Taxes - October 2006

I am a Private Limited Company and have a record off all the business expenditure so I can prove what the Business has earnt and spent. I also have a Profit and Loss chart. I have not registered for VAT with HM Revenues and Customs. I know that I must pay Coporations Tax but do nor know how one goes about calcualting it? As my Business is regsitered with Companies House and a formation agent is my company secretary will I be sent all the necessary tax documents by Companies House, HM Revenues etc?

I am asking all these questions because I cannot afford an accountant and need advice? Have I missed any taxes out?

2006-10-24 01:21:16 · 7 answers · asked by Anonymous in United Kingdom

Would the interest paid towards a home loan come within the 1 lac slab or is it deductible under a different section apart from the Deduction of upto Rs.1lac.

2006-10-24 00:49:05 · 4 answers · asked by Ramani S 1 in India

I have a state tax debt which I do not dispute, however... the amount that I am said to owe is incorrect. I have documentation showing past refunds were applied to the debt, thus making the amount much lower than the amount of the garnishment amount indicated. Is there a way to dispute this with the debt collector?
There is already a garnishment being applied to my spouce's wages, how can they attach my wages for the same dept?

2006-10-24 00:48:02 · 6 answers · asked by tarmin8or308 2 in United States

2006-10-23 23:46:42 · 5 answers · asked by SUDIP A 1 in India

My wife and I filed our 2005 Taxes separately, mainly because I owe some taxes from previous years and she doesn't. After she had already received her refund, I discovered that by filing jointly our refund would be much greater as a total than if we filed separately. I have been told that there is a form I can file (along with a new 1040?) that will allow the way we file to be changed. Is that true, and if so, what is that form?

Also, she already received a refund. Would the IRS make her pay back her refund or would they just credit the difference to what I owe. I am under the understanding that they would not make her pay back the refund she already received and want to confirm this.

Thanks.

2006-10-23 23:05:25 · 4 answers · asked by bdeyre 1 in United States

Are there any benefits to filling out my W-9 for my new subcontractor position with and EIN or should I go with my SS#? I want to be able to pay as little as possible in taxes without doing anything illeagal. But I will have a lot of travel expenses and other expenses in this business. Thank you.

2006-10-23 22:09:28 · 5 answers · asked by Mustafa 5 in United States

I have jsut moved back to the UK and I am on emergency tax code who do I contact to get this changed as required to a nornmal tax code?

2006-10-23 22:01:42 · 10 answers · asked by oldfavs 1 in United Kingdom

how much time the process will take time in india

2006-10-23 21:02:09 · 7 answers · asked by sajan 1 in India

My parents current work for a big company, but they also own a small business selling clothing and fashion acccessories. They are looking to buy a used car thru a private party. Is there a way to write it off as a deductible for our own business even though they are working at another company also? Basically, we are trying to save as much money as possible. Anyone have any recommendations such as mileage and depreciation writeoffs or just anything at all.

2006-10-23 20:43:14 · 3 answers · asked by Johnson Huang 1 in United States

2006-10-23 18:11:27 · 7 answers · asked by cricket 2 in United States

If you are being audited for 2003-2004, what are the chances of being audited for 2005, too?

2006-10-23 16:42:24 · 5 answers · asked by Jessica K 1 in United States

1. March 2006: Received letter from IRS saying we owe money (with handy return envelope enclosed) saying we need to pay said amount or else. We have to sign letter (saying we are guilty) and mail back payment within 30 days.
2. Tax Accountant says: don't sign and don't pay
3. Okay didn't do that. Instead we sent a letter saying we disagree.
4. No answer
5. July 2006: Letter from IRS saying we are now delinquent and have a couple thousand dollars in penalties. Pay us now and we will stop the penalties (stop hurting you). If you disagree, file a petition.
6. Called tax accountant. Said: don't sign and don't pay.
7. Okay. Didn't do those things. Filed our petition.
8. Another set of Deliquency Letters.
9. Hired our little US Govt Tax person for $60. Filled out our paperwork.
10. Case # sent
11. Letter from Tax attorney asking for all reciepts etc.
Is this normal? I can't but feel we were never actually audited until after we hired the Govt Tax guy. What else can we do?

2006-10-23 16:36:13 · 4 answers · asked by Jessica K 1 in United States

I have to buy new steel toe boots for work in refineries. Is this deductable and how do I go about making it tax deductable if it is? While I am at it, would it be in my best interest to buy some tools for the job? What if they might not be used on the job too much? If I can make it look like that, it wouldn't matter would it?

Write offs are a very new thing for me. I am making plenty at the refinery gig, so I lots of federal withholding on my taxes. I am basically asking: how can I get this back?

thanks

2006-10-23 16:09:36 · 7 answers · asked by longdis 1 in United States

We are being audited for 2 years and have no idea what to do. We have never been audited before. Do we print out everything we have, or do we print out certain things. Thanks!!!

2006-10-23 15:26:56 · 4 answers · asked by Jessica K 1 in United States

2006-10-23 14:45:43 · 9 answers · asked by RICK 1 in United States

I know this is a tax! How did this start? And how on earth did it survive the years without being declared archaic and just rounded-up?!

2006-10-23 14:45:36 · 5 answers · asked by Eric S 1 in United States

2006-10-23 14:03:06 · 9 answers · asked by Anonymous in United States

Can anyone let me know what question means?

I claim exemption from withholding for the current taxable year, and certify that I meet BOTH of the following conditions for exemption: Last year I had a right to a refund of ALL Federal income tax withheld because I had NO tax liability; AND this year I expect a refund of ALL Federal income tax withheld because I expect to have NO tax liability.

A) I meet the conditions
B) I do not meet the conditions

2006-10-23 13:34:44 · 7 answers · asked by sparksXT 3 in United States

Should a consultant charge taxes on consulting services rendered and pay the taxes to the state?

2006-10-23 13:21:11 · 1 answers · asked by gotchabetcha 1 in United States

The building was passed down to me by my father a year ago.

2006-10-23 13:19:29 · 4 answers · asked by John G 1 in United States

Gross: $632.40/wk. claim single and 0 . $76.19/wk federal tax removed from my check, as is $24.66 per week for state taxes. I claim the same exemptions for state tax. I want to change my federal tax exemptions, so nothing is taken from my check. How many exemptions do I have to put on the form you fill out for your employer?

2006-10-23 11:53:18 · 4 answers · asked by butterfly 1 in United States

2006-10-23 11:35:23 · 2 answers · asked by terri m 1 in United States

2006-10-23 11:29:30 · 2 answers · asked by micahwyatt01 1 in United States

Is it better to leave before the end of the current tax year to get max rebate?

2006-10-23 11:22:10 · 6 answers · asked by Anonymous in United Kingdom

I'm loosing my mind. Everyone keeps saying that if you claim "0" on your w-4 form you will have more withholdings taken out of your check. Doesn't this make you "exempt" from tax?

Meaning that there will be no state and federal income tax withholdings tooken out, you'll just have your social security and medicare tooken out.

What is the difference between putting the "0" on that form or just writing "EXEMPT" on the line?

2006-10-23 10:28:54 · 10 answers · asked by Anonymous in United States

I am a US citizen

2006-10-23 08:58:21 · 5 answers · asked by Anonymous in Ireland

I'm single, have no dependants, and do not ake very much money each year. I'm starting a second job and i don't want too much tax withheld from either job but i don't know what to put on the form. A 1 or a 0 or what. does anyone know what i should do?

2006-10-23 08:17:39 · 15 answers · asked by krys 1 in United States

I pay a babysitter to watch my kids at home while I work. Can I claim that back on my taxes? What about the sitter - will she have to file a return and declare what I give her? How does it work and which way can I go without either of us getting stung?

2006-10-23 07:54:34 · 7 answers · asked by bindilouwho 1 in United States

if not how many times a year can it be done before its deemed a business?as far as tax is concerned

2006-10-23 05:31:50 · 6 answers · asked by yellow2345dog 1 in United Kingdom

2006-10-23 04:45:38 · 2 answers · asked by cmmcarty21 1 in United States