Taxes - December 2006

Here's the plan:
1) Eliminate the income tax completely.
2) Pass a Constitutional amendment allowing the government to print money for its own use. The amount is limited and must be approved by a 3/4 vote of congress.
3) The government creates the allowed amount of money and spends it.

Results:
1) No one has to pay income taxes. Millions of hours of work are saved.
2) Everyone gets taxed, even criminals, because the printing of money causes a decrease in the value of the dollar, which affects everyone.
3) The ability to give special people tax breaks disappears.

Possible objections:
Yes, but it causes inflation. That's bad.

No, it's not bad, as long as it is controlled. Everyone will know exactly what the inflation effect will be and can act accordingly.

2006-12-15 05:16:56 · 5 answers · asked by robert s 1 in Other - Taxes

I worked in a hospital for 6 months and resigned my job as my husband got job and moved to Oklahoma. Since the hospital spent all the expenses for bringing us here from India, they asked me the refund of the above expenses. The amount they asked me $ 9700.00 and we gave them post dated cheques and is being collected from us on monthly basis. So far we paid $ 5700.00. We did not receive any receipt for the payment. I would like to know if I am eligible for any tax refund on the above amount.

2006-12-15 04:59:02 · 4 answers · asked by sinithomas_01 1 in United States

buisnesses are geared up to reclaim v.a.t. back on items they purchase .As i am just a normal chap who unfortunatly needed a van,and still had to pay the vat, is there anyway I can claim it back.

2006-12-15 04:53:39 · 4 answers · asked by ALLAN B 2 in United Kingdom

past week,i recieved an email about my winning in uk national lottery in africa,now i want to know is that true or false?
please help me.
thank you.

2006-12-15 04:43:15 · 3 answers · asked by Amir Ahmady 1 in United Kingdom

I am an employee is my employer is 50 miles away from home in California. I work from home at least 3 days a week and have to commute 2-3 days a week to work, 50 miles each way.

What tax deductions available to me?
Can I deduct home-office, if so how much?
Can I deduct gas/car/milage, if so how much?

Please note, I am not self-employed but a regular employee.

Thanks for any feedback.

Bingoman

2006-12-15 04:27:16 · 6 answers · asked by insurancelawcase 1 in United States

I wonder whether Reserve Bank of India has ever brought a fifty paise coin with Picture of Rhinoceros on backside of the coin in India?

2006-12-15 04:10:45 · 5 answers · asked by sakuni 1 in India

2006-12-15 04:06:16 · 4 answers · asked by ladyyt62 1 in United States

fill out all kinds of tax forms, where I had to essentially say that I was an independent contractor performing a service for them, etc. All the forms were properly filled out and given to the organization, so presumably they will report my earnings to the Feds. No problem... My question is - will they also report my earnings to the state? (West Virginia) And if so, do I need to fill out a tax return for that state, even though I don't live there? Or should I report the income to the state in which I live?

Also, should I claim my mileage that I drove to get to the conference and back?

2006-12-15 03:48:44 · 4 answers · asked by I hate friggin' crybabies 5 in United States

Does anyone have any ideas on getting your tax bill down when your self-employed?

2006-12-15 03:34:25 · 5 answers · asked by prncfnfrvr 2 in United States

2006-12-15 03:14:20 · 12 answers · asked by Anonymous in Other - Taxes

2006-12-15 03:03:42 · 8 answers · asked by MINDY 2 in Other - Taxes

just got married and need to know what to change. I have 2 kids from 1st marriage. I have been claiming head of household until now. my husband was laid off from his "real job" most of this year, however he also owns his own business. Should i file married separately, married jointly, head of household. help,help,help. i earn under 23000 a year and live in nj. my husband earned about 20000 with his real job and unemployment. i ususally get a return of 7500.

2006-12-15 02:04:41 · 5 answers · asked by Anonymous in United States

I received injury money, enough to pay off my house. All financial advisors and accounts adivsed us to put it in Roth IRAs. We did that. I am now having second thoughts. If I were to take out only the $110,000.00, which I received tax free due to medical malpractice settlement, do I have to pay taxes on that amount upon withdrawl. It was tax free money when I received it.

2006-12-15 01:56:07 · 7 answers · asked by gail1962@sbcglobal.net 1 in United States

i just got married and need to know what to change. I have 2 kids from 1st marriage. I have been claiming head of household until now. my husband was laid off from his "real job" most of this year, however he also owns his own business. Should i file married separately, married jointly, head of household. help,help,help. i earn under 23000 a year and live in nj. my husband earned about 20000 with his real job and unemployment. i ususally get a return of 7500.

2006-12-15 01:43:14 · 2 answers · asked by Anonymous in United States

2006-12-15 01:39:54 · 3 answers · asked by Anonymous in United States

Can anyone help me find a website that will give me a free estimate on my 2006 tax return?

2006-12-15 01:34:36 · 4 answers · asked by Jessi 2 in United States

I am a 26 year old full time college student. I will be filing taxes in January after I receive my W-2's. I would like to get the most back that I can. I was wondering how much you can make to get all your federal taxes back per year and what form I should fill out if there are any higher education deductions or credits. I am single and live in Ohio. I made less then 20,000, but I still live at home at the time being. So I always fill out the 1040EZ forms, but I am wondering if I am missing out on money that I could be getting back??? Any help would be great....

2006-12-15 01:12:30 · 4 answers · asked by lynswil_25 2 in United States

2006-12-15 01:09:58 · 12 answers · asked by Charity 2 in United States

2006-12-14 23:41:10 · 5 answers · asked by michael d 1 in United Kingdom

1. how to buy tax saver mutual fund. Should i register through some online trading portal and buy it or how exactly is it done?
2. How is the amount to be deducted from taxable income calculated while investing in mutual funds. Is it the unit price or the price at which i got it?
The question may be stupid but I am ignorant about mutual funds so please enlighten me. Thanks in advance

2006-12-14 22:45:44 · 6 answers · asked by Anonymous in India

What do you think , if all of us in the Uk to send thousands of e-mails to our local MPs , to tell them stop putting taxes up and up every time, we are struglling to make a living and they are making even more difficult for us.

2006-12-14 19:30:54 · 12 answers · asked by Anonymous in Other - Taxes

First of all please understand that I have no problem paying taxes and yet like anyone I wish to keep as much of my hard earned money as possible. I started a small business earlier this year and recently incorporated it. It has done much better then expected and I want to protect the assets in the best way possible. Any help from knowledgeable professionals will be greatly appreciated!

2006-12-14 18:57:32 · 4 answers · asked by montanamike 2 in United States

Okay, My sister in law is gravely ill and was just admited to the hospital, she has NO INSURANCE and owns a house, her husband wants to deed the house to us with the provision that we give it back to them once all the dust settles and they pay their bills to the hospital (they don't want the hospital to take their house). So, we live in California and currently own 2 homes (principal and rental) and their house is in Idaho which they own free and clear. what do we do? should we go through with it? why or why not?

2006-12-14 16:59:47 · 6 answers · asked by bkebrian 2 in United States

2006-12-14 14:43:58 · 6 answers · asked by arian 1 in India

2006-12-14 13:52:03 · 8 answers · asked by CouldBeHuge 1 in United States

I am about to be relocated with all my family to the US (Cleveland Ohio).
How can I calculate how much of my salary will be left after all the necessary reductions (taxes, insurance…)?

2006-12-14 13:24:49 · 1 answers · asked by A lonS 1 in United States

i have extra tickets for a sporting event that i am unable to use and if i donte to the boys n girls club for instance can i deduct these on my taxes? will i need to itemize to take advantage of the deductions?

2006-12-14 13:12:45 · 5 answers · asked by jonmalone69 1 in United States

She hand writes me checks me with company logo, but taxes are wack. I obviously need to get a w-2 but as far as taxes for this employer go I will probably owe a lot having not filed a w-4 initially. Should I start filing one now even though its the last 2 weeks of the year. New w-4 kicks in in 2007 right, i dont really get this tax stuff?

2006-12-14 13:02:55 · 5 answers · asked by jvanpatt 1 in United States

I purchased a home in February of this year. Around thanksgiving my husband and I noticed that the water from one of our pipes was sitting on top of the ground. When we called the plumber he said that we needed a new line and that it was going to be quite costly. I cant afford it but it has to be done. Is it possible to claim it on my taxes?

2006-12-14 12:18:36 · 4 answers · asked by wannaseeprettypnk 1 in United States

I didn't file tax papers for my 2005 earnings, mainly because I was new in US and I didn't know much. Also, I was misguided by some people. I worked only one and half month (Nov and Dec) and made only $1005. In other words, my income in the year of 2005 is $1005.

But I am gonna file for this year. Is there any way to adjust that back here? Or will I be fined or something? What should I do?

Thanks in advance.

2006-12-14 11:36:42 · 8 answers · asked by Legend 3 in United States