Taxes - April 2007

I've already contributed to my traditional IRA for tax year 2006. I want to open a SEP retirement account and contribute to it INSTEAD of the traditional IRA. Can I transfer that contribution to the new account as if I had done it directly for tax year 2006?

2007-04-17 13:13:09 · 3 answers · asked by jeffreyropp 1 in United States

I know if I pay by midnight there isn't a penalty, so no need to tell me that. What's the penalty on 7 bucks, at one day late?

2007-04-17 13:11:03 · 6 answers · asked by sushishishi 5 in United States

Has anyone ever done this and what should I do so I don't get them returned to me and have to pay a penalty or interest?

2007-04-17 12:51:39 · 11 answers · asked by lcritter55118 4 in United States

Ok. I paid my state and federal taxes and mailed them last week. Today, I got my federal back in the mail. I DIDN'T PUT A STAMP ON IT! My husband is mailing it right now. But, I'm sure I did the same thing with my state taxes, and I don't have those back yet...

What do I do? What is the penalty for being 1-2 days late? I owed a whopping 7 bucks.

2007-04-17 12:50:04 · 7 answers · asked by BaBweight 1 in United States

I been on Yahoo answers for several hours and can't figure out why so many people are wasting their time asking tax questions here when they could just read from the IRS booklet or go to the IRS.gov website.

2007-04-17 12:31:28 · 6 answers · asked by Robert W 6 in United States

I am getting a refund but need a couple of extra days to file so I'm filing an extension request. The form asks for "Estimate of total tax liability for 2006" but I'm not sure what that is! Is that what I paid in or what I would owe if I did owe? Help!

2007-04-17 12:15:58 · 5 answers · asked by Courtney 2 in Other - Taxes

2007-04-17 12:09:45 · 2 answers · asked by Big Flower 2 in United States

2007-04-17 12:03:57 · 3 answers · asked by Meaghan S 1 in United States

im a full time student. how do i enter this on turbo-tax

2007-04-17 12:01:41 · 5 answers · asked by Kenneth M 3 in United States

The IRS levied my employers account and we are a small business and all that money was for payroll. Does anyone know if the IRS can not levy payroll funds if they are labeled payroll. The IRS say they can do whatever they want. Does anyone know if they can do this or not. I need a specific code if they can not levy payroll funds. Thanks for the help.

2007-04-17 11:56:47 · 5 answers · asked by kat 1 in United States

She passes all of the criteria for 'qualifying child' or 'qualifying relative', but what worries me is that 'parent' is not listed on the information sheet. I need to know if she will qualify the Head of Household for a 2nd EIC credit, a difference of over one thousand dollars in refund. Can taxpayer take the EIC credit for 2 dependents, himself and Mother, is the question; she does pass all criteria . Thanks

2007-04-17 11:56:18 · 1 answers · asked by Karakul 1 in United States

Hi,

I had a loss last year for my business and want to know if i can take that loss on my gains for this year? if so? Where on Schedule C do i do this?

thanks
Steven

2007-04-17 11:52:30 · 3 answers · asked by steven11us 1 in United States

do I need to get an extension from the state irs also?

2007-04-17 11:47:06 · 4 answers · asked by i_am_t_o 1 in Other - Taxes

2007-04-17 11:46:38 · 3 answers · asked by Kenneth M 3 in United States

2007-04-17 11:44:49 · 3 answers · asked by Brittney S 1 in United States

How much do you have to earn to file taxes. ex. If I made under $3,000 then do I have to file my taxes or not?

2007-04-17 11:34:00 · 3 answers · asked by everwing 2 in United States

As H4 visa holder do not have ssn.So can some one open an account in bank if someone have tax id number.

2007-04-17 11:31:48 · 3 answers · asked by Anonymous in United States

I am starting my first year of school and have taken out $11,000 in student loans. I am electing to pay the interest only payment on the loans, while I am in school, so the balance doesn't increase.
Can anyone explain to me the different education tax credits that are available? Also, am I able to take a tax credit AND deduct the interest paid on my loans (We already deduct the interest on my husband's student loans. He has been out of school for about 6 years now.) ?
Also, someone told me that I could deduct mileage for driving to school, is this true?
Any information on education related deductions and credits would be helpful, I am new at this. Thanks.

2007-04-17 11:30:30 · 3 answers · asked by saratgoo 3 in United States

and if so what persentage iv had answers from yes to no to it mite be so be spacific and give sources please thanks in advance
$185,000 lawsuit
$129,500 after lawyers fees
???? if it taxed or what and if it is taxed please give a %

2007-04-17 11:28:01 · 2 answers · asked by lblmessage2 1 in United States

Do they really check the postmark on every tax return they get, and ding you if it's late? I filed mine on time, I'm just curious.

2007-04-17 11:25:01 · 3 answers · asked by rainfingers 4 in United States

Short version: Began renting out my home in 1997. ( we were still paying for it.) Looked back at taxes prepared for that year and CPA set $55,316 as basis for depreciation. We actually had done many thousands more improvements to the property. (at least $20,000) and for some reason he did not include those. What can I do? Where on tax forms do you even LIST improvements you make ? can I change the basis for depreciation?

2007-04-17 11:05:26 · 1 answers · asked by justaname48 1 in United States

2007-04-17 10:54:30 · 1 answers · asked by annonymous 2 in United States

WHAT WAS MY INDIVIDUAL FEDERAL INCOME TAX PAID FOR 2005 IN 2006

2007-04-17 10:44:30 · 4 answers · asked by GASTON SHEKANE 1 in United States

My W2 has a line 17 for State Tax of New Mexico, but I've lived in Washington all of 2006, seems my employer hasnt updated thier info and Washington has no state tax. Do I want to include that line when filling out Turbotax? I would think not.

2007-04-17 10:41:59 · 2 answers · asked by optik_0v3rd0se 2 in Other - Taxes

Copies to IRS, or those copies are only for your records.
Thanx

2007-04-17 10:33:05 · 4 answers · asked by STA-TOW 5 in United States

i work as a chef for an agency, and they say i can't be self employed anymore cos of sum changes in tax laws or sumthin and say i should be able to set myself up as a ltd company.

What are the pros and cons of doing this and how mite i go about it?

i only really work for about 3 months solid in the summer and then sporadically during term time (studying my way out of the kitchens)

Thanks in advance.

2007-04-17 10:32:44 · 2 answers · asked by pledger166 2 in United Kingdom

if so, what percentage is deducted from your paycheck?

this is UBER urgent!!

2007-04-17 10:27:23 · 5 answers · asked by Anonymous in United States

Percentages don't have to be down to the last penny. I'm just curious for a rough estimate. Does the government withhold 15, 20 25% of your wages?

2007-04-17 10:22:00 · 5 answers · asked by hockeyjon04 1 in United States

2007-04-17 10:21:43 · 1 answers · asked by trale l 1 in United States

2007-04-17 10:05:57 · 6 answers · asked by Anonymous in United States