Taxes - November 2006

Dear Sir,
I have just sold some immovable property and would like to learn about my options to save on tax. I have heard that it is possible to invest in some bonds to save on capital gains. What are the available bonds under this scheme and how do I choose among them?
Thank you.

2006-11-08 01:36:44 · 7 answers · asked by Chandra 1 in India

2006-11-08 01:35:12 · 2 answers · asked by TK 1 in India

2006-11-08 00:28:05 · 2 answers · asked by misseliggett 1 in Other - Taxes

I work on software projects on contract basis , suppose i earn 6 -8 lakhs a year how much tax do i have to pay ? Supposing I have 1 lakh in investment.

2006-11-07 23:40:53 · 4 answers · asked by ngcoders 1 in India

2006-11-07 23:25:53 · 1 answers · asked by v_ramadurai 1 in Other - Taxes

Does Alternative Minimum Tax change from one individual to other or is it a rate applicable all? How is AMT determined?
Would municipal bond funds decalre exempt interest or reallocate income dividend to exempt intest?
What is foreign tax paid in the Form 1099-INT?

2006-11-07 22:26:57 · 2 answers · asked by JustQA 1 in United States

2006-11-07 22:19:21 · 11 answers · asked by Shekhar 1 in India

i have never worked or filed a tax return and was wondering if i put $20,000 into a savings account would i have to file taxes?

2006-11-07 20:33:34 · 5 answers · asked by Anonymous in United States

2006-11-07 20:29:59 · 4 answers · asked by kashif ali z 1 in Other - Taxes

I am a software developer. Kindly suggest me some investment options wherein this amount is exempted from taxable income. Also, after investment the income arising out of the same is also relieved from tax (it is **not mandatory** requirement).

I have already invested in PPF and NSC and have taken LIC policies of long terms. I am looking for making investment wherein the amount is not locked for a longer duration and also at the maturity the tax burden should be minmum. I am not interested in making investment to equity market so please dont suggest me MFs which purely invest in equity market. Mutual fund investing in other than equity market yielding moderate rate of returns (somewhere around 10%-12%) would do.

If you have any other suggestion, kindly share it with me so that it helps me in making decisions.

2006-11-07 19:00:22 · 7 answers · asked by girishjjain 2 in India

Does anyone know, besides being certified and hiring experienced tax preparers? Please answer if you have any experience in this field. Thanks.

2006-11-07 18:45:17 · 4 answers · asked by You are loved 5 in United States

I received a large sum of money ($12,000) from my motor vehicle insurance company. Do I have to pay any taxes? If I do, then how much? When do I pay? How do I pay?

i will be rewarding 10 pts. for the best answer!!!

2006-11-07 13:23:15 · 11 answers · asked by Anonymous in United States

If I receive a large sum of money from the insurance company, do I have to pay any tax. If I do, how much do I pay? How do I pay it? When do I have to pay it?

I will give 10 pts for the best answer!

2006-11-07 12:38:48 · 9 answers · asked by Anonymous in United States

I've contributed some money to FSA.Was aiming at 1000 some $s by end of yr.Now, I'm planning to quit the job in a couple of wks.I've not made any health care expenses at all so far.Planning to buy some OTC stuff to use that money.Before when should I make the expenses-end of 2 wks?,before when should I claim reimbursement-that also before end of 2 wks or is there more time for this? Can I continue to make contributions and later reimburse all the money?

2006-11-07 11:52:28 · 2 answers · asked by Pearl J 2 in United States

2006-11-07 09:43:27 · 1 answers · asked by chalie brown 747 1 in Australia

2006-11-07 09:03:41 · 3 answers · asked by Anonymous in United States

2006-11-07 08:46:49 · 4 answers · asked by Islander 1 in United States

2006-11-07 08:27:26 · 4 answers · asked by Jami M 1 in United States

I want Sting to do my taxes. How much would that cost? Is he any good at it?

2006-11-07 08:02:20 · 6 answers · asked by Anonymous in United States

How can we help a friend pay his back taxes, before he gets married and brings his spouse down with him. He acts like it is not a big deal, but he hasn't paid his freaking taxes!! I don't even know where to tell him to start! Can anyone help.

2006-11-07 08:01:59 · 10 answers · asked by Sassy 1 in United States

If I have 1,000 shares of non-qualified stock options with exercise price at $15. When I exercised them the price of the stock was at $35. I did not sell right away and hold on to them for a few months. Unfortunately the stock keeps falling and I finally sold at $25. Is it true that I have to pay tax on gain base on the stock price when I first exercised the options (i.e. $35) and not the actual sales price (i.e. $25)?

2006-11-07 07:40:48 · 3 answers · asked by Sea_turtle 2 in United States

Where can I see what Medicare has paid on a medical bill?

2006-11-07 07:38:59 · 1 answers · asked by Donald B 1 in United Kingdom

I have never itemized, as my standard deduction has always more than covered things like my 401k contribution. We bought a house this year, and I would love to be able to itemize! Bad news is I also got downsized (week before we closed, no less!) so I'm guessing the 6 months of 401k contributions + interest on the home will still not be greater than my standard deduction.

Here's my question: if I roll my 401k into a regular IRA, can I deduct the $4k max contribution to the IRA rather than deduct the contributions I made the 1st 6 months of this year to the 401k?

2006-11-07 07:36:50 · 5 answers · asked by Anonymous in United States

If this is true why isn't it a bigger political issue? I own a self storage business and property taxes are our largest expense. If a foreigner could avoid these taxes they would have an extremely unfair advantage.

2006-11-07 06:15:55 · 10 answers · asked by Danny C 1 in United States

2006-11-07 05:54:07 · 5 answers · asked by Anonymous in United States

This money will be given back to my mom after some time. I will not be using this money in anyway shape or form.

2006-11-07 05:24:37 · 5 answers · asked by dr. answer 1 in Other - Taxes

By taxes I mean - on groceries, clothing, building supplies - shoes, etc.

2006-11-07 05:02:21 · 3 answers · asked by Angela N 1 in United States

2006-11-07 04:46:32 · 8 answers · asked by justlifefornow 1 in United States

Just trying to figure out if I need to report this income or is it exempt.

2006-11-07 04:22:27 · 9 answers · asked by C C 1 in United States

Can a tax collector legally kidnap one's child, or have that child remove from their, home in order to deny a claim for earned income credit. In a malicious attempt to settle a vendata against that individual. Then claim that the child does not live with the indevidual. When they were the ones who kidnapped him in the first place? Are tax collectors above the Law?

2006-11-07 04:20:31 · 5 answers · asked by mre919 1 in United States