Taxes - September 2006

im trying to figure how mortgage intrest and property tax will factor into my financials. so im wondering if it is resonable to think that i would get back 30% of whatever i paid over the year come tax return time.

2006-09-27 10:34:35 · 4 answers · asked by Fordie_ounces 2 in United States

Is it possible to file taxes for the years I missed? Could I request W-2's for previous years? What are the consequences for my actions?

2006-09-27 10:31:09 · 8 answers · asked by Jeremy 1 in United States

2006-09-27 09:35:13 · 4 answers · asked by cobainsluvchild 1 in United States

People over a certain income are not allowed to make any contributions to a Roth IRA. Why? Wouldn't people with high income rather pay the taxes later anyway (as they would do with a traditional IRA)? In other words, doesn't this rule just prohibit people from doing something they'd already rather not do?

2006-09-27 08:51:49 · 3 answers · asked by rainfingers 4 in United States

2006-09-27 07:56:09 · 10 answers · asked by colleen s 1 in United States

we own 2 properties next door to each other, we have rented one house for 6 years but would like to move. If we moved into the rented house for 2 years and sold our previous house would be exempt from capital gains tax, as we would like to move.

2006-09-27 07:39:30 · 8 answers · asked by grundybernadette 1 in United Kingdom

2006-09-27 07:18:42 · 6 answers · asked by sean_mchugh6 3 in United States

I hav no other entry of money except my retirement check

2006-09-27 06:56:44 · 9 answers · asked by frnhdl@sbcglobal.net 1 in United States

It seems to me (I could be wrong here) that the fees and expenses of college coursework (i.e. books, tuition, etc) can be deducted from your taxes IF the coursework is for the purpose of finding a new job, or changing employment, etc.
Again, I might be wrong, but I'm curious if this is the case. And if so, how does one prove this to the IRS?

If not, does university schooling ever qualify for tax deductability?

Thanks.

2006-09-27 06:54:23 · 3 answers · asked by Rob 5 in United States

My client had a total interest income of Rs 90000 only for A Y 04-05. I have heard there is a circular by the CBDT on this that condones the delay in filing of ITR and enables assessee to claim tax refund even for a time-barred ITR if the amount of refund is less than Rs 10000. Can you please provide me the details?

2006-09-27 06:31:37 · 4 answers · asked by Sanjeev Bedi 2 in India

2006-09-27 06:02:03 · 6 answers · asked by Anonymous in United States

I need more income, and it just occurred to me that a single man with high tax liability might benefit by marrying me, and giving me money in return for my tax advantage. I am not sure this would work, and am embarrased to ask my accountant. A good lawyer and tax accountant for each of us would be involved of course, so all the legal and tax bases would be covered. If it's at all feasible, the next question would be how to find such an individual .

2006-09-27 05:45:32 · 3 answers · asked by Chenille 2 in United States

2006-09-27 05:42:20 · 4 answers · asked by John W 1 in United States

If I make about $880 a paycheck, how much goes to taxes?

2006-09-27 05:33:40 · 9 answers · asked by Wowzer-Bowzer 2 in Canada

What is your opposition to the FairTax (www.fairtax.org)? Have you actually read the plan or are you just going by what some politician has said?

2006-09-27 05:29:27 · 2 answers · asked by Chris J 6 in United States

2006-09-27 05:27:50 · 3 answers · asked by Ang 1 in United States

I just brought a new car and i do not need my old car anymore so i am considering donating my car to a nonprofit charity. what my concern is how would that work as far as my taxes go? would i claim it and itemize it as a deduction? would i get the blue book value of my car?

2006-09-27 04:22:57 · 13 answers · asked by byrdman26 1 in United States

has anyone heard otf the Fairtax? apparently not many people have. even less have signed the petition: http://www.fairtax.org/
Sign the petition and support an American idea to get rid of the IRS!

2006-09-27 04:08:30 · 3 answers · asked by kunta kinte 2 in United States

2006-09-27 03:58:51 · 8 answers · asked by Agnes K 1 in United States

I want to start a charity org, how would I set it up so I can give tax receipts for tax write offs when people donate gifts?

2006-09-27 02:39:57 · 2 answers · asked by angelheart 2 in United States

2006-09-26 19:45:23 · 9 answers · asked by Anonymous in United States

Dear All,

We're considering of jumping into the KPO Space. We have an offer from a company to get into digital document conversion. The client would be providing scanned jpeg images in large volumes and we'd have to convert these jpeg images into editable word documents.

Would such type of a business service be liable to pay service tax in India? Keen to hear from you.

Entrepreneurially yours,

Aadil Bandukwala
aadil.bandukwala@gmail.com

2006-09-26 19:24:12 · 2 answers · asked by Aadil B 1 in India

IRS guidelines for deductible medical expenses and those reimbursable under section 125 of the Flexible Spending provsion state that fertility treatments (including IVF) are eligible if used to "overcome an inability to have children". I have not been diagnosed with fertility and have not been trying to get pregnat, but I am wanting to extend my fertility by harvesting eggs and freezing them or resulting embryos (should I choose to fertilize before freezing) for potential use in the future.

I am at an age where fertility is generally accepted to be diminished but I have no medical evidence or diagnosis of infertility.

2006-09-26 17:30:48 · 2 answers · asked by aint_no_stoppin_us 4 in United States

Gave 75,000.00 a year for the last 10 years to one person. Gave 90,000.00 to one person last year. Gave 36,000.00 to one person every year for the last 5 years. Have never filed gift tax. How do you calculate percentage wise and how much would I owe the IRS now?

2006-09-26 16:37:49 · 5 answers · asked by salute333 1 in United States

1. workers compensation received for injury or illness is not taxable.
a. true
b. false

2. a taxpayer cannot contribute to an IRA if he has a pension plan at work
a. true
b. false

3. when a taxpayer dies, a tax return does not to be filed for the year he died.
a. true
b. false

4. if a dependent has total income consisting of $800 of unearned income, he does not have to file a return.
a. true
b.false

5.. the child tax credit is a refundable credit.
a. true
b. false

6. social security is not taxable if the recipient is filing single and has a total income of less than 15,000$ (inculdes social security payments received)
a. true
b. false

7 social security and railroad tier 1 benefits are never taxable
a. true
b. false

8. gross income filing requirements for a single taxpayer, age 30 not blind or self-employed is
a. 3,200$
b. 5,000$
b. 5,000$
c. 8,200$
d. 9,450$

2006-09-26 16:15:39 · 10 answers · asked by Lizzeth 3 in United States

1. Everyone who is self employed must file a tax return?
a. true
b. false

2. students over age 19 receive an extra deduction.
a. true
b. false

3. a tax payer must file a schedule B or scehdule I if his interest income is more than $1,500
a. true
b. false

4. anyone who does not itemize can flie a 1040EZ
a. true
b. false

5. the only time a taxpayer would use a 1040 is if he is required to submit additional forms (such as scehdule A or B) with his tax return.
a. true
b. false

6. an extension allows a taxpayer additional time to file his return and to pay any amount due.
a. true
b. false

7. most taxpayers pay on a fiscal year.
a. true
b. false

8. as long as you have your own home, you can file head of household.
a. true
b. false

9. dividens stock you own are taxable income even if you reinvest them.
a. true
b. false

2006-09-26 15:54:01 · 7 answers · asked by Lizzeth 3 in United States

I need to file my income tax forms both state and Federal for 2003 and 2004, 2005.I found the IRS website for the 2005/ 1040 and 2555 forms but cant find the forms online for prior years. Any help?

2006-09-26 13:29:14 · 3 answers · asked by Anonymous in United States

I am currently 19 years old, about to turn 20 in November. I am attending college full time so my parents are still allowed to claim me as dependent. Latley we have been having some money issues and I was wondering how much money my parents are getting each year for claiming me as a dependent. They make around 40,000 a year. My parents do not pay for any of my college education. They are expected to pay $1000 each semester but I work an extra job to pay what they are expected to pay and I get nothing in return, I don't even live with my parents in the summer I work in New Mexico all summer at a camp. The most I get from my parents is around 10-20 a month at most for gas or something. I pay for everything else and have 2 jobs...one to help them and 1 to have money for myself...so everyone that commented on this question by telling me to grow up, i have and i have loans....i just start to think i suport my parents more or as much as they suport me.?

2006-09-26 12:52:49 · 10 answers · asked by Ashley M 2 in United States

I was talking to somebody and he told me that he pays $40 every two months and he gets the listing for the whole United States and includes all the foreclosures and addresses. Does anobody have any idea on how to find it ? He told me to go to the IRS website, but I can't find it nowhere. Thanks

2006-09-26 12:01:48 · 1 answers · asked by Anonymous in United States

i had filed my last year tax return but i do not know why its mistake. there is 0.00 in my income and actually there should be some amount. what can i do in this situation . IS it consider as fail to file tax or not?

2006-09-26 11:42:16 · 9 answers · asked by nkcsc123 2 in United States