Taxes - November 2006

2006-11-23 20:27:09 · 9 answers · asked by Anonymous in United Kingdom

even if i only worked like for 4 month?

2006-11-23 19:12:41 · 2 answers · asked by Anonymous in Other - Taxes

I didn't work all year and spent about $1300 this year, the father covered the other half totaling around $2600.

2006-11-23 18:10:49 · 4 answers · asked by Julie S 1 in United States

Does Dubba have to pay taxes?

2006-11-23 18:01:52 · 7 answers · asked by Shaide 2 in Other - Taxes

can some one in a foreighn country trade us stocks. and does that one need to pay taxes and how?
thank you

2006-11-23 17:46:45 · 4 answers · asked by tom c 1 in United States

To claim the baby bonus (in Australia) I need a base year. Hes dob is 14/10/02. So is it 01 or 02????

2006-11-23 17:25:35 · 2 answers · asked by blahblahblah 5 in Australia

My roommate and I jointly own our home in NC (both names on the title). This will be the first year that the interest paid on our loan can be claimed on a tax return. Can only one of us use it as a deduction (which means, I guess, that we'll have to alternate years), or is there a way that we can split it?

2006-11-23 16:18:04 · 2 answers · asked by ganymede2981 2 in United States

can you explain me about my tax liability for the financial year 2006- 2007

2006-11-23 16:10:21 · 9 answers · asked by kurian7in 1 in India

2006-11-23 15:52:30 · 6 answers · asked by Ace 1 in United States

Every year, you are allowed to pull your credit report from all three credit agencies.
I did this, and found a federal tax lien from 1991, for over 5000$.
I feel this has surely pulled my credit score down.
This tax lien was due to a business my husband had at the time and filing a joint tax return. I know for a fact that the IRS has been paid all money due to them, because we have gotten refunds in later years.
What should I do, and is there any action I could take for messing up my credit for all those years?

2006-11-23 15:06:02 · 3 answers · asked by sylvrrain 2 in United States

When I am ready to retire and am at an age when there is no penalties for withdrawing my money, what taxes should I expect to be hit with?

I would also like to know the low, median, and high tax bracket (percenatage) I could end up in if anyone knows.

I do not live in a state with incomet tax either.

Thanks you!

2006-11-23 14:58:30 · 2 answers · asked by lazyft 1 in United States

What is confusing to me is the restriction about adjusted qualified edu expense not exceeding early distribution to qualify for exception to10% addl tax rule. Are we to consider the absolute amounts of 40K - total early distrbution amount and 11K edu expense ?

2006-11-23 13:57:06 · 1 answers · asked by rao_has_question 1 in United States

2006-11-23 11:56:21 · 4 answers · asked by rekha_ch05 1 in Other - Taxes

2006-11-23 11:26:23 · 5 answers · asked by Chris B 1 in United States

2006-11-23 10:51:46 · 3 answers · asked by Chris B 1 in United States

The casino is in Oklahoma. I was just wondering if Kansas people who win the lottery down in Oklahoma will have to pay taxes on it if it reaches a certain dollar amount?

2006-11-23 10:13:27 · 4 answers · asked by Renee B 2 in United States

Could anyone please tell me if a borough council (Middlesbrough) can refuse to accept to(take back a debt) instead of allowing baliffs to enter my home and take what items i have,to recover monies owed for council tax.I eas told by one of there advisors that management had told staff to NOT accept offers from people who make an offer to pay back what they owe in council tax.I thought the law stated that,if i made an offer,then council would accept it and there by stop any attempt by baliffs to take what little i do have.But a management derective is forbiding any staff to accept.Is this right?Please answer only if you know rules regulations on council matters.I stand to lose my family over this,and the past 4years of hell we have suffered from them.THANKS

2006-11-23 10:08:30 · 8 answers · asked by hollafty 1 in United Kingdom

i read that if you saved more than $800, or something like that, with debt negotiation, that it gets reported to the IRS and youre liable for paying taxes on it. is this true? if it is, whats the benefit, then, of doing the negotiation if youre going to have to pay 30%, or so, on taxes? i dont get it...

2006-11-23 09:16:06 · 3 answers · asked by Laura P 1 in United States

Is money obtained from a "Transfer on Death" brokerage account subject to Ohio estate tax if the deceased resided in Ohio? What if the recipient resides in another state?

2006-11-23 08:44:08 · 2 answers · asked by Anonymous in United States

The only thing that the IRS has not yet taxed is the male penis. This is due to the fact that 40% of the time it is hanging around unemlpoyed, 30% of the time it is hard up, 20% of the time it is pissed off and 10% of the time it is in the hole. On top of that, it has two dependents and they are both nuts.

Effective January 1st, 2004 your penis will be taxed according to size. The brackets are as follows:

10"- 12" Luxury Tax..........$30.00
8"- 10" Pole Tax.............$25.00
5"- 8" Privilege Tax.........$15.00
4"- 5" Nuisance Tax..........$3.00

Males exceeding 12" must file under capital gains. Anyone under 4" is eligible for a refund. PLEASE DO NOT ASK FOR AN EXTENSION!!!

Sincerely, Pecker Checker IRS

*****NOTE*****

We are still waiting for answers for the following questions:

- Are there penalties for early withdrawals? - What if one's penis is self employed? - Do multiple partners count as a corporation? - Are condoms a deductible expense as work clothes? - Is there an additional tax if you are not circumcised?

2006-11-23 07:50:53 · 3 answers · asked by Anonymous in United States

Scenario:
1. I have a $6000 stock loss that I'm never going to recover. I'm ready to sell.
2. I have a mutual fund that has long-term gains. It will cost me 1% redemption fee to sell.

What is the better option and why?
1. Deduct the $6000 ($3000 at a time) from my income in successive tax years. I'm in 28% tax bracket. CA State Tax 9.25%. (I'm not smart enough to figure the math on this.)

2. Sell $33,000 of the mutual fund shares (this will generate $6000 long-term gain). Pay the redemption fee of $330. Use the $6000 gain to offset the loss. Reinvest the $6000 in another mutual fund.

2006-11-23 07:05:32 · 3 answers · asked by Anonymous in United States

2006-11-23 06:45:33 · 5 answers · asked by Joseph D 1 in United States

2006-11-23 05:58:53 · 7 answers · asked by jonquilblack 4 in United Kingdom

2006-11-23 04:58:39 · 7 answers · asked by Anonymous in Other - Taxes

I also get .22 per mile for business miles

2006-11-23 04:10:52 · 6 answers · asked by John S 1 in United States

I own an S-corp that purchased a significant amount of county property tax liens. The liens accrue interest at 12% per year on the face amount of the tax plus any statutory costs, which include subsequent taxes paid. In order to preserve your claim you are required to pay all subsequent taxes on the property. They have until April 2008 to redeem their property and pay all costs plus interest. The initial payment is of course an extension of capital. However, are subsequent payments an expense or are they capitalized? For example, expenses for title work and to pay other subsequent taxes are they capitalized expenses and an increase in basis or an expense of holding the lien. About 1% of all liens default so recovery of costs with interest are highly likely. The lien expires without claim if not acted upon in a timely fashion as described in the governing statute by the owner. The property converts by law if acted upon in a timely fashion to the lienholder.

2006-11-23 03:37:12 · 2 answers · asked by OPM 7 in United States

Income taxpayers are Husband and Wife. Both are residents but not citizens of U.S. Husband earns 450K per year for 30 years which is included on joint return. Wife splits the earnings with husband every year. Was the $225 per year to wife a gift? Non-taxable gifts to spouse is limited because they are non-citizens.

2006-11-23 02:03:13 · 4 answers · asked by woodluvto 2 in United States

Just seen the news of this on the Yahoo page and am most disappointed. I was really hoping they would allow for this, but at the same time, didn't think the governement would let £16bn a year slip through their fingers. What does anyone else think?

2006-11-22 23:41:59 · 14 answers · asked by Paul B 2 in United Kingdom

I am currently single and pay around 24% Tax. What percentage does one pay when married?

UK answerers only please.

Thanks

2006-11-22 20:20:30 · 6 answers · asked by losparx 2 in United Kingdom

2006-11-22 20:13:17 · 10 answers · asked by rayapati r 1 in United States