Taxes - March 2007

Is the 2p cut in basic rate income tax a real tax cut considering that the 10p rate was scrapped?

2007-03-21 12:19:50 · 2 answers · asked by footynutguy 4 in United Kingdom

I am filling in my 2006 tax return by Turbo Tax on line. This is my first time to use this program. I was so surprised finally I got a negative return which means I will have to pay more tax. Is it normal?
I am married and submit the tax return with my spouse jointly. We bought a home last year and are still paying our mortgage. So we suppose we can get more return this year.

anyone has some comments?

2007-03-21 12:02:09 · 9 answers · asked by nnanppg 1 in United States

2007-03-21 11:54:33 · 5 answers · asked by james_santos4 1 in United States

I am neither a US citizen nor a green card holder. I came in as resident alien (MNC) on work visa and have funds in 401k account. I have been transferred to a country where there are no income taxes. They have a similar 401k plan (however no tax). Will I be able to rollover all my US 401k funds to my new account without any tax impact in US? In my next year there will be no US income and I guess I don't have to file return (since I am not a citizen or PR). Would it help if I withdraw or rollover next year?

Has anyone seen this done or done for themselves? Thanks for your time and any answer.

2007-03-21 11:51:41 · 3 answers · asked by If_in_doubt_ask 1 in United States

the school district number they ask for when filing a state tax return. i'm in iowa. I've already looked on the irs and iowa revenue sight, please give me a specific link if possible

2007-03-21 11:51:37 · 2 answers · asked by gypsy50309 6 in United States

I already got my income tax via direct deposit, but I told someone, who lives with me, that I suppose to get it through the mail and to watch out for it, now I need to make a fake brown envelope and a check from the treasury - please help me, NO SARCASTIC ANSWERS!!!!!! PLEASE

2007-03-21 11:51:34 · 4 answers · asked by Anonymous in United States

I own a Landrover Discovery, they are NOT bullying ME out of it.

2007-03-21 11:39:09 · 9 answers · asked by Welshdragon 5 in United Kingdom

I didnt pay sales tax from jul 06 to dec 06 in Nebraska. and i lost last year around 25,000 from my business. i didnt made any money from the business. still i have to pay state sales tax ?if yes how much time i have to pay last years sales tax? i filed tax return to IRS showing the lose. and i am shutting down the business next month.

2007-03-21 11:35:40 · 3 answers · asked by teejay 1 in United States

The nation's average return is $ 2,500 according to money.com.

http://money.cnn.com/2007/03/16/pf/taxes/refunds/index.htm?postversion=2007031910

Why am I only getting under $ 150.00 ?

2007-03-21 11:11:29 · 8 answers · asked by Geeeyaaa 4 in United States

Let's say someone is going to College full time and drawing the maximum amount per month, or anything from the G.I. Bill for that matter...is that considered income for tax purposes?

2007-03-21 11:04:18 · 4 answers · asked by Middy S 2 in United States

We did not make much money last year, so we do not want to pay a CPA to do our taxes. I would like to use TurboTax or Tax Cut to do our taxes. Which one am I supposed to use? Home & Business? Thank you.

2007-03-21 11:02:28 · 2 answers · asked by Me 2 in United States

What do you think of the tax raised on thags and booze and the cut in vat on niccotene replacement what a con

2007-03-21 11:02:08 · 5 answers · asked by Anonymous in United Kingdom

I have 3 kids and my husband and I are trying find a way for me to quit working to be a stay at home mom. The only way we see that it will be possible, is to lower our overhead by selling our huge house and downsizing.

My question is, how hard will we be hit during tax time because of this? Since we have always had the interest to claim on our taxes we have always gotten money back and this year we added another baby, but I am unclear as to how "renting" and not "owning" will affect us.

2007-03-21 10:54:24 · 5 answers · asked by CeciGirl 1 in United States

2007-03-21 10:43:28 · 1 answers · asked by jenny 1 in Other - Taxes

can you write off things for taxes like gas (mileage) for going to job interviews, write off an interview outfit, and things like that as long as you keep track? is there anything else you can take off like that when in a job search?

2007-03-21 10:39:17 · 8 answers · asked by happy 3 in United States

I'm planning to deduct the actual costs for a car that I am leasing that I use 100% for business. Can I deduct car washes?

2007-03-21 10:39:09 · 2 answers · asked by James007 1 in United States

ok i work for a huge tax firm i want to know, what is the strangest thing anyone has ever tryed to write off?? i wanna know stories, come on all you tax heads enjoy

2007-03-21 10:35:26 · 3 answers · asked by Jamie 1 in United States

I am aware that April 15th is the 'negligent' deadline for those who must legally file a return. However in the event someone does not NEED to file(low income), do they still HAVE to file by the 15th to receive their entitled tax refund(s)?

Been having a tough time finding pertinent information on an official document about this.

2007-03-21 10:32:36 · 3 answers · asked by dork_hollywood 3 in United States

I am a small business owner and was wondering how I can pay myself with the least amount going to taxes. I currently take a regular paycheck that is taxed like a normal person. Should I do an owners draw, or are there ways I can be non-taxed for my salary?

2007-03-21 10:23:03 · 2 answers · asked by Syrus 2 in United States

My dad is about to retire and recently sold the office where he used to work.

He would like to give half of the sale proceeds after he pays his capital gains tax (office has been completely depreciated in NY) to me and my sister. I live in Virginia and she lives in NJ.

Can he use part of his lifetime estate tax exemption to transfer the assets without incurring inheritance, estate, or gift taxes?

And what exactly is the difference between inheritance and estate taxes?

2007-03-21 10:15:46 · 2 answers · asked by Michael 2 in United States

how do i let you know that my address changed after i mailed off my tax return. but i did not know that i was moving until three weeks after it was mailed..

2007-03-21 10:11:57 · 3 answers · asked by Anonymous in United States

i check my return satus today on the irs web site and they say i would not get my refund untill april 23 when lasttime i checked it said march 21, does any one know why the feds r not giveing me my money like they said they would. i am a broke DeVry student so i need the money

2007-03-21 09:54:20 · 5 answers · asked by chris rd 2 in United States

I thought the pension amount should go into the 1099-R, but they gave me a 1099-MISC, are they right? Now, I've to pay taxes on the pension I deposited.

2007-03-21 09:52:55 · 4 answers · asked by S M 1 in United States

to get things , such as storage buildings, things they told us we could keep.we pay rent to someone else for the property, the mortgage is only for the house, dont we have some sort of rights then , like abandonment of property?we live in ga.

2007-03-21 09:50:06 · 3 answers · asked by Anonymous in United States

My boyfriend and I own the condo together and split all payments 50-50, including property taxes. We are aboutt o do taxes and i wonder if one of us can claim the entire interest deduction or do we need to split it 50-50 just like we do with payments? If my boyftriend claimed everything, we'd get more $$ back.

2007-03-21 09:50:05 · 6 answers · asked by Anonymous in United States

I worked two days for a state university. They said that sinmce my gross was less than $600 they were not required to send me a 1099. Does this mean I do not have to pay taxes on this income?

2007-03-21 09:46:57 · 4 answers · asked by tomi27410 4 in United States

I attended coaching classes for CPA and also gave the CPA exams last year. Can I fill up those costs against 'Education Credit' in form1040?

2007-03-21 09:39:23 · 1 answers · asked by prashgoy 1 in United States

what about a leased car used/bought solely for going to work(of course some pleasure is in the drive)? how do you determine how much to deduct?

2007-03-21 09:20:27 · 5 answers · asked by Anonymous in Other - Taxes

can you please kindly explain to me what is tax credit?

i have been working in a supermarket for 7 years.
i got married last year.
my wife is currently seeking work.
no kids at the moment.
she applied for national insurance number.
she went to the interview.
she was told that as her husband, i am able to apply for tac credit?

they said to her to tell husband to write out a letter and send it to tax credits dept.

what shall i write?

2007-03-21 09:18:21 · 2 answers · asked by Anonymous in United Kingdom

If we just had to pay a percentage, it would be more efficient, and we could cut the entire IRS budget out of the Federal budget and do something better with that money - like paying for more wars or something.

2007-03-21 09:16:45 · 6 answers · asked by treasurefish.com 1 in United States