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Taxes - January 2007

[Selected]: All categories Business & Finance Taxes

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My girlfriend of 4 years is unemployed and has been living with me for about a year. Can I claim her?

2007-01-18 07:59:17 · 11 answers · asked by Anonymous in United States

2007-01-18 07:57:58 · 11 answers · asked by Anonymous in United States

I want to let the money accrue interest/earnings tax free for as long as possible, but didn't want to lose the ability to withdraw the money penalty-free. I've had the account for more than 5 years, so that requirement is met.

Additionally, can it be used for "renovating" my first home, or does it HAVE to go towards a down payment or closing costs etc.?

Thanks in advance, good sources will get the "Best Answer"

2007-01-18 07:52:12 · 4 answers · asked by Karen B 1 in United States

My husband took out funds from his plan(tax was excluded when he was investing in this plan) during the last fiscal year but he spent a good portion of 2006 abroad, does any one know if the funds taken out is considered as part of his income for 2006. For people spending time abroad, there is an exemption of the first USD80,000(income) for tax, I am not sure if taking out funds from his plan is considered as income!

2007-01-18 07:45:56 · 1 answers · asked by hhbasile 4 in United States

I am a regular W2 wage earner. I have no dependants, I have owned a condo since Nov. 2005. All payments have been paid. I haven't taken from any stock or bond.... Any insite would be great. Thanks.

Also, does anyone know a good CPA in Vallejo, Ca.?

2007-01-18 07:37:19 · 3 answers · asked by Sweet96 3 in United States

So this tax season, we can claim money for this spanish-american war tax. its a tax that was put on long distance phone calls. I have had only a cell phone. can i claim this tax? do you think the irs would check my phone records?

2007-01-18 07:31:36 · 7 answers · asked by sabre_girl_2000 2 in United States

I left a company 14 months ago. I was signed up for a transit savings account (like the health care savings account). I have repeatedly called trying to get them to stop putting money in the account. Since they are putting money, I cannot have my new company put money in (only one company can). I got them to stop for a couple of months, but they started up again. I am afraid that they are going to come after me and make me pay back in after tax dollars. How can I get them to stop? I am using the money because I do not want this old company to make me lose my tax savings. I am more than willing to pay back the money with before tax money, but if it is years later, will that be possible? Hard to believe that a MAJOR bank can be so screwed up that they do not know who works there and who they are paying benefits to.

2007-01-18 07:28:28 · 7 answers · asked by Sally M 2 in United States

2007-01-18 07:21:51 · 7 answers · asked by Tim is cool 1 in United States

I started a business in Sept. of 2006. I am the sole proprietor. The business has its own tax number. I do not draw earnings from this. I want to file this seperately from my personal taxes. I already filed my 1099 & 1096 for my independent contractors. Which forms should I fill out to report my earnings and expenses? And, Can I file it in just the company's name and just use my name as the owner/contact. I do not want this to be affiliated with my personal taxes. (I work a full time job that I claim as my income) Can I do This?

2007-01-18 07:14:03 · 7 answers · asked by Shawn G 1 in United States

i recieved unemployment does anyone know where you can go to find the w2 online from department of labor

2007-01-18 06:53:59 · 5 answers · asked by Jaime m 1 in United States

I have a small internet retailing business located in Arizona. I would like to move myself to California. If I keep the corporation, employees, retailing and shipping operations in AZ would my personal relocation to CA require me to start collecting sales tax from CA customers?

2007-01-18 06:51:10 · 5 answers · asked by James W 1 in United States

My mom claimed him but she doesn't have the social security number while the father has the number and plans to claim him when his W-2's come in... what will happen to them.... and who will get the tax return?

2007-01-18 06:46:26 · 20 answers · asked by Anonymous in United States

are there different ways to split the deduction legally? do we have to split? what are the real laws on this?

2007-01-18 06:38:46 · 8 answers · asked by Beach_Bum 4 in United States

My mother owns a house in NJ that is paid off. She put my brother's name on the deed when she purchased it. She has paid off the house. Now my brother owes the IRS a lot of money. Can the IRS put a lien on the house even though my mother's name is also on the deed and she doesn't owe anything?

2007-01-18 06:27:30 · 4 answers · asked by christina c 2 in United States

Not everyone is aware of this, but as of this year anyone earning over $97.500 will not be subject to the 12.4% social security tax above that amount (6.2% if not self employed). That means even if you make 1 million this year, you could pay as little as $6045 in taxes on earned income. And most millionares have unearned income (investments) that are not even touched by this tax. If you are "middle class" and earn 45k as a self emloyed "whatever" you would have to pay $5,580. What do you think about reversing the cap. The first 10k is not subject to S.S. tax $620. Then raise the upper cap to $107.500. A person making over 100 grand would pay an extra $620 in taxes. Who needs the extra money more? The person making 10,000 a year or 100 grand?

2007-01-18 06:12:13 · 6 answers · asked by Kari 4 in United States

My significant other just bought a condo together this year . She makes double my salary but I own another condo that I rent out (barely covers my mortgage). We are trying to decide who will benefit from taking the mortgage interest deduction and how we will get the most money back from our taxes?

2007-01-18 05:57:52 · 4 answers · asked by bbtb 1 in United States

My employer paid for school last year and I was curious as to how I should reflect this on my tax return. They gave me a 1099 that shows the miscellaneous income for tuition. I paid the tuition and my company reimbursed me back through payroll. So, since the goverment gives education credits for school expenses how should I put this on my tax return? Do I show the tuition as misc. income and then mark the education credits as well? Or do I have to do it another way? Any tax specialists if you know please answer! I am stumped! Thanks!

2007-01-18 05:57:42 · 10 answers · asked by jsssika 2 in United States

A realtor was not involved in the sale, but I did give a person a cut of the profits. He said that I need to create a 1099 for him, so I can write off his portion of the sale....as well as he getting taxed on the actual income from the sale (he gave me his SS#). Is this something that I can accomplish online? I checked out the IRS sites but got a bit confused. Thanks

2007-01-18 05:41:50 · 3 answers · asked by Agape Man 2 in United States

Do retireees have to pay any taxes when working out in public or if self-employeed?

2007-01-18 05:35:30 · 4 answers · asked by Jean S 1 in United States

2007-01-18 05:32:59 · 11 answers · asked by No Picture 1 in United States

2007-01-18 05:23:08 · 4 answers · asked by Chyna9 3 in United States

I really didnt make much last year from the business but I had expenses on equipment, stationary,promotions to get it going. Is it something I can do myself on turbo tax for deductions or should I go with a cpa to get it right?

2007-01-18 05:20:08 · 9 answers · asked by Cesar F 1 in United States

he was off work for 1 year after extensive brain surgery and when he returned to work I informed the IR on his behalf. He was already
3K in overpayments for 03/04 but they have continued to pay working tax credit into his pay for 04/05 and 05/06 which has led to
the 10K debt. Today I received a threating phone call from the IR
dictating to me that they have forwarded me on to the debt collections dept and I will be getting a visitor and if I dont agree to
pay the debt I will be taken to court! This was my husbands debt
am I liable for it? the IR officer dictated that I was. I'm absolutely devastated by his coarseness and total lack of compassion. I am wrought with worry as I didn't have access to my husbands wage slips and he was not of sound mind during his last months before his death. please can anyone give me some sound advice... before I have a breakdown, I have just got through a course of councilling and this has put me back and distressed me further. thank you so much.

2007-01-18 04:42:21 · 12 answers · asked by Tickerbiller 3 in United Kingdom

My Scottish husband lived in the UK prior to our wedding in September 2006. He does not yet have a Social Security Number nor does he have any US income. I understand that I have to file as married, but what do I do without a SSN for him? File jointly, seperately? Do we have to get a tax ID for him if he does not have income? TurboTax will not let me submit without his SSN.

2007-01-18 04:30:48 · 4 answers · asked by eebrocks 1 in United States

how wast he experience? did they charge you what they say they will charge? were you able to get the refund they said theyw ould send you? would you file taxes with turbo tax agian? i'm filing with them right now but- before i finish the application- i want to get some input from others.

2007-01-18 04:30:46 · 9 answers · asked by mari d 2 in United States

The amount of interest that we have to pay does not exceed the amount needed to use it as a write off on a joint return.

2007-01-18 04:28:26 · 3 answers · asked by Anonymous in United States

I started a business in 2005. I pay contractors to do the work for me. At this time, I do not collect any earnings from my business. I reinvest the money back into the business to grow it. Which forms should I fill out to report the company's earnings and expenses. I already filed the 1099 and 1096 for my contractors.

2007-01-18 04:20:51 · 3 answers · asked by Shawn G 1 in United States

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