Taxes - March 2007

If you make $500, do you have to claim that on your taxes, or is anything $501 and up that you have to file?

2007-03-30 10:35:35 · 3 answers · asked by foxymama1 3 in United States

If you filed jointly in past years can you now file by yourself if you are married? Oh and does Turbo Tax work?

2007-03-30 10:24:54 · 6 answers · asked by Barbara 4 in United States

I got married 12/31/06. I haven't gotten a new social security card yet though. My husband seems to think there were changes and we would have a problem filing jointly without it being changed. I can't find anything mentioning that though.

Will there be a problem or should we be fine? Thanks for any help!!! =o)

2007-03-30 10:11:13 · 7 answers · asked by chloe279 1 in United States

2007-03-30 10:07:19 · 12 answers · asked by Anonymous in United States

2007-03-30 09:51:28 · 4 answers · asked by Bev J 1 in Canada

I live in Florida-US and am updating the old roof of my home with a completely new one before the next hurricane season. I assume that this won't be a tax deductible expense if I pay for it directly, but would I be able to deduct interests of a home equity loan used towards this renovation?

2007-03-30 09:33:13 · 5 answers · asked by gtmds 2 in United States

If i am self employed, and had made estimated payments to the IRS for $2000 in 4/15, 6/15/, and 9/15, how much do i pay on 1/15 of the next year?

2007-03-30 09:10:31 · 3 answers · asked by kervel 1 in United States

2007-03-30 09:07:29 · 4 answers · asked by Anonymous in United States

I had lived and worked in Indiana from Jan. to Apr. of last year and moved to Texas and worked there from Apr. to Dec. of last year. When I used online my tax return tool to calcuate my state tax, it showed that I owe $400. Is this reasonable? I don't understand why I owe to Indiana even though I only lived there for 4 months last year. Please give me some feedback.

2007-03-30 09:03:27 · 4 answers · asked by Anonymous in United States

My state income taxes are due on Apr 15th. Does that mean that they must recieve my payment by then or that it must be postmarked by then?

2007-03-30 08:51:56 · 3 answers · asked by dtx00 1 in Other - Taxes

If u live in florida for more than 4 yrs do u only do federal returns or state returns or both using taxcut?

2007-03-30 08:38:27 · 6 answers · asked by Zorro 4 in United States

2007-03-30 08:36:03 · 4 answers · asked by relaxd9 1 in United States

I would just like to say that I am very religious and reported every penny of the tips I made.... BUT my friend is thinking about not reporting all of his tips this year. What is the likelyhood that he will get audited for this? He only works part time so he didn't make all that much money in 2006. He gets minimum wage by his workplace plus about twice the hourly wage in cash.

2007-03-30 08:26:56 · 3 answers · asked by Shakespeare, William 4 in United States

So I am one of those people who fall into the Single no children 45-52k salary range. Anyone have any advice on what I should claim on my taxes so that I end up paying approximately the right amount of taxes and don't have to pay a ton or get too much of a refund in return? I'm torn between claiming 1 or 2.

2007-03-30 08:26:40 · 3 answers · asked by Gary O 2 in United States

2007-03-30 08:20:59 · 1 answers · asked by umka 1 in United States

Let's suppose a business has a product that companies can subscribe to for $30/month. Can the business take a deduction for donating a subscription to a non-profit organization? (I suppose a web-hosting company would be a great example of the type of situation I'm thinking about.)

It's not a "service" in the sense that the cost is based on the number of hours worked -- yet it's not quite a tangible product the non-profit could hold in its hands.

2007-03-30 08:18:19 · 3 answers · asked by NS 2 in United States

My dependent adult child gets money from me every month t buy things she needs(like toothpaste,etc.,). She does chores around the house, but she would get this money whether she did the chores or not. Is this money taxable? Also she hasn't filed taxes for several years because she doesn't work and all she gets is a minimum amout of interest from a savings account and a cd? Should she file six years back even though she doesn't owe anything and is there any way to forego the late filing fees(she doesn't have much money)?

2007-03-30 08:10:21 · 3 answers · asked by Bea Bonnie 1 in United States

Going to college in just over a year now. And I'll need to buy a computer. A friend of mine once told me that if my parents buy me one for school, it could be considered an education expense, and they'd get its value back in their return. I've taken a gander online, and i've had a hard time finding anything on any federal web site. Maybe it'd be a state thing? (Minnesota)

Thanks!

2007-03-30 07:36:23 · 1 answers · asked by Anonymous in United States

Are there any Fed and Sates tax exemption amount for interest earned from saving accounts?

i.e. The bank interest will not be taxed if I earn less than x dollars.

2007-03-30 07:10:00 · 5 answers · asked by sel_bos 3 in United States

2007-03-30 06:14:03 · 7 answers · asked by Kat 2 in Other - Taxes

My dad's company files an income tax return in every state he sells to, but I don't think he's required to by PL 86-272. Is there a way I can figure out what makes a company have sufficient nexus in a state to be required to file an income tax return?

2007-03-30 05:22:55 · 2 answers · asked by texascajun82 2 in United States

As far as I can tell he was owed a refund each year. Can he file from previous years?

2007-03-30 05:02:00 · 11 answers · asked by Red 2 in United States

I misplaced my W2 forms like a fool, but will I get penalized if I choose not to file? I was a graduate student during the year if that matters.

2007-03-30 04:40:52 · 3 answers · asked by mush182000 1 in United States

Thanks for the answers all on my last post.
I will amend my taxes as advised but what is supporting documentation of My Income. I dont have alot of 1099Misc. I keep my records in Quickbooks. When I spoke with Ma. Dept of Rev on the Audit they said anything I print is no good that I need Bank Statements. Is this correct? Or can I create my reports on Deposits myself?

2007-03-30 04:38:55 · 3 answers · asked by Anonymous in United States

I purchased my home for $360,000. It was foreclosed in 2006. I owed $280,000 on a first and $50,000 on second. I received 1099-C from 1st lienholder showing FMV $320,000 with amount canc 57,830 and a 1099-A showing FMV $242,664 with balance outstanding $36,619. I received nothing from 2nd lienholder. What do I claim on my taxes or do I even have to claim anything?

2007-03-30 04:32:39 · 2 answers · asked by keith m 1 in United States

what kind of fines and when should I expect my returns back

2007-03-30 04:26:48 · 4 answers · asked by some B 2 in United States

2007-03-30 04:14:25 · 2 answers · asked by weslaf0313 3 in United States

Context:

- I am a Spanish citizen, living in Spain (European Union);
- I will incorporate a LLC company, in the state of Nevada;
- I will open a corporate bank account in Cyprus, on the name of my LLC company;
- I will have a web site that gets an income on advertisement, on the name of my LLC company, transferring the money directly to the corporate bank account in Cyprus.
- I know that I have to pay personal income tax in some country.

Where do I pay IRS? Spain? EUA? Cyprus?

Is there a better alternative to minimize the payment of personal income tax, 100% by the law?

2007-03-30 03:55:36 · 2 answers · asked by BigBoss 1 in Other - Taxes

Every month I have to pay $300 dollars to the IRS for federal withholding. That's about $3600 a year. If I took that same money and put it in the bank I would aquire several hundred dollars in interest by April 15 of the next year when it is actually due to the IRS. When I deduct my withholdings from my taxes I think I should be also able to deduct interest for them using my money. Is this already possible? If not do you think it should be? If my taxes are late I have to pay interest.

2007-03-30 03:53:19 · 10 answers · asked by Mark J 2 in United States

my organisation recently have made some strictures regarding tour travel proofs wherein they say that field people have to produce travel tickets for claim of the same. reason being that to avoid fringe benefits tax. i just want to know whether organisations have this kind of practice of asking sales people to produce travel tickets for claiming their tour expenses. does the fringe benefit tax come in connection with this. kindly explain the industry practice and also if fringe benefit tax with regard to travel tickets is relevent

2007-03-30 03:51:09 · 1 answers · asked by Anonymous in Other - Taxes