Taxes - February 2007

Can I deduct theirs on tax return?

2007-02-21 09:22:49 · 4 answers · asked by atlast 1 in United States

I am in outside sales in Boston and have many deductions. My current accountant upped his rate to $300, is this reasonable? I think he got me a decent return last year but have heard he is high priced.

2007-02-21 09:20:20 · 5 answers · asked by Jeremy P 2 in United States

2007-02-21 09:19:59 · 3 answers · asked by NANCY R 1 in Canada

2007-02-21 09:04:51 · 5 answers · asked by cindi_chean 2 in United States

claim that on my taxes. I understand its a retirement plan but it only gives me the option to mark as an IRA... how would I classify my 401k info while I do my taxes?

All your help is appreciated!

2007-02-21 08:52:00 · 5 answers · asked by Anonymous in United States

2007-02-21 08:48:02 · 7 answers · asked by Rosie L 1 in United States

Try this:
Assume you bought a Treasury Note maturing in 6 months for $24800 (face value=25,000) and held it untill it matured. Do you account for the $200 as a short term capital gain (where it seems to be reported on the 1099) or as treasury interest? Is it still taxable as a gain by my state (CA)?

2007-02-21 08:44:32 · 2 answers · asked by kdog 2 in United States

So IRS withhold the taxes of my partner because it seems there was 2 W2's sent in for 2003 thus IRS is saying he owe taxes. When he called, the rep told him he was working for another company that year and this is totally not true. The actual return filed for that year was for the company he is with now and was working with for the entire year in 2003.

So my question is, why would a past employer send in a W2 for a worker who wasn't even with that company in the said year? How come IRS didn't notice that in 2004, 2005 but only now in 2006?

Any advice how to proceed with this and convince IRS that what they have on file is totally not true. My partner has the W2 and Tax Return he filed for 2003 as evidence that he was with working for his present company.and not the one they are claiming he was working with.

Are companies allowed to send in tax information for employees who left the job LONG BEFORE the tax year being filed for?

2007-02-21 08:40:21 · 4 answers · asked by gtgem 3 in United States

Am I tax-free on Capital-Gain if I only lived in and owned my house for 2 years? (then on the 25th months, I sell it). Thanks!!!

2007-02-21 08:36:04 · 3 answers · asked by philip 1 in United States

He made 15x more money than I did last year.(I dont know if that matters) Can we both be head of household since we are not married?

2007-02-21 08:21:51 · 7 answers · asked by cari1239 1 in United States

My daughter said she was not ever given a pay stub and just paid outright. Is this legal, and how can it be? I told my daughter that she needs to look for a different afterschool job because she has a tax burden and social security and medicare HAVE to be paid. Do we need to contact the SSA and see what needs to be paid, and doesn't her employer HAVE to pay a portion? I don't see how they can fall into a category that makes its employees all "self-employed" because it is a private afterschool program. Is it legal if employees do not make more than a certain amount and if so, what is that amount?
Thanks fot your help. This means that my daughter will not receive a refund this year, but will owe, which is CRAZY since she is a full-time student.

2007-02-21 08:21:11 · 6 answers · asked by kcscmcc 1 in United States

He made 15x more money than I did last year.(I dont know if that matters) Can we both be head of household since we are not married?

2007-02-21 08:21:01 · 5 answers · asked by cari1239 1 in United States

I stay in an rental apartment. Is there a way, I can include rent amount in the 1040 tax form?

2007-02-21 08:18:40 · 7 answers · asked by RocktheParty 1 in United States

I bought a house about a year and half ago, I paid almost about $11000 in intrest. Will I get at least part of it back when filling tax and if so should I do itemize filling? Please help.

2007-02-21 08:12:11 · 7 answers · asked by hahol 1 in United States

I am 21 years old and a dependent. My parents did not pay for my education last year. Can I take the lifetime learning credit? Will I get money back from the government? I made only $3500 last year. If I owe, for example, $500 dollars (just a random guess!) will I get $1500 back? How does this tax credit work? I'm confused. Please help. Thanks :) .

2007-02-21 08:01:47 · 3 answers · asked by terra_incognita 3 in United States

susan n.

2007-02-21 07:37:44 · 3 answers · asked by freebird403us2001 3 in United States

I will be maintaining a web page for our home owners association in 2007. Can I write this expense for registration and monthly charges on my taxes next year?

2007-02-21 07:25:09 · 3 answers · asked by jdemaria2001 1 in United States

I work full time for an auto dealership but started translating on the side. My income last year was about $2600, over 1600 of which was wire transfers from overseas clients.
I am really confused as to the difference between hobby and business, I did not get a DBA yet. Should I include this as income this year on top of my full time job or does anyone have any ideas? Thanks in advance for your help!

2007-02-21 07:12:41 · 7 answers · asked by LUCREZIA 2 in United States

2007-02-21 07:10:48 · 9 answers · asked by D.C. 1 in United States

Various Insurance providers had not certified her eligible (until Jan 15 2007) to be reimbursed. She did not get a W2 from this employer, but the employer did take a small amount of her receipts (paitient co-pays) to apply to her portion of the office overhead. Does she have to pay tax on the amount used to pay a portion of her overhead for that time period? Her employer says since she did not get paid she does not owe taxes, but I contend that since the employer paid part of her office overhead, she is liable for taxes on that amount. She lives in Virginia. I know that she will receive a check eventually for the 4th Qtr 2006 and will owe tax when that is received.

2007-02-21 07:10:13 · 3 answers · asked by Steven L 1 in United States

2007-02-21 07:02:43 · 5 answers · asked by Tax retard 1 in United States

Last year I sold my home and made a profit and I'm now a full time student and hope to be until I graduate many years from now. Soon the income from selling my home will run out and I will be living off of student loans and grants. While growing up I always heard to save receipts for tax season. Do I really save ALL receipts or just tuition receipts or do I include book receipts or what? Is saving receipts no longer useful?

Please inform.
Thank you.

2007-02-21 06:59:15 · 4 answers · asked by melissa13182 3 in United States

I forgot to include some money I made when I did my taxes. They took out a lot of tax on what I made and I think I should get more money back. I believe the mistake would give me a bigger return if I fix it.

2007-02-21 06:49:18 · 12 answers · asked by Anonymous in Other - Taxes

My father claimed me this year as a dependent, yet this year I made all my own money, I paid him rent, and even gave him grocery money for me! I drove his car, but paid for ALL upkeep. (Including insurance) And he does not have a house payment. He told me since I have lived with him and I did not pay for the electrical bill and HIS expenses that I was his dependent. Is there some thing on the IRS's website that can show me if I am in the right or if he is in the right? I would like the extra $700 from my return, but I just want to be sure that he is not breaking the law.

2007-02-21 06:43:49 · 4 answers · asked by Brandon N 1 in United States

I hear commercials all day long re: tax Relief, if you owe the IRS a lot of money, but I am leary of being scammed. Anyone have experience (positive or negative) and knowledge about the topic?

2007-02-21 06:36:37 · 4 answers · asked by ericneunzig 1 in United States

i need to file my taxes what is a good program to use

2007-02-21 06:31:49 · 4 answers · asked by Anonymous in United States

Are there any reasons why would I NOT be eligible to get it? I'm a New York State Resident & am the Custodial Parent of my 10-year old daughter.

2007-02-21 06:31:39 · 2 answers · asked by napqueen 6 in United States

2007-02-21 06:21:13 · 5 answers · asked by greyhound 1 in United States

I went through a rough divorce my lawyer and my ex-wife lawyer's agreed that she should get all of the profit from the house being sold to pay for community debt. I did strongley not agree at all to this she only paid for her debt and she kept the rest of the house money and I didn't see any improvement of my debt under my name that she was suppose to pay too. I know if I claimed her and my underaged children I wold have to pay for the profit of the house that I did not see a penny of. My ? would be if I did not claim her or my children, would she by law suppose to pay for taxes on the house being sold? Drowning in debt that she created please help me my hands are tied.

2007-02-21 06:17:03 · 4 answers · asked by Just wondering... 2 in United States

I graudated from a 2 year collage useing federal lones in 2006. The College told me that because i regestered for class' in November i would not get any tax information this year. I was told by a few people that I would get Tax inforamtion and get a large tax break. Is this True?

2007-02-21 05:51:58 · 16 answers · asked by coyotetala 2 in United States