Taxes - March 2007

This is not considered earned income, so I was wondering if I have to report this and if i do, How would I report it as?

2007-03-11 14:15:02 · 5 answers · asked by Mr. Right 1 in Other - Taxes

I have voluntarily paid child support for the entire time and even before ordered to do so. I have flown from Va. to AZ. in Oct. just after Sept. 11 and entered into an agreement with the state to pay above what was ordered by the original agreement. My tax refunds have been turned over to the child support even though I followed my agreement and paid everything asked. I have only been allowed visitation with all my kids once for a few hours due to my ex being bitter.
The last child will be 18 soon and now I want to be done with everything and I want all overpayments returned to me with interest.
I need a lawyer who will cross state lines and represent me against AZ and the IRS.
your input is greatly appreciated in this matter.
Thanx,
Rory

2007-03-11 14:09:07 · 5 answers · asked by mcneil_rory 1 in United States

I purchased my house 14 years ago for $100,000 , 4 1/2 years ago i decided to rent it out, but now after all this time I learned i could have been depreciating the value of the home.
If someone could Please tell me when i calculate the depreciated value will it be for purchase price 14 years ago or value as of four years ago (160,000) ? also how do I find the House value minus land value ? And if i amend taxes for the past three years , will i have to amend for each year separately or once for all years ?

2007-03-11 13:51:01 · 5 answers · asked by Anonymous in United States

2007-03-11 13:49:45 · 4 answers · asked by gotthex 2 in United States

A new client (S-corp) started paying for some fitness equipment in 2005 but did not take any deductions for it (don't know why). In 2006 they made the final payments and now they own it outright, over time paying 30% of the original purchase as a "rental" interest per the invoice.

Since they did not take any deduction in 2005, how should I handle the 2006 rental payments? There was no buy out in the end, just out right ownership.

Thank you.

2007-03-11 13:44:25 · 2 answers · asked by sapugh 1 in United States

My parents typically take care of most of my money stuff, but I'd like to do this myself.

I have two sources of income: a web-site that got me ~$3500 last year in Google ad revenue, and a contracting job that got me ~2500. In all, I made exactly $5997.

Google doesn't send me any tax forms, but the contractor sent me a 1099-MISC form.

What exactly do I need to do tax-wise? I'm completely new at this, and I've heard since I made less than $6000, I don't need to do anything; but I'd like to make sure.

2007-03-11 13:36:28 · 9 answers · asked by Anonymous 3 in United States

What happens if you don't file federal taxes too?

2007-03-11 13:24:21 · 8 answers · asked by Pawan R 2 in United States

2007-03-11 13:17:15 · 5 answers · asked by Michael M 1 in United States

Or only the amount that the your health insurance did'nt pay. -Thanks

2007-03-11 12:57:59 · 5 answers · asked by roygm 2 in United States

2007-03-11 12:45:17 · 3 answers · asked by Jenwen 2 in United States

2007-03-11 12:44:29 · 8 answers · asked by redwidow 5 in United States

earned less than $12,000

2007-03-11 12:39:03 · 5 answers · asked by It's me _ that dude 1 in United States

I am a dependent. someone told me i will get taxed only if i make more than 6k is that right?

2007-03-11 12:25:56 · 7 answers · asked by Anonymous in United States

Im trying to work out my monthly salary based on my yearly salary and the web page Im using is asking for a % of Tax I pay? Anyone know what it is?

2007-03-11 12:07:35 · 14 answers · asked by Anonymous in United Kingdom

i just started a job which i like alot except they dont take out taxes. i didnt fill out any forms or anything other then the original application. its a small bussiness and the owner says he is paying me as a contractor and i have to fill out a 1099. i dont know anything about this so maybe someone has an idea what i can/cant do. when they pay me they give me a photocopy of my time sheet and a check. what do i need to file for taxes? are they trying to pay me under the table?

2007-03-11 11:58:54 · 7 answers · asked by josh 1 in United States

Doing my taxes this year, I realized I didnt file taxes in the year 2002. I owed about $300 and Im kinda worried about it. I make under $25,000 and usually get a refund. What should I do? Should I just file it and send payment and hope they forget about it? I dont want to pay alot of interest and stuff. Should I let it go and hope they never notice? Help, I dont want the IRS at my door.

2007-03-11 11:40:37 · 4 answers · asked by Anonymous in United States

I used to work for a real estate company last year and they have since closed down. I've been waiting for my W-2's and they have never came. I contacted the IRS and they told me to contact my old business owner so I called her a couple of weeks ago and she said that she doesn't have money to pay someone to get them together so I'm pretty much screwed. I must have my W-2's to file my taxes otherwise I'll get in trouble with the IRS and I have to figure it out before the end of April. Any suggestions?

2007-03-11 11:37:10 · 6 answers · asked by lizzianne1104 1 in United States

My employer's local office never updated my address and now my w-2's are incorrect. It may effect my return and my mother's return since I just moved out within the last year and I'm over 21. Will I be able to acquire corrected W-2s?
Any (helpful, logical, honest, experienced) suggestions are greatly appreciated.

2007-03-11 11:30:28 · 4 answers · asked by simplycreative_2115 2 in United States

2007-03-11 11:27:09 · 3 answers · asked by John M 1 in Canada

Legal tax shelters,

2007-03-11 11:23:36 · 4 answers · asked by Andrew H 2 in United States

2007 tax return question

2007-03-11 11:12:39 · 3 answers · asked by Topaz 1 in Other - Taxes

I know that interests and dividends are unearned income.

And I know that wages, salaries and tips are earned income.

But what about short term capital gains?

2007-03-11 11:03:38 · 4 answers · asked by RockiesFan 2 in United States

personally responsible even if they sell the business. The amount owed is tens of thousands of dollars, which is much more that either of them can come up with. I will be buying the business for next to nothing, so there will not be any money coming from that. How do I avoid the IRS coming after me/my business if the current owners fail to pay up? Could they "go out of business" on a Friday and I "open a new business" on a Monday? I'm just tyring to avoid having to pay their back taxes.

2007-03-11 11:02:41 · 3 answers · asked by NASCAR_Guy 2 in United States

According to the IRS Refund Cycle Chart, my direct deposit should be sent on March 16. Will it actually show up in my bank account on that day? Or the day after/before?

2007-03-11 11:02:09 · 2 answers · asked by Anonymous in United States

I have some money invested in a sort of term deposit style fund because I am saving for a house. Now, I know the interest I earn in this fund is considered income, but if I leave it off my tax return, what are my chances of being caught?

The fund has my tax file number so they don't deduct tax from it at the highest marginal rate and I assume they will use it to report my interest earnings (income) to the tax office at some point.

But I was going to leave this fund off my tax return completely.

So, what are my chances of getting away scott free and not being audited by the tax office down the track? I'm thinking they would have bigger fish to fry than me so my chances look pretty good?

I pay tax on my work salary which I think is enough. It's not like I see benefit from it within soceity. Why give the Government more to plunder away when it could be used towards a house.

I have no guilt so if it's possible I will do it. Everyman for themselves in this world.

2007-03-11 11:00:29 · 8 answers · asked by Anonymous in Other - Taxes

2007-03-11 10:55:13 · 6 answers · asked by Anonymous in United States

2007-03-11 10:37:51 · 4 answers · asked by Lisa B 1 in United States

I got a check for $21 ( I know, exciting) from the taxation department. Does this mean that I don't need to worry about whether the IRS will come after me? Does it mean that they've checked everything and that it's okay? See previous question if you want more details.

Thanks!

2007-03-11 10:17:18 · 3 answers · asked by bones_to_heaven 2 in United States

My daughter moved out at 17 to live with her boyfriend, and then by herself to some land her mother owns. I pay her health insurance and in divorce papers have full custody. My daughter told me to claim her on my taxes. I think her mother is committing welfare fraud and using my daughter to get foodstamps. My daughter says that her mother is NOT going to file taxes which I assume is because she technically is claiming to be separated from her husband and does not have enough income. I've already done my daughters taxes, and put down that someone else was claiming her, she got back everything she paid in. If I claim her on my taxes I know the 1040 form asks "how long lived with you". What should I put down? Any input you have on this would be appreciated, as I am totally ignorant in this area, but want to do the right thing.

2007-03-11 09:58:04 · 4 answers · asked by Lance 3 in United States

2007-03-11 09:54:29 · 5 answers · asked by pg h 1 in United States