Taxes - February 2007

Doctor visit co-pays?

Prescription co-pays?

Pre-taxed medical deductions? (I assume not)

Before I add all my receipts up I want to be clear on these things.

2007-02-25 17:38:37 · 7 answers · asked by wendysorangeblossoms 5 in United States

We always used TaxCut for our taxes but in 2006 we had a baby and my husband was still in College and had to pay tuition etc.
Would it be better to get an accountant this year so we can get all the deductions and credits we are elligible for? Or do the advanced versions of the tax programs cover everything already??

2007-02-25 17:26:25 · 7 answers · asked by Boo 2 in United States

Like in NYC, do you get the state tax you pay back with your federal tax return?

2007-02-25 16:55:18 · 4 answers · asked by stephyrose87 3 in United States

I hear if you owned a cell phone you could get $30 more on your taxes, and what if you have two lines in your name? And what form do you need and how do your join it with your 1040EZ?

Please help or point me in some kind of directions of help?

2007-02-25 16:49:44 · 3 answers · asked by J<3R 5 in Other - Taxes

Was estimating my 2006 tax liability for April and realized I forgot to include capital losses and Schedule D from 2004. I plan to submit a 1040X and I'm wondering if I need to fill in values for each line or simply lines #1, #5, #6, and etc...(basically, just the lines that changed between returns)?

2007-02-25 16:31:28 · 4 answers · asked by TheTotalStud_StudTotal 4 in United States

I filed my 2006 taxes already, and they took the full refund to pay outstanding student loans for my new husband, whom I married mid 2006. I filed the injured spouse form showing that all income was mine, none from him at all. What will happen to my refund?

2007-02-25 16:18:28 · 4 answers · asked by Anonymous in United States

Do contributions to an Indian provident fund need to be reported on a US tax return? I am a US Green card holder but Indian citizen residing in the US

2007-02-25 16:08:33 · 3 answers · asked by timepass 1 in United States

i.e. if I took a $1500 distribution from my roth ira, and my origial contribution was at least $1501, do I owe taxes for the $1500 distribution?

2007-02-25 16:03:50 · 2 answers · asked by dohcraw 2 in United States

I am a registered Nurse working in the community/district nursing. I am currently 2/3 of the way through my Advanced Diploma of Naturopathy which incorporates advanced diploma of western herbal medicine, IV in massage and Advanced Diploma of Nutrition. When I have finished this course I am going to work from home as a INdependent nurse practitioner , naturopath, massuese, and herbalist. Now, my accountant is a lazy... so and so, and he said I couldnt claim these course fees. When I rang UNi they said there are nurses currently doing that course that are claiming the course fees. I have paid full fees upfront and am very broke. can anyone with accounting experience in AUSTRALIA give me any help?? Or ideas or guidance?

2007-02-25 15:41:32 · 5 answers · asked by Emilie25 2 in Australia

We upgraded from a townhouse to an SFH last year and rented out the TH. Taxwise, my rental income does not cover the property tax+mortgage interest+depreciation+maintenance so I'm not getting any deduction off this loss.

My question is, let's say I kept this property for 5 years and sell it then, how will the cost basis be calculated at that time? Will IRS take the depreciated amount off my cost basis even though I get no benefit out of it?

Thanks

2007-02-25 15:40:03 · 3 answers · asked by BMW 2 in United States

the difference in the tax is large if she is able to claim the original contribution

2007-02-25 15:23:03 · 2 answers · asked by dohcraw 2 in United States

some of the deying units and plating industries charge vat on there job work invoices whether it is as per law or not

2007-02-25 15:06:33 · 1 answers · asked by Anonymous in Other - Taxes

If me and a business partner own a piece of real estate, and my partner is behind on taxes, can the IRs lien a property we own as joint tenats, and if so how does this affect me.

2007-02-25 15:02:27 · 4 answers · asked by Scott 2 in United States

My wife and I were planning on filing jointly for the second year in a row. My wife insisted on doing the figures this year again. In 2006, I paid out more taxes than any other time in my life (when i was single I always received at least $500 from the tax return). But my wife (not to blame her in any way) found out that because her employer did not take out enough federal taxes we owe about $800! What? I am pretty devastated. SHOULD I LOOK INTO FILINING SEPARATE? IS THERE ANY POSSIBILITY WE COULD COME OUT BETTER INDIVIDUALLY? WE MADE APPROXIMTALEY (COMBINED) $65, 000. PLEASE, SERIOUS, INFORMED FEEDBACK ONLY. ALSO, I DO NOT WANT TO SPEND A LOT ON FINDING OUT THAT WE STILL OWE A LOT. THANKS EVERYONE.

2007-02-25 14:48:24 · 5 answers · asked by James R 1 in United States

of course you'd have to pay sales tax and such, but would the IRS be after you for state and federal taxes?

2007-02-25 14:30:10 · 8 answers · asked by Anonymous in United States

A. social insurance taxes.
B. excise taxes.

C. borrowing.

D. personal income taxes.

2007-02-25 14:23:24 · 4 answers · asked by ashley n 1 in Other - Taxes

My Mom purchased a home in N.J. for about $80,000 10 years ago.Since then she has refinaced it with a home equity loan and currently owes $69,000 left on that loan.She wants to sell the home to me for whats left on the loan as a cash out refinance loan which would put the house in my name. The question is or questions are is there any type of gift penalty to me since the actual market price of the house is $180,000,and how might the IRS view this if at all, as a capital loss(since its being sold for less the it was originaly paid for) or as something else since it could be sold for more. Any thoughts or advice is this would be greatly appreciated.

2007-02-25 14:17:16 · 4 answers · asked by Gene x 1 in United States

- I bought a new construction home in 2006 (first owner)
- House came installed with Energy Star windows
- I paid a lump-sum for the house (i.e. no breakdown of the amount paid specifically for the windows, but I suppose I can get that information from the builders.)

2007-02-25 14:17:00 · 1 answers · asked by atlasshrugged 1 in United States

i am 18 now but i started work when i was 17.

2007-02-25 14:08:54 · 2 answers · asked by tapu 1 in United States

2007-02-25 14:01:20 · 2 answers · asked by Doll D 2 in United States

2007-02-25 13:51:24 · 2 answers · asked by Anonymous in United States

2007-02-25 13:46:12 · 4 answers · asked by dcopsy3 2 in United States

2007-02-25 13:37:28 · 9 answers · asked by Sonz 1 in United States

I have a capital loss carry over of 20K. Would it be in my best interest to sell some mutual funds and realize a capital gain and try to offset this carryover? It seems like in some way it's advantageous to get it off the books ASAP.. sort of like I"m giving the Gov a loan.. but perhaps it's really a wash

2007-02-25 13:31:07 · 3 answers · asked by jetskers 1 in United States

Hi I am 17 years old and in 2006, had a part-time job. Now, I earned $10,000 of income. Should I still file with my parents and just put my earned income there, or should I do my own income tax this year? How would it best work out?

2007-02-25 13:28:28 · 6 answers · asked by suavemonkey14 1 in United States

I recently married a philippino woman with an 11 year old daughter on sept 12 2006. the wedding was in the philippines and niether has ever been to the U.S. but I do have documentation of the wedding and all of the support I have provided to them. They do not have SSN. because they are both Philippine citizenes.

2007-02-25 13:24:50 · 4 answers · asked by Anonymous in United States

You've guessed right! I have a question. :)

So my favorite actress is living in the UK but I guess she's still American even though she's been over there for like 5 years, though I'm sure that makes no difference. Anyway... Tax time and all that good stuff is going on.

Does she have to do the whole filing taxes by the 15th...well 17th this year? That goes for anyone I guess, if they are American and living in another country. Do they have to worry about all of that stuff even though they're wherever they are?

Hey, I didn't say it would be a good question! :)

2007-02-25 13:22:36 · 3 answers · asked by Anonymous in United States

is there any way to get anything even though i didn't work? i haven't paid anything on my school loans because i am in school now, and i have 2 kids.

2007-02-25 13:20:23 · 5 answers · asked by i_left_my_mind_with_the_baby 4 in Other - Taxes

My daughter has Optic Nerve Hypoplasia. Her vision at her last examination was rated at 20/600....Our eye doctor mentioned to me that there might be a tax break we could take advantage of.

2007-02-25 13:15:19 · 3 answers · asked by jaybez7410 1 in United States

I have interest only loans and the amount would surpass the suggested amount claimed per year for my income level and I dont want to draw red flags

2007-02-25 13:08:02 · 3 answers · asked by fires 1 in United States