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  1. #1
    Atomic Punk
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    12.11.17 @ 04:37 PM
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    Have a question for any Tax / CPA guys out there...

    PM me please...

    I live in CT, but work in RI and my tax guy is telling me that any "Federally Reported" income I earn outside of RI is also taxed by the State of RI... Which I find to be total bullshit...
    "Watch what people are cynical about, and one can often discover what they lack. -- Gen. George S. Patton

  2. #2
    Atomic Punk Dave's Dreidel's Avatar
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    12.15.17 @ 03:13 PM
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    Quote Originally Posted by voivod View Post
    PM me please...

    I live in CT, but work in RI and my tax guy is telling me that any "Federally Reported" income I earn outside of RI is also taxed by the State of RI... Which I find to be total bullshit...
    You are going to love the answer...it depends. It will be taxed by a state, circumstances determine which one.

    You have to remember that the reason you are being taxed it to pay for the products and services provided to you by that government entity. Your income is just the major determining factor in how much tax to pay, but not the if.

    You might have earned the income in New Hampshire, but depending on type of income earned (wages, rental real estate, etc.) can determine where you report. But if it federally reported income you will most likely being paying some state tax on it.

    But unless you live in one of the few states that do not tax income, most income that you earn will be taxed by your resident state.

    I'll PM you and you can give me a call.
    Taylor Swift is nice to look at. Adele can sing.

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  3. #3
    Good Enough wombattt's Avatar
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    05.23.17 @ 01:16 PM
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    Quote Originally Posted by Dave's Dreidel View Post
    You are going to love the answer...it depends. It will be taxed by a state, circumstances determine which one.

    You have to remember that the reason you are being taxed it to pay for the products and services provided to you by that government entity. Your income is just the major determining factor in how much tax to pay, but not the if.

    You might have earned the income in New Hampshire, but depending on type of income earned (wages, rental real estate, etc.) can determine where you report. But if it federally reported income you will most likely being paying some state tax on it.

    But unless you live in one of the few states that do not tax income, most income that you earn will be taxed by your resident state.

    I'll PM you and you can give me a call.
    he's right.


    thought I'd give this a shot since I was a CPA up until 2002....turns out it was a relatively easy question....
    "Always hopeful, yet discontent,
    He knows changes aren't permanent
    But change is!"

 

 

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