Taxes - November 2006

2006-11-30 06:29:53 · 6 answers · asked by Tony 2 in United States

I tried to use the H&R Block tax estimator - which I've used every year for the past few years - and it's giving me a zero for the result even though what I made with self employment falls within the bracket for earned income credit.

2006-11-30 06:19:08 · 4 answers · asked by Someday Soon 2 in United States

I am writing a report on taxes around europe and I need an accurate answer to this question please? if you could tell me the percentage tax , that would be brilliant!

2006-11-30 06:17:28 · 2 answers · asked by Vendetta 1 in United Kingdom

I am thinking about buy a franchise business but it looks like I will not be able to make money once I take out all of my expenses and pay the note. What type of tax breaks if any will I be entilted to if I decide to buy the Franchise?

2006-11-30 06:16:52 · 1 answers · asked by Chad S 2 in Other - Taxes

2006-11-30 05:40:00 · 3 answers · asked by robf 1 in United States

If I fly home on weekends off from a temp work location away from my tax home, can I deduct the airfare? Do I need to limit the deductions to the amount I would have spent on meals and lodging if I had stayed at the temp site? I get conflicting answers to this question.

2006-11-30 05:26:15 · 5 answers · asked by Patrick M 1 in United States

Assume James purchased 1000 shares Microsoft Inc. stock on Jan. 12, 2004 for $28,000. On May 12, 2005 he sells it for $25,000. On June 1, 2005 he buys back 700 shares of Microsoft stock for $15,000. Discuss and explain the tax ramifications to James on his 2005 federal Income Tax return.




Assume he also purchased 100 shares of IBM on May 13, 2005 for $8,000 and sold it for $14,000 on October 12, 2005. How does this transaction combine with the first transaction?

2006-11-30 04:59:15 · 5 answers · asked by Ronda F 1 in United States

I receive the high rate for the care component for my 4 year old son who has severe developmental delay and learning difficulties.

I was told when my son turned 3 i could apply for the mobility part too,i recently phoned to ask for a form to be sent out and the woman i spoke to said i wouldn`t be entitled to it for my son as he isn`t disabled and can walk.

Although he can walk he is being assessed for dyspraxia and he can be quite clumsy and falls over alot when out,he gets anxious when out in busy places and has absoloutly no sense of danger and is fascinated with wheels and cars and would shoot right onto the road in a second,this is why i need to get taxi`s most places.

I was just wondering if anyone could advise me if i may be entitled to the mobility part too,answers appreciated,thanx.

2006-11-30 04:58:04 · 9 answers · asked by onlyme 5 in United Kingdom

I recently accepted a job in Hosuton TX at a salary of 52k. I am single mom with 2 children and pay childcare expenses. I am also a home owner. I am accustomed to getting substantial income tax returns and would like to continue to get them. How do I make sure that I can keep the most money during the year from my paycheckks without owing at the end of the year? I want to maximize my dollars throughout and at the end of the year. Last year I made 41k so I want to make sure my tax bracket is not going to throw me for a loop? Any general advice? Thanks!!!

2006-11-30 04:02:48 · 5 answers · asked by Making Them Listen 3 in United States

2006-11-30 03:41:56 · 11 answers · asked by Vicstix 1 in United Kingdom

2006-11-30 03:35:00 · 3 answers · asked by joyson d 1 in United States

One can enjoy the status of NRI being in India but stay in India doesn't exceed 182 days. Based on the earlier answers received also understand that one should meet all his expenses in India out of the salary being credited to his NRE a/c. I would like to know for how many years such facilities are available to avoid tax on overseas salary.

2006-11-30 03:27:43 · 1 answers · asked by Chandrasekaran G 1 in India

I recently got divorced in Aug. 2006 (on California) and I agreed to him having the house, I signed off on the house deed to take my name off, he promised verbally to refinance (not in the divorce papers) and has not, he is making all the mortage payments (hopefully on time) however we are BOTH on the loan and BOTH responsible for the payment-do I have the right to claim half of the interest on my income taxes?

2006-11-30 03:10:00 · 4 answers · asked by megs83179 1 in United States

2006-11-30 02:50:33 · 3 answers · asked by Chris 1 in Canada

2006-11-30 02:48:08 · 2 answers · asked by missy 22 1 in United States

I'm 40 and plan to pay my 2 kids (approx $1200/year) for helping in the family business. My financial advisor suggested putting their money into a RothIRA. Advantage: RothIRA's can be used for college or saved for retirement if they don't attend college. But the salesperson thinks that's nuts, if the kids do attend college the 529s are much better. Well, I do expect they will attend college; which alternative is better?

Now, if I choose the RothIRA, I would open the accounts in their names. But 529's don't seem to work that way; parents or grandparents open 529s in their own names for the kids' benefit, right? So how does that count as paying the children (in terms of taxes)?

2006-11-30 02:29:07 · 6 answers · asked by kickstand 1 in United States

I read somewhere that you can withdraw yearly equal amounts from the Roth without tax. Is that true and is that what they do so you can retire early?

2006-11-30 01:31:16 · 4 answers · asked by Chris P 2 in United States

need to know how much in taxes and any other monies out out of 17.5 million we receive 7 million after attorney what part of taxes are we liable for

2006-11-30 00:53:02 · 5 answers · asked by jdhtsh 1 in United States

i decided to leave my job september 05 and try setting up my own business. Within that year i made 33 k but did not pay any tax out of this i paid for all new computer etc and needed a care to travel so had to keep the car maintained and also travelled long distances so really i did not solely profit 33k. It did not work out and i went back to my old job sep 06. The inland revenue have asked me to complete a self assessment form. What will happen now and how much will i have to pay them.

2006-11-29 23:00:48 · 10 answers · asked by Anonymous in United Kingdom

2006-11-29 22:33:20 · 1 answers · asked by Anonymous in India

muthukadahalli, jala hobli.

2006-11-29 18:28:41 · 1 answers · asked by manoj kumar a 1 in Other - Taxes

what is a us size 5 in the uk considered? Also, is there a good website I can go to find the different conversions for us to uk?

2006-11-29 18:18:25 · 1 answers · asked by bells_12_10_2002 2 in United Kingdom

I am in the US on a H1b visa. My tax status is equal to any American citzens, which means that I pay federal and state taxes. I have spent about 8,000 dollars on hiring an immigration attorney. Is this expense tax deductible?

2006-11-29 17:50:42 · 4 answers · asked by dave2huang 1 in United States

2006-11-29 16:32:31 · 2 answers · asked by Jason W 1 in United States

i get paid every other week i figuered out what it is but i need to take taxes out and i dont know how to do that. i live in ny state

2006-11-29 16:26:36 · 10 answers · asked by Anonymous in United States

my x worked very little last year and thinks she can claim kids. our decree doesn't specify about taxes but we have joint custody and they are with me more. there is no child support granted to either one of us

2006-11-29 16:07:21 · 8 answers · asked by kimwri01 1 in United States

Ok, my X is a real jerk! just won't stop his dirty tricks. My son lives w/ me. I claim my son on my taxes. It is written in black & white in the divorce decree that I claim him. Past 2 yrs. X tried claiming son, so that held up my tax return. In 2005 my son lived w/ his dad for 7 months. He claims he gets to claim him (a call from him 2nite). I already claimed him & got my returns. Now the IRS sent me a letter & wants more info. Just cuz my son lived w/ him for 7 months, does this mean he gets to claim him? When I filed, H & R Block said no!

2006-11-29 14:04:52 · 11 answers · asked by pinky 1 in United States

my understanding is that if a rental property becomes a primary residence, there are capital gains on the conversion. in my situation, i only own 1 property, but do not live in it (different town)-- i am a renter myself. would i have to pay cap gains in this instance considering i do not own my current residence.

2006-11-29 13:47:09 · 4 answers · asked by 6speed 2 in Canada

My fiance and I are getting married on December 8 and I didn't work for 2005 and don't work didn't work this year so how should he file this year? Is it joint? I received public assistance this year and my kids dad is not supporting them ( he owes alot in child support) and never have claimed them. Even if my fiance didn't live with us the year, I know they give us the whole year because we'll be married before December 30 but can he claim my kids when we file joint only with his income?

2006-11-29 13:45:24 · 4 answers · asked by Meche 5 in United States

2006-11-29 13:31:10 · 5 answers · asked by kimwri01 1 in United States