Taxes - November 2006

2006-11-27 11:01:41 · 4 answers · asked by Julia M 1 in United States

This accountant was working for a corporation and was responsible of all the financial affairs, including tax payment and any other debits from the revenue of the company. The government is now coming after the dissolved corporation members for the taxes due. Is this accountant liable for these errors that he made?

2006-11-27 10:35:45 · 5 answers · asked by drummermankent 3 in Other - Taxes

2006-11-27 10:03:35 · 4 answers · asked by leasegirl25 1 in United States

I have a small business--partnership. I bought a truck for 1k in March. I sold the truck for a gain. How should I treat this gain in the tax books and in the financial statements? Of course I was going to take a Sec 179 deduction but I sold the asset and not sure how to handle the small amount of gain. Thanks for any help.

2006-11-27 08:54:12 · 4 answers · asked by Anonymous in United States

2006-11-27 07:58:39 · 2 answers · asked by wallace2004@sbcglobal.net 1 in United States

One of my friends has a Tiger Bond and she recieved a letter telling her that she will have to cash out the bond this year or the money's will be given to the government. Is this legal? I'm an accounting student so I don't know to much about bonds other than accounting for them, but this seems really odd and perhaps illegal.

2006-11-27 07:00:14 · 1 answers · asked by horrorfan 3 in United States

I'm an accounting student and I was thinking about this the other day and our text does not cover this. Do you have to report insurance money as taxable? That is if you are in an auto accident and your insurance company sends you a check do you have to report that in income or some other area, or is it exempt? My other question is if you take the insurance money's recieved and loan it to someone and they cannot pay you back can you still claim for a nonbuisness bad debt deduction and deduct the 3,000 a year until it is absorbed?

2006-11-27 06:57:46 · 4 answers · asked by horrorfan 3 in United States

is there a federal excise tax return on 2006 taxes

2006-11-27 06:48:47 · 1 answers · asked by LaVerne C 1 in United States

I was told that an international student with a valid student visa can obtain a TIN in the U.S. for tax purposes such as interest bearing accounts. Is that true? Please advise, thank you for your responses.

2006-11-27 06:44:53 · 4 answers · asked by Tuan N 2 in United States

2006-11-27 06:38:04 · 3 answers · asked by ... 4 in United States

2006-11-27 06:21:48 · 9 answers · asked by jessica2295 1 in United States

i.e. no children quick form I make such and such paid in X amount???

2006-11-27 05:39:02 · 6 answers · asked by AJC 1 in United States

2006-11-27 05:23:45 · 7 answers · asked by sethkevin 1 in United States

I just got it like 5 mins ago and was talking to a friend and she said to me that I would have to do taxes.
I don't know how and my dad does that stuff. I dont trust him to handle my money or even know how much I have in the bank.

How does one go about doing taxes!? I also file for the fafsa soon, how do I go about doing both....life just got more complicated,but its okay because Im getting old and I have to have a bank account some time in my life.

They are due on april 15th right?
I got my first paycheck a week ago and am confused. Im going to deposit it in a little while.

when I signed stuff there was talk about perjury and the like,
I am an honest person, everything was true.

so um...yeah, explain please.

thanks!!
=D

life just got more complicated,but its okay because Im getting old and I have to have a bank account some time in my life, even if it is alittle scary....

2006-11-27 05:15:03 · 9 answers · asked by Anonymous in United States

I have recently started a second job at Domino's Pizza for a bit of extra cash. I asked about filling in a P46, and was told by the manager that I wouldn't need to do one because the tax is the same with or without one, and that if i did fill one in then it would make dominos my main job with the lower tax code, and put the higher tax code on my full-time monday-friday job. Is this correct??

2006-11-27 05:14:50 · 4 answers · asked by Anonymous in United Kingdom

2006-11-27 04:22:33 · 6 answers · asked by Mike S 1 in United States

I am a contractor and I traveled and stayed at places about 3 months or so.
I stayed in Dallas for about 10 months in a house
and in New Jersey for 3 months in a hotel.
I have a small business in California.

Does anyone know how to file tax in this situation?

2006-11-27 04:10:35 · 2 answers · asked by THX_4_answering 1 in United States

Do you just include hobby income in GI and deduct allowed expense on your itemized deductions? I guess what I'm asking is there any additional forms to fill out for hobbies?

2006-11-27 04:02:56 · 5 answers · asked by Anonymous in United States

My friend came from Germany for few month to work in England. But as he needed money,he had to start work immediately. He didn't have a NI number so I gave him mine. Now he is using my national insurance number but his name to work. The thing is that his boss paid him last week around £178 taxes,on my insurance but his name. Can he get caught and can I get in trouble for this?Thank you

2006-11-27 03:58:40 · 13 answers · asked by DEZ 2 in United Kingdom

2006-11-27 03:43:03 · 2 answers · asked by hello 1 in United States

I live with my girlfriend and we rent our home. I am not a student. What are the best ways to do my taxes to get the most money back as possible. I need to have enough deductions to get over the standard deduction is what I'm assuming. I do pay about 2000 dollars a year into my health care but I'm wondering also if I can deduct the rent paid at home. Any tax guru's input on how to get a nice return would sure be appriciated. Thanks much.

2006-11-27 03:36:45 · 10 answers · asked by bizzie 2 in United States

I want to know if there are certain behaviors to avoid in the coming years to make sure I do not expose myself to the AMT.

Should I spread any capital gains over time, so they don't accumulate in a single year?

Would a spouse going back to work make us more susceptible to the AMT?

2006-11-27 03:06:26 · 3 answers · asked by cmsb705 5 in United States

We began the operation in 1998 and have not shown a profit due to unforseen circumstances. They are trying to say we are ahobby and not a for profit. We have made money and have been making changes to the operation a little at a time. We raise and compete for championship titles on the dogs so that when we breed them, people want the pups due to their parents records to either compete with themselves or to add to their breeding program. I have spent quite a while developing the right lines to breed. Just like with show or race horses. Our unforseen problems which slowed us down were #1 Had two mortgages for two years due to our other home not selling during that time. #2 approx 6 months before I went independent as an investment rep, 9-11 hit , no one wanted to invest and my income suffered as well as our perfest credit. #3 during that same time frame my husband owned his business and the company he was invoicing was not paying in full for a year. We are fighting this! any suggestions?

2006-11-27 02:43:57 · 7 answers · asked by Bird Dog Lady 1 in United States

Just wondering what the breakdown was? Of say, every pound you pay in tax, 10p goes on Iraq, 25p goes on admin, 40p on the national debt, 2p on Health services, etc.

2006-11-27 02:39:51 · 13 answers · asked by drcswalker 2 in United Kingdom

Data after data shows that when taxes are cut in moderate levels then increased economic activity will stimulate new revenue growth. Now, it takes a little while for the change to take hold but i havent seen data to dispute my claim...Moderate tax CUTS stimulate revenue growth over time!

Im concerned that when Democrats take over Congress in January that they will allow many of the BUSH taxcuts to expire....ARE THEY CRAZY? if they raise the tax rates again this country will go into a recession as companies and the rich make up for the bigger tax bite by shedding jobs... I just dont understand why they like high taxes so much! i can do a WAY better job with my money than THEY can do with it...Why not make more of our goverment programs, that suck INEFFICIENT tax dollars, private! The waist involved in congress, especially democrats, is APALLING!

2006-11-27 02:37:38 · 5 answers · asked by bhicks4556 1 in United States

2006-11-27 02:19:50 · 5 answers · asked by Anonymous in India

2006-11-27 02:08:52 · 11 answers · asked by YoungMcKellar 1 in United Kingdom

2006-11-27 01:49:45 · 2 answers · asked by don j 1 in Canada

I'm a weddding photographer and videographer. How do I file my income tax return. I've not been filing or claiming taxes on my photography work. I make average about $900.00 per month some times $4,000.00 per month but I never file taxes on them. please help and thankyou so much in advance.

2006-11-27 01:41:31 · 4 answers · asked by Anonymous in United States

I just purchased a timeshare property with my sister who is still in college. I'm just wondering if her name is on the deed if she will have to claim that somewhere on taxes this year?

2006-11-27 00:02:46 · 3 answers · asked by jmk_jenmarie 3 in United States