Taxes - February 2007

2007-02-21 03:42:26 · 9 answers · asked by Nick 2 in United Kingdom

what should my net pay be???

2007-02-21 03:39:33 · 12 answers · asked by Scots lass 2 in United Kingdom

if so, how come? since our country is so rich, how come we are paying taxes?

2007-02-21 03:23:21 · 20 answers · asked by Essie 6 in Other - Taxes

When I started my current job, I claimed one exemption on my W-4. I just learned that I could claim zero and more money would be withheld, resulting in a big tax return. (I have to admit, I get a high from a big tax return and am willing to scrimp a little extra to achieve this).

What I want to know is this: Is there a way I can find out how much my paycheck will change before I actually make the change? I work for a big company and HR is unlikely to be helpful enough to figure it out for me.

2007-02-21 03:20:16 · 2 answers · asked by Anonymous in United States

I made $1148 in self employed income last year, but when I am filing my taxes online, it says I don't owe any state tax. What's up with that?

2007-02-21 03:02:07 · 4 answers · asked by jasoncr126@sbcglobal.net 1 in United States

2007-02-21 02:53:01 · 6 answers · asked by Dee 1 in United States

Do I have to report and income.

My state ins New Jersey!

Please dont answer if you don't know all I need is to be thrown into prison by the IRS.

2007-02-21 02:47:56 · 3 answers · asked by Anonymous in United States

I want to file my taxes this year but im afrid of what might happen to me because its been such a long time since i've done it. i'm 23 and a fool, i just want to get back on the right track and do what i have to do to get myself out of this hole.

2007-02-21 02:47:54 · 8 answers · asked by Joseph R 1 in United States

I requested paper check, as well, not direct deposit.

2007-02-21 02:47:19 · 5 answers · asked by Anonymous in United States

2007-02-21 02:35:16 · 6 answers · asked by parthu m 1 in Switzerland

We were married in October 2006. My husband graduated from law school in May and had virtually no income for 2006. My income was around 35,000. He just informed me that he did not file his 2005 taxes, though he believes the government owed him money. I don't know if it is wiser to file together this year to potentially increase the amount of our refund, or if it is in my best interest to file separately since he failed to file taxes the previous year. Any advice would be greatly appreciated!

2007-02-21 02:35:11 · 8 answers · asked by mmgam0i0 1 in United States

2007-02-21 02:29:51 · 5 answers · asked by c.hill34 2 in United States

2007-02-21 02:26:46 · 5 answers · asked by stan billyjo 1 in United Kingdom

I bought stock in a company in 2000. The company went bankrupt in 2001. I still have the stock in my brokerage account. Can I still claim capital loss on those shares in this year's tax return?

2007-02-21 02:23:41 · 5 answers · asked by Codewzrd 1 in United States

2007-02-21 02:22:17 · 14 answers · asked by elessar221 1 in Other - Taxes

refund. i accendently forgot to enter my wifes w2. can i cash the checks i already got and worry about fixing next year. or do i shread the checks i got and amend the return?

2007-02-21 02:10:16 · 5 answers · asked by budnagy 1 in United States

Last year, my husband and I filed injured spouse because he owes for student loans and he owed child support. So he didn't get a refund, but I did. It took over three months to get our return back. I don't know too much about income taxes. A co-worker said we should do married filing separately. I just don't know the difference between injured spouse and married filing separately.

2007-02-21 01:54:31 · 5 answers · asked by Erica L 1 in United States

what are the differences between the forms?

2007-02-21 01:33:44 · 4 answers · asked by Anonymous in United States

2007-02-21 01:13:56 · 4 answers · asked by Aaron C 1 in United States

Okay, this might be a little confusing.

My husband is a Truck Driver (Owner-Operator). He has been told that since he gets 1099-misc forms for taxes at the end of the year that he doesn't have to pay taxes on the full amount of his income - only on the part left over each month after household (rent, utilities, etc...) are paid.

Is this true? We live in the state of VA. If this is true, how do I claim this on our federal/state taxes... what forms do I use?

2007-02-21 01:10:19 · 4 answers · asked by Sarah 1 in United States

I understand that if the owner lives in a four family house, 25% of the interest is shown as a deduction on Schedule A and 75% is shown as an expense on Schedule E.

However, exactly how does this benefit the owner? Lets assume the owner paid $500 over the course of the year in taxes and paid $100 in mortgage insurance.

Thanks!!

2007-02-21 01:08:22 · 2 answers · asked by J Silva 1 in United States

My husband and I are still married. However, I'm staying with my mom while he remains in our home. We don't want to do a legal separation because we are in the process of working it out. So, do we file head of household?

2007-02-21 00:53:10 · 7 answers · asked by mrsoliver727 1 in United States

2007-02-21 00:44:29 · 2 answers · asked by joyce r 1 in United States

In the States, how much is the Tax Break if I get married without children?

2007-02-21 00:37:22 · 3 answers · asked by AviTech 3 in United States

My wife is a teacher in NJ and has stopped working and did not receive a paycheck in 2006. She received a W2 from her work with zero dollars and the retirement plan box checked. This cannot be efiled. Do we need to file it?

2007-02-20 23:43:03 · 4 answers · asked by ryrat1 1 in United States

Bernie and Pam are a young married couple beginning careers and establishing a household. They will each make about $50,000 next year and will have accumulated $40,000 to invest. They now rent an apartment but are considering purchasing a condo. for $100,000. If they do a down payment of $10,000 will be required. They have discussed their situation with Lew McCarthy, an investment advisor, and he has recommended the following investments: * The condo-expected annual increase in market value=5% * Municipal bonds- expected annual yield=5% *High-yield corporate stocks-expected dividend yield=8% * Savings account in a commercial bank-expected yield=3% * High-growth common stocks-expected annual increase in market value=10%; expected dividend yield=0. (1) Calculate the after tax yields on the foregoing investments, assuming they hae 28% marginal tax rate. (2) How would you recommend they invest their $40,000? Explain
Show all work for each assignment and explain each step

2007-02-20 23:40:24 · 6 answers · asked by Anonymous in Other - Taxes

Hi, Does anyone know what the reference code 1301 means? I have been checking the IRS website and it was telling me that my return was being processed and I should receieve it my refund by 2/20. Well today is 2/21, and still no refund! So anyway, I cheked my status again this morning and it finally changed but it changed to "Your return is still be processed..." with a reference code of 1301. I called the IRS and they said that they aren't showing any errors, and that they couldn't give me a specific date I would receive it. She just said that I should have it within 6 weeks!! : ( Anyone else know what is going on or what code 1301 means?

2007-02-20 23:37:22 · 5 answers · asked by Anonymous in United States

what will happen?

2007-02-20 23:21:42 · 4 answers · asked by budnagy 1 in United States

2007-02-20 22:54:45 · 5 answers · asked by Aaron C 1 in United States

So my husband's bank rejected the IRS' EFT that was supposed to go through last Friday because my husband and I have diffferent last names, and somehow they put his first and middle names on the refund and my last name (dont know how that's possible) but at any rate, the bank rejected the eft. What is my next course of action, will the IRS change the name on the EFT and send it again? If not how long will it take to get a paper check?

2007-02-20 22:53:52 · 3 answers · asked by Ruthie 1 in United States