Taxes - February 2007

2007-02-18 11:28:02 · 7 answers · asked by Mike G 1 in United States

I e-filed on internet last year and I lost copy. Tried to revisit site but no luck.

2007-02-18 11:21:32 · 5 answers · asked by James M 1 in United States

My mother and brother are both disabled they get SS and are both on Medicare disability. My mother is physically disabled and my brother is mentally disabled. They live together but I have paid more than half of their living expenses since my step father died in 2005. Can I claim them even though they live in a different household, will me claiming them effect their SS and Medicare disability. Thank you.

2007-02-18 11:17:43 · 7 answers · asked by independentwoman26 1 in United States

I own a home in NC and have no debt against my primary residence. I would like to purchase a second home in SC. The cost of the home will run about $500,000. I have cash for the purchase but I also understand that from an after-tax standpoint, I might benefit from having some debt against the house if I am able to deduct the interest expense. I want to know the maximum amount of debt I can take out and have the interest be deductible. I am also thinking about borrowing against my margin account to purcahse a more expensive house.
Please advise.

Please list where in the Internal Revenue Code Section your information comes from and also cite an court cases you reference to or use.

2007-02-18 11:15:54 · 4 answers · asked by mrtaxtips 2 in United States

I never filed my 2003, 2004, and 2005 tax return. I owed about $200 each for '03 and '04, and I think my refund for '05 would cover the previous 2 years' debt. I will have a large refund for '06. How do I handle this situation?

2007-02-18 10:57:39 · 5 answers · asked by FixMan686 1 in United States

2007-02-18 10:38:58 · 5 answers · asked by Buck175 1 in United States

I live in Orange County, California and just got offered a new job for $42,000/year. I looked up the IRS tax bracket and figured that I would pay about $7,058 annually in federal taxes (I am single with myself as a dependent, don't own any property or have any capital gains.)

I was wondering if anyone could tell what other taxes I would owe on the Federal/State/local level, and approximately how much I would be bringing home after tax per month.

2007-02-18 10:35:52 · 2 answers · asked by Anonymous in United States

I am going to be filing for bankruptcy, will i still be required to pay back the overpayments? If not, how will this affect any claim for tax credits in the future?

2007-02-18 10:31:07 · 4 answers · asked by Anonymous in United Kingdom

We pay the busboys,bartenders,hostesses,dishwashers,expos,and backwaiters 3.5% of our total sales every day. Some times it comes out to be $45 a shift. Is there anyway to claim this as a business expense. It comes right out of our tips for the day.

2007-02-18 10:25:36 · 4 answers · asked by Casey V 1 in United States

My husband is an auto racing spotter with, for 2006, two separate teams. He received the 2 separate 1099 Misc forms. I understand that he is considered by the IRS as having his own business, and he got these forms due to no W-2 being completed (as he is considered "part time, weekend" employment by the teams). I am doing our taxes on TurboTax, but not really wanting to mess it up before actually filing. I need to know if the income should show up in both the "Business income schedule C" and the "Income from Form 1099-Misc." spaces on the "your income Summary" page. When I only enter the amounts in "Income" and do not enter anything in "Sched. C" it shows a refund - - when entered in both sections, this changes to a MAJOR payment to the IRS. I understand no taxes were taken out of his paychecks, but I don't understand this huge difference of refund vs. federal payment owed?? Any help is appreciated!

2007-02-18 10:14:42 · 4 answers · asked by nicnacs30 2 in United States

My husband teaches fire and emergency training and as part of his job, he must be in shape. May his gym membership be written off as a business expense? For that matter, can anyone's be written off?

2007-02-18 10:07:07 · 4 answers · asked by slinky789 2 in United States

My husband's job reassigned us to another city and we were forced to use a storage unit until we were able to find a house. Can this expense be written off of our taxes? Please document your information source. Thanks!

2007-02-18 09:50:49 · 5 answers · asked by slinky789 2 in United States

I paid what was owed on the previous tax filing in 06. My question is, since this was paid with last years INCOME, can this be deducted from my 2006 taxes ???

2007-02-18 09:42:48 · 3 answers · asked by Razor 2 in United States

2007-02-18 09:31:15 · 3 answers · asked by SHALO 2 in United States

Does anyone know of a reliable source that donates cash or other valuables for a tax right off? Or even stock donors?

2007-02-18 09:28:53 · 2 answers · asked by Day Bull 1 in United States

My husband teaches night classes in surrounding cities and when he is on his way home (usually after 10 PM), he often picks up dinner. I would like to know if these expenses can be written off of my taxes. Please include advisement as to how you know this to be acceptable or not.

2007-02-18 09:26:15 · 6 answers · asked by slinky789 2 in United States

if they are please tell me which form should I use,thank you

2007-02-18 09:21:06 · 6 answers · asked by SHALO 2 in United States

i need info about taxes

2007-02-18 09:11:58 · 6 answers · asked by cire_x21x 1 in Other - Taxes

We got the very last number wrong when we were filling out our direct deposit for our federal Tax Refund. On the Irs page it says that the refund was direct deposited into our accound on Febuary 16th but when checking the account its not in there. Im pritty sure that they will send a paper check in the mail. But is there anyway to fix the problem so they can direct deposit it? in not how much longer do you think it will take to get the refund in the mail? thanks for any and all help!

2007-02-18 09:08:45 · 9 answers · asked by Yolanda S 1 in United States

Is this because we live in NY?

2007-02-18 09:06:25 · 6 answers · asked by AMK 1 in United States

mortgage company made an error on my interest. there is an additional 7000.00 dollars in interest paid. app how much does this relate to in return from irs. total net income is app 55000.00 dollars

2007-02-18 08:54:10 · 2 answers · asked by joel l 1 in United States

I am helping my friend to complete her tax return but I am having problem with the name written on her W2 and the name written on her Social Security Card.

The name registered on her Social Security Card is Tina Concepcion Augusto Martinez II
where: Tina Concepcion is her first name,
Augusto is her middle name,
Martinez is her last name,
and II is her suffix

Now her W2 states Tina A Martinez.

My question is what should be the right entry for the name I will put on her tax return.
a. Should I follow the W2 which is Tina A Martinez,
b. Or follow the W2 but put her suffix ... Tina A Martinez II,
c. Or follow the name on the Social Security Card... I am using Tax cut software ... so it only allows me to enter her name like this Tina Concepc A. Martinez II.

I hope someone can help me especially those who have experienced this kind of scenario.

Thanks,
newtaxlady

2007-02-18 08:48:25 · 6 answers · asked by newtaxlady 1 in United States

2007-02-18 08:39:47 · 2 answers · asked by Anonymous in United States

I've filed my taxes around Jan 15th and I've gotten an correspondent audit on my states but quickly fixed my states (wrong information). Now that I've got my states, I still haven't received my federal returns yet. The mistake i made on my states was that i put too much state credit on my 1040's (i did this on taxact.com). Do you think I made the same mistake on my federals but the IRS haven't sent my audit letter yet or something else?

2007-02-18 08:29:00 · 4 answers · asked by chris.porter 2 in United States

2007-02-18 08:20:27 · 7 answers · asked by Anonymous in United States

Thanks for stopping by, but please do not leave an answer unless you're knowledgable on this subject. Okay here goes.....How many dependents should you claim when you get hired if you make 100k per year and at the end of the year you would be claiming your two, your spouse and yourself. Also after you have children and you will be claiming them as well? I know in a lower tax bracket it's better to claim 0 and they take the most out of your paycheck per week and at the end of the year you claim your dependents and you get the most back at that time. In a higher tax bracket is that still the best way to go??? Also my spouse may be working too, and if so then this could affect the amount we actually earn per year in a positive way or a negative one?? This may seem pretty basic to other people, lol but it's confusing me greatly. Thanks for stopping by and helping!!

2007-02-18 08:15:20 · 4 answers · asked by curious 2 in United States

Hi. I am self-employed and in college and I need some help figuring out my business mileage this year. I teach in multiple locations, including my home, my sister's home, private homes, other teacher's studios, churches, on campus, in both public/private schools etc . . .

For 2006 though I got a graduate job on campus that is not part of my self-employment. The school issued me a regular w-2.

This is what I'm confused about. I usually left my job on campus twice a week and drove directly to a teaching gig(s) in another city about 80 miles away. Can I deduct this mileage as business mileage since I was not commuting from home but from another place of work--even though the work I do on campus is not self-employed?

2007-02-18 08:15:19 · 1 answers · asked by Emma S 2 in United States

I am currently 16 (17 on April 19). I was wondering how I am suppose to properly fill out my tax return for the 2006 year.

I am living with my father.
I make approximately 9,000 per year.
I work two jobs, Publix and Cracker Barrel.

Also, don't minors get a federal refund?

I believe the process for minors is rather simple but I would like to get it correct so I don't have the IRS tracking me down before I even turn 18!

Best Answer will be awarded to the person that answers the question thoroughly and completely.

2007-02-18 07:58:25 · 6 answers · asked by Sam G 2 in Other - Taxes

My daughter attends a 4K program at a local private school. I know I cannot claim private school tuition for K-12 grades but can I claim a 4K program?

2007-02-18 07:50:32 · 3 answers · asked by Anonymous in United States

I live in california, and i am currently a full time student (19 years old). I wanted to know if i have to claim taxes although i made only $8000. is there any minimum to claim taxes in California?

Any help will be appreciated.

2007-02-18 07:39:34 · 11 answers · asked by IsraeliPride 1 in United States