Taxes - February 2007

2007-02-26 09:20:24 · 4 answers · asked by GreenShoes 1 in Other - Taxes

I'm currently an university student. I received my 1098-T from school. I don't have relatives in the US. I wonder can my boyfriend get tax refund with my 1098-T? (I heard that I can claim myself as his dependent, how does that work?)

PS. We are in different states.

Thank you so much.

2007-02-26 09:12:24 · 2 answers · asked by 0421 3 in United States

This year I got an unusually large bonus (around 35% of salary) while I normally get around 10-15%. Is there any way I can smoothen the tax bite?

- I already max 401-K, have a employer retirement plan and am not eligible for IRAs based on household income.

- This is 2006 bonus, paid in 2007. So the delay a year option is already utilized.

Can I invest the excess money in any investment that would help me defer taxes a la 401-K or classic IRA (I don't know...some government bonds? 529? investing in business? buying a bigger home?)

Thanks in advance.

2007-02-26 08:55:32 · 4 answers · asked by Harry 3 in United States

About 6 months ago my wife and I got letters saying that on our 2004 taxes we got back more on our refund than we should have. It said that we both got back over $400 a piece. We have never gotten more than $200 a piece before we got married and since we did our taxes this year "married filing jointly", we got just under $300. How do we prove that we never received the amount they said we did?

2007-02-26 08:55:01 · 3 answers · asked by Anonymous in United States

I worked for a company part-time for 2 years while I was a student. The first year I earned $1,000 the second year(2006) I earned $15,000. The company gave me 1099-MISC instead of W-2. I never signed a contract or considered myself a self employeed contractor. I always thought I was an employee for the company. There was no written agreentment or contract when I started to work. I was paid hourly and was offered a health care plan but turned down because they wanted to lower my hourly rate if I accepted the health care plan.

I didn't file tax return last year because the amount I earned ($1,000) was not enough to file. I found out this year that individual contractors need to file tax return if the income was above $600. Will there be a penalty for me?

I'm trying to submit SS-8 form and have my status changed to employee. How long does the whole process take? How should I file my tax return this year? Should I file an extension and wait for the IRS SS-8 decision

2007-02-26 08:51:44 · 5 answers · asked by Test 1 in United States

2007-02-26 08:50:28 · 4 answers · asked by redeemned forever 1 in United States

I never work out of the NY offices, and my company isn't registered to take out RI state taxes. How can I handle this at the end of the year? I am assuming that I'll owe RI, and get a NY refund.

2007-02-26 08:48:47 · 2 answers · asked by Dan S 1 in United States

2007-02-26 08:41:18 · 5 answers · asked by ashley f 1 in United States

I was divorced in 1996, divorced stated that my ex-husband pay support and could claim my son as a dependant, I claim my daughter. I have not received any child support in almost 4 years. Could I claim my son as a dependant? I am the sole supporter of both my children, single, and they are both full time students.

2007-02-26 08:38:03 · 7 answers · asked by tparks3717 1 in Other - Taxes

2007-02-26 08:37:59 · 4 answers · asked by robinrodgers2004 1 in United States

2007-02-26 08:36:01 · 4 answers · asked by robinrodgers2004 1 in United States

I am filling out a Form 8379 Injured Spouse Allocation and have a question on line 8 (adjustments to income).

Basically my wife had very little income last year so I paid her student loans and interest (the student loan interest nearly equaled her income).

The student loan interest is showing up as an adjustment on my 1040.

The tax prep software carries that over onto the 8379 and asks me to allocate it between the injured spouse (me) and the 'other' spouse (my wife).

Which column should get this adjustment - the person who OWES the student loan interest or the person who PAID the student loan interest?

Thanks,
Marc

2007-02-26 08:26:04 · 3 answers · asked by marcrobson_cli 1 in United States

i still have not gotten mine

2007-02-26 08:24:41 · 2 answers · asked by kittyheathercat 1 in United States

As many im in the same boat no answers no refund. Has anyone gotten the answer of " you should be recieving a letter " or is it just me?

2007-02-26 08:14:43 · 7 answers · asked by sonia o 1 in United States

Capital tax gains question?
bought house 374k 11 years ago
own 950k presently, made lot of improvements.

sell it for 1,200,000.00

what is my tax liability issues or gains i can claim????

Additional Details

we have taken out couple second mortgages and equity line credit,how does that effect this??

2007-02-26 08:12:50 · 5 answers · asked by systeck10980 1 in United States

My wife and I had a baby last year and I am wondering what I can write off. Can I write off all the hospital bills? How about baby food, diapers, crib, stuff for the baby? Anything else? Thanks!

2007-02-26 08:10:41 · 7 answers · asked by Rick 2 in United States

2007-02-26 08:02:27 · 2 answers · asked by Anonymous in United States

Let's say I had no activity on my account last year. Do I still need to claim the charges incurred from this website this past year or do I wait until I sell all of my holdings...I am confused

2007-02-26 07:59:53 · 1 answers · asked by Anonymous in United States

2007-02-26 07:59:35 · 2 answers · asked by Wil 1 in United States

Were I to obtain a Irish Lottery ticket (Which is illegal in the US) by a gift from a friend (unsolicited) and I won. (Ha) I would not bring any of the winnings into the USA . But it would be in a savings account over seas in a straw man account. WOULD I OWE ANY TAX TO US GOV. I heard of something like this happening several years ago but not how it was resolved or if the poor smuck was throne in the poky.

2007-02-26 07:55:35 · 2 answers · asked by jonrhoward@sbcglobal.net 1 in United States

2007-02-26 07:53:20 · 5 answers · asked by Anonymous in Other - Taxes

I just recently got married and started a new job. My wife works and she makes more money than I do. My question is how should I file my taxes: Single, Married, or Married, but withhold at higher single rate? Thank you

2007-02-26 07:51:58 · 2 answers · asked by mien_4 2 in United States

My wife just got her first job last December. The company accountant said that I could file jointly and get 2 standard deductions (10,300). I've been trying free filing from IRS (eligible for under 52K per year) but I can't seem to get 2 standard deductions

2007-02-26 07:50:19 · 6 answers · asked by majin 2 in United States

2007-02-26 07:45:58 · 4 answers · asked by gm4gm68 1 in Other - Taxes

2007-02-26 07:34:19 · 4 answers · asked by Rachael D 1 in United Kingdom

2007-02-26 07:32:05 · 2 answers · asked by Crystal P 1 in United States

2007-02-26 07:27:42 · 6 answers · asked by Lyle G 2 in United States

My husband works and I am a stay at home mother. We filed our taxes and it all is going to be taken for his back child support. I don't find that fair. We have 2 kids in the house that we got EIC for and he pays his child support every month (it was taken for past child support) But yet all our refund goes straight to his ex! Is there a way to keep the EIC for us but send the refund of his earnings to her?!

2007-02-26 07:24:49 · 5 answers · asked by Vicki B 2 in United States

after filling out my information in turbotax, i got zero for the amount i have to file for the state...does this mean i still have to file?

2007-02-26 07:23:40 · 6 answers · asked by cevil203 2 in United States

Presently many pay no taxes, in fact get a refund or credit in excess of what they paid in. Should not we all share in the cost of running our countries business? We all all benefiting from US services.

2007-02-26 07:22:12 · 6 answers · asked by FENTON1943 1 in Other - Taxes