Taxes - January 2007

2007-01-01 21:28:45 · 9 answers · asked by Marxsparx 3 in Other - Taxes

nowadays, despite more and more people prefer to use the tax software to file their tax return, i think the a professional and sophisticated tax accountant is still needed to file those more complcated tax returns. right?

2007-01-01 19:42:34 · 7 answers · asked by di_cassano 4 in Other - Taxes

I just want to rant! My property taxes in Chicago have increased 300% over the past 6 years to almost $10,000 for a small condo. I know that I could make a few $ if I sold..But is this fair? will taxes reverse if the values go down??? Anybody else pissed off out there?

2007-01-01 18:45:15 · 5 answers · asked by corporatetrade 2 in United States

2007-01-01 18:21:40 · 6 answers · asked by Anonymous in India

I went to the federal building and was told I could not file my taxes even seperatly with out having his information and that since we live in comunity property state I would be liable for his taxes as well as my own even thought he earns three times what I earn.

2007-01-01 18:06:50 · 4 answers · asked by stuck 1 in United States

2007-01-01 18:02:07 · 3 answers · asked by Delilah's Mom 1 in Other - Taxes

Some of the money obtained by churches is uses for charitable purposes. Another portion is used for infrastructure. Another portion is used to promote the church and it's religion.

Yet with only some of the money used for charitable causes, shouldn't the tax exemption be pro-rated based on percentage of charitable work performed?

2007-01-01 17:14:54 · 3 answers · asked by Just Chillin' 2 in Other - Taxes

I worked very very little last year and was pregnant, but delivered my son within the year. Im single and considered low income because Im not currently working.

2007-01-01 16:38:55 · 7 answers · asked by prettylittlepowderkeg 3 in United States

just wanted to know if would get any mony for my child if i made less then 7,000 this year

2007-01-01 16:37:59 · 4 answers · asked by Anonymous in United States

My husband is on full disability from social security. We get a monthly check for him and our two children. I worked for a short time and made less than $1,000. On income tax, I know this his amount of disability is not taxable. However, my income was. NOW--the child tax credit would be $2,000. Will we be allowed to claim that full credit, although we did not have that much taxable income?

2007-01-01 16:11:59 · 4 answers · asked by donnabellekc 5 in United States

Do you HAVE to fill out your W-4s, can the gov't tax your time? I was told you can opt to NOT fill out your W-4, keep all your money each week- but you can't file at the end of the year for a refund (as you have paid no taxes in)- is the true or is someone trying a line of B.S.?

2007-01-01 16:07:25 · 7 answers · asked by cherrie_pie_69 2 in United States

I am 17 years old and I worked all of 2006. I worked three jobs and now I want to know can I get my taxes filed. I heard since I am a minor, I legally can not file my own taxes but I could get my parent to do it for me. The Main question I am asking is since my mother still claims me on her taxes, can she file for the work I have done so I can get my money back?

2007-01-01 15:54:54 · 7 answers · asked by Anonymous in United States

I've sold a handful of things around the house over the last year over ebay and am looking for actual evidence on the web that says we have to report it, if we are not a business.

I don't really do this as a hobby either... its just a once in a while thing.

If I have to report it, then fine, but I am looking for any SPECIFIC info you can find that says we HAVE to report it.

I read an article that Ebay does not report sales to the IRS and really has no way of tracking if payments are made and how much money is actually changing hands... so... what do we do?

2007-01-01 15:45:51 · 3 answers · asked by dgrams2003 2 in Other - Taxes

need to know NOW plz urgent

2007-01-01 15:41:02 · 10 answers · asked by aar_babie 2 in United States

2007-01-01 15:16:09 · 5 answers · asked by india 2 in United States

2007-01-01 15:10:21 · 7 answers · asked by Anonymous in United States

i made approx 17,500 how much taxes have i paid?

2007-01-01 15:05:39 · 5 answers · asked by Anonymous in United States

I made $30,000 should i claim both kids or my girlfriend made $5,000 should i claim 1 and her claim 1 which way will we get the most back.

2007-01-01 15:04:07 · 3 answers · asked by clark 2 in Other - Taxes

2007-01-01 14:47:41 · 10 answers · asked by aaronmorris82 2 in United States

2007-01-01 14:29:52 · 6 answers · asked by sgilliam22@sbcglobal.net 1 in United States

A person goes into the IRS office with a 1040 filled out except for the signature.

The following questions are proposed:


I am not sure if I am required to fill out this 1040 Form. My friends told me that I must.

What is the Code section that indicates a Form 1040 is required?

Before signing the form, I read on the Form that I would be signing it under penalty of perjury.

By signing the 1040, would be giving up my right to be silent under the 5th Amendment ?

(A suspected murderer would not have to do or say anything.)


Will an IRS offocial sign a statement, under penalty of perjury, indicating my requirements and the Chapter and Section that states my requirements?


In other words, other than my friends, who in the IRS or what section of the IRS Code would lead me to believe that I am liable for paying an Income Tax, and because of this requirement, indicate my requirement to fill out and sign (under penalty) a 1040 Form?

H.S. Student.

2007-01-01 14:10:45 · 10 answers · asked by Anonymous in United States

To figure out and claim business-related expense deduction for having worked under 1099 as an independant contractor, what form do I use?

Is it Form 1040-ES or Schedule C-EZ (if my exception is under IRS threshold) or both?

2007-01-01 14:07:07 · 4 answers · asked by Anonymous in United States

We inherited some property that was sold (against our wishes--long story) for about $110,000. The property was appraised at $81,900. Do we pay taxes on that amount under any tax law (i.e. inheritance tax, estate tax)? I really HATE talking to the IRS, therefore have chosen to put my fate in your hands.

2007-01-01 13:41:37 · 6 answers · asked by CyndiDrum 4 in United States

Just wondering how much I can expect to get for claiming one child. I'm in Kansas and claim 0 on my taxes throughout the year. I believe I would fall under the lowest tax bracket.

2007-01-01 13:40:50 · 3 answers · asked by wiltherealslimshadypleeseshutup 2 in United States

I sold a life insurance policy . I received money. I donated half to a charity. What amount do I pay taxes on?

2007-01-01 13:40:22 · 2 answers · asked by wynkie 1 in United States

2007-01-01 13:40:08 · 4 answers · asked by Anonymous in Other - Taxes

I sold a life insurance policy . I received money. I donated half to a charity. What amount do I pay taxes on?

2007-01-01 13:38:40 · 3 answers · asked by wynkie 1 in United States

I "settled" with several credit companies for over $40,000 in debt. The IRS considers the settlement amount as earned income unless the tax payer was "insolvent" at the time of the settlement. My home has minimal equity but I don't know how to determine the value the IRS will use in calculating my debt to income ratio. It could make a big difference in my tax liability for the past year but was better than filing for bankruptcy or losing my home. This question even seems to stump tax advisors. Any wisdom out there in Yahoo land would be appreciated.

2007-01-01 13:05:26 · 3 answers · asked by butkus 1 in United States

Celine is going to be subject to the AMT in 2005. She owns an investment building and is considering disposing of it and investing in other realty. Based on an appraisal of the building’s value, the realized gain would be $85,000. Ed has offered to purchase the building from Celine with the closing date being December 29, 2005. Ed wants to close the transaction in 2005 because certain beneficial tax consequences will result only if the transaction is closed prior to the beginning of 2006. Abby has offered to purchase the building with the closing date being January 2, 2006. The building has a $95,000 greater AMT adjusted basis. For regular income tax purposes, Celine expects to be in the 25% tax bracket in 2005 and the 28% tax bracket in 2006. What are the relevant tax issues that Celine faces in making her decision?

2007-01-01 13:04:36 · 1 answers · asked by cntrybmpkn_95 2 in Other - Taxes

From late last year, I made only about 6 thousand bucks. I am trying to claim business related expenses, but don't have all the receipt. However, my credit card statements show transactions that I'm missing the receipts for. Would it be advisable to use what's on the credit card statements to claim the deduction OR is it a one way to get my a$$ fried and have tax evasion charge on my record?

Also, is there anyway to claim cash transaction for business related expenses, but you do't have the receipts.

2007-01-01 12:39:49 · 2 answers · asked by Anonymous in United States