Taxes - February 2007

2007-02-28 05:42:53 · 14 answers · asked by Anonymous in United Kingdom

2007-02-28 05:41:22 · 3 answers · asked by hurtgirl 1 in United States

What will the tax be if I win a contest where they pay $100,000 as a lump sum in the first year and $36,000 each year for the next 25 yrs (assuming I live that long) and will the tax be owed in the first year or during each year a payment is made to me? The details of the contest are here ... http://milliondollar.cnbc.com/

2007-02-28 05:29:55 · 5 answers · asked by C J 1 in United States

Ok..so I've developed a product that I plan to sell online only, no brick and mortar. From what I've read at the comptroller site I would be required to tax only the sales to fellow residents in my state.
1. So.....to avoid the paperwork and hassle, can't I just refuse to ship/service my states online customer?
I hate doing that, but I haven't even had a test run of my product yet, and really don't want to file for a tax# right now.
I could easily sell on ebay and not worry about it, but I think ebay is greedy based on what they charge for their stores, listing fees, final value fees, etc..
2. How would the state even know I exist if I'm not a corporation, and I don't have a DBA? I know I can be found on the WHOIS listing for the domain registration, but..that can be hidden too...for a fee! :)
3. Is there a way to set up a shopping cart that would automatically refuse a certain states order?

2007-02-28 05:29:08 · 4 answers · asked by Anonymous in United States

I am filing my return as married filling jointly,and gonna have standard deduction, I earned $395 by babysitting my neighbour's child, my wife also earned $397 by babysitting my another neighbours child. since we are married filling jointly and the total from babysitting income from both of us is $ 792,
Do we have to file schedule C or schedule C-EZ or schedule SE?

Also if we do not have to file schedule C or schedule C-EZ or schedule SE then where can we report $792 babysitting income on Form 1040?
any help appreciated.

2007-02-28 05:21:28 · 4 answers · asked by Anonymous in United States

2007-02-28 05:00:33 · 6 answers · asked by mmilner_24 3 in United States

i want to find out whats going on with my taxes

2007-02-28 04:41:21 · 3 answers · asked by latashia j 1 in United States

My job mailed off my w2 form to the wrong address now the company has been sold. Is there a site that i can go to that has landry's or joe's crabshack on it to be able to pull up my w2 form?

2007-02-28 04:17:30 · 3 answers · asked by TASHA T 1 in United States

i have made some contributions outside the country. but i do not have reciepts for it. can i deduct it on my return. also, what if i somehow do get the reciept , can i deduct it in that case.

2007-02-28 04:14:41 · 6 answers · asked by ABC 1 in United States

i went to hr block Jan 19, 2007. i filed my taxes electronic,hr block said that the Irs has accepted my refund.so hr block told me to call the Irs.The Irs said that my refund will be delayed.The Irs said that they have to make sure that i don't owe anyone,which i don't.When i called them today,Irs said that they could not tell me anything else because they do not have my refund,and so i called back hr block today and they do not have it.i have checked the IRS website.Nothing,so please i need some serious advice.What should i do?

2007-02-28 04:06:21 · 5 answers · asked by roll tide 3 in United States

I am a full time student. In 2006 I worked a work-study job, I made 1054 $ in entire year. My state tax withheld was 41$ and Fedral tax withheld was 3$. Do I need to file Tax return?

2007-02-28 03:54:55 · 3 answers · asked by Just livin my life 2 in United States

The property is a second property & in both mine & my wifes name. We would like to claim back the building costs to offset capital gains tax. Can we claim 100% of building costs and would we liable to tax on the share of the property that we retain. Should our names be on the deeds as joint owners?

2007-02-28 03:45:34 · 5 answers · asked by TonyT 1 in United Kingdom

this is part of a question that someone else posted up a month ago:

"I filed with HR block on 1/25/07 and did the same day return, I received some money that day and was suppose to receive the rest the next day. But there was an offset for $400 (not for the IRS), so does anyone know about how long it will take for me to receive the rest of my money after they take the $400 out?"

what does that mean?

2007-02-28 03:44:13 · 2 answers · asked by tom l 3 in United States

can anyone give me an estimate on how much they'll charge me?

I have w-2, several 1099-int, 1099-div and 1099-B for stocks and mutual funds sales.

2007-02-28 03:36:03 · 4 answers · asked by jean 4 in United States

Is it possible to get disability while on retirement? My father in-law is a retired man although he does still work. He is having many health problems right now and we are unable to find any type of help. Medicare and welfare will not cover him since they go by the amount of income and do not take into consideration how much him and his wife have to pay out! He has heart problems so finding affordable coverage is damn near impossible. Does anybody know of anything we can do?! We live in the state of Pennsylvania, so if you know of any medical help please let me know!!! Also I need to know if someone knows for certain whether or not he can file for disability since he is getting ssi on retirement!

2007-02-28 03:25:04 · 3 answers · asked by sparkles 4 in United States

People used to have to pay their taxes directly. Nowadays (and for the last 50+years?) a huge part of the population has their taxes taken from them, by their employers, and the government gives SOME back making it feel like a reward. Dont you think this makes people apathetic about government.
Does anyone agree we should go back to paying directly and FEELING the real pain of taxation.

Wouldnt taxes go DOWN?

2007-02-28 03:23:40 · 7 answers · asked by kent j 3 in Other - Taxes

I have just realised my payroll department have administered my pension incorrectly. I have now found that I will have a tax bill this year in the region of £420.00 they have been paying the wrong amounts monthly to my pension provider - different to what has been deducted from my payslip and my employers contributions are incorrect. I questioned it in March and they say we can meet next week to discuss? They also confirm to me that their control accounts have not balanced for several months - it must be since 2005 at least - whay is it only mean that is concerned????????

2007-02-28 03:12:28 · 5 answers · asked by adam 2 in United Kingdom

I know you can earn a certain amount, after that you have to pay tax.

2007-02-28 03:01:49 · 13 answers · asked by emnie 2 in United Kingdom

CLEAR EXPLANATION OF TAX CUTS

Sometimes politicians, journalists and others exclaim; "It's just a tax
cut for the rich!" and it is just accepted to be fact, without questioning it.
But what does that really mean?

Just in case you are not completely clear and/or do not understand this
issue, the following should help, if you are a reasonable person.

Let's put tax cuts in terms everyone can understand.

Suppose that every day, ten men go out for beer and the bill for all ten
comes to $100.

If they paid their bill the way we pay our taxes, it would go something
like this:

The first four men (the poorest) would pay nothing.
The fifth would pay $1...
The sixth would pay $3...
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
So, that's what they decided to do.
The ten men drank in the bar every day and seemed quite happy
with the arrangement, until one day, the owner threw them a curve.
"Since you are all such good customers," he said, "I'm going to reduce the cost of your daily beer by $20."Drinks for the ten of you now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the
first four men were unaffected. They would still drink for free. But what
about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?'

They realized that $20 divided by six is $3.33. But if they subtracted that
from everybody's share, then the fifth man and the sixth man would each BR end up bei ng paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each
man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued
to drink for free. But once outside the restaurant, the men began to compare their savings.

"I only got a dollar out of the $20," declared the sixth man. He pointed to the tenth man," but he got $10!"

"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar,
too.
It's unfair that he got ten times more than I!"

"That's true!!" shouted the seventh man. "Why should he get $10 back when I got only two? The wealthy get all the breaks!"

"Wait a minute," yelled the first four men in unison. "We didn't get
anything at all. The system exploits the poor!"

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn't show up for drinks, so the nine sat
down and had beers without him. But when it came time to pay the bill,
they discovered something important. They didn't have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our
tax system works. The people who pay the highest taxes get the most
benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking somewhere else where the atmosphere is friendlier.

David R. Kamerschen, PhD
Professor of Economics
University of Georgia
CLEAR EXPLANATION OF TAX CUTS

2007-02-28 02:33:23 · 5 answers · asked by Derrick 3 in United States

Instead of paying per payheck, you could take the money out of your paycheck yourself and then put the money in an interest bearing account. When it comes time to pay, you just pay out of that account on April 15. At least you'd have made interest on the money instead of having the IRS take it out each paycheck. For some reason, the IRS forbids this. Wouldn't it be better to let us invest the money instead of giving the Gov't an interest free loan?

2007-02-28 02:31:21 · 10 answers · asked by trer 3 in United States

My company was acquired by another company in 2006. As part of the acquisition, I received payments for stock I owned. I was expecting to see some sort of 1099 form which would show the income from the stock purchase. I took a loss on this, so I want to be able to report this income, along with the loss, on my taxes. I thought the deadline for mailing out 1099s was Feb. 28- is this right? Also, is the company required to provide me a 1099 for the stock sale? If they do not, how do I report this income/loss on my taxes?

Thanks in advance for your help!

2007-02-28 02:30:10 · 4 answers · asked by Just Me 2 in United States

i live in alabama and i wasnt sure where i send my return to?

2007-02-28 02:26:01 · 5 answers · asked by Jes 2 in United States

We seem to pay taxes for everything. Income tax, national insurance, VAT, local community tax, road tax, utility bills, tv license. It seems we just work to pay tax. Any other countries got more tax demands than us?

2007-02-28 02:25:44 · 14 answers · asked by whitestar_38 1 in United Kingdom

Last year I received back all of the money that was withheld for taxes from my job. Can I claim exemption this year. I have never had to pay taxes and this year should be the same but I am nervous about it . Can someone explain it to me and let me know if I am eligible?

2007-02-28 02:18:52 · 3 answers · asked by Reinna M 1 in United States

2007-02-28 02:17:32 · 2 answers · asked by Anonymous in United Kingdom

am very entrested to find out thank you very much

2007-02-28 02:12:28 · 6 answers · asked by Anonymous in United States

2007-02-28 02:07:48 · 7 answers · asked by Anonymous in United Kingdom

i once recieved social security for my son but now he is'nt in school and i don't get it for him no more but they paid me for a extra month and now i owe them for that month. can they take that from my ny state tax refund?

2007-02-28 01:43:35 · 7 answers · asked by jmpoct03 1 in United States

why haven't I gotten it?

2007-02-28 01:32:42 · 4 answers · asked by Crystal M 1 in United States

2007-02-28 01:25:14 · 2 answers · asked by GUS 4 in United States