Taxes - January 2007

I have asked a similar question a few times, and I wanted to clarify my situation in the hopes of being able to get the most accurate answer. I was hired to work as a secretary for 40 hours a week at a rate of 8 dollars an hour. My employer told me that I will need to do my own taxes, and she will not deduct them for me. I will not be filling out a W4 form at work. I was told that I would need to pay my taxes quarterly. This is brand new to me, and I am worried. I am trying to figure out how much money I will need to take out of each weekly pay check so that I don't get into a situation of owing more taxes than I can afford to pay. My husband is not working, and we are on a very tight budget. I need to know how much to save each week for taxes, because every penny counts!

2007-01-07 12:46:39 · 10 answers · asked by Anonymous in United States

I went to Express Tax in Millwaukee, WI in January 2006 to file my 2005 tax. I was approved for a RAL loan; however I was not informed at that time that I was due to receive the balance of my federal refund by check. It was not until today when I went to H&R block that I found out that I was due the balance.
When I contact Express tax service that informed me that the check was sent to there office and signed by some one who apparently frauded me out of my refund. Who can I contact to bring legal action against this company I did not even know about it and if I had received the check it would have been deposited into my personal credit union account. I feel that I have been scammed. Do I contact the IRS? Should I contact the bank and let them know I never received a check? When I asked the people at this company they refused to give me the name of the bank.

2007-01-07 12:42:32 · 6 answers · asked by free ceol 2 in United States

2007-01-07 12:34:09 · 2 answers · asked by Jelly F 1 in United States

I am filing Head of Household. Soon-2-B-Ex is filing Married Filing Separately. Can we still file a joint return for State tax purposes (KY) or do we need to file separately?

(Sorry to be a pain TaxCut won't have KY state available until 1-26-07. I am wanting to get taxes done ASAP...I NEED a new refrigerator. =)

2007-01-07 12:31:27 · 1 answers · asked by Anonymous in Other - Taxes

k im a freshman in college and i recieved scholarships and grants which covered my tuition, i recieved some money from the school that was leftover..

this is my first time filing taxes and i dont know what i need to do.
Can anyone tell me what forms i might need and what i have to claim on the tax forms. i live with my mom, and didnt have a job in 2006. do i have to claim all the money including tuition, or only the amount i recieved that was extra, which i mostly used for school related expenses.

Thanks

2007-01-07 12:31:02 · 4 answers · asked by Anonymous in United States

2007-01-07 12:29:22 · 6 answers · asked by Anonymous in Other - Taxes

I have done a lot of research on self employment taxes, and have the following information from ehow.com: Instructions
STEP 1: Figure out your net income from self-employment. Net income is typically your total business receipts minus your total business deductions. STEP 2: Multiply your net income from self-employment by 0.9235 (or 92.35 percent). STEP 3: Multiply the amount of your net earnings that is $76,200 or less by 0.153 Add your two answers together. This is your self-employment tax. STEP 4: Report your self-employment tax on Schedule SE of the 1040. Tips & Warnings
You can deduct half of your self-employment tax in determining your adjusted gross income. Do this in the Adjustments section of the 1040.

My question is WHERE do I deduct the 1/2 of the self employment tax?

I will be working 40 hours a week at 8$ an hour. How can I figure out how much tax to take out of each pay check?

2007-01-07 12:21:50 · 4 answers · asked by Anonymous in United States

I am starting a job tomorrow where I will be considered "self employed". I will be working as a full-time secretary at a Real Estate agency and will be responsible for handling my own taxes. Apparently this is a common situation at jobs here in TN. I have been doing a lot of research on self employment taxes, and it doesn't seem to be as bad as I thought it might be. (I was warned that I would be paying more in taxes than if an employer took out the taxes.) I am curious if anyone has any straightforward and EASY tips on how to I could figure out that taxes I will need to hold back from each pay check so that I don't run into trouble with owning too much when I pay my taxes quarterly. I will be claming married with 2, because my husband is not working, and I am the sole provider in my household.

2007-01-07 12:16:53 · 4 answers · asked by Anonymous in United States

I live in north carolina and 2006, I was out of work for a while? I was wondering if I would get a full beneifit claim allowence if I only made a certain amount?

2007-01-07 12:12:42 · 4 answers · asked by batman 2 in United States

I am a stay at home mom. Will we get more back for our tax refund because my husband now has 3 dependents with one income?
Also, I am curious about the H & R Block instant loan. Do they do it if you have your W2 to go off of instead of a pay check stub?

2007-01-07 12:10:49 · 8 answers · asked by brocsangel 2 in United States

2007-01-07 11:50:24 · 3 answers · asked by Anonymous in United States

I got my pay stub & I have an extra $80 in my check. It's for Cafeteria. Does anyone know what this means? I haven't signed up for anything at work. Also why would it say deductions but it added money in my check??

2007-01-07 11:27:28 · 3 answers · asked by beachbum26 2 in United States

I was told the first name on a joint bank account in the US is the one held accountable by the IRS for taxes and the one who should declare interest income. Second and third account holders are not liable. Is this true?

2007-01-07 11:20:41 · 3 answers · asked by David M 3 in United States

After looking over my taxes, I have another question - If I do allow my soon-to-be-ex to claim my daughter from previous marriage as his dependent, but he does not qualify for the EIC. Can't I claim her just for the sole purpose of EIC since I do provide all of her expenses??? (I don't qualify for the Child Tax Credit due to no tax liability based on my income, but the soon-to-be-ex gets the Child Tax Credit, claiming her, but he does not qualify for the EIC.) I already claim my college student son for the EIC, but if I also claimed my daughter I would get a larger EIC credit.

2007-01-07 11:17:32 · 2 answers · asked by Anonymous in United States

I know that they take a % out for the federal government when they cut the check, but could I incur more penalties when I file my tax return for '07. Would it be better to put the money in an IRA when I get it? I am going to be a stay at home mom now and I can't roll it over to another 401k plan.

2007-01-07 11:15:52 · 8 answers · asked by Smart1 3 in United States

These medical payments were made from deductions from my paycheck and reduced my taxable income.

2007-01-07 11:14:44 · 6 answers · asked by Mommy 3 in United States

I did not work in 2006, but I have worked in prior years, so do I still have to file a return?

2007-01-07 10:55:24 · 5 answers · asked by elfuegoheat 1 in United States

I have lived in Texas for 2006 except for a 3 month visit to family in Hershey Pennsylvania. While I was there I was offered a job and took it. I have always filed my taxes on www.intuit.com (which uses turbo tax). I started working on my tax return and I am just stumped. Pennsylvania had state and local taxes. I also worked for the state so they deducted a percentage for retirement. While going through turbo tax it asked if I lived out of state? So I selected yes and it asked when I became a resident of Texas. I have lived here for 10 years =( The next question was if I worked out of state. Do I need to file 2 returns? One with my Texas job and the other for when I worked in PA? I'm thinking I should go to HR Block to avoid mistakes but they are such a rip off....Any Advice?

2007-01-07 10:46:00 · 5 answers · asked by Lee 2 in United States

I have a $4,000 bill for plumbing repair on my primary residence. This was not covered by insurance, but the repair was necessary to make the home habitable. THANKS!!

2007-01-07 10:42:49 · 8 answers · asked by Sammy Da Bull 3 in United States

I used my personal savings to open a new location for my s-corporation. Can I deduct the money I spent on my personal tax return?

2007-01-07 10:39:37 · 3 answers · asked by jtesta46 1 in United States

2007-01-07 10:32:51 · 3 answers · asked by rectax 1 in United States

What all would i have to do if i wanted to files for taxes? i was curious because i have a job , and i pay taxes . Since im 18 and work i was just wanting to know how much the limit was to where you could file them? If anyone could tell me more or as much information as they could i would really appreciate it . I wanted to file my taxes and get some money back! =) THanks

2007-01-07 10:15:32 · 5 answers · asked by Krzy_ Danxin_ Latina_07 1 in United States

I know last year I ended up getting messed over when I let my mom claim me on her OHIO income taxes because I made over $5000. I still live with her and she pays my car insurance and everything but I dont wanna loose out on what could be hundreds of dollars.

2007-01-07 10:13:43 · 3 answers · asked by Anonymous in United States

I have done this in previous years.However, last year when my daughter started college,I ran into some problems because my W-2's didnt match what I claimed I made on the Fafsa.Do you use the year to date income or the fit taxable income?

2007-01-07 09:54:01 · 6 answers · asked by adimeandchange 1 in United States

My husband & I separated in March of 2006; he is filing “married filing separately.” He’s asked that I allow him to claim my daughter from a previous marriage as a dependent on his taxes being he has claimed her the past 8 years and is one of his exemptions. (For withholding purposes.)


I am filing “head of household.” I have a son from a previous marriage who is a full-time college student and I claim him as my dependent. (I have prepared my taxes through TaxCut and going through the steps, since he is under 24 and a full time student he would qualify as my dependent under filing “head of household”. My total income for 2006 is $6515.00.)


(What I am asking is, there is nothing wrong with allowing my soon to be ex to claim my daughter from a previous marriage, so he does not get screwed over on his taxes, since he has been claiming her as an exemption. It doesn't affect my refund much by not claiming her myself, but will make a difference of him owing or getting a refund.

2007-01-07 09:13:03 · 2 answers · asked by Anonymous in United States

2007-01-07 09:12:26 · 2 answers · asked by Strawberri S 1 in United States

2007-01-07 09:06:12 · 7 answers · asked by Strawberri S 1 in United States

What small business expenses I occureed last year can I deduct?
For example, meals with clients, marketting, office supplies, etc. what other categories would you suggest? I need to deduct a lot

2007-01-07 08:58:10 · 5 answers · asked by blindevolution 2 in United States

2007-01-07 08:40:40 · 4 answers · asked by hendu2875 1 in United States

Just want to make sure that I do not need to claim the dividends from my IRA - since they go right back into the IRA they will be taxed when I withdraw my IRA - correct?!?!?!

2007-01-07 08:05:27 · 2 answers · asked by rzeta94 2 in United States