Taxes - October 2006

2006-10-12 07:11:45 · 3 answers · asked by mark h 1 in United States

2006-10-12 07:00:24 · 2 answers · asked by tis4trble 1 in United States

2006-10-12 06:42:09 · 4 answers · asked by ylnerk 2 in United States

2006-10-12 06:05:17 · 5 answers · asked by nasreen_ali2000 1 in United States

2006-10-12 05:52:03 · 5 answers · asked by tellikitis3 1 in United States

2006-10-12 05:13:03 · 5 answers · asked by chrissylou 1 in United States

If I own a business and have an estimated annual income of $63,000. My Social Security tax is 12.4%, Medicare is 2.9%, and my estimated federal income tax rate is 22%. How much quarterly estimated tax must I send to the IRS for the first
quarter?

2006-10-12 04:47:34 · 5 answers · asked by dwali20 2 in United States

I live in New York City, and I recently got a temp job through an agency (also in NYC).

On my W4, I claimed “Exempt” from taxes because last year, I had no tax liability, and this year, I can reasonably expect the same (I had no income most of the year, plus significant medical expenses). The payroll guy at the temp agency, however, refuses to list me as “Exempt.” He says that I can only claim “Exempt” if I'm either (1) a full-time student, or (2) working on an H1B Visa. He says that this is a NYC regulation, but I haven’t been able to find information about this regulation anywhere.

I’ve shown him the section on the W4 that states the rules for claiming exemption. He says I’m just illegally trying to avoid paying taxes. He has refused to see any documentation I have that proves (according to the rules on the W4) that I should be exempt.

Here’s my ?: Who’s right? If I’m right and he refuses to let me claim “Exempt,” how can I stop him from doing this, eg, do I report him to IRS?

2006-10-12 04:14:20 · 3 answers · asked by annelidic 1 in United States

i am trying to fill out my student financial aid and it asks me what is my earned income credit and i have no idea wat that is.

2006-10-12 03:33:55 · 3 answers · asked by Authentic 3 in United States

OK, I am itemizing this year since i just purchased a home. What i need to know is, what part of my closing costs, if any can i deduct (besides taxes and interest). Also, can i deduct my medical and dental insurance premiums? The IRS books just don't tell much, thanks in advance for any help!!

2006-10-12 02:59:21 · 8 answers · asked by littlebettycrocker 4 in United States

I have a 1099-A on a foreclosed property I'm handling for my mother-in-law. In Box 2, $43000. In Box 4, the FMV is 54000. Do I show the difference as income, loss or nothing?
Thanks,

2006-10-12 02:33:49 · 2 answers · asked by Warren B 2 in United States

2006-10-12 02:11:30 · 12 answers · asked by Ravindra S 1 in India

If you receive a prize from a tv show that is taxed along with airfare and lodging that totals about $2800 I know this is added to your income at the end of the year but how much is taxed on it state and fed?

2006-10-12 01:58:37 · 9 answers · asked by themilhouseman 2 in United States

Are derivative transactions are considered as speculative transactions? or business income or loss.

2006-10-12 01:27:27 · 4 answers · asked by Venkat 1 in India

i just recieved notice of a wage levy from the IRS and they told me I had to file 2005 in order to set up a payment plan, any ideas if they are steering me in the right direction? What are the options?

2006-10-12 01:11:35 · 3 answers · asked by Anonymous in United States

2006-10-11 23:58:57 · 5 answers · asked by Ravindra S 1 in India

It is a tax of Re.1 in the form of revenue stamp which should be affixed on receipt for any money or other property, the amount or value of which exceeds Rs.5000.00.

2006-10-11 23:37:59 · 2 answers · asked by kks 1 in India

In the city I live in, (in Ohio) I have RITA taxes. I rent, work in a different city. I have no children, and don't use any city sevices ( i'm rarely home as I go to school in yet another city) I was sent a RITA tax form back in 2003- and never heard back since. It seems they lack the punitive abilities/ resources that the fed and state do, so I find myself thinking-------- F*** RITA. I don't care if this is a moral or ethical problem, I only care about whether RITA can do anything about it.

2006-10-11 19:19:54 · 2 answers · asked by cwido25 2 in United States

OK..here is the deal. My Dad is a CPA/Accountant and does my tax return each year. I'm 21 years old. I want to get married to my girlfriend but I don't want him to find out. Is there a way to file my return as "Single" so he could avoid finding out?

Also, if some of you would advise me to get someone else to do my tax returns instead of my Dad, to avoid this problem. What would a good "excuse" to tell my Dad for wanting someone else to file it for me?

Lastly, What is the best time to get married with relation to this problem? Like suppose I had him file a tax return as "Single" how much time would that buy me before next year him having to file it as 'Married?" When would be the best month to do this?

Sorry for a confusing bunch of questions and thanks for reading and responding! :)

2006-10-11 19:08:39 · 9 answers · asked by Tommy R 1 in United States

This will be my 1st yr filing taxes as a homeowner. i am lost. i'm not sure what receipts i need to save or what i can claim. can anybody help please.

2006-10-11 17:03:21 · 15 answers · asked by lynne 2 in United States

Websites or phone numbers besides the IRS.

2006-10-11 16:45:47 · 7 answers · asked by clueless-soul 3 in United States

2006-10-11 15:25:48 · 2 answers · asked by lillonghorn 1 in United States

I don't think I owed any taxes for the state(I live in ohio). I filed my federal income tax return but didn't file my ohio on time because I had no idea what was the correct form to use. Now I'm worried that I'll owe fines or something. I haven't gotten anything in the mail notifying me about not filing state taxes and I know nothing about what to do. Any help would be much appreciated!!!!

2006-10-11 14:21:55 · 4 answers · asked by estephania2182 3 in United States

My husband makes about 65k a year and has a child to claim as a dependant as well as depreciation from farm equipment etc. Last year he got a federal refund of about 2100. I only worked three months this year then drew unemployment. I have 2 kids that I get to claim on taxes. We didn't get married until the very end of July so less than half the year we were married. Would it be better if we filed a joint reurn and claimed married with three kids or to file seperate and me file for the unearned income credit on my two. I ask because what we get back is going to be a big part of a down paymnet on our new house.

2006-10-11 14:13:27 · 3 answers · asked by Martha S 4 in United States

and lived and worked in Maryland? I am a single young guy just out of college with no dependents. What do I claim?

2006-10-11 14:02:57 · 3 answers · asked by Anonymous in United States

What are the limitations such as number of kids, AGI ceiling...etc.?

2006-10-11 13:16:35 · 4 answers · asked by JPS0909 1 in United States

Any details you can add to let me know how to report this on my taxes would be most appreciated. Obviously, this is the first time I'm dealing with this.

2006-10-11 12:54:25 · 2 answers · asked by DigitalMonkeyMan 1 in United States

2006-10-11 11:39:43 · 7 answers · asked by DALE M 1 in United States

2006-10-11 11:17:55 · 6 answers · asked by Anonymous in United States

To limit liability, I have suggested that a group with which I am involved register with the state as a non-profit corporation. Going through the complications of 501(c)(3) status isn't important for us. We don't have employees, or any assets other than, potentially, a bank account. The main objection is that we would have to file a tax return. I doubt this would be terribly involved. I can't get an answer on what type of tax return we would need to use. Would we use one for a regular corporate tax return since we're not a 501(c)(3)? How complicated are these returns? We probably bring in $5,000 or less per year from donations and fundraisers.

2006-10-11 10:37:01 · 5 answers · asked by kady1863 1 in United States