Taxes - March 2007

2007-03-18 15:47:49 · 1 answers · asked by resquivel72@verizon.net 1 in United States

Just wondering...

2007-03-18 15:43:56 · 7 answers · asked by Anonymous in Canada

2007-03-18 15:26:41 · 7 answers · asked by resquivel72@verizon.net 1 in United States

Hi,

When you want to file for an amendment of a 2005 tax return, I understand I need to file 1040X. What attachments go with, do I need to attach a copy of my original 1040 and also the new 1040, or just the 1040X with the concerned schedules enough.

Please advice.

Thanks

2007-03-18 15:07:16 · 5 answers · asked by theguy 1 in United States

2007-03-18 14:57:45 · 10 answers · asked by Anonymous in United States

Can I use my daughters pre-school fees for claiming education credits(line 31 of form 1040A) on my 2006 tax return - filing joint return with my spouse?

2007-03-18 14:51:17 · 6 answers · asked by Surie 1 in United States

2007-03-18 14:28:14 · 6 answers · asked by fantozzizoo 1 in United States

2007-03-18 14:17:57 · 6 answers · asked by Denise B 1 in United States

I couple of related questions:

1- Is there a formula that is used to calculate federal tax that is going to be whithheld from every paycheck? I understand it is based on W-4 form enteries, frequency of the paycheck (weekly, biweekly etc) and the tax bracket related to the taxable income but can someone please tell me what that formula is in terms of math denotation/expression? e.g. tax to be withheld = a x b/xy where a, b, x, y are various variables and what those variables are.

2- When Fed tax is withheld, is it withheld against the gross income for that period or the gross income minus FICA (ss and medicare tax) and/or medical health insurance premium? I understand that in case of 401k contributions, gross income minus 401k contribution = taxable income, which is then used to calculate FICA and so on. Similiarly, is state tax withheld against the gross income or gross income minus fica minus fed tax?

Thanks in advance.

2007-03-18 14:13:03 · 4 answers · asked by Azhar 1 in United States

2007-03-18 14:05:42 · 3 answers · asked by V Khan 1 in Canada

Not to mention the high utility bills and potentially expensive upkeep...

2007-03-18 14:03:50 · 2 answers · asked by Jeye 3 in Other - Taxes

Basically I know I will end up getting back my federal and state taxes because I'm military and only my monthly pay is taxed and my BAS and BAH is not. So when it comes to tax time I get it all back. I am married with 3 children and my wife does not work so I know I get everything back. I heard you can claim up to 10 and when you file claim you real amount and not get in trouble. Basically so you get it all back in your paycheck and not give the government a tax free loan for the whole year and give it back to you doing tax time. Is this true?

2007-03-18 13:54:20 · 3 answers · asked by Anonymous in United States

How do I do that?

2007-03-18 13:51:22 · 2 answers · asked by kliled 2 in United States

I know I can claim these papers from the last 5 yrs. It totals almost 2000.00. Do I get all this money back as a refund?? I have a friend that says she does, but she's not reliable, I've been checking everywhere on the 'net and I just don't know...I don't want to go to h r block and leave owing them money!

2007-03-18 13:50:53 · 3 answers · asked by Olivia R 2 in Canada

2007-03-18 13:50:53 · 4 answers · asked by Becky W 1 in Other - Taxes

...I don't have the money to pay it. What is the best thing for me to do? Should I call them, and try to make payment arrangements, or should I file an extension and try to pay it back later? I know paying it back later will incur penalties, but I'm really not sure about the best thing to do here. Please help me out.

2007-03-18 13:27:45 · 6 answers · asked by Cady 2 in United States

Such as donations to the Jimmy Fund, Salvation Army, and other nonprofit organizations.

2007-03-18 13:23:55 · 11 answers · asked by Andrew 4 in United States

Hi
Me and my wife are new to USA and since she is not working she does not have a social security number. For filing taxes either separately or jointly all tax softwares (Turbo, HR etc) ask for the spouses social security number.
Since I dont have that I am not allowed to file fed return online.
Is there a way I can file online, what social security number should I enter in case I need to enter a dummy number ?
Thanks

2007-03-18 12:54:10 · 5 answers · asked by handu 1 in United States

I am wondering if i filed my 04 W-2 Fedral tax return does anyone know if i can find out. And if there is a way for me to get my 05 W-2 sheet cause mine was lost when i was moving

2007-03-18 12:52:22 · 2 answers · asked by Rocco A 1 in United States

I received 1099-MISC, reporting $15.11 in royalties (box 2) from a company that sold a copy of my dissertation. My all other income has been reported on W-2. I am not sure if I need to report this $15.11 income at all (since it is less than $600) and just go ahead and file 1040EZ, or if I need to report it and file1040. If so, should I use schedule C or schedule E (see 1040 instruction on where to report royalties)? I do not run a business and there were no expenses involved since the dissertation was written some years back. I understand I wouldn't have to file schedule SE since the income was less than $400. Is this correct? What forms would I use to report the royalties for California income tax?
Also, the irony of all, I actually never received the check (for $15.11) and the company is issuing it now... (should I worry that they might issue another 1099 next year for the same amount?) . Any help will be very much appreciated.

2007-03-18 12:43:03 · 6 answers · asked by Kris 1 in United States

Does anyone know how to fill out a 1099 form?? I read through all of the forms I have and I am lost. Or even a website with information about it. Google didnt really help me, maybe I was looking for the wrong thing? Thanks!

2007-03-18 12:39:52 · 4 answers · asked by JERSEY GIRL 2 in United States

Here's a complicated one.

My daughter on the last day of Jan 2006, ran away from home. She said she didn't want to come home, so the State decided to keep her (no abuse, she just didn't want to come home). She's since been diagnosed as bipolar and is receiving treatment. She turned 17 in February 07. My wife and I pay child support to the state.

So the question is... How do I treat this? Having only been in the home a month in 2006, Is she a dependent I can claim? We pay the state child support. If I can't claim her as a dependent, can I claim the child support payments? If I can claim the payments, does that include payments charged against me in 2006 or only what's been paid in 2006? It took them six months to set up the payments, so now we have back support to pay as well.

Thanks to anyone who can help.

2007-03-18 12:36:09 · 8 answers · asked by MarriedWithChildren 2 in United States

Last year, I rolled over the funds in two 401ks (from previous employers) into my current employer's 401k. I.e., I just went from 3 plans to one. I didn't keep any of the funds, etc.

I received two 1099-R (from the plans I closed). Do I have to report this?

I'm using TurboTax, but didn't see a prompt. I'm thinking maybe I don't, but having the forms & not doing anything with them makes me nervous. :-)

2007-03-18 12:18:55 · 8 answers · asked by Bill 2 in United States

2007-03-18 12:18:00 · 3 answers · asked by Anonymous in United Kingdom

2007-03-18 12:15:07 · 2 answers · asked by shayyucker 1 in United States

I had to pay additional state tax to CA in 2005 for the amount I owned in 2004. But I forgot to claim it in my 2005 tax return deduction. Can I do it in my 2006 now, or I have to file a correction for 2005? Thanks.

2007-03-18 12:14:19 · 6 answers · asked by Sean 2 in United States

I bought a $3,500 computer in 2004 for personal use. In 2006 I started a business and converted it to 75% business use. When filing for my small home business taxes, can I deduct the value of my computer? I have never claimed it as an asset before, and have not ever depreciated it. What should I deduct and depreciate?

Using Turbo Tax, and it has confused me. Thanks.

2007-03-18 11:55:55 · 6 answers · asked by Jimmy John 2 in United States

What should I know for filing taxes for stocks that I will be investing in? Is it better to hire an accountant?

2007-03-18 11:54:41 · 3 answers · asked by Tuan T 2 in Other - Taxes

can I still receive my refund before the discharge?

2007-03-18 11:49:13 · 3 answers · asked by susan e 2 in United States

I know there are income limits on contributing to *Roth* IRA. I also know there are income limits on *writing off* a contribution to a Traditional IRA. I'm not asking either. I'm asking are there income limits on making a contribution to a Traditional IRA?

2007-03-18 11:48:35 · 4 answers · asked by Bill 2 in United States