Taxes - February 2007

Thanks

2007-02-11 00:15:48 · 7 answers · asked by Me 3 in United Kingdom

We built a home in 06 and did some home improvements after we moved in. I wonder if we can also deduct some of the fees like construction fees, origination fees, appraisal.. etc.We may just have to ask a prof to do our taxes. I did our 1040 with no problems(have not filed it yet) but I didn't see any part there where I can deduct home improvements like I heard some people say. We live in OH if it's of any significance to those who have an answer. Thanks.

2007-02-11 00:04:47 · 8 answers · asked by grace 1 in United States

i recently split with my husband- he is the father of my son, but not my daughter. i want to claim tax credits for myself and my daughter, as i only work parttime. problem is, me and my husband are still living in the marital home, as it is jointly owned. he is willing to pay for our son, but not my daughter. her biological father is not on the scene (he hasn't seen her for yearsand i nelieve he is in prison). am i entitled?

2007-02-10 21:53:19 · 3 answers · asked by evajade2007 2 in United Kingdom

i recently split with my husband- he is the father of my son, but not my daughter. i want to claim tax credits for myself and my daughter, as i only work parttime. problem is, me and my husband are still living in the marital home, as it is jointly owned. he is willing to pay for our son, but not my daughter. her biological father is not on the scene (he hasn't seen her for yearsand i nelieve he is in prison). am i entitled?

2007-02-10 21:52:53 · 2 answers · asked by evajade2007 2 in United Kingdom

2007-02-10 20:56:32 · 7 answers · asked by Debra R 1 in Other - Taxes

Do you usually receive your state return before your federal if you efile or do they come together I would assume they come at different times but I received state before federal I did my taxes my self this year wil an e file option and I am supposed to get mt federal by the thirteenth but I dont know if I owe or anything like that, Im pretty confused by the whole thing, and am trying to keep track to make sure it goes as it should

2007-02-10 19:59:34 · 5 answers · asked by Taylor B 1 in United States

Can anyone tell me if the cost of having a house demolished be taken as a tax deduction? I own a piece of land in OH (I am from NC) --the county and city where the house was located demanded I have the house torn down due to its condition. The house was uninhabitable but I was being charged land taxes for a structure. Nonetheless, I had to have the house destroyed and the land cleared. Can I deduct any of that expense on my taxes. If so can you point me in the direction of the proper publications or forms also. Thanks so much in advance...I always find Yahoo readers/'answerers' very knowledgeable and helpful.

2007-02-10 19:53:29 · 3 answers · asked by catnap82 3 in Other - Taxes

year 2005, i claimed as dependent with child tax credit(under 18) full time high school and living with me, but this year she made less then $5000 income and w-2 form received. how can i claimed with my income tax form and how handle with her w-2 form if i claimed for this year, can i add to my income?

2007-02-10 18:53:16 · 5 answers · asked by DK 1 in United States

We refinanced our mortgage in 2006 and 2400.00 for points was added in. The mortgage that was payed off had 2000.00 in points that I hadn't deducted in prior years. The 1098 form I received shows that 2400.00 was paid in points. (Even though we didn't actually pay them yet) Which of these amounts can I actually use? Or do I have to spread them out over the life of the loan? Also can I deduct the prepaid Interest and property taxes that shows on my refinance settlement statement, or would these already be added in on the 1098? I have tried researching these questions,but it seems like different sites give conflicting info. Thanks for your help!

2007-02-10 18:37:14 · 3 answers · asked by Anonymous in United States

18. What is the reading in kwhr of the electric meter shown in the exam figure below?



A. 0631
B. 1641

C. 1732

D. 9742

2007-02-10 18:37:12 · 8 answers · asked by sandy 1 in United States

I've got my w-2s and what else?
What if I worked at a place for only one day and earned less than $100 - do I need a w-2 for that?
I'm 18 and this is the first time I get the JOY :) of filing taxes

2007-02-10 17:39:48 · 7 answers · asked by vdd88 1 in United States

. From net earnings of $740 per month, Ginger Elliott must spend $200 for her portion of the rent on an apartment she shares with two friends. What percent of her net income is her rent payment?

A. 27 percent
B. 32 percent

C. 38 percent

D. 73 percent




10. John Davis makes $9.75 an hour. He works four hours on Monday, six hours on Tuesday, five hours on Wednesday, five hours on Thursday, and seven hours on Friday. What is his gross pay?

A. $132.70
B. $174.20

C. $263.25

D. $269.98




11. Victor Malaba has a net income of $1240 per month. If he spends $150 on food, $244 on a car payment, $300 on rent, and $50 on savings, what percent of his net income can he spend on other things?

A. 300 percent
B. 64 percent

C. 43 percent

D. 40 percent




12. John and Mary Billings own a condominium with an assessed value of $110,000. If the tax rate is 25 mills per $1.00 of assessed valuation, how much tax do they pay?

A. $2,750
B. $1,840

C. $1,420

D. $1,200




13. Moneys taken out of a salary for such things as taxes, medical insurance, and retirement funds are called

A. contributions.
B. commissions.

C. deductions.

D. exemptions.




14. The gross income of Ginger Hughes is $215 per week. Her deductions are: $15.16, FICA tax; $29.33, income tax; 2% state tax; 1% city tax; and 3% retirement fund. What is her net income?

A. $57.39
B. $157.61

C. $170.51

D. $202.10




15. Henry Devine bought a new dishwasher for $320. He paid $20 down and made 10 monthly payments of $34. What actual yearly interest rate did Henry pay?

A. 14.55
B. 29.09

C. 34.38

D. 68.75




16. The letter of application is intended to

A. find out what the prospective employer has to offer.
B. remind the prospective employer of your recent interview.

C. outline your value to a prospective employer.

D. accompany your portfolio.




17. Suppose your bank honors a check for which you don't have sufficient funds in your checking account. This action means that you've arranged beforehand for a/an

A. overdraft loan.
B. personal loan.

C. mortgage loan.

D. installment loan.




18. What is the reading in kwhr of the electric meter shown in the exam figure below?



A. 0631
B. 1641

C. 1732

D. 9742




19. Jim paddles from one shore of a lake three miles wide at 4 mph, and John paddles from the opposite shore at 5 mph. How long will they travel before they meet?

A. 20 minutes
B. 27 minutes

C. 1 hour, 24 minutes

D. 3 hours




20. If three bags of birdseed cost $14.16, how much will 14 bags cost?

A. $30.34
B. $33.71

C. $66.08

D. $70.80

2007-02-10 17:33:54 · 5 answers · asked by sandy 1 in United States

I'm getting ready to declare bankruptcy and need copies of my tax returns from 2002 to present. I never filed with a tax company so I don't have immediate copies available. I lost all tax forms in a fire. How do I go about getting copies of my tax returns and W-2's. I've also been told that I didn't file my state taxes for 2 years 2003-2004 once I get copies of my W-2's what is the best way to go about correcting this and getting filed. I know I will end up paying penalties and thankfully didn't owe that much back then. I didn't file the one year due to the fire. The second we are still trying to figure out. I live in Missouri if that helps out. This is all I need to officially file my bankruptcy so want it done fast.

2007-02-10 17:24:55 · 4 answers · asked by slytherin_95 4 in Other - Taxes

his mom stole the card and won't return it and i can't file taxes without it

2007-02-10 17:04:18 · 11 answers · asked by scooby 1 in United States

I heard that it was originally enacted as a temporary solution to funding the war. Anyone have any idea?

2007-02-10 16:55:08 · 4 answers · asked by JustTalking 3 in Other - Taxes

The new IRS tax law said you must have reciepts for charitable contributions after Augusy 2006 does that mean you can claim contributions up to that point? But not after? This is very confusing for me.

2007-02-10 16:53:32 · 3 answers · asked by Missymoo 2 in United States

2007-02-10 16:52:25 · 2 answers · asked by John 1 in United States

In my company, there is a notice period of 3 months and if any employee leaves before that notice period, he/she has to pay the amount for that duration to the company. I would like to know how the tax is applied on that.
Whether this amount paid to the company will be deducted from annual salary and will be exempted from tax in INDIA.

If employee leaves without permissin of employer, then can employer take action against him/her?


Is it possible to take leave during that notice period, and get relieved after 3 months ?

2007-02-10 16:48:35 · 3 answers · asked by Pradeep 1 in India

is efiling safe r not

2007-02-10 16:20:43 · 7 answers · asked by Anonymous in United States

2007-02-10 15:50:36 · 3 answers · asked by drbmsolanki 1 in India

2007-02-10 15:32:53 · 5 answers · asked by Alfie F 1 in United States

2007-02-10 15:11:36 · 3 answers · asked by Cole 2 in United States

i did my taxes online(for the first time by myself)usally we will go to HandR block and get them done. anyways, i decided this year to do somthing diferent. plus my best friend had done them at the same place. i went to this web site: citizentax.com and everything was going good til i messed something up. i had gotten so flustered that i didnt realize i had just submitted my federal taxes with the whole form blank, only my husbands and i s.s numbers!!! tryed canceling everything, i thought everything was fine and the next day, i had my best friend re-do my federal, well now the irs thinks someone is using our s.s numbers and i have to sign and send them in and call and explain the whole situation, i mean i dont mind all that. i guess i feel so stupid for trying to do something by myself and doubting me so much that i think im wrong when really im not and now im stuck.....what to do and am i the only one?what should i do for next year?

2007-02-10 14:37:52 · 3 answers · asked by chica 23 1 in United States

I owe over 30,000 in past due income taxes, greater than 3 years ago, and my last year is paid in full. Is bankruptcy an option?

2007-02-10 14:36:18 · 7 answers · asked by lmop 1 in United States

We just did our taxes this week but when we send them in the mail two days after we got a income form that we forgot to report it is just 95 dollars do you thinks we need to do them again or is not to much money?

2007-02-10 14:25:30 · 9 answers · asked by Anonymous in United States

Just wondering here b/c something doesn't seem right to me...

My husband started his own business last year and we just got our taxes done tonight. He ended up making about $150,000, but $100,000 of that went to his employees and at least $25,000 were things that could be written off(tools, nails, materials, ect)...

How is it that all we got back was $500? It just doesn't seem to make sense to me. We also have one child we claim and I stay home and don't have an income.

2007-02-10 14:19:05 · 6 answers · asked by ALG 2 in United States

I recently started working my 1st job(Mcdonald's..ugh, I know). At work, my employer gave me a W-4 form to fill out. I do not know anything about taxes because I have never had to do them and my employer did not explain what to put for how much I claim. I filled out everything, but where it asked what number I am claiming, I put zero. I didn't know what I was supposed to put.

Should I have put something else? I am not married, have no children/dependents, and am a part-time college student with a full-time job at Mcdonald's, making a crappy $5.25/hour.

2007-02-10 14:18:00 · 9 answers · asked by Cupcakes are yummy 1 in United States

I am on food stamps and also receive money towards daycare services for my child. Do I claim this on my taxes and if I do then where and how?

2007-02-10 14:17:03 · 6 answers · asked by bubblytoes99 2 in United States

2007-02-10 14:10:34 · 2 answers · asked by Michael l 1 in Other - Taxes

2007-02-10 14:09:33 · 3 answers · asked by Michael l 1 in Other - Taxes