Instrument. But How Are CFDs Taxed?

You Can Trade Forex, Indices, Commodities, etc. Great Instrument. But How Are CFDs Taxed? submitted by cfdstraded to FOREXTRADING [link] [comments]

How do you report capital gains tax on forex trading?

For tax season, (for nonprofessional traders) when you report capital gains tax on your forex trading (and CFDs etc), do you enter each and every trade separately? Or do you calculate a total figure and just report that? After making many trades every day, it seem ridiculous to declare each and every trade separately for capital gain tax. Hows it done?
submitted by bigtimedime to Forex [link] [comments]

Looking for help with how tax works as a student as prop firm forex trader.

Hi
I'm a nursing student who's current only income is thier student loan. I've recently started a forex trader challenge for two prop firms which looks like I'm going to pass both (fingers crossed a zombie apocolypse doesn't happen) meaning I can start generating some extra income.
I'm am very aware that when it comes to making money, the tax man will come knocking. I have 0 intentions of fucking this up so I'd like to get some advise on how all this would work when the time comes. I've never worked a job that pays enough for me to get taxed so I'm not familiar with the process at all. I belive that even though I'm working for a prop firm, it still counts as self employed? Trades are also done via CFDs for on firm, and spread betting for another. I know tax is different between the two.
I know most people say hire an accountant but I like to understand how it all works myself so even if I did hire one, I'd know if they were doing it right.
I appreciate any help with this.
Thanks.
submitted by GivingItMyBest to UKPersonalFinance [link] [comments]

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