Taxes - March 2007

So many hard working people ending up owing at Tax time even tho they have worked and paid into the Tax system but people on social assistance who haven't worked a day or paid into the system get money back Why?

2007-03-05 15:23:09 · 4 answers · asked by cottontop 1 in United Kingdom

2007-03-05 15:22:46 · 4 answers · asked by star m 1 in United States

Do you know how far back you can file your income taxes? I did not owe any money but was due a small refund. I'm not interested in getting the refund, I just want to file the late return.

QUESTION: Do you know if income from 2001 can still be filed?

2007-03-05 15:19:45 · 5 answers · asked by Debbie 1 in United States

Received a 1098 from Sallie Mae for my student loan interest deduction. It did not include the interest paid on my private student loans. The Sallie Mae website provided information that all of my student loans may not be eligible for the interest deduction. My interest was over $4,000.00. During a divorce ,while in college, I took student loans for living expenses, transportation, books, supplies and tuition. How do I determine the total deduction allowed? The 1098 reflects that $632.00 was reported to IRS. How do I determine if I qualify for the maximum deduction of $2500.00?

2007-03-05 15:06:05 · 3 answers · asked by Dee 1 in United States

Last autumn while I was looking for a new job, I racked up $400 in cell phone usage (due to daytime usage from phone interviews and constantly checking voicemails). I know that some job-related expense can be claimed as a deduction, but how about cell phone usage in this case? I have the bill and can exactly specify which phone calls were for jobs.

2007-03-05 14:57:11 · 4 answers · asked by Shasta McNasty 2007 2 in United States

2007-03-05 14:52:54 · 3 answers · asked by brianatm6 2 in United States

I called my last jobs accountant today and was told I got a 1099-MISC form for $550 which represents bonuses. I never recieved bonuses for this amount. I did do teaching in the jewelry store and made and sold pieces to the store - but was always paid from the owner on business checks. I assumed I was paid as an employee but now they are implying I was an independent contractor - which isnt true. I did all the work in the store and never invoiced for anything. What do you think is happening here and what should I do?

2007-03-05 14:23:40 · 5 answers · asked by JB 2 in Other - Taxes

Can I get a tax deduction for having a loan on my car last year ?
Is there any difference in hiring a Tax consultant and Filing it myself online if my case is straight, ie no additional income, mortgages etc, just one source of income and standard deductions.
Will an accountant be able to give me a better refund as compared to online filing

Appreciate it

2007-03-05 14:08:18 · 1 answers · asked by handu 1 in United States

Anyone out there know of a website where I could get an estimate of how much money I will get back from my income tax return providing information from my T4 slip I got from work? I just want an estimate of how much I'll get back.

2007-03-05 13:55:24 · 2 answers · asked by Anonymous in Canada

I am looking for a case in which someone has tried to deduct foreign language classes as an ordinary, necessary business expense on their Schedule C. I am a photographer, so I file a Schedule C on my tax return. I take private Spanish tutoring, and I'm doing it to improve my business - being bilingual is a great asset.

Anyone ever tried to deduct such a thing? Or do they know of a case in which the IRS let someone deduct it?

Extra points if you can site an IRS case proving it!

2007-03-05 13:54:29 · 4 answers · asked by Anonymous in United States

2007-03-05 13:42:16 · 4 answers · asked by kimberly t 2 in United States

OK. I am an independent IT consultant. I'm starting a contract position and will be getting a 1099 form and be responsible for my own taxes (whatever that means, need to find out).
I also recently started a consulting company, currently sole proprietorship, may incorporate by next quarter.

What are the differences in taxes if I have the company on this current contract pay me on a 1099 as an individual contractor, vs having them pay my company.

Would I pay less or more doing one way or the other? Benefits during the year vs year end tax filings? Need CONCISE info and/or sites to decide how I should request payment and handle taxes.

Thanks.

2007-03-05 13:13:23 · 3 answers · asked by answers999 6 in United States

I only use it for work. If it is deductible, can I also deduct the space where I keep the piano?

2007-03-05 13:12:36 · 3 answers · asked by pawt72 3 in United States

Purchased on Sept. 2004 for $10,000 and collected $11,000 on the date it matured Oct. 1 2006. What do I pay taxes on?

2007-03-05 13:00:28 · 4 answers · asked by m s 1 in Other - Taxes

I recieve county aid and wasn't employed but wanted a family member to claim my 6 yr. old as a dependent but when they attempted it turns out she had already been claimed by someone else. I have no idea who it might be and want to know what is going on and what can or should I do about this. Thank YOU

2007-03-05 12:16:33 · 4 answers · asked by Linda S 1 in United States

My wife and I file separate income tax returns. When deducting our mortgage interest and taxes is it ok for one of us to claim the interest, and the other claim the taxes? Both of our names are on the mortgage statements and accounts. Or do we need to keep them together?

2007-03-05 12:09:29 · 5 answers · asked by t m 1 in United States

2007-03-05 12:03:20 · 2 answers · asked by jclafontaine 1 in Canada

And now he is self employed. How would I go about doing the taxes for this situation? He received his w2 from Florida and his 1099 from Michigan (current residence). Do we file seperate state taxes and a combined federal? I will most likely have the done professionally but I am nervous about what we may end up owing...so I want to check it out without fully filing. Also, If I have no income should we still file married filing joint?

2007-03-05 11:56:54 · 3 answers · asked by MClay 1 in United States

2007-03-05 11:45:37 · 5 answers · asked by Nikki H 2 in United States

I am planning to file for a deceased person, but that person did not have any will or executor for his estate, what happens if there is a refund?

2007-03-05 11:12:23 · 2 answers · asked by Melanie P 3 in United States

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2007-03-05 10:47:58 · 2 answers · asked by billy t 2 in Other - Taxes

do you have to file taxes if you sell avon?

2007-03-05 10:22:05 · 9 answers · asked by girl_of_your_dreams_1331 4 in United States

My fiance and I live together and both provide for our daughter (born in 2005). can we both claim her as a dependent since we both provide for her? Or can still only one of us claim her?

2007-03-05 10:20:52 · 9 answers · asked by Brie G 2 in United States

Last year it seemed to take longer for me then everyones else even though I sent mine in on Jan and they did it last second. How long does it normaly take to get the refund back?

2007-03-05 10:18:38 · 4 answers · asked by mdqwn 1 in United States

2007-03-05 10:16:46 · 2 answers · asked by Lisa S 1 in United States

I am a small business owner and have been developing my company for the past year. Because I left my previous job to start this business I do not have a current income and because my company only recently officially "opened for business" we do not have a profit line. Do I need to file? What about the business expenses that I incur?

2007-03-05 10:09:43 · 4 answers · asked by greg b 1 in United States

Hello,
I would like to know the proper length of time that a outstanding student loan is held against me regarding tax refunds, I have had my outstanding loan since 1991 and still get calls and letters pertaining that the government will not be issuing me a tax refund.

2007-03-05 09:54:39 · 0 answers · asked by trippy71_2000 1 in Canada

I have asked this question before and received varying answers. Here is my Situation:
I lived in VA and had a VA job.Last Sept I got married and moved in with my Spouse who has always been a MD resident and has a MD job. Once I moved my job took notice of my change of adress change and deducted MD taxes.
I have a question about the state filing. I know that for Federal we can file jointly: no problem.
How do we file state? I have tried to file MD married joinlty part year resident and that form is fine.
What about my VA filing? When I try to file a part year married jointly for VA they want to know the dates that I lived in the state and the dates my spouse lived in VA, which is never. Do I leave that question blank? Or,Do we do MFJ for MD part yearand I do MFS VA part year Or,
should MY SPOUSE just do MFS MD and MYSELF do MFS MD **and** MFS VA?? Is that allowed?Please answer only if u know..I cant afford proffesional I'm tryin 2 do this myself. Thanks questions? sati021@yahoo.

2007-03-05 09:51:37 · 2 answers · asked by lanena 2 in Other - Taxes

i e-filed mine on the feb 21 2007 - i just call the irs the told they will procees mine until the march 14 2007

here is message i got from the irs is- my refund date of march 6 2007 was change to march 20 2007 due to processing delays

do anybody have a good idea why they change and when am i actully getting my refund by the mail only ?

2007-03-05 09:21:32 · 3 answers · asked by djmichael2008 1 in United States

My wife and I claimed Married - 1 on our taxes. If it wasn't for education credits, we would of owed quite a bit of money this year. We make about the same amount of money. Would we still owe if we claimed married -0, just not as much, or would we get a refund?

2007-03-05 09:21:25 · 4 answers · asked by MovieBuff 2 in United States