Taxes - February 2007

2007-02-20 22:28:20 · 1 answers · asked by LOUNDA 1 in Other - Taxes

When cashing in employer granted stock options, how is the tax liability figured? Is it a flat rate or based on your tax bracket? Please, use layman terms as I am not leagalise savy.

2007-02-20 20:48:09 · 2 answers · asked by Marine till Death 4 in United States

2007-02-20 20:47:03 · 4 answers · asked by MARY M 1 in United Kingdom

What are the criterias for reducing income tax ? What is a tax write-off ? Is my estimation that on $ 15,000. of declared income in Canada, I would have to pay around $ 2000 income tax ? I don't own a home yet, and live mostly in my truck when the weather is warm enough to save on rent and attempt to save toward a cabin.. Is there a way to be creative with one's taxes ? Besides personal criteria for tax exemption, how much can I donate to charity or to an individual doing charitable work ? Can I write off any percentage of what I would pay in income tax toward my 20 yr old son's college or univeristy education ? I am almost constantly driving and traveling when I do sales work.. Are there bills or receipts I am supposed to keep during the year that are helpful toward tax exemptions ? My commercial art business is not yet officially registered. To qualiify for tax exemption, is there an advantage to having your business registered or is it ta disadvantage ?

2007-02-20 20:41:57 · 1 answers · asked by Gaura 2 in Canada

I made under $24K between both jobs, am single, no dependants, but it seems like I will be owing taxes...what am I doing wrong?

2007-02-20 20:17:53 · 5 answers · asked by sparky_girl 1 in United States

I submitted wrong information. How can I correct those informations if I already e filed my taxes and it went through? I Didn't receive the money yet but I think within one week I will. How Can I correct it before I recieve the refund? Thanks for your help.

2007-02-20 18:55:41 · 6 answers · asked by Urgo S 1 in United States

2007-02-20 18:40:06 · 4 answers · asked by Nobuo I 1 in United States

Hi,
I harindar kumar gupta want know about current TDS rate of Person including individual,HUF, Partnership Firm, AOP,BOP, Company & other.

2007-02-20 18:34:29 · 5 answers · asked by hkg 2 in India

I Harindar Kumar Gupta want know about Deduction of Income tax under section 80 ccc to 80 u. I want know about other Deduction u/s 88 ,

Harindar Kumar Gupta
Noida-201301

2007-02-20 18:29:28 · 3 answers · asked by hkg 2 in India

For example, a teacher from The Phillipines who is not a US citizen comes during the school year and teaches high school algebra in Virginia, returning to their home country during the summer break. Does this teacher pay state and federal income tax?
Do any non US citizens who work in the US have to pay state and federal income tax?

2007-02-20 18:27:30 · 5 answers · asked by Anonymous in United States

I am not yet thirty but I just read that for tax purposes salary sacrificing into super is a good idea. Am I too young to take advantage of this? How does it work? Anyone?

2007-02-20 16:50:13 · 3 answers · asked by Livian 3 in Australia

this is my first time filing for taxes, and my dad told me I could have gotten a refund last year because i made so little money (less than 10,000) i'm filing this year but can i still have last years done or is it to late?

2007-02-20 16:42:47 · 6 answers · asked by y2quest 1 in United States

I owe money to a government student loan and they are already garnishing my wages and I just recieved notice today that they took my state refund can I anticipate them taking my federal tax return too?

2007-02-20 16:32:30 · 8 answers · asked by Jennifer D 1 in United States

2007-02-20 16:25:33 · 4 answers · asked by arundhati b 1 in United Kingdom

2007-02-20 16:20:09 · 5 answers · asked by savestheday205 1 in United States

I have my pay stubs as proof that they withheld 50 percent of my total income in my W2. Should I report them to the Department of Labor?

Please help!

2007-02-20 15:05:09 · 6 answers · asked by Anonymous in United States

2007-02-20 15:01:55 · 2 answers · asked by beckyfnewton 1 in Other - Taxes

A company that I formerly worked for sent me out my W-2 for last year, and when I went and got my taxes done, apparently it said that no state taxes were taken out, for MD or PA (where I live). I knew that was wrong, but I couldn't prove it so I just got my taxes done. (I left his company in a bad way because they are unethical.) I just found my last pay stub from last year that covered the time up until I left. It not only said that $700 in MD taxes were taken out for the year, it said I made $4,000 LESS than what was reported on my W-2. Now I have to go back to the tax place with this pay stub and show that taxes were really taken out and my income was wrong and refile or whatever it is I have to do. Will I get in trouble for tax fraud?

2007-02-20 14:22:18 · 2 answers · asked by Bachman-ette 4 in United States

My return was offset to a 5 year old student loan debt. Is there any way to get my return back? I had completely forgotten about this debt, and they have never offset my return before now. I am between jobs and have two kids. I really need that money right about now. Please help!

2007-02-20 14:12:16 · 4 answers · asked by Anonymous in Other - Taxes

2007-02-20 13:50:07 · 5 answers · asked by Tom C 1 in United States

2007-02-20 13:49:50 · 5 answers · asked by vinny_the_hack 5 in Canada

We do not own a home, we rent. We do own property and sold it. How do we know what to base the tax on. Can we take the value of the property and subtract that from the sale of the property and pay taxes on the difference?

2007-02-20 13:38:52 · 4 answers · asked by jerry 3 in United States

Then I found this. Can someone tell me what this refers too? See number 3. The website is
http://www.ador.state.al.us/incometax/1webreghold/810-03-015-20.htm
Thanks

810-3-15-.20 Federal Income Tax Deduction - Individuals.
(1) DEFINITIONS. For the purpose of this regulation, the following words, phrases and abbreviations have these meanings:
(a) FIT: Federal income tax. Deductible federal income tax includes:
1. Federal income tax withheld by employers during the taxable year.
2. Excess social security or Medicare tax (FICA) and railroad retirement tax (RRTA) withheld during the taxable year…
3. All federal income tax payments made during the year for liabilities of prior years, including the previous year's payment made when the previous year return was filed.
4. All federal income tax estimate payments made during the year….
5. Earned income credit of the previous year which was applied to the previous year's federal income tax liability.
6. Alternative Minimum Tax.

2007-02-20 13:32:56 · 8 answers · asked by t_williams_1 1 in United States

2007-02-20 13:24:55 · 14 answers · asked by chill 1 in United States

I received a 44 cent raise and work part time. I have not changed the number of dependants or anything. Why am I receiving a return that is considerably lower this year?!?!

2007-02-20 13:09:55 · 7 answers · asked by Cutie Pie 2 4 in United States

2007-02-20 12:51:54 · 1 answers · asked by zhel 1 in Other - Taxes

2007-02-20 12:45:16 · 4 answers · asked by Stigmeister 2 in Australia

2007-02-20 12:43:51 · 2 answers · asked by ga 1 in United States

My question has to do with whether or not I can claim my nephew as my dependent. It's a complicated situation.
My sister and my nephew lived with my dad in my dads house and my dad took care of both of them. My dad has custody of my nephew. They lived in my dads house up unil my dad and my sister started having problems with her boyfriend in which they all moved to my house. My nephew lived with me off and on during the summer of 2006 and from Sept-Dec. In Dec I bought my dad and nephew a new house and my sister has moved out back with her boyfriend. Since my dad has custody and he does not file taxes and my nephew did live with me for most of last year can I file him on my taxes? Is there anyway that we can know if my sister has filed him on her taxes before I file my taxes? I don't want to anything illegal and I also don't want to get audited. I mean who does? Any advice on this topic would be greatly appreciated. Thanks!

2007-02-20 11:33:04 · 5 answers · asked by Kathy 1 in United States

2007-02-20 11:28:30 · 7 answers · asked by mootsman 1 in United States