Taxes - December 2006

I've asked a question about whether I could be classed as self-employed or not. I am from Germany and I've been working as a freelance translator in London area for the past 3 years (translating from German to English). I have no National Insurance in this country (cos I never needed to apply for one), and I do not do bookkeeping. I just have several permanent clients, and whenever any one of them come to London, they contact me, and I translate for them. I do not operate from an office or home, and I just meet my clients where they want me to come. Some times I don't get any calls for 2,3, 4 days in a row, and sometimes I get to translate 5 days a week (it all depends on luck!). I usually earn about £800 a month, and I ALWAYS get paid in cash.
Now someone said "failing to have evidence of your turnover can be just as bad as pretending it doesn't exist. What if the taxman says Aha! but you might have been making £8000 a month! Eh? Eh?? Keep Good Records." But HOW do I keep records?

2006-12-29 08:20:16 · 8 answers · asked by Gemma 1 in United Kingdom

i live in Oklahoma.and i am curious.

2006-12-29 08:13:02 · 4 answers · asked by Thumbs down me now 6 in United States

As a sole proprietor, I am receiving commission checks the last week of december 2006 and some I will receive the first week of January 2007 (but they were written and mailed the last week of December).
If I deposit all of them in January 2007, even though they were written and sent in 2006, does this income go on my 2006 or 2007 tax return?

2006-12-29 08:10:44 · 5 answers · asked by AVS 2 in United States

It is not business related,a kind of gift before before instad of after dying.

2006-12-29 08:03:36 · 8 answers · asked by luther 1 in United States

I don't really understand the state pension, it says it is based on ni contributions so does that mean you get more or less depending on how much you earned? And if you were on benefits all your life does that mean you don't get pension?
I am asking this hypothetically I am a long way from receiving pension yet:)

2006-12-29 07:54:34 · 4 answers · asked by cigaro19 5 in United Kingdom

2006-12-29 07:21:30 · 2 answers · asked by cds 1 in United States

And if your local mayor said he checked into it and said there's no requirement in the tax code--it's a voluntary tax.

And your whole town wasn't going to file.

Would you join in a group effort?

It's too scary of course to do it on your own, but there's strength in numbers. How would we get a group of people together that could get attention and make an impact?

Will any CONGRESSMEN reply and SHOW US THE LAW in the IRS Tax Code that says we are REQUIRED TO PAY?

Will and JUDGE? IRS AGENT?

WILL any SENATOR?

Did you know last year a former IRS agent who believed that the agency was bullying little people with no ability to fight, and decided to stand up for what was right and not pay, and because the judge refused to show the jury the IRS CODE that says IT IS A REQUIRED TAX, not a Voluntary Tax, they ACQUITTED HIM.

http://www.unknownnews.org/030812VerniceKuglin.html is a story from 2003 of Vernice Kuglin, a 58-year-old FedEx pilot who stopped paying the IRS & won.

2006-12-29 07:21:07 · 14 answers · asked by KW 1 in Other - Taxes

Here's my scenario.

I have been working at this company in California since April 2006.

I have grossed $21, 968.29

Taxes are as followed:

FICA: $1680.57
FED WT: $2472.11
CA ST: $576.76
CA DIS: $175.75

I am a single male, claiming 1. I dont have any receipts that I can use as write-offs or anything of that sort.

Could someone please give me a rough extimate on my return? Thank you much!!

I can give more info if it helps.

2006-12-29 07:10:50 · 4 answers · asked by billgutsky 3 in United States

people keep telling mr to do them but i dont want to but then again i dont wanna be missing out on money. the only work i've been doing was temp. plus i think you have tomake a certain amount before you can file anyway right

2006-12-29 07:09:56 · 15 answers · asked by Dutchess 2 in United States

My 10 year old son lives with his father and step-mother. I have paid child support all of the year of 2005. My son's father is on disability and therefore cannot file a tax return. However, my childs step-mom did work PART of the year and now is saying that she is going to use my son as a tax deduction on her returns. I have always used my son and this will really mess things up if I don't get to use him. So who has more of a right to use the deduction. Step-mom or myself? Also, what would happen if we both used him and how long would it take for this to be noticed?

2006-12-29 06:27:02 · 14 answers · asked by Anonymous in United States

If I had $10,000 in income at the end of a year, which would be wiser to do. (1) Purchase more inventory and if so, would I have to pay taxes on that? (2) Pay taxes on the income. (3) Purchase assets?
This is based on a company in Florida which buys and resales merchandise that is shipped mostly out of state.

2006-12-29 05:53:50 · 3 answers · asked by mechellmybell72 1 in United States

I have my w-2 from last year can I use the same federal tax id for my employer or does it change each year? Will the amounts on my last pay stub be the same as my W-2??

2006-12-29 05:05:32 · 5 answers · asked by j g 2 in United States

If I am a private contrator for a company, what percentage of my income should I be setting aside for taxes?

2006-12-29 05:03:32 · 6 answers · asked by Tina 3 in United States

If I'm a freelance translator, and I translate from English to German or vice versa, am I considered to be self-employed and do I have to register and pay tax?

I do not have an office, nor do I do any bookkeeping. I get paid in cash (for instance, I charge £20 per hour, and if I translated for 2 hours, I'll get £40 on that particular day).
I advertise my services in newspapers and sometimes I go on for 2 days without anyone calling me, and sometimes I translate for 3 days in a row. I earn about £800 a month. I'm just not quite sure if I should register as self-employed here in Britain?

2006-12-29 04:56:58 · 24 answers · asked by Gemma 1 in United Kingdom

some people have told me I don't have to claim it at all, but I think I am supposed to. Is it "other income" or "unearned income" or what? I do not receive any year end tax documents for it (like a 1099). Thanks for any advice.

2006-12-29 04:53:18 · 5 answers · asked by TigerLilly 4 in United States

2006-12-29 04:53:04 · 2 answers · asked by Anonymous in Other - Taxes

2006-12-29 04:46:55 · 11 answers · asked by willywonka 1 in United Kingdom

If my husband needed to live of the interest how much would I need?.

2006-12-29 04:42:39 · 1 answers · asked by Anonymous in Canada

Does it make more sense overall to pay off your mortgage and invest the amount you would spend, or keep a mortgage for the tax benefits?

2006-12-29 04:38:45 · 6 answers · asked by gcason 6 in United States

2006-12-29 04:36:05 · 3 answers · asked by cubsfantl 2 in United States

We had his kids stay with us for the summer this year and their mother payed us no support. We had them for three months and had to pay child care costs of course. I love his children dearly, but the situation put us into a serious financial mess and we are still trying to keep our head above water because we weren't financially equipped to take them on with no support. I know he can't claim them as a dependant - we didn't have them long enough, but is there some releif from paying their childcare if we have the receipts? I'll take any help I can get.

2006-12-29 04:34:16 · 11 answers · asked by krystal_leighton 3 in United States

2006-12-29 04:29:32 · 4 answers · asked by Logan T 1 in United States

2006-12-29 04:19:23 · 5 answers · asked by lilmrsrouser 1 in United States

balance owed. We have 2 kids and she doesn't make nearly as much as I do. How can we maximize our return?

2006-12-29 04:16:43 · 6 answers · asked by miky2tones 2 in United States

My Work Visa expires in April 2007. So i may have to go back to my country. Is there any way i can save on this 401 K money. I can keep it as it is in 2007 and take it out in 2008. In 2008, i won't have any income in the United States and so whether i will save on taxes for 401K?

2006-12-29 04:14:20 · 4 answers · asked by smart_plus_polite 1 in Other - Taxes

If I mail them today, they won't arrive till Tuesday, Jan 2nd... or I could drive to City Hall to drop them off. Do they normally send a receipt indicating the "received date"? or how does anyone know when they were received?

2006-12-29 04:11:23 · 3 answers · asked by Acaba 2 in United States

ok, i am looking for a table with all the amounts a individual can make and how much of eic they will get, for ex: 0-8000 you'll get 500 back.
i cant find a table/chart like this anywhere, does any one know where to find one??

2006-12-29 04:00:21 · 5 answers · asked by Laura333 2 in United States

There is a defunct company that I wish to buy. The company has $400,000 of IRS taxes past due from the year 1998. The taxes are due to non-payment of payroll taxes to the IRS (form 941 filings). The IRS has a lien and judgement on the company which is no longer operating and is in mothballs. If I purchase the company, can I negotiate with the IRS to get the 941 liability dismissed for a nominal amount?

2006-12-29 03:52:16 · 3 answers · asked by MEGW 1 in United States

If I am bequeathed a condo in FLorida, how will the yearly tax obligation be determined...on what it cost when it was originally bought or what it would cost now. This condo would be a second home.

2006-12-29 03:51:18 · 2 answers · asked by Judy L 1 in United States

In 2001 we all received a Tax Relief Fund check. Since then I have not heard or recieved one? What has happened to this program? Is the government still doing this ? If so how do I find out aboutnot receiveg a check?

2006-12-29 03:46:29 · 3 answers · asked by dallas 1 in United States