Taxes - March 2007

2007-03-14 18:28:33 · 5 answers · asked by jcowens2000 1 in United States

could avoid or put off paying capital gains until I sell my mutual funds. Is there a way to do this?

2007-03-14 18:25:01 · 6 answers · asked by Jason 2 in United States

if someone grossed 10k/month, after taxes or whatever, how much would they actually net.

2007-03-14 18:11:52 · 4 answers · asked by butterfly234 4 in United States

My adjust gross income is over $160,000 and I have a rental property. Form 8582 disallow pretty much all the loss (depreciation) for my rental property. How do I get around this? Set up a LLC?

2007-03-14 18:07:59 · 5 answers · asked by guts_az 1 in United States

do people who make alot of money have to pay more taxes to the government than people who dont make alot of money?
if so do the famous people have to pay alot of taxes?

2007-03-14 18:07:05 · 2 answers · asked by Anonymous in United States

2007-03-14 18:05:49 · 4 answers · asked by s_kannan_79 1 in India

I think I have over $850 in income.

2007-03-14 17:46:40 · 6 answers · asked by slywakka250 1 in United States

2007-03-14 17:45:36 · 3 answers · asked by Joanna M 1 in United States

We have received your tax return and it is being processed. Unless we find mistakes or you owe other taxes, you should receive your refund by March 27, 2007.... ALSO IF I FILED ELECTRONIC, THEN WHY DOES IRS HAVE TO REVIEW , I THOUGHT THATS WHY I PAID THE TAX PREP.

2007-03-14 17:37:54 · 7 answers · asked by torque_740 1 in United States

The name of the site sounds like zonnitdotcom but it's not.

2007-03-14 17:31:53 · 2 answers · asked by Judy M 1 in Other - Taxes

We have donated 100's of items, and I'm wondering if we have to make a separate entry for each individual item, or if they can somehow be grouped?

2007-03-14 17:28:11 · 4 answers · asked by Anonymous in Other - Taxes

The irs told me that my tax refund was on hold because I have interest due to me from the irs. Do that mean that I'm getting more money back?

2007-03-14 17:13:45 · 2 answers · asked by Catrina S 1 in United States

Can we still file 1040A, or is a 1040 mandated? I ask, because the federal internet free files aren't giving us an option for 1040A, which seems a little strange.

Opinions? Advice? Besides having a CPA do it. Perhaps we will...but I want an idea of what to expect first.

2007-03-14 17:07:11 · 2 answers · asked by powhound 7 in United States

Am I covered by a retirement plan at work if I had a 401k at the employer I worked at the beginning of the year and quite from, but not covered by a 401k at the job I had at the end of the year.

2007-03-14 17:06:12 · 2 answers · asked by Eddie C 2 in United States

I am a 19 year old college student. This year I made $398 at a job. I have arround $700 in interest and dividends from some accounts. From stock/option trading, I have capital gains of about $300 and Losses of about -$3600, so capital gains/loss of about -$3300. I've definitly lost money on the year, so It seems like I sure dont' owe anything.

Also, I will most likely be claimed a dependant on my parent's tax return. Am i required to file?

2007-03-14 17:05:10 · 3 answers · asked by slywakka250 1 in United States

Say I buy $1000.00 in stocks and they go up 10% to $1100.00

Do I only pay taxes on the 10% ($100) profit?

2007-03-14 17:00:28 · 4 answers · asked by Home P 1 in Other - Taxes

In addition to R/E taxes on my main home, I pay R/E taxes on 3 time shares. One is in Mexico. I know you can only deduct mortgage interest on a main home and a 2nd home. But what about real estate taxes? Can I deduct them on all 3 time shares?

2007-03-14 16:47:48 · 2 answers · asked by Lisa M 2 in United States

2007-03-14 16:46:04 · 3 answers · asked by james m 1 in United States

The statement says "Amount reported to the IRS $339." What should I do? Even though it says that this is not a bill or notice of refund. Is there anyway I can find out exactly what this means? Do I have to put it on my return as earned or
un-earned income or is it a refund?? Please let me know if you need any more info.

Thanks.
Leslie H.

2007-03-14 16:41:16 · 6 answers · asked by Leslie H 1 in United States

Here's the situation... We're married but do not live together. I have three children from my previous marriage. Can we BOTH file as head of household and he claim one child (as a step-parent) and I claim two since we do not and have not lived together at all since we married or do we have to file either jointly or married filing separately?

2007-03-14 16:19:01 · 7 answers · asked by Chris 4 in United States

i am about the file my taxes but i dont know if there is a limit in the amount i was allowed to make for the year. I am a full time student in college in montreal, canada. do any of you know if there is a limit that i was allowed to make and how much it is? please help!
thanks

2007-03-14 16:12:57 · 2 answers · asked by girlwiththegoodies 3 in Canada

2007-03-14 15:57:25 · 4 answers · asked by Anonymous in United States

a. Depreciation recapture
b. Charitable contributions
c. Capital losses
d. Depreciation
e. Bad debts

2007-03-14 15:50:19 · 1 answers · asked by Ruben G 2 in Other - Taxes

I have money in an IRA I would like to withdraw and give to my church for their building campaign for a one time gift. (Given the history of cancer and heart disease in my family, it's unlikely I'll make it to age 59 1/2 for a regular distribution.) If I read the IRS tax code right, I'll have to claim it as income & then be hit for a 10% penalty, plus whatever tax is due on it for income, right?

So here's the second question. If I do take the IRS money out and have to claim it as income, then can I claim it as a charitable contribution since I'm giving it to the church?

Thanks for any assistance! :)

2007-03-14 15:48:20 · 6 answers · asked by DIANE S 1 in United States

I'm currently living in Australia for a few months. I moved here last November so part of my income for 2006 was from my company in the USA and part was from a company that I worked for in Australia. What forms do I need to use to file my US taxes when I have income from two countries?Also, do I have to claim my overseas income if it was below a certain amount? Thanks.

2007-03-14 15:42:53 · 2 answers · asked by Amanda R 1 in United States

iF YOUR COMPANY REIMBURSES YOU FRO THE MONEY YOU SPEND WHILE ON THE ROAD, CAN YOU CLAIM IT ON YOUR TAXES?
WOULDN'T THAT BE CONSIDERED DOUBLE DIPPING?

2007-03-14 15:41:31 · 5 answers · asked by leigh c 2 in United States

I do not claim the child as a dependant, but should I still see some kind of benefit when I file my taxes? I gave this info to my accountant and he told me that It wouln't do any benefit for me. I was puzzled...So can someone help me!

2007-03-14 15:35:47 · 12 answers · asked by Drake 1 in United States

high to cover the cost of it and that you have to wait a long time for care because of it being universal. Is that the case-please tell me about it and why it is good or not so good!

2007-03-14 15:29:31 · 6 answers · asked by Salsa 3 in Canada

My father is a retired teacher. He is not filing IT returns since he gets Rs.3,000 per month as pension.

2007-03-14 15:26:14 · 9 answers · asked by Yogesh S 1 in India

I recently filed my state and fed taxes, and included some land tax for a house I just bought. Turns out, the land tax that was supposed to be paid in dec. was not paid by my bank. I am late and have to pay it now. Problem is - I already included that in my tax return. If I just pay it now, will I have to amend, if I do not claim it as deduction on this years?

2007-03-14 15:16:11 · 5 answers · asked by B 5 in United States