Taxes - February 2007

I do bookkeeping for a small business.
Since I have no ownership interest, I work as an independent contractor.
I also make myself a check monthly for my services and have it signed by the owner.
I do not withhold taxes and settle up at the end of the year since I have other sources of income.
Do I need to make myself a Form 1099 since I do the books, write my own check, and know what I made last year?

2007-02-28 23:22:14 · 3 answers · asked by Kari 4 in United States

We are exporting Fresh Fruits & Veg. If we take technical services about technology from foreign service provider who have no office in India for growing fruits or Veg then what we will have to pay/deduct service tax.

2007-02-28 22:46:56 · 2 answers · asked by nit_esh1970 1 in India

1. Every citizen should be provided with a permanant account number
2. Cash transactions should be discouraged by printing money upto the denomination of Rs.100.00 only
3. All transactions above Rs.1000/- to be made through banks with dr/cr card, funds transfer, chq/dd or online payments.
4. All taxes (IT,ST,cess,ED,service tax etc.,) should be dropped. Only transaction tax of 1% on each bank transaction let it be debit or credit to be levied and automatically transferred to treasury a/c. (I think this will be sufficient to replace all the taxes)
5. Banks should maintain one a/c and give uniform interest.
6. If all taxes are dropped, somuch of paper work and filing of returns, maintainance,inspecting and scrutinising will vanish & the people used for this purpose can be utilised to do for more productivily
7. If cash transactions are discouraged, then corruption,black money etc. will fall to nil.
8. budget only for proper expenditure and need not worry abt income.

2007-02-28 20:57:41 · 2 answers · asked by toknowmore 4 in India

2007-02-28 20:40:50 · 5 answers · asked by Anonymous in Other - Taxes

The annual salary i am paid is more than the exemptuon limit on tax. Is tds applicable in this case? Is it compulsory or can we do without it? How can we save more on tax?

2007-02-28 20:31:26 · 3 answers · asked by amit s 1 in India

I am doing my partners taxes and stated that the both children did not live with him at all and checked that they were non relatives, and the amount of refund went up. Can that really happen? How does that work with dependents whose non relative claim them?

2007-02-28 20:31:22 · 5 answers · asked by feel_n_learn 3 in United States

2007-02-28 20:15:05 · 3 answers · asked by Anonymous in United States

2007-02-28 19:01:55 · 9 answers · asked by Anonymous in India

1. Every citizen should be provided with a permanant account number
2. Cash transactions should be discouraged by printing money upto the denomination of Rs.100.00 only
3. All transactions above Rs.1000/- to be made through banks with dr/cr card, funds transfer, chq/dd or online payments.
4. All taxes (it,st,cess,ed,service tax etc.,) should be dropped. Only transaction tax of 1% on each bank transaction let it be debit or credit to be levied and automatically transferred to Govt.'s treasury a/c. (I think this will be sufficient to replace all the taxes)
5. Banks should maintain one a/c and give uniform interest.
6. If all taxes are dropped, somuch of paper work and filing of returns, maintainance,inspecting and scrutinising will vanish & the people used for this purpose can be utilised to do for more productivily
7. If cash transactions are discouraged, then corruption,black money etc. will fall to nil.
8. budget only for proper exps and no worry abt income

2007-02-28 18:51:54 · 2 answers · asked by toknowmore 4 in India

I apparently got chosen from thousands of email addresses. Anyone else experience this?

2007-02-28 18:47:01 · 10 answers · asked by linden_nut2005 1 in United Kingdom

2007-02-28 18:33:55 · 6 answers · asked by jeffrey545 1 in Other - Taxes

2007-02-28 17:58:47 · 3 answers · asked by Anonymous in Other - Taxes

I'm buying a house that will be completely in my name, but both myself and my fiance will live in it. I bought the house with the intention of my then girlfriend (now fiance) helping pay part of the monthly living expenses (mortage, utilities, etc.). The house will be the primary (only) residence for both of us. Since I'm the owner, I'll be writing the checks to the bank for the mortgage and she'll be giving me a check every month. Is her payment to me considered taxable income for me? Is there a special tax-free provison for shared living expenses? I know it won't matter after we get married, but that won't be until early 2008. Do I have to report every penny that she pays me for the mortgage in 2007?

2007-02-28 17:31:35 · 5 answers · asked by Michael B 1 in United States

married filling seperate tax bracket

2007-02-28 17:24:06 · 5 answers · asked by jackbail@sbcglobal.net 1 in United States

I have a policy that I have paid taxes on the dividends & interest for years. It has a cash value now. When I cash it in do I have to pay taxes on it again?

2007-02-28 17:04:34 · 3 answers · asked by sqeker48 3 in United States

Like in India women are exempted from paying tax upto 1.45 lakh rupees.But it is only 1.1 lakh Rs. for men.

2007-02-28 17:01:54 · 7 answers · asked by panku 1 in India

2007-02-28 17:00:44 · 10 answers · asked by Anonymous in India

2007-02-28 16:56:07 · 6 answers · asked by chicki 1 in United States

Does it depend on what state we live in? If so, we live in Wisconsin.

2007-02-28 16:56:05 · 7 answers · asked by starlight_940 4 in United States

TAX QUESTIONS! Please

I lent someone $2000 during the tax year and they didnt pay it back until the next year. I dont have thier SSN but I do have the original check that was written to them. I wish to somehow deduct this on my Schedule-C but its over $600 so cant be considered non-employee compensation.. should it be a consulting fee? He was sort of a consultant.


Also alot of payments for services (security, graphic design, street team promoters) were made to companies/regular people with Credit cards and checks.. but some were made in cash.. can I deduct these?

2007-02-28 16:46:17 · 3 answers · asked by TheAnswerGuy 2 in United States

2007-02-28 16:23:44 · 6 answers · asked by kml 1 in United States

Last year the limit of yearly income was four lakhs.

2007-02-28 16:08:59 · 4 answers · asked by AMRIK P 2 in India

2007-02-28 16:00:32 · 4 answers · asked by panku 1 in India

2007-02-28 15:49:18 · 4 answers · asked by Lucas 1 in Australia

If they didn't make enough that they were required to file, therefore they didn't, and then found out later down the road that they could have to receive a refund, is it possible to file for those past years and receive the money that was withheld? Or should they just accept the loss and let it go?

2007-02-28 14:50:20 · 5 answers · asked by Cinnamon 6 in United States

2007-02-28 14:49:59 · 7 answers · asked by onegifford 2 in United States

2007-02-28 14:47:08 · 2 answers · asked by atreides_096 2 in United States

How much (% wise) can I get back for rent paid to my landlord? I pay $600 per month.

2007-02-28 14:44:23 · 2 answers · asked by Maggie 2 in Canada

2007-02-28 14:41:04 · 5 answers · asked by onegifford 2 in United States

I only worked a couple months because I've gone back to grad school. However I have $35K in mortgage interest deductions. Does this make sense? I also have a child and am claiming that deduction.

2007-02-28 14:36:20 · 8 answers · asked by Anonymous in Other - Taxes