Taxes - March 2007

It says a credit will be given if I contribute a regular IRA or a Roth IRA? I know that there is no deduction for Roth but a credit is given If I contribute.

2007-03-28 12:10:32 · 3 answers · asked by JOE D 1 in United States

Okay, is it legal for my mother to claim my daughter as her dependent and claim all her expenses AND I claim her for my EIC? I live with my mother but pay all my daughters expenses and just want to let my mom get the dependent deductions???

2007-03-28 12:04:56 · 1 answers · asked by Anonymous in United States

2007-03-28 12:02:50 · 3 answers · asked by hyna_8 1 in United States

2007-03-28 11:59:15 · 5 answers · asked by Anonymous in United States

last summer i worked a job for a private summer school. i was paid $2200.

i e-mailed the person who runs it, and they said that no 1099 was produced by their bookkeeper and that that means they didn't report it.

do i have to claim it? how so?

thanks in advance : )

2007-03-28 11:57:10 · 6 answers · asked by Bret G 2 in United States

2007-03-28 11:51:08 · 4 answers · asked by Anonymous in United States

Can I deduct the cost of keeping my deceased mother's possessions in a storage garage during the past year? I was the executor.

Also, can I deduct any of the expenses paid to move her things to my home 650 miles away? Just the mileage deduction alone would be worth it.

Thanks!

2007-03-28 11:47:57 · 6 answers · asked by gg 7 in United States

My husband's employer has repeatedly shorted his checks during the year. Can we deduct that underpayment as a business-related expense, or can we deduct it in the "theft/loss" section?

2007-03-28 11:45:46 · 4 answers · asked by gg 7 in United States

I was wondering if subscriptions to investment newsletters can be deducted while filing taxes. Normally - these need to go over a 2% of AGI cap for them to be deductible. However - if these can be considered a business expense - then it might be deductible - right?

2007-03-28 11:30:34 · 2 answers · asked by ra 2 in United States

If i dont have a bank account . . .

2007-03-28 11:14:02 · 3 answers · asked by Tami 1 in United States

i owe 100 so its not much but why if they take out money each paycheck do they need more at the end? im 24 noone claims me as a dependent and when i filled out my tax form pre hire (i dunno what form it is) i only put down 1 (enter 1 for yourself if noone can claim you....) what can i do to not owe money every year

2007-03-28 11:13:16 · 5 answers · asked by Christopher 1 in United States

Me and my daughter live with my mom. I work a full-time job this year and make more than my mother, but she still pays for the house, bills, etc. I pay for ALL my daughter's expenses. Can my mother still claim head of household without a dependent (my child)? I would like to claim my daughter this year but my mom would end up paying more if she does the "single" thing. HELP! I can't claim head of household because i do not pay for much of the house things right? Not sure how this works. I've tried researching it and it just says my mom can claim head of household using my child but my child can't be claimed on anyone else's taxes (that would be mine). I need help really bad.

2007-03-28 11:10:22 · 8 answers · asked by Anonymous in United States

2007-03-28 11:07:59 · 9 answers · asked by Sky 2 in United Kingdom

Because minors cannot vote why do they pay income tax or the payroll tax? If we did abolish the income tax for minors what would happen?

2007-03-28 11:05:49 · 4 answers · asked by Saket J 1 in United States

I have been waiting on a w2 and have not recieved it.

2007-03-28 10:46:26 · 4 answers · asked by kathyg1010 1 in United States

I have been waiting on a w2 and have not recieved it.

2007-03-28 10:45:58 · 4 answers · asked by kathyg1010 1 in United States

My mom claimed me as a dependent in her taxes. Can I do my own taxes because I worked last year? Can I claim dependents as well?

2007-03-28 10:34:58 · 6 answers · asked by titaalex 1 in United States

I filed for my state and Federal Tax Returns March 8th of this year and was wondering if there is a way besides the internet I can track my Federal and CA State and Oregon State Taxes? I just want to know the status of each one and more info of when it may come or what not. How can I do this?

2007-03-28 10:26:39 · 2 answers · asked by Anonymous in United States

2007-03-28 10:20:36 · 2 answers · asked by vgigaijin 1 in United States

1099C...for rental property that was sold in 2006?
I received a 1099c for a home that was sold as part of a real estate short sale. The home was my residence for 3 years and then was rented out for 15 months. The home was rented from April 05 until it was sold in Sept 06. I know I have to file the 1099c but will I be able to use a form 982 to exclude the debt by claiming it to be qualified Real Property Business debt.

2007-03-28 10:19:38 · 1 answers · asked by gr8tfriend 1 in United States

In 2006 I lost about $200 in bad stocks. Can I elect to carry the loss over to 2007?

I'm asking because I'm not sure if carryovers only apply to amounts over $3000. My loss was $200 in total.

Thanks.

2007-03-28 10:08:13 · 4 answers · asked by Vacation hungry 2 in United States

My husband's social security income was about $6000, and I had about $27 000 income. Cam I claim him as a dependent? How should I file, Married, filing separately? Married, filed jointly? Or single, and claim him as dependent?

Thanks for your answers.

2007-03-28 10:06:13 · 9 answers · asked by melinda1351 1 in United States

I sold my home and bought a different home last year. My Realtor rebated several thousand dollars of his commission back to me on the purchase transaction.
My normal income is just a pension and my spouse and I both receive Social Security. My tax man says I do not normally have to file and haven't for a couple years now.
I am being told that I have to file this year due to that Realtor rebate and that I will have to pay self employment tax on the rebate amount received.
Another tax man told me that it was not earned income (I didn't do anything for it - it was just a way of the Realtor discounting his fees) and that I did not have to pay self employment tax.
What is the right answer?
Does it matter what kind of 1099 is issued?
Where do I go for reliable answers.......?
PLEASE HELP!!

2007-03-28 09:47:59 · 4 answers · asked by jd4iam 1 in United States

2007-03-28 09:42:06 · 16 answers · asked by creditease 3 in United States

I am kind of confused regarding my tax preparations. I am aware of some tax consultants who might be able to get me more money than some of free/paid online tax softwares.

When I spoke to them then they are indicating that there are some exceptions in my case which might not be included in tax preparation software.

I am wondering if some of these are not accepted by IRA who will be liable for the mistake/extra money that I might get in refunds. Does this comes back to me because I hired the tax consultant or the responsibility will fall on consultant since he is the expert. Please advise.

Thanks

2007-03-28 09:39:32 · 8 answers · asked by timepasse 2 in United States

Whats a good software besides Turbo Tax for filing taxes .
Software should be:
Inexpensive
Able to file taxes for different states if the person has moved.
Handle investments (Stocks)

2007-03-28 09:36:53 · 5 answers · asked by Leo 2 in United States

I received an email that said the following. ..
Is it true? Comments?

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program He promised:

1.) That participation in the Program would be completely voluntary,
2.) That the participants would only have to pay 1% of the first $1,400 of
their annual incomes into the Program,
3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
4.) That the money the participants put into the independent "Trust Fund" rather than into the General operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,
5.) That the annuity payments to the retirees would never be taxed as income.

2007-03-28 09:34:47 · 4 answers · asked by Greywolf 6 in United States

2007-03-28 09:29:18 · 3 answers · asked by sparkle 1 in United States

i need to cash a 401 k refund check no banks in my area will cash it without a checking account i'm in the saratoga ny area can anybody help please

2007-03-28 08:43:10 · 3 answers · asked by Anonymous in United States

Is it $40.00 each year ($120.00) since 2003 or is it $40.00 Total? Can you file an ammendment if you have already filed taxes?

2007-03-28 08:21:14 · 6 answers · asked by B*Family 4 in United States