Taxes - February 2007

and what about books brought on amazon.com to help learn school subjects?

2007-02-18 03:25:55 · 3 answers · asked by groundbrandon 3 in Other - Taxes

I started renting out my personal house on Dec 15, 2006. Prior to this date I did some painting and bought some appliances. The IRS says if I rented my house less than 15 days I do not have to claim income. Can I deduct these expenses next year?

2007-02-18 03:20:22 · 2 answers · asked by Anonymous in United States

The services themselves cannot be deducted for a cash business, but can expenditures in performing the services be deducted?

2007-02-18 03:11:03 · 2 answers · asked by Stewart A 1 in United States

2007-02-18 03:09:27 · 3 answers · asked by woodsonhannon53 6 in Other - Taxes

2007-02-18 03:06:11 · 7 answers · asked by ChuckBoutwell 2 in United States

2007-02-18 03:03:58 · 5 answers · asked by globalme 1 in United States

if i buy a laptop for the office depot website online would i still have to pay taxes?
i live in michgian if that matters

2007-02-18 03:02:28 · 17 answers · asked by Anonymous in United States

2007-02-18 02:55:59 · 2 answers · asked by L a B 2 in United States

2007-02-18 02:15:01 · 3 answers · asked by Anonymous in United States

I am full time employed, and have a business which I do get payed for throughout the year. But my expenses exceed my income. (for the side business) Showing a loss, for the last 3 yrs. This business is the same field as my full time job. My side work is to keep me fresh in my industry. So I spend my own money earned from my full time job..SO, because I do have little income from my side work I need to report that. Yes, I do get 1099's. the loss is minimal, but still a loss..

2007-02-18 01:53:56 · 3 answers · asked by shortline1 1 in United States

2007-02-18 01:29:54 · 8 answers · asked by ron s 1 in United States

A company I owned stock in issued shares of stock in a company they held. I was given 23 shares of stock in in that company as a dividend instead of cash. How is this listed for tax purposes?

2007-02-18 00:34:56 · 7 answers · asked by Billyboy 1 in Other - Taxes

Ok so I know I just asked a question just a few moments ago asking if I should Itemize or standardize...and everyone says standardize. In the tax world what does "deduction" mean anyways?? Is that how much I would get back or how much the IRS gets from me?? because my standard is 5150 and my itemized is 28. So if I went with standard, I'd only get 28 bucks back?? Reason why I ask is because the 5150 is more than I've made all year, its way more than my income of 2000.

How I make that little is I work a job thats 5.15 an hour, have no car, no house payements since I live with my mom and am attending college. (Nope can't claim college expenses since its all through finacial aid.)

2007-02-18 00:08:53 · 7 answers · asked by misscountrylover777 2 in United States

2007-02-18 00:02:10 · 5 answers · asked by juggernak 1 in United States

A friend claimed head of household but didn't have dependents so he's trying to claim himself. Is this allowed? WIll the IRS make him repay whatever refund he gets?

2007-02-17 23:52:09 · 5 answers · asked by MonsterJamFaninDC 1 in Other - Taxes

2007-02-17 23:49:46 · 2 answers · asked by Dave IOW 1 in United Kingdom

Had very little earned income (less $1,000.00) in 06. I was on disability all year due to injuries from a car accident. Ex wife came after me for things we agreed to verbally (I know my fault - should had court bless it) but she denied and was not in decree so I had to pay in excess of $30K. (By the way - I am NOT a deadbeat father - I am totally up to date on support etc..pay in excess of $1.2K/m+ for 6 years - and am very diligently - despite my ex's efforts to stay in my children's life's).

Back to? Will I have to pay fed/state tax on $ withdrawn from 401k for this? I had no other source. Believe I can prove hardship and/or the was on disability with basically no earned income for 06. Thanks in advance for feedback.

2007-02-17 23:49:21 · 4 answers · asked by johnfromRI 1 in Other - Taxes

and what is the fee to pay zero income tax?

2007-02-17 23:38:36 · 6 answers · asked by Vijay Soni 2 in India

I'm filing out my tax returns through a program called TaxCut and I've come to the point where it says Standard vs Itemized. I don't understand what they are asking me to do. My standard is $5,150 and my itemized is $28. When I click "Why would i choose itemized" it says "Unless you're filing a Georgia, Oklahoma, Utah, or Virginia tax return, you should use the standard deduction we selected for you." I'm filing an Oklahoma return so when it says "If you are filing a Georgia, Oklahoma, Utah, or Virginia tax return, you could benefit from itemizing deductions on your federal return, even though it results in higher federal tax." what does that mean??
I need help!!

2007-02-17 23:35:50 · 6 answers · asked by misscountrylover777 2 in United States

And why it is necessary?

2007-02-17 23:27:23 · 3 answers · asked by Vijay Soni 2 in India

This is after receiving an e-mail having won a lottery prize in uk.

2007-02-17 22:42:19 · 6 answers · asked by sura 1 in Canada

I can't seem to find the right web site for printing off a copy of my own w2 tax form from Ruby Tuesday. I was an employee of the St. Robert, M.O. restaurant until Jan. 2007. I am now in Germany and the computer is my only outlet for communication. I still have to file my taxes, but I can't do that without my w2 tax form.

2007-02-17 22:05:37 · 5 answers · asked by mxitup68 1 in Other - Taxes

In giving hand me down clothes,household items,towels,shoes through out the past year.What type of cash value in chairatable contributions can you claim,before you need reciepts,for tax preparing?

2007-02-17 21:38:01 · 3 answers · asked by Anonymous in United States

2007-02-17 20:33:43 · 9 answers · asked by densheng 1 in United States

I sued my abuser, who molested me and who was convicted to 8 yrs in jail for damages, (i believed it was punitive but also for me to get money to get therapy, I saw a therapist to get the judgement) and was awarded part of my the overall settlement, now myself personally would definately not feel the gov't has any right to touch this money since it was to repair my deep suffering, but since the gov't is heartless, i need input, i just wanted some of your thoughts b4 i hear back from my lawyer (he should know)
and if i do have to pay tax on this money, would it be treated as real income? that case i would lose most of it :(
thanks

2007-02-17 20:03:05 · 6 answers · asked by kym_marie 1 in United States

If one is there with green card or H1B visa

2007-02-17 19:02:28 · 5 answers · asked by Rajeev S 1 in United States

I just exercised some ISO stock option by buying and holding the stocks. I have not sold any of the stocks yet. Do I need to report to IRS now about the exercise?

I understand at the end of the year I need to report it on 1040 for AMT calculation. I just don't know if there something I need to file right away, say within 30 days of my exercise.

2007-02-17 18:29:47 · 3 answers · asked by Ken L 1 in United States

I have gross income about $9000 on my first job. Then about $4000 on my 2nd job during past year. When I was filing tax info online, I have $1077 tax refund from my first job. After I key in 2nd w-2 info for my 2nd job, I got less refund: $1055.
If caculate them separately, I got $1077 on from my first job, $355 on my second job. Total I should get should be 1077+355=1432. Is there something wrong?

2007-02-17 18:12:15 · 3 answers · asked by Joseph H 2 in United States

i have 4 girls but only claim one as a dependent i only made a little less than 7 thousand last year and i got the earned income credit so is there a reason i did not get the child credit also even though i do not claim my other girls as dependents could i not get the child credit on them as well they all live with me??

2007-02-17 17:56:07 · 3 answers · asked by HOT 3 in United States

what if a worker is Low income or he/she didnt make much in year will he/she can get high income tax return as or the Irs should pay he/she back''

2007-02-17 16:37:48 · 5 answers · asked by aguila_leon2 1 in United States