Taxes - October 2006

I currently own a financial serivces company but would like to add tax and audit services onto my offerings to clients. I am not a CPA but I would have CPA's working in the company, are there any licensing requirements for this other than the CPA's working there? I know for tax purposes one doesn't need to be a CPA but auditing? Anyone have any ideas on this?

2006-10-26 10:32:59 · 6 answers · asked by Wannabe007 2 in United States

My fiance owes money to IRS but he has a payment plan that he is paying and he is planning on opening a savings and checking account

2006-10-26 10:03:42 · 11 answers · asked by Meche 5 in United States

It would appear from what I have read, that the Canadian recipient of the royalty income need only file a Certificate of Foreign Status of Beneficial Ownership For United States Tax Withholding - Form W-8BEN with the US Person paying the royalty in order to claim treaty relief from the 30% withholding tax otherwise required to be withheld from the payment. Therefore application for an EIN is unneccessary

2006-10-26 09:42:31 · 2 answers · asked by TIM H 2 in United States

with a church being a not for profit organization what laws do must pastors and ministers run the risk of getting into serious trouble about ?

2006-10-26 08:37:26 · 7 answers · asked by cjw_workingmom 1 in United States

How do we treat the the premium that the buyer had paid for it if that person died and then the insurance company iussed the check for the beneficiary?
For example, the buyer paid 3100 for the insurance and then the buyer died, the insurance company issued the check for 14,643 for the beneficiary(included 14,000 on proceeds and 643 in interest), obviously 643 is taxable, but how do treat the 3100 that the buyer paid for the premium?
Thanks

2006-10-26 08:01:55 · 4 answers · asked by ngoctram n 1 in United States

I am moving for a new job, but only owned the house for a year, so I am likely to lose 10-20k selling. I don't want to rent the house out...

2006-10-26 07:59:17 · 6 answers · asked by eye.surg 2 in United States

At present I am 75 years old and I withdraw $12000 from IRA annually.

2006-10-26 07:32:12 · 3 answers · asked by Anonymous in United States

1. Given below are data for demand and supply curves for footballs.

Price ($): 16 20 24 28 32
Quantity demanded: 90 80 70 60 50
Quantity supplied: 30 50 70 90 110

(a) In this market, the equilibrium price is $24 and equilibrium quantity is $70. (2 points)

(b) Using mid-point elasticity formula, the price elasticity of supply between the price of $24 and $28 is 1.65. (2 points)

(c) Suppose the government imposes a tax on consumers in this market. As a result consumers buy 30 units less at each price. The new equilibrium quantity in this market is 50. (2 points)

(d) After the tax, consumers pay a price of $32 while the sellers receive $20. The government receives a tax of $12 per unit. (2 points)

how we calculate (c) and (d) ??

thank you very much guys

2006-10-26 07:26:07 · 2 answers · asked by huligancho 1 in United States

2006-10-26 07:21:28 · 3 answers · asked by Barbara P 1 in United States

if a tax accountant has not filed your taxes since the 90s and then suddenly you have a tax lien aimed at your house... what are the steps to go to correct this and get everything fixed??

2006-10-26 07:10:11 · 6 answers · asked by sweetandprettyinnc 2 in United States

2006-10-26 06:15:27 · 2 answers · asked by ThePole 3 in United States

Should we change it now or should we wait until 2007?

2006-10-26 05:25:27 · 16 answers · asked by Drewk 2 in United States

I own a house, my son lives in, I rent nearer to my job. I want to sell him my house, his credit is fair. I have owned the house since 1985, refianced in 1995. Pay off is about 40,000.00. I want to get as much as possible for the house without putting them in a bind. 'The house needs some work, maybe about 8000.00. for a new ac and flooring and outside boards. Should I fix it up first to get a higher appraisal, sell it cheaper and let him get full loan and fix it himself? What should I do? I want to buy closer to work and need the equity and to get this out of my name.

2006-10-26 04:59:42 · 3 answers · asked by JILL B 1 in United States

I work for a company that used to have a company by another name,. That company closed over two years ago. However I received an invoice from teh Gov't of Ontario regarding taxes in 2004 with interest. Do I have to pay this invoice?

2006-10-26 04:40:59 · 10 answers · asked by Anonymous in Canada

I just bought a house this August, what associated expenses and taxes can I deduct? Mortgage fees, closing costs?
Property taxes? Home Improvement $$?
Also, this will be the first time we've itemized, up until now we haven't had a reason to. Can we deduct medical expenses (co-pays, deductibles) and is there a minimum before you can do so? I'd bet we've spent at least $1K this year.

2006-10-26 04:01:21 · 7 answers · asked by Jane M 1 in United States

2006-10-26 03:30:50 · 5 answers · asked by candle.junkie 1 in United States

Here is my situation: I just bought a house July 31st of 2006. This is my first home purchase. I would like to adjust my taxes withheld with my employer to optimize cashflow. I bought my house at roughly $200,000. I make $70,000 per year. How do I change my taxes withheld to optimize my cash flow situation per month. I'm poor now! Please help tax gurus.

2006-10-26 03:26:48 · 6 answers · asked by jim83181 2 in United States

2006-10-26 01:42:26 · 4 answers · asked by HomePapa 3 in United States

2006-10-26 00:46:30 · 1 answers · asked by YourPalJoeyJoJo 2 in United States

2006-10-25 23:49:01 · 6 answers · asked by Hulas K 1 in India

2006-10-25 23:21:49 · 4 answers · asked by susha 1 in India

I am selling agricultural land in Haryana and reside in Delhi,the receipts i understand are tax free.I sek advice to ensure that proper documentation is done/proper process is followed to ensure income tax hassles now or later on.I want to show actual receipts,an all white transaction.The seller agrees to pay me through bank draft but wants to show lesser price at the time of registration of sale to pay lesser stamp duty.Pse advice

2006-10-25 23:06:15 · 2 answers · asked by yogi_nsc 1 in India

Is any website is providing the service like if i provide my PAN number it should give my contact details.

2006-10-25 22:45:07 · 2 answers · asked by abburi 1 in India

would I be responsible for any back taxes that he owes. His identity was stolen four years ago and the IRS claims that he owes for income someone made using his name and SS#. He has tried to explain but they don't want to hear it.
Would the back taxes owed be tranfered to our taxes or possible refund? Also would we have to file a joint return because of the marriage?

2006-10-25 21:42:33 · 6 answers · asked by KieKie 5 in United States

My Hubby doesn't get his check garnished & he doesn't make payment to the DA or go through DSS. He has a court order to give his son's mother a check on a monthly basis.

2006-10-25 21:40:41 · 6 answers · asked by PeanutsMama 2 in United States

hi does anyone know what time tax credit goes into the bank in the uk cos i phoned about 5ish and it wasnt there so can someone please answer this question for me as we live in germany as my husband is in the army and it costs me a fortune phoning the bank many thanks xxx

2006-10-25 18:16:55 · 5 answers · asked by Anonymous in United Kingdom

if u know some is runs away evading paying taxe , how can we reporting those people who
runs away evading paying taxes?

2006-10-25 17:24:36 · 4 answers · asked by sandra 2 in United States

2006-10-25 16:51:58 · 5 answers · asked by jozryd 1 in United States

I have been told that the fees received from Student Homestay fees are regarded as a "breakeven" and therefore do not need to be reported as income.Does anyone have knowledge or reference?

2006-10-25 15:53:04 · 3 answers · asked by homer_a_d 2 in Canada

estate taxes
nonresident
inheritance taxes

2006-10-25 14:34:30 · 2 answers · asked by jirafaa 1 in United States