Taxes - February 2007

2007-02-20 07:20:43 · 1 answers · asked by Jim 2 in United States

Last year I claimed myself as a dependant both on my W-4 and my tax return. This year Im not claiming myself. Does it make sense not to claim myself or am I just setting myself up for a huge increase in the amount of tax dollars the government pulls from my pay every week?

I need to know what works best to increase what I bring home each week.

2007-02-20 07:09:46 · 6 answers · asked by tjsnfrd 3 in United States

I never filed to recieve what my employer had taken out (1040EZ) to get money back. I think I may make enough this year to have to file in 08, but I wonder if I can get money back for the last 6 years.

2007-02-20 06:46:30 · 4 answers · asked by Anonymous in United States

another category of taxes? thanx.:| i sold some stocks last year (2006) and will declare it as a loss when filing my 2006 taxes this year(2007).

2007-02-20 06:28:37 · 10 answers · asked by kisskls123 1 in United States

I just got a check in the mail from the United States Treasury for $324.00 and on it it says "Fresno Tax Refund" What is this??

2007-02-20 06:21:34 · 3 answers · asked by Karin 2 in United States

Should Gordon Brown levy a windfall tax on the banks in view of their vast profits? Should he include other businesses? What should be the threshhold? What should be done with the revenue generated?

2007-02-20 06:17:06 · 3 answers · asked by Duffer 6 in Other - Taxes

Hi. In 2005 I filed $10000 dollars worth of tuition expense but I could only deduct $2000. This year (2006), can I claim $8000 worth to try to get another education credit this year since I was not able to fully benefit from my tuition expense?

2007-02-20 06:12:31 · 4 answers · asked by Moomoo 2 in United States

I didn't file taxes in 2004 or 2005. I just thought I didnt make that much so whatever. Didnt realize that I get $$ for my daughter, etc. I am wondering if for 2004 & 2005 they have to be mailed in or if there is someway to efile those. Also wondering (I know they say it can take up to 90 to process returns) how soon it could be processed when paper returns are mailed in. I know w/ state that was efiled i had the check in less than a week and they said it could take 21 days. Any info would help, i need to get car fixed!! thanks!

2007-02-20 06:07:39 · 4 answers · asked by Anonymous in United States

I elected to receive my pension at 55 . is my pension taxeble , meaning do i have to pay taxes on it.

2007-02-20 06:02:56 · 4 answers · asked by adam b 2 in United States

how long do you have to wait before you claim your child?

2007-02-20 06:02:18 · 12 answers · asked by mynhi 1 in United States

I had a bundle route for our local newspaper.They did not take out taxes and i'm not sure since i'm single and they did give me the 1099 form if i have to file taxes since i done some research and found that i'm under the requirement of gross income(I think it was 7700.00 or something like that).....Any opinions ??Help !!

2007-02-20 06:00:45 · 7 answers · asked by hotrod_shell 1 in United States

As it's unfair that the rest of us have to pay through the nose if he gets off scott free.

2007-02-20 05:56:09 · 14 answers · asked by Andy H 2 in Other - Taxes

Owe Fed Taxes - would like to settle for smaller amount. Not sure if we can - do it on our own or use one of these companies I see advertised (settle for pennies on the dollar). Any info/advice would be appreciated!

2007-02-20 05:45:35 · 1 answers · asked by Suzanne 3 in United States

I recently filed my tax return and noticed the Date of Birth is incorrect for one of my dependent, does this mean I need to file an amendment?

2007-02-20 05:24:08 · 16 answers · asked by Anonymous in United States

Sue has residence with adjusted basis of $200,000 and a FMV of $150,000; later sue decide to convert the resident into a rental property; once year, later taking the depreciation of $15,000, she is considering selling the property. Determine the results if she sell the property for $130,000. or $165,000

if the property selling for $130,000:
to me i think the answer is: $200,000 - $15,000 = 185,000 adjusted basis
130,000 - 185,000 = -55,000 realize loss which can deduct against taxable income;

if the property selling for $165,000:
same basis $185,000, $165,000 - $185,000 = - $20,000 recognize loss against taxable income

is the above correct? please correct me if i am wrong; and also when you convert a home resident to a rental property is there anything particular need to becareful with?

2007-02-20 05:10:07 · 2 answers · asked by Anonymous in United States

I work for a small firm. Every year they give me a W2 as well as a 1099. The 1099 is only for $4800, which is a lot less than the W2. Nevertheless, is this legal for the firm? If so, can I take advantage of the 1099 I am receiving and call myself self employed to deduct legitimate home office expenses? Could I also set up an SEP plan? I already have a SIMPLE IRA at work.

2007-02-20 05:07:49 · 8 answers · asked by David F. 2 in United States

Was it me or has anyone else had there income tax check snatched away by creditors....

It really hurts, that was money spent
I'm talkin like $2400,,,,damn

2007-02-20 05:01:20 · 9 answers · asked by Storm 2 in United States

Using turbotax, but can't find out this info. Please help.

2007-02-20 04:42:22 · 2 answers · asked by Anonymous in United States

Does the IRS have the technology to flag your return based on the absence of previous returns?

2007-02-20 04:33:52 · 6 answers · asked by Anonymous in United States

It is a Delaware based Company operating in California.
I tried B$D and hoovers . I Tried to get in touch with people from this company but invain. please help its urgent

2007-02-20 04:22:47 · 1 answers · asked by faryal k 1 in United States

My partner is currently in receipt of WFTC and is trying to claim maintenance payments from her ex-husband towards her two children who live with her. He occaisionally pays a pitence to her but she is worried about involving the CSA because he has made threats that he will get her WFTC taken away because he states that I am living there and suppporting her financially. Whilst I do stay there quite regularly, I have my own house and which is where I live.

Very occaisionally I will help out by buying food or pay for going out, but there is no formal financial support that I am providing.

It all seems pretty cut and dried to me, and I would have thought that she had nothing to worry about from these idol threats, however, she is concerned and it's preventing her from taking the matter further.

Could someone please advise on what the situation is, or where I could clarify whether my being there hampers her cause.

2007-02-20 04:14:42 · 7 answers · asked by Manuel Aringarosa 2 in United Kingdom

i was talking to a guy and he said that there is some federal law. something like because he was in college he did not have to pay income tax

2007-02-20 04:14:19 · 4 answers · asked by guitarbuttmunch88 1 in United States

how do i claim mother on my income tax if all she recieves is disability from SS. i pay all the bills her and mine so i would say that she is dependent of me ... so does that mean she is my dependent... and can do this without any trouble ...I'm working two jobs, go to school part time , and recieve financial aid

2007-02-20 04:14:01 · 3 answers · asked by Raven 1 in United States

My question has to do with filing a joint return with W-2s from Virginia (with state income tax) and Texas (No state income tax). I moved and worked in Texas from June 2006 until December 2006 while my husband and children remained in Virginia. I normally use Turbo Tax to file our taxes. So would I just create a federal return listing all work and income from both states and then just file the Virginia State Income Tax with only income earned for within the state of Virginia for 2006? Right?

2007-02-20 04:10:27 · 4 answers · asked by lremmell64 4 in United States

2007-02-20 04:01:17 · 1 answers · asked by jhon 1 in Other - Taxes

My husband's wages are being garnished for defaulted school loans. We filed jointly, can they do both: keep our federal tax return, garnish his wages? They have already kept our state return.

2007-02-20 03:55:08 · 11 answers · asked by globalme 1 in United States

mother had to pay around 10,000 in fees and extra taxes because he screwed up on my moms taxes yet continues to raise his voice and blamed both of us. When we went to a different agency (H R block) they helped us out and told us that we are going to have to pay another 8000 because of our old CPA guy. Is there any way I can sue this S.O.B. or have things straightened out?

2007-02-20 03:53:52 · 1 answers · asked by John R 2 in United States

I have w-2's from both states.

2007-02-20 03:53:47 · 5 answers · asked by kymedley 2 in United States

My mom told me she has not filed her Individual tax return (form 1040) for 2003, 2004 or 2005. I looked at her information and each year reflects a refund. Should she file and send each one separately or should she file them in one package? Also, will she get the refunds even though it's been so long?

2007-02-20 03:48:30 · 5 answers · asked by Curious Linda 1 in United States

Any tax pro. out there knows that if you are on the eternal hold of the IRS, there are 3 (i think) classical songs that play....can they get new music?

2007-02-20 03:45:58 · 3 answers · asked by Wood Smoke ~ Free2Bme! 6 in United States