Taxes - December 2006

Why not ask here right? In any case, I found out last year just how much the IRS sucks when you make over 30k yearly, and are single with no dependents. This year I've made even more money so I'm not really looking forward to filing taxes. I've been doing a lot of reading on the subject but have yet to find a good source for tax help for young people in my situation. I've heard opening an LLC would entitle me to some additional tax breaks but I don't know exactly what those are. I've decided to stop wasting money on buying books. I need solid, concise info that doesn't take a tax law degree to understand. Other info:

-I don't have any retirement accounts yet. I DO know I can open some IRA's etc that are tax deferred. I'm working on it

-I don't think I can afford a financial adviser (yet), but is that the best way to go?

-File a DBA? Open an LLC? Which is best?

Any help on this would be greatly appreciated. If you happen to know some good online resources that would really help too

2006-12-08 09:06:22 · 9 answers · asked by B. 1 in United States

2006-12-08 08:54:38 · 6 answers · asked by ohiolland 1 in United States

2006-12-08 08:45:08 · 4 answers · asked by Norman O 1 in United States

Someone else asked this, and just like the intent of his question, only recieved bigoted, uneducated answers.

We do pay tax on things we buy. We should have to pay income tax because it's unconstitutional. Which means noone should pay it. Anyone of any nationality who sells handmade crafts from their vehicle doesn't pay taxes unless they are dumb enough to claim their income. And if we do settle, we do pay property tax. So you tell me, is it really so unfair that we don't pay income tax, when it's as simple as you finding a lawyer to contest the IRS, who in every single suit filed against them in the matter has settled out of court cos they know taking tax from your income is not legal?

And we are called Roma, not Gypsies. The word people so ignorantly refer to us as is a slur on par with the "N" word.

2006-12-08 07:20:20 · 4 answers · asked by mamajjm 1 in Other - Taxes

Which way do you get more money back

2006-12-08 07:18:59 · 6 answers · asked by Anonymous in United States

i owe money on back taxes 20000 to state about 18000 to federal is there any hope or help for me

2006-12-08 07:04:08 · 7 answers · asked by wendell l 1 in United States

2006-12-08 06:31:56 · 5 answers · asked by shonjoi200333 1 in United States

2006-12-08 05:58:44 · 3 answers · asked by Anonymous in United States

I just read the answer that turbo tax 2006 is not compatible with WIN 98. My last years taxes were done on a comp that uses WIN 98. When I do my taxes, info from the previous year is loaded to the current year, such as depreciation and such. If I have to use another computer how will Turbo Tax 2006 import Turbo Tax 2005 return information??? I copied the 2005 return to my WIN xp comp but it will not open because I do not have the 2005 CD anymore. please advise - thanks!

2006-12-08 05:57:28 · 3 answers · asked by jamie41391 2 in United States

We bought a house together 2 months ago, we had our baby 8 days ago. My girlfriend was claiming tax credit on her 12 year old, will the new arrival mean a change to my tax status? Do I claim a 'married' couple allowance even though we are officially single?

2006-12-08 05:11:35 · 5 answers · asked by stretordender 1 in United Kingdom

i have been told a few different things. i had a baby in 2005 but her dad claimed her last year. this year i will be claiming her plus my other two children. all the tax book just tell youthe earned income for up to two children. has anyone ever prepared taxes and know if i would be better off letting her father claim her again this year or should i calim her. thanks

2006-12-08 04:50:41 · 5 answers · asked by hotrodhanna7 2 in United States

2006-12-08 04:42:46 · 1 answers · asked by snikyob 1 in United States

2006-12-08 03:53:33 · 6 answers · asked by shiela j 1 in Other - Taxes

I'm getting ready for next year tax season. I have some investment overseas and i'm expected to disclose the income on my taxes. I just started the investment portfolio and haven't gotten any money from it not even a dime. However i have the ability to log online and just view the portfolio and see how its doing. And to be frank its very new and i'm loosing money. Do i need to still declare this investment on my taxes eventhough i haven't gotten any returns on it yet?

2006-12-08 03:41:15 · 2 answers · asked by progress 2 in United States

How much sales tax would be charged when I buy a product that costs $325 in Texas?

2006-12-08 03:35:16 · 11 answers · asked by Anonymous in United States

2006-12-08 03:32:42 · 6 answers · asked by Badboysx1 1 in Australia

A friend want me to deposit his company's checks into my own bank account. My friend will pay me for the service. I am being told that taxes have already been paid on the money. I am concerned that he is trying to avoid something but I do not know what it could be. My friend lives in England and the money will be coming in Bank and Traveler's Checks. I do not want to be stuck with taxes on this money.

2006-12-08 03:24:28 · 10 answers · asked by jar0228r 1 in United States

2006-12-08 03:21:28 · 4 answers · asked by CW 1 in United States

I'm a single with income in the 30K-74K bracket per IRS 2006 table. However, I sponsored my mom to CA in Aprial and currently supporting her financially. Which status should I file under, single or head of household? Head of household seem to pay more per the IRS table. If I should file as single, can I claim her as dependent since I'm supporting her? Please offer my your advice. Thanks for your time.

2006-12-08 03:10:31 · 3 answers · asked by Tuan N 2 in United States

out of your work checks for social security and less for federal or state?

2006-12-08 03:00:16 · 2 answers · asked by glorymomof3 6 in United States

Someone gave me a gift of money. What amount can you tell me that I can receive without having to pay taxes on it.

2006-12-08 02:43:10 · 6 answers · asked by Dorothy64 1 in United States

She still lives in her native country...but have filed paperwork for her visa to the USA.

2006-12-08 01:11:09 · 3 answers · asked by terry r 1 in United States

We have a "required" Secret Santa every year at my work. I would rather not do it, especially since they keep going up on the amount we "have" to spend. Furthermore, this comes right after they cut out our incentive pay.

So can I keep the receipt for what I've spent and write it off my taxes???

2006-12-08 00:35:12 · 3 answers · asked by redslippers 4 in United States

2006-12-07 23:27:36 · 3 answers · asked by jaxb 2 in United States

I'm 25, 70K and claim 0 on my checks

2006-12-07 23:27:21 · 1 answers · asked by SNK1 2 in Other - Taxes

2006-12-07 22:29:28 · 8 answers · asked by dididdleydihi 3 in United Kingdom

euromillions

2006-12-07 22:14:35 · 3 answers · asked by tayto 3 in United States

I'm wondering if I stay under a certain amount of money, if I can avoid paying taxes. People with less than about $8400 of income are not required to file; of course I'd have to file if I rolled money over, but could I avoid paying taxes on the amount rolled over somehow?

2006-12-07 21:33:21 · 3 answers · asked by Natto 2 in United States

I have owned it for almost 2 years.

2006-12-07 20:49:22 · 3 answers · asked by Anonymous in United Kingdom

Me - North West England £96 per month.

2006-12-07 20:16:06 · 15 answers · asked by Anonymous in United Kingdom