Taxes - February 2007

2007-02-18 07:37:18 · 9 answers · asked by karatemike2002 1 in United States

Hi. I was called for one day of jury duty. I remember seeing the pay stub in my papers but now can't find it. It was less than 25 dollars. Do I have to include this money on my income tax? I am self-employed so does jury duty go under the 1099 misc section? Do I just add 25 dollars since I can't remember the amount?

2007-02-18 07:32:01 · 2 answers · asked by Emma S 2 in United States

The business had published 1 book a year every year. Has not published in 4 years. New owner (me) has maintained S corp status, filed returns, (0 profit 0 expenses) but not published books yet. This year i wish to claim expenses for travel to trade shows and business equipment but I don't know if I meet definition of start-up since co existed for 20 plus years. I expect to start selling product in 1-2 years. Sole proprieter, small biz, international book publisher.

2007-02-18 07:30:47 · 1 answers · asked by luv books 3 in United States

My wife & I have made a number of improvements to our home in 2006. New roof, new deck, new windows & doors. Are we able to deduct the costs from our 2006 tax return?

2007-02-18 07:27:00 · 4 answers · asked by jrhbear 1 in United States

I can't find an answer for this anywhere. Do I have to report my federal refund from last year as income on my taxes? I know I have to report my state refund, but I can't find anything about my federal.

2007-02-18 07:08:23 · 4 answers · asked by URwhatUread 2 in United States

2007-02-18 06:56:00 · 5 answers · asked by misterluvaman 2 in United States

We cannot do efile because everytime our tax agent goes to file our taxes it comes up that someone has claimed the 4 kids. Each year we have to send the kids report cards and any medical papers we have showing that we have had sole custody and care for these kids. Is this our only recourse? The irs has been informed, they are the ones who told us to send the kids papers, but this hasnt stopped the problem. She hasnt seen these kids in years, I believe is on welfare with atleast 3 other children, how can she or possibly even her and her mother continue to do this?

2007-02-18 06:51:54 · 9 answers · asked by Honey 2 in United States

I was on tempory assignment with my job for 12 months and I needed someone to take care of my house and two cats while I was gone. Mowing the lawn, feeding the cats, and generally watching over things.... I paid a friend $200/month for this help. I think I should be able to deduct this amount... I think anyway...

2007-02-18 06:47:02 · 2 answers · asked by dog_pile_1 1 in United States

My hubby and I are building a new home this year. We are paying for our closing cost at the time of closing. We also have a capital loss carryover ($2500)and some medical deductions($3350 or the limit) by the end of the year we will also have our intrest and closing cost that we can deduct. We claim 4 for withholdings but should we cange it to 5 for the rest of the year since we know we will have so many deductions and then change bak to 4 begining of next year? We dont really care about getting a hugh refund every year, this year we got 4600 back and only had the capital loss carryover. Would it be that much of a difference on his paycheck each week and on the refund next year?

2007-02-18 06:30:50 · 2 answers · asked by BELLABELLA 2 in United States

We had a new roof put on in 2006 - 40 year Owens Corning shingles. I see that metal roofs qualify, but wasn't sure if a regular roof would qualify as being an improvement to insulation.

2007-02-18 06:16:20 · 2 answers · asked by IrisInLove 2 in Other - Taxes

Earlier this year I cashed in a mutual fund that was a custodial account that my grandparents set up for me so I could buy a house. In February the account was transferred over to my name (from my grandparents AND my name) and was worth about $40k which was all put into the down payment for a house. Considering this was a gift that was compiled over time, do I have to pay taxes on it?

2007-02-18 06:10:17 · 5 answers · asked by Anonymous in United States

I have a friend who is buying a house from an elderly lady.
He will pay a little over what she owes on it (750K)
What are her tax consequences?

2007-02-18 05:42:35 · 2 answers · asked by artguy90291 2 in United States

I have student loans that I use for tuition, book, school supplies, housing, and everything else it takes to live. Is there a place I have to claim these loans?

Even though I am using mostly loan money to pay for my tuition do I still qualify for the South Carolina state tuition tax credit?

Thanks

2007-02-18 05:39:38 · 3 answers · asked by zekbone 1 in United States

I worked at a company for 2 months before leaving for a better job. I haven't received a W-2 from them yet, but they've been giving me excuses about not needing one from them.

2007-02-18 05:39:21 · 3 answers · asked by wc3_blair 1 in United States

Previously, i was working for the company in New york up to Dec 05, but I was sent to the UK at the beginning of Jan 06,When i bought the house in Nov 06 in new york, I was working for the London UK branch of the company and on a UK payroll, therefore I never got my W2. Do I have to file my taxes, and if so how? Will I have to pay US taxes as I already pay UK taxes. P.s. Whats the deadline to file taxes for dec 06?

2007-02-18 05:38:09 · 4 answers · asked by SQ 1 in United States

if i win a lotto in the amount of $3800. how much taxes will i have to pay when i file my taxes?

2007-02-18 05:37:29 · 4 answers · asked by Anonymous in Other - Taxes

My sister's ex boyfriend hasn't lived with her or her son since befor he was born. He hasn't paid court ordered support either.
Recently, my mother (who has been caring for both my sister and the child) went to get her taxes done and was told that YES she could file that the child is her dependant. She did and she was notified that someone already has.

The child is 6 1/2 months old and has been living with her the entire time.

What are the Legal ramifications if any.

I'm noticing now that this happens ALOT...BUT from what the tax preparer told my mother, this is blatant disregard of the law...

2007-02-18 05:34:27 · 4 answers · asked by Anonymous in United States

2007-02-18 05:34:25 · 4 answers · asked by Anonymous in Canada

can I take these deductions if she agrees? Her only income for 06 was my alimony.

2007-02-18 05:01:49 · 3 answers · asked by Livin' in NH 1 in United States

Were can I find the simple rules for dealing with Capital Loss Carryovers. I have a loss carryover from last year and some short term losses from this year that exceed $3000. What is the arithmetic for frigurin the NEW loss carryover to 2007?

2007-02-18 04:43:25 · 4 answers · asked by jer 1 in United States

My son made 10,777 last year as a graduate student. He paid in 1002.00 in federal income tax. He did get tax credit for Lifetime Learning Credit, but Turbo Tax also figured in 103.00 in Earned Income Credit because he fell within the guidelines. According to Turbotax, he's entitled to a refund of 1,024.00 even though he only paid in 1002.00

2007-02-18 04:34:18 · 5 answers · asked by coupe 2 in United States

Can a big purchase item such as a car or a boat, or the interest paid on the loan used to purchase it, be used as a tax deduction?

2007-02-18 04:33:57 · 8 answers · asked by Sunshine1 3 in United States

the home is not in our name.

2007-02-18 04:19:01 · 2 answers · asked by Mary F 1 in United States

Answer can be given as annual or monthly figure. Thanks.

2007-02-18 04:13:09 · 11 answers · asked by danspokes 1 in United Kingdom

2007-02-18 04:09:57 · 3 answers · asked by rakie 1 in Australia

I lost my W-2 from my former job 4 or 5 years ago. I didn't get to file it. If I get my W-2, can I file it for this year or whenever I get it? And how do I get a copy or of my W-2 from my former job. The thing is I don't remember where I used to work. What should I do?

2007-02-18 03:54:47 · 2 answers · asked by CuRiOuS MeeH 1 in Other - Taxes

2007-02-18 03:53:43 · 7 answers · asked by NIKKICAT 1 in United States

Okay for this year I filled out 0 and am also having $10.00 taken out this was told to me by a CPA and that is what she tells her kids to do. I am 30 and single and I have also been told to take as much as 3 on the sheet?!
Can someone please tell me what they think is best for me in 06 I did 2 and 1 on state....

Thanks!!

2007-02-18 03:46:14 · 2 answers · asked by Anonymous in United States

Should I invest in a ~6 month CD or other plan to maximize profits? I make ~90K. Should I put away around 40% of the money I earn? What are my options?

2007-02-18 03:38:58 · 3 answers · asked by Scotty 3 in United States

2007-02-18 03:26:28 · 5 answers · asked by Thomas G 2 in United States