Taxes - January 2007

This is my first time filing taxes as an independent contractor. I'm trying to decide between 3 tax software titles:

$90 - TurboTax: Home&Business Edition
http://turbotax.intuit.com/tax_products/learn_home_business.jhtml

$80 - HR-Block: Home&Business Edition
http://store.taxcut.com/dr/v2/ec_MAIN.Entry10?V1=877874&PN=1&SP=10023&xid=1478&CUR=840&DSP=&PGRP=0&ABCODE=&CACHE_ID=0

$60 - HR-Block: Premium Edition
http://store.taxcut.com/dr/v2/ec_Main.Entry17c?SID=1478&SP=10023&CID=0&PID=860899&PN=1&V1=860899&CUR=840&DSP=&PGRP=0&ABCODE=&CACHE_ID=0

Which of these software titles would work best for a home run business? Also, should I use an e-file?

2007-01-20 10:20:01 · 8 answers · asked by Jimmy John 2 in Other - Taxes

Im pretty sure I can write off gas expenses, can somebody please help me with some others for when I got to H&R block to write off.

THANKS

2007-01-20 10:16:17 · 2 answers · asked by psxfff123 3 in United States

2007-01-20 09:50:24 · 2 answers · asked by zxdfmlp 3 in United States

i have been working since aug.2006 so i was wondering if i can file for taxes???

2007-01-20 09:37:33 · 9 answers · asked by Anonymous in United States

i bought my 1st place (1st time home buyer) in june which is a condo. my whole kitchen was redone with cabniets, tile, stove, sink, counter tops, painted and washer/dryer. can this be writen off? can the labor be writen off? what can be writen off with my morgage payments? anything to do with home improvements be writen off? co worker told me this can be.

2007-01-20 09:36:24 · 5 answers · asked by AJ 2 in United States

2007-01-20 09:10:01 · 7 answers · asked by Jeffery T 1 in United States

I'm a student at a university and I work on campus as well. I'm a full student who has a car payment, tuition, books and barely makes $12,000. The majority of my income goes into school.

Can put my education as a tax write off? or anything of that nature. I've talked to people and they say I can't and then I talk to others and they get all of it refunded. Any one can help me? this is my third year in school and I'm barely making it through with my income. Thank you.

2007-01-20 09:05:21 · 5 answers · asked by Anonymous in United States

2007-01-20 09:03:01 · 4 answers · asked by chelster 1 in Other - Taxes

Do the new IRS rules under the Pension Protection Act of 2006 prohibits donors from declaring contributions to charitable organizations unless they can produce records of the transactions impact 2006 filing, or is it for 2007? Also, either way, if I have the records of proof, but file electronically, do I need to do anything, or do I merely hold on to the records for a potential audit? In other words, can I still e-file, or do I need to mail my return in with the documentation of the donations?

2007-01-20 08:58:24 · 2 answers · asked by Anonymous in United States

2007-01-20 08:57:19 · 5 answers · asked by sks 1 in United States

Wages: 40044.89
Federal Income Tax Withheld: 6969.20
Married filing Seperate
Social Security Wages: 22770.52
SS tax withheld: 1411.77
Medicare tax withheld: 330.17

2007-01-20 08:56:19 · 2 answers · asked by Jennifer M 2 in United States

2007-01-20 08:53:39 · 2 answers · asked by flotown79 2 in Other - Taxes

Ok, I bought my first home in sept. I am getting ready for taxes this year and i am confused. I know you can deduct your interest and property taxes but they dont equal more then my standerd deduction. Is there a way to do both? I know after a full year of paying this may work out better but i was hoping to see some benefits of owning a home right away. Is there something else i can look for to help with this?

thanks in advance

2007-01-20 08:43:36 · 4 answers · asked by compnurd9 1 in Other - Taxes

Before answering this question think about this. A large tax refund means that too much money is being taken out of your pay. Wouldn't it be smarter to change your withholding so you get the money with each pay check rather than the following year after filing taxes. I would even say that it is better to owe as much as possible, without reaching the penalty point. That way you would be able to save the money, earn interest which you keep, and then pay the principal next year to the IRS. That is my opinion. This is a survey to see what you think. The best argument either way will get the "best answer".

2007-01-20 08:43:11 · 5 answers · asked by Barkley Hound 7 in United States

2007-01-20 08:37:30 · 3 answers · asked by lilbagel21 2 in Other - Taxes

Explain me where is the justice. Why the person who makes more money get to pay more taxes?! The services are equally shared among rich and poor. Nobody gets the service from the government better is he is paying more taxes. Than how higher taxes are justified? Why the person, who makes more money, supposed to pay for the services used by someone who pays fewer taxes?
Please do not bring the arguments of we all supposed to fight the poverty or help each other. This is not about justice; it’s about humanity. My question is about justice. Humanity issues are out of the border of this discussion.

2007-01-20 08:32:00 · 5 answers · asked by szelvenskiy 2 in Other - Taxes

2007-01-20 08:31:17 · 5 answers · asked by uhh y 1 in United States

I'm a stay-at-home mom whos married with 2 kids. Would we get more back on our taxes if we filed jointly or if my husband claimed head of household since i dont work?

2007-01-20 08:21:58 · 5 answers · asked by Angel 2 in Other - Taxes

I left my company last year and promptly rolled over all of my 401(k) *directly* to an IRA. I've done this several times before. I almost had a heart attack when I got a 1099 from them reporting 28% of it as a "Taxable amount". I surely intend to talk to them on Monday, but in the meantime I'm in a panic and would like to get opinions. The strange thing is that it's not all taxable, even though I took one distribution. I could see it if they didn't think I'd had rolled it over to a qualified retirement plan, but they obviously think I did, since it's not all taxable. My dad thought he had run into this before and said some code on the W-2 indicates it's non-taxable, but I don't see anything on there, and why would it say "taxable" in black and white only to be reversed by a secret code on the W-2? So any theories on what happened? Could this be legit? Or is this just an administrative error?

2007-01-20 08:05:15 · 8 answers · asked by ? 4 in United States

2007-01-20 08:03:41 · 3 answers · asked by brybry001 2 in United States

The Federal return asks for the Asset Sales Price and expenses and also the land sales price and expenses. Should enter the actual sale amount or the amount I received after paying the mortgage I owed?

2007-01-20 07:48:08 · 2 answers · asked by Q&A Gal 2 in United States

My ex wants me to say that he can claim our kids for exemptions and I can claim them for credits. Is this legal? Can it be done? I thought only one person could claim the kids at a time. And when you claim dependents don't you claim both the exemptions and credits at the same time? I am very confused and am in a very tight time table. Please help.

2007-01-20 07:18:12 · 10 answers · asked by uniquenorthern 1 in United States

Why I ask is because in CT they take up to 2/3rds of your teacher's retirement and subtract it from your social security even if you've paid your 40 quarters. So if you receive $1500/month as a teacher and $1200 a month from SS they will subtract $1000/month (which is 2/3rds of your teacher's retirement) from your SS. Leaving you with your teacher's retirement and $300 in SS.

2007-01-20 07:10:32 · 3 answers · asked by Bill Spry 4 in United States

for a single person with no dependents. don't include the sales tax, just payroll taxes for a working person.

2007-01-20 07:09:18 · 3 answers · asked by 2doornot2do 1 in United States

2007-01-20 06:41:23 · 1 answers · asked by 6th Finger 2 in Other - Taxes

My husband is in the army, but I did not work in 2006 other than a small job in which I earned $1,773. We have one daughter to claim and no itemizing. For personal reasons, I would like to file separate and claim my daughter. Is this a mistake? Do you guys think I would get a desent return?

2007-01-20 06:31:39 · 4 answers · asked by cv 1 in United States

Will you ever get an audit for a tax return 5 years or more ago?

2007-01-20 06:28:39 · 9 answers · asked by 6th Finger 2 in United States

the box7-12 is empty . i dunno how to fill up . actually i have no idea.

2007-01-20 05:53:16 · 5 answers · asked by TONDRA A 2 in United States

2007-01-20 05:49:20 · 3 answers · asked by bknockndabootz 1 in Other - Taxes

2007-01-20 05:42:20 · 2 answers · asked by Hock Y 1 in United States