Taxes - November 2006

My LLC is looking at cutting our tax liability. What is the correct way to buy cars for the partners of the LLC? Dont wanna make the IRS mad !

thanks

2006-11-28 07:46:04 · 3 answers · asked by lwagner1998 2 in United States

What to do to avoid IHT (Inheritance tax)- my parents want to give me and my brother more than £700.000 in assets and cash.

2006-11-28 07:35:36 · 6 answers · asked by Anonymous in United Kingdom

I can't remember, when do the W2's start coming so we can do our taxes for the 2007 year?

2006-11-28 07:30:26 · 9 answers · asked by Go Vikings 4 in United States

My interest paid this year is $7600 is that a complete write off towards my income tax owed?

2006-11-28 07:13:17 · 8 answers · asked by johnwhetzell 2 in United States

I owed about $400 last year and I never filed or paid. What is the penalty when I get everything straighted out this year?

2006-11-28 07:10:55 · 8 answers · asked by johnwhetzell 2 in United States

2006-11-28 06:25:32 · 5 answers · asked by Louise H 1 in United States

2006-11-28 05:33:43 · 2 answers · asked by Anonymous in United States

My husband is making $15 an hour, and his combined taxes taken out amount to about 21% of his gross. His employer offered him a raise to $20, but my husband declined. He believes that the raise would cause his tax bracket to raise so much that he would ultimately be netting less an hour than he is at his current wage. I know that this is a widely believed myth, but I am at a loss as to how to explain it to him with my limited knowledge of taxes. Please help me explain to him that yes, his tax rate may go up a percentage point or two, but he will still see more money on his paycheck if he accepts the raise. Thank you for your help, everyone!!

2006-11-28 05:12:33 · 7 answers · asked by Dana 1 in United States

I'm taking a course for personal enrichment and I am just confuzed on why there are two different types of deductions you can claim for education, and two different types of credits for education. I would like to know the differences between Tuition and fees deduction, Student loan intrest deduction; The hope credit, and the lifetime learners credit.

2006-11-28 04:43:12 · 3 answers · asked by Anonymous in United States

2006-11-28 04:16:42 · 5 answers · asked by eyegub 3 in United States

My boyfriend and I have a son, and last year his dad did our taxes seperate...he let my boyfriend claim our son and I was left by myself...because he said we got more back that way! I always thought you get more back if we were all together as a family and did my boyfriend did head of household.

2006-11-28 04:05:52 · 6 answers · asked by janedoe! 1 in United States

2006-11-28 03:42:20 · 11 answers · asked by Anonymous in United Kingdom

2006-11-28 02:40:17 · 1 answers · asked by AKHIL 1 in Other - Taxes

i.e. why do you get taxed when buying a house?

2006-11-28 01:23:40 · 9 answers · asked by Anonymous in United Kingdom

2006-11-28 01:05:56 · 1 answers · asked by ar233 1 in United Kingdom

If you live and work in one State but declare another State as your State of residence. Do you have to pay taxes in both states?

2006-11-28 00:28:24 · 4 answers · asked by ? 3 in United States

Im about to be sort of self employed. Looks like im going to gross about 10k per month with about 2k in business expences. What % should I keep out each month to cover My Tax's, FICA, Medicare, and self employment tax's to be covered?

2006-11-27 23:57:32 · 2 answers · asked by bukrub66 2 in United States

We've received a payment from a customer of us from Gemany. Let's say 10000.
They have a VAT number (in Germany). So they did not pay us any VAT.
Also there were no goods that crossed the boders. We are making some 3D models for them.

The question...
Do I have to show this sum in the box 8 of the VAT return?
I think, NO. Am I right?

2006-11-27 23:32:18 · 2 answers · asked by Ascensio 1 in United Kingdom

2006-11-27 21:50:07 · 4 answers · asked by sweetiepie 1 in United States

I signed a contract to say I'be self employed, I even saved all my tax and paid all my NI. However, when I went to an accountant he poiinted out that it looked strangely that I was employed, or should be employed for tax purposes. I took an ESI test, and that said I'm employed. I have since written to the Inland Revenue requesting they tell me whether I am employed or self employed. HOWEVER. my accountant reckons I might be unlucky and get fined as he already submitted my tax self assessment tax return. HE is the one who did the cosmetics to gloss over the fact that I didnt have an self employed expenses, and my book keeper has my original accounts to prove it, so why should I be fined? Also, at the time I thought I was self employed and took action accordingly, ie saving tax. Accordingly, when there was doubt, I sought advice from the IR. Does anyone know what is the likely outcome here given I am blatantly employed legally speaking.

2006-11-27 21:37:10 · 3 answers · asked by Anonymous in United Kingdom

2006-11-27 18:47:11 · 2 answers · asked by ruba j 2 in Other - Taxes

2006-11-27 18:46:22 · 1 answers · asked by sohail k 1 in India

2006-11-27 18:11:52 · 3 answers · asked by Anonymous in United States

2006-11-27 16:02:17 · 2 answers · asked by rascoe627 1 in United States

math help on sale tax u purchase an item. the sale tax rate is $.06 per doller and the cost of the item not including sale tax is $6.35. LET P Represent the price of the item not including sale tax. solve the follw ing equation to find the price of the item


p + 0.06p=6.35 plz show your work plz

2006-11-27 15:56:13 · 4 answers · asked by dumb math nerds 1 in Australia

I have a friend that is somewhat unreliable. He says that theres a house in my neighborhood that was foreclosed on due to unpaid taxes. The amount is only 600.00. He said we could buy it for the 600.00 but couldnt do anything with it for 3 years. Every year paying property taxes on it of about 300 a year. I told him homes like that usually go up on auction. He says it went on auction and no body purchased it. So its being sold as is for this amount. The land alone is worth 20k. I have a hard time beliving him. Could he be telling the truth? How does tax sales work? Is this plausible?

2006-11-27 13:26:47 · 2 answers · asked by hopes2graduate 1 in United States

2006-11-27 13:06:16 · 5 answers · asked by smokeyboy4u2c 1 in United States

I haven't filed taxes since 2002. In 2002 my federal return comes out they owe me roughly $1700.00. In turn for the rest of the years up til now I don't have returns for every year due to out of work wiyhout unemployment, so a couple years 2004-2005 I had 0 income but for 2002 and 2003 they owe me money. Are there any repercussions for not filing.

2006-11-27 13:01:04 · 6 answers · asked by smokeyboy4u2c 1 in United States

I am married, my wife stays home (and has all of 2006) with our only child....I think that is the prime example of H.O.H....but I am not sure. How will I benefit and how should I be filling out my W-4?Is there any way that I can find out now approx what kind of refund/pay-in I will be facing once I file my 06 taxes?

2006-11-27 11:35:57 · 9 answers · asked by Anonymous in United States

I am only 12 years old and need this answer for my extra credit , because i am failing Computer class. Please give me a definite answer, thank you. I have tried to find the answer thousands of times, but luck hasn't helped me. I"M DESPERATE

2006-11-27 11:28:05 · 1 answers · asked by Joseph B 1 in United States