Taxes - November 2006

I own three houses that are let as investment properties
My wife and i are seperating and i amconsidering moving into one of the buy to let properties and getting rid of the tenant
What are the capital gains tax implications of doing this. Have I effectively sold the investment property to myself at the market value on the day I move in?

2006-11-30 23:54:30 · 5 answers · asked by Anonymous in United Kingdom

I will have made 45,000 at the end of December
I have had about 7,000 in federal and 4,000 in state taken
I claimed single/0
About how much will I get back ? (percentage)

2006-11-30 22:52:27 · 1 answers · asked by adh3430 1 in United States

2006-11-30 20:03:08 · 15 answers · asked by Vendetta 1 in United Kingdom

I always assumed the gift tax was payed by the reciever for anything over $10,000. Someone just told me that if my wife and I each gift our daughter $10,000, nobody payes taxes, niether us nor her. Is that true?

2006-11-30 17:37:54 · 13 answers · asked by alan p 1 in United States

2006-11-30 17:34:34 · 7 answers · asked by Anonymous in United States

and do you pay in on social security after you retire (while you are getting it)?

2006-11-30 17:12:08 · 10 answers · asked by Ford Prefect 7 in United States

Say we are both on the loan but I pay the down payment. Can she own 99% of the deed without any tax issues?

2006-11-30 17:08:25 · 2 answers · asked by alan p 1 in Other - Taxes

If I buy a house, can I put the deed in my daughter's name or is their a tax issue with that? Is it considered a gift and therefore taxable about $10,000? Or is there some way around that?

2006-11-30 16:39:47 · 6 answers · asked by alan p 1 in United States

2006-11-30 14:13:47 · 1 answers · asked by gbm 1 in United States

I need details on what the rules and restrictions are for carrying cash money over borders / through customs. Both IRS and US Customs information would be preferred. If the destination country is relevant, it would be the United Kingdom. How much money can you carry through customs without any reporting, declarations, etc... If the amount is more than that, what are the procedures for reporting and declarations?

2006-11-30 14:09:56 · 4 answers · asked by Jason 2 in United States

2006-11-30 13:32:54 · 2 answers · asked by spv 1 in United States

I have a short-term capital loss carry-forward and long-term capital gains in the current year. Can I apply the short-term loss carryforward against the long-term gain?

2006-11-30 13:24:31 · 2 answers · asked by Buddha 2 in United States

I would like to find 2004 w2 forms

2006-11-30 13:24:05 · 4 answers · asked by mgmora1005 2 in United States

2006-11-30 12:47:36 · 5 answers · asked by Shannon W 1 in United States

I am really looking for some free items, pay nothing and they get end- of year write-offs (tax-deductibles) (money will be even better.....

2006-11-30 12:16:51 · 1 answers · asked by Keila O 1 in United States

Lloyd Banks the G Unit rapper.

2006-11-30 12:06:11 · 3 answers · asked by Anonymous in United Kingdom

I live in NJ. I have investment real estate in NY that I am selling for a long term capital gain. I have stocks that I can sell for a long term loss. On my federal income tax return, the gains and losses balance out. My reading of NJ tax law is that this isn't the case - since the gains and losses are in different categories I need to pay capital gains on the real estate, and the stock market loss is "wasted" (and thus I have to pay tax even though total income is zero).

Is my reading correct? Is there anyway to get around this?

Thanks.

2006-11-30 11:58:40 · 2 answers · asked by Ed L 2 in United States

2006-11-30 11:47:21 · 2 answers · asked by sick of fakes.. 3 in United States

2006-11-30 11:31:39 · 8 answers · asked by Tom W 1 in United States

also last year i paid a tremendous amount of taxes, and some of the guys i worked with got most of thiers back

2006-11-30 11:18:37 · 1 answers · asked by James M 1 in Other - Taxes

My husband and I are seperated. I am moving out of state and dont want to have to come back to sign the check. I had no income So I dont have to file. If my husband files seperatly do I still have to sign the check and is he still eligible for the eic since he supported us all year?

2006-11-30 10:58:00 · 3 answers · asked by greeneyes40701 1 in United States

How to collect money from an oversea client?

We are located in US and we gave this service for a UK agent. The gent subcontracted us for a big project. The original owner of this project is not this agent. Now the original owner is using our product but does not have any idea they are using unpaid product. Now the middle man "the agency who gave us the project" collected all the money from the original client but refused to pay us. Now my question is do we have an intellectual property on the product? 2. How to make the agency to pay us. We have all the paper work and agreement but could not find a good collection agency they can tackle this client. What is the best way for us to get our money.

Any idea?

2006-11-30 10:10:26 · 1 answers · asked by gorebet 1 in United Kingdom

This client shows no income, this year, started a business from thier own personal cash. The business is profitable.
What does the bank want before they grant this person a mortgage to buy thier house? What documentation, how do I structure things? There is still room to move around here.
I ve been trying to help this client get thier house closed before the year end, it doesn't look like it is gonna happen. Any thoughts.

2006-11-30 10:03:31 · 3 answers · asked by Chris 3 in United States

The merchant insists on charging full City+State tax rate for my online purchase, but I happen to live outside of city limits, and so should only pay the state rate and no city tax.

It's an ongoing problem that continues despite several people having drawn it to the merchant's attention on various occasions.

I will try to get a refund (after the fact) by calling and writing to the merchant. But clearly they won't fix the underlying problem, so I think it should be brought to the attention of the appropriate regulatory authorities. Whom should I contact?

2006-11-30 09:57:30 · 4 answers · asked by mousebatfollicle 1 in United States

How can I see a list of tax exempt certificate number. Look up a particular agency to find there tax exempt number?

2006-11-30 09:44:26 · 1 answers · asked by millie253 1 in United States

my friend made $50,000 in 2005 and over $100,000 in 2006 so far as an independent contractor (1099-misc). she did not file for 2005 income and believes she can get away with not paying as much as she owes for 2005 and will owe for 2006 by settleing with the IRS when and if they contact her. i want to give her some advice on this but do not want to scare her un-neededily. if she made this amount ($100,000) in 2006 so far i estimate she would owe almost $40,000 in taxes. she says she has $30,000 in savings but will get rid of it before the IRS contacts her and then will settle for a lesser amount. (maybe use the $ to buy a car, which she believes the IRS can't confiscate if it is her only means of transportation). is this true? why hasn't the IRS contacted her about the $50,000 she made last year (1099-MISC). any advice? thank you.

2006-11-30 08:05:53 · 8 answers · asked by john b 1 in United States

My brother and I are buying a house together in CA. Since he has a higher credit score, we are using only his name on the mortgage application but both our names will be on the home title. Am I still eligible to get tax write off (interest) or is he only able to do so? Thanks!

2006-11-30 07:29:08 · 7 answers · asked by sws 1 in United States

They are taking 2/3 of my take home pay. < $10k in total garnishments at this time...

2006-11-30 06:56:46 · 7 answers · asked by Kirk M 1 in United States

2006-11-30 06:33:14 · 6 answers · asked by crimsongraycoug 1 in United States

2006-11-30 06:32:42 · 3 answers · asked by crimsongraycoug 1 in United States