Taxes - October 2006

what will be the tax advantege if i get a roth ira?

2006-10-29 06:24:56 · 4 answers · asked by david 2 in United States

at present such bonds are not available

2006-10-29 06:17:35 · 1 answers · asked by passinha 1 in India

2006-10-29 06:02:36 · 4 answers · asked by Clin 1 in United States

my 15 yr old son has recently started working his first job...i like to know what i will be doing differntly when i file for 2006 taxes...and will he get any money back?

2006-10-29 05:57:05 · 2 answers · asked by Anonymous in United States

Can I carry it forward in 2004 or do I have to amend my 2003 return? I had no income in 2003. That's why I didnt use it. Yeah, I'm filing late!

2006-10-29 05:30:51 · 5 answers · asked by Debbie P 2 in United States

Watch this movie:
http://www.imdb.com/title/tt0772153/
here:
http://video.google.com/videoplay?docid=-4312730277175242198

Will you stop paying your taxes now?
Will you stop filing your income tax return now?

Why?

2006-10-29 03:50:52 · 6 answers · asked by SmartAlex 4 in United States

I've lived in england all my life and I cant believe we are letting our government get away with the stuff they are doing..specifically Council Tax... I understand that they may have to reform how council tax is calculated but I cant decide who's more stupid..them for thinking they can get away with what they are doing or us for letting them.

When did this country become a dictatorship... since when was it ok for someone to come in to your home, that you have spent your hard earned money buying and (some people scraping a living) making comfortable and nice, and they want to come in to your home and decide that they take more money for your hard work... plus the tax that you have already spent buying stuff, tax on your wages etc....I understand if you have added 5 bathrooms and a swimming pool as this may cause more demand on services for your house but most improvements are cosmetic....and now they are rumouring that they will tax us on where we live!?

This government won't be happy till we all live in a crap whole... where is the insentive for the more run down areas, where lets face it people may not be able to afford to spend much money on their houses, especially if there council tax goes up for the privalige... and now it will go up even more if they spend money on the outside of the house.

They complain that people are spending less...but what do they think happens when they take the money from us before we get the chance to buy food and clothes.

What do people think...is it about time the government listen to the people who pays there over infalted wages!

2006-10-29 02:44:38 · 10 answers · asked by jimbob 2 in United Kingdom

£3,400 a year ..! ... it that because i have a 5 bed House in Essex..? .... Yet the scum bags a mile from me pay phuck all..!!!
OK , im lucky ...the house is mine ( payed cash for it 2 years ago )..But i still have to pay this Tax ..why ? to get my Wheel bin empited one a week ,,? ( i can do this ) ...

Why am i pucked for having a Big House..?
My Hard Work gave me this , so whay am i made to pay when the "The Dole crew" can get away with paying nothing..?
Your Thoughts please.

2006-10-29 02:17:46 · 11 answers · asked by Anonymous in United Kingdom

i just got married but have not change my status has far as my paycheck is concerned. will i be saving money if i change my status?

2006-10-29 01:00:01 · 5 answers · asked by ofo21 1 in United States

q#14

Using accrual accounting, expenses are recorded and reported only

when they are incurred, whether or not cash is paid ?
when they are incurred and paid at the same time ?
if they are paid before they are incurred ?
if they are paid after they are incurred ?

2006-10-29 01:41:59 · 6 answers · asked by michaeljustussvcc 1 in United States

My wife and I file a joint tax return.
Our accountant made a mistake by underestimating our personal state tax witholdings for 2005. I detected the error and got a higher state tax refund. However he tells us that, on the federal side, correcting the state tax error won't make any difference because of the alternative minimum tax. Is that correct?
If it doesn't in then in what situations does increasing/correcting the state tax withholdings make a difference for the federal tax return?
Thanks

2006-10-29 00:29:59 · 4 answers · asked by nebir 1 in United States

I have arrived last year through the green card visa lottery program. I'm declared as resident alien for tax purposes . I would like to sell my house from my origin country and bring the money in the US to help build my new life here. Please, I would like to know if I must to pay taxes and if yes how much? Is the amount of the money transfered in the US related to any tax or other restrictions?
THANK YOU,
B

2006-10-28 20:55:06 · 3 answers · asked by bob b 1 in United States

I took a teenager in for over a year. His mom and step-dad said that I can claim him on my taxes. The biological dad might try to, even though he did not care for him or pay child support for two years. I really don't care one way or the other if I claim him. The mom and step-dad are the legal guardians, but feel that it is only fair that I claim him. So, what do I need to do?

2006-10-28 20:10:17 · 5 answers · asked by cheerstoyou 2 in United States

was unemployed during 2006 due to an injury but got lucky and won $10,000 on a lottery ticket the state took $2,500 in taxes as soon as I claimed my prize,I have 2 kids and was wondering what I do on taxes

2006-10-28 19:15:22 · 6 answers · asked by MARY P 1 in United States

2006-10-28 18:47:19 · 10 answers · asked by sanchez detail 3 in Other - Taxes

I believe that post tax COBRA health insurance payments are tax deductible on your income tax return under the health deductions, but I am not sure. I know that you have to have 7.5% (i think) of your income for the health cost deduction to kick in, but do COBRA health insurance payments count toward those deductions?

Please provide any links to proof of the deduction.

Thanks (I'll pick a best answer ASAP)

2006-10-28 17:14:27 · 5 answers · asked by Anonymous in United States

I'm a first time home buyer, so I'm not clear on how the mortgage loan interest deductible works.

For example, if I pay $6000 federal tax per year and the mortage loan interest is $9600 per year, do I get $6000 back when I file tax? Or $9600 is simply deducted from my annual gross income when I file tax?

2006-10-28 16:49:00 · 5 answers · asked by Kim 2 in United States

http://www.irs.gov/pub/irs-pdf/fw4.pdf#s...

i got my first job this month. When i filled out the form oct 6, I put "EXEMPT" on line 7, now i'm worried,
-should I have left it blank? Will i get in trouble with the IRS?

i'm single
live with parents
i have no kids
mom claims me as a dependant
I will be make like a total of $1,500 this year.

-if i get a 2nd job november how would i fill out the w4 form for the second job?
and will i have to change the info on the FIRST job's w4 form?

2006-10-28 16:44:22 · 6 answers · asked by sweety 3 in United States

http://www.irs.gov/pub/irs-pdf/fw4.pdf#search='w4%20form'

i got my first job this month. When i filled out the form oct 6, I put "EXEMPT" on line 7, now i'm worried, should I have left it blank? Will i get in trouble with the IRS?

i'm single
live with parents
i have no kids
mom claims me as a dependant
I will be make like a total of $1,500 this year.

when i filled out the form on oct 6, i put "EXEMPT" on line 7, now i'm worried, should I have left it blank?

2006-10-28 15:13:07 · 6 answers · asked by sweety 3 in United States

i work in the downtown city , and i pay a monthly fee of 125. a month just to be able to park. will i be able to write that off of my taxes this year, i itemize my deductions. any suggestions? thanks

2006-10-28 15:08:36 · 7 answers · asked by r c 1 in United States

I just bought a purebred pomeranian which I just registered with the continental kennel club .Someone told me to claim her . How does this work?

2006-10-28 12:59:16 · 14 answers · asked by Anonymous in United States

2006-10-28 12:18:53 · 7 answers · asked by CROFT 2 in United Kingdom

I have just registered for VAT, but its from 25-08-2006, following that date I made purchases, I kept the receipts for my accounts, but have been reading up on VAT, & it says I should have asked for a VAT INVOICE, Its too late to ask for one onw, so what will happen, am i aloud to use normal receipts

2006-10-28 11:46:05 · 4 answers · asked by Anonymous in United Kingdom

2006-10-28 10:38:31 · 6 answers · asked by regina j 1 in United States

Assume that 1) a person has several million dollars and wants to retire, 2) they probably have 30 years left to live, 3) their investment style is such that the majority of their future income would come from long-term capital gains. Given these assumptions, wouldn't it make sense for that person to acquire citizenship in a country that has no capital gains taxes (e.g. Switzerland, New Zealand, etc) and renounce their US citizenship? Without capital gains taxes, assuming a 9% annual return, each unspent $1m would grow to $1m x (1 +9%)^30 or $13.27m in 30 years. With a 25% cap gains tax, each million would only grow to (1 + 9%(1 - 25%))^30 or $7.10m. It seems to me that such an individual would gain another 87% (13.27 / 7.10 - 1) in long-term investment earnings simply by changing their citizenship. If this is true, it would seem to provide wealthier US citizens a compelling reason to take their money elsewhere which would hurt the US economy in relative terms. Is this correct?

2006-10-28 09:48:59 · 2 answers · asked by polyglot_1234 3 in United States

I bought a 1996 truck (dodge) for my son in 2002 and was registered under my name. This year my son bought a new truck and I let him trade it in on the new one. Now the new truck is under my son name with new registrations. I returned the old plates to the DMV and they provided me with a STAMP document that the old registration plates were return to them. Also, it indicated that I should notify my town tax accessor to inform them that I no longer own the 1996 Dodge. So, I went to the town building with my DMV document and they will not accept that. They want to know where the truck is; Am I oblige by law to show them the trade in papers and let them know of my private affairs.
I thought that if you either get a new registration or retrun old plates the DMV notifies the town you live in. Please advice.

Thanks!
aawillia8586@sbcglobal.net

2006-10-28 09:15:41 · 4 answers · asked by Canada 1 in United States

2006-10-28 08:55:19 · 3 answers · asked by Kat t 1 in United States

2006-10-28 08:05:38 · 6 answers · asked by Anonymous in United States

Hello. This question is about capital gains on appreciated stock. I'm 22 years old. I have zero income because I'm above full time in college (18 hr instead of 12). So theoretically, I fall into the lowest tax bracket. I'm considered independant of my parents (even though im not 24) because of time spent in the US Army. Recently, I purchased the following shares:

1000 shares @ $1.50/share (June)
2375 shares @ $2.56/share (October)

So far, the shares are up to nearly $3 each (Delphi). I've already made a gain of $2000 on these shares. There is talk that the company will be bought out around the middle of next monty for $10 billion which would send these shares to $17.79 each. I plan on selling these off at around this time. I have already made a $100 donation to MADD this year.

How can I minimize my capital gains tax? Can I write off college expenses? Rent for my apartment on campus? What if I start a shell business for the sole purpose of creating a loss? Any ideas?

2006-10-28 06:38:52 · 5 answers · asked by Steven 2 in United States

2006-10-28 06:08:03 · 3 answers · asked by Lady B 2 in United States