Taxes - November 2006

I started a small business with $200K as a partnership, changed to a C corporation with a different person, and received $110K as a buyout when I got out of that corporation. So in long term, I lost about $90,000 and I want to find a way to file this loss if it is deductible. Tax year is 2005 and I could not file this in time since I did not have enough information about how to file as of now.
Clarification: I was the original owner who owned 50 percent or more of that corporation, and when I gave the corporation control to the other partner, no change in the business site has been made.

2006-11-03 08:46:32 · 3 answers · asked by wonhachoi78 1 in United States

2006-11-03 08:40:09 · 10 answers · asked by Anonymous in United States

I read a help file online which says that you may claim the 500 maternity grant if you recieve child tax credit at a rate higher than the family element. I recieve a family element and a child element, does that count? Or is there a special child tax credit rate higher than the family rate that I don't know about?

2006-11-03 08:39:52 · 5 answers · asked by cigaro19 5 in United Kingdom

2006-11-03 08:08:36 · 9 answers · asked by Anonymous in United States

Tax time is approaching.

2006-11-03 08:06:54 · 18 answers · asked by Anonymous in United States

2006-11-03 08:06:45 · 5 answers · asked by Susan M 1 in United States

If one is British and live abroad, one can connive not to pay UK income tax. However, Americans must pay tax wherever they may live or risk not being let back into the homeland.

2006-11-03 08:02:36 · 9 answers · asked by antony r 1 in United Kingdom

I filed State and Federal and couldnt aford to pay them I kept meaning to but something always came up I have a family and the only reason I had to pay so much in isnt because I make a lot of money because I really dont make much at all I just did ALOT of over time I mean ALOT everyday and was doing that just to keep our heads above water. What is going to happen when I file this year? What will they do for about $800.00 of unpaid taxes over the course of a year?

2006-11-03 07:23:38 · 7 answers · asked by Anonymous in United States

Hi...

For helping a friend with getting him a lead on an investor for a major project, this friend wants to repay me in kind with a sort of "finder's fee". Basically, he's giving me money for finding the investor. Say he wires x amount of dollars into my checking account. Regardless of this fact, is this or any amount under these conditions "taxable as income"?

2006-11-03 07:21:20 · 5 answers · asked by Anonymous in Other - Taxes

I paid H&R Block to do my taxes for 2004, and now the IRS says I owe them $1,144 from 2004.
Anything I should know before I get on the phone and start resolving this problem???
Thank you for your help,
Geoff

2006-11-03 06:42:47 · 11 answers · asked by ? 1 in United States

Costs associated with a Nanny/baby sitter

2006-11-03 06:33:53 · 10 answers · asked by DR 1 in United States

2006-11-03 05:31:20 · 5 answers · asked by KB 1 in India

The stock has appreciated $80 since I bought it. Will I have to include income if I transfer the stock instead of paying cash?

2006-11-03 04:46:12 · 2 answers · asked by thatsyou_rij 1 in United States

2006-11-03 03:45:05 · 4 answers · asked by Anonymous in Other - Taxes

I was told I won and they need a bank # to transfer money. I filled out application for lottery and been speaking to bank in UK

2006-11-03 03:44:05 · 9 answers · asked by kimberly k 1 in United Kingdom

And I want to withdraw from my Roth IRA account. Is there still panelty if I don't make any capital gain?

2006-11-03 00:52:03 · 6 answers · asked by nn 1 in United States

I am a single mom, and claim 2 allowances, will I get ALL of my federal and state tax returns back?

2006-11-03 00:43:05 · 9 answers · asked by atl_diva 2 in United States

Myself and my wife run a small partnership business. We haven't finished doing our records for 2005-06 for our tax return and haven't yet got an accountant - are we leaving it ridiculously late? I hope to have the records done and the accountant contacted in the next few weeks!

Cheers!

2006-11-03 00:24:29 · 6 answers · asked by LJ2006 2 in United Kingdom

what is maharashtra vat tax for narrow woven fabrics

2006-11-03 00:17:06 · 2 answers · asked by Anil B 1 in India

How can I find VAT number of company that is registred in Netherlands??

2006-11-02 21:16:49 · 2 answers · asked by hawaiee 3 in Other - Taxes

2006-11-02 18:39:48 · 2 answers · asked by supermonkey081 2 in United States

I joined ICFAI Universities MCA course and paid nearly 50 thousand rupees. Will this be eligible for Income tax deduction? Thanks.

2006-11-02 18:18:11 · 3 answers · asked by Muralidhar M 1 in India

Child care expense are usually tax-deductible as long as a registered provider caring for the baby. But in my case, my wife's friend is caring for our baby. We pay her $500 a month. Since, she is not a "registered" business, is my spending still tax-deductible?

2006-11-02 17:23:55 · 5 answers · asked by Ricky Mo 1 in United States

i've seen the laws about property taxes and corporate profits taxes, but i can't seem to find a law that requires people to pay a tax on labor and wages.

2006-11-02 16:20:53 · 12 answers · asked by Shawn B 3 in United States

Any info will help. Thanks.

2006-11-02 14:06:52 · 3 answers · asked by Anonymous in United States

is there a website that I can go to that lists the percentages of employee taxes withheld from each paycheck? it would be for washington state.

2006-11-02 14:02:38 · 4 answers · asked by ferrari_83000 2 in United States

I lost my w-2 from last year - how do I get another one? I already went to the IRS site. Is there an easy way to get it?

2006-11-02 13:42:09 · 6 answers · asked by thatguy2007 2 in United States

2006-11-02 12:37:30 · 5 answers · asked by John B 1 in United States

2006-11-02 12:29:50 · 2 answers · asked by shawntaelsey123 1 in Other - Taxes

2006-11-02 11:39:51 · 3 answers · asked by Michael M 1 in United States