Taxes - April 2007

Can I deduct what I owed/paid last year as a loss for this year on my Federal taxes? Ive read you can do this for state taxes.

2007-04-16 12:45:08 · 3 answers · asked by Anonymous in United States

2007-04-16 12:40:42 · 2 answers · asked by ruth f 1 in United States

2007-04-16 12:34:47 · 4 answers · asked by ggg 1 in United States

2007-04-16 12:27:26 · 3 answers · asked by rams3142 1 in United States

Can I claim my parents on my tax return as dependents? Both of my parents don't live with me and my dad is currently receiving housing assistance and SSI. My mom is currently receiving GA (general assistance), and food stamp. I need to know because I want to get all of the deductions that I'm entitled to in order to maximize my deductions on my taxes. Please advice!

2007-04-16 12:15:49 · 2 answers · asked by Ethan 1 in United States

Since other agencies and corporations can get audited by the IRS, I was wondering if someone actually audits the Internal Revenue Service and all their files to make sure they are following procedure and keep accurate records. If so, who does the audit? The Department of Treasury? The CIA?

2007-04-16 12:00:12 · 4 answers · asked by radioactive_babywipes 3 in United States

With the government pushing for electronic direct deposit for tax refunds, instead of a paper checks, does it seem plausible that at some point, they will try to require online tax filing, to cut down on paperwork? The reason that it's important is because this would make everyone vulnerable to identitiy theft. I don't do any banking online of any kind for that reason.

2007-04-16 11:52:46 · 4 answers · asked by Anonymous in United States

I have a job and am 17. I got my first paycheck and they took out a sizeable amount for med, ss, state, and income taxes.. I filled out a w-2 and was considered tax exempt. Now my question is, AM i completely free from being taxed? Are there taxes they must burden me with? Any insight to this would be nice...

2007-04-16 11:50:56 · 3 answers · asked by Chimmy C 2 in United States

ok.. i'm only 19 and this is my first time filing my taxes. so i'm more than a little confused.
i have a 1099 from my current employer for the last part of 06 (july-dec 31 2006)
and i have a 1098-T sent from the comunity college i was attending the last half of 06.(Aug- de. 31 2006)
now i've tried to get my W2's from a previous employer (feb 06 - July 06) but they won't return my calls to get needed information to send me my w2's.
i've talked to the irs, they said send in a 4852 in replacement of those w2's.
is there another form i need for a student loan that i took in May of 06?
( i'm not paying back this student loan yet..not untill July of 07)

furthermore,
are the papers my employer and the college sent me what i send to the Irs? or do i use those papers to fill out other papers that i send in?

thanks. i know these questions are kidda lame, but NO ONE has helped me at all...

2007-04-16 11:29:32 · 2 answers · asked by menstrual_slushie 1 in Other - Taxes

I knowthat in order for you to be considered a business rather than a hobbies, three of the last 5 years need to be profitable. I have always claimed a business loss based on my 1099 income but make deductions as a "performing artist" which covers both roles. I only have a small percentage of my income from 1099-misc this year, but have the same expenses as last year (less actually). Almost all of my income is W2. My two-fold question is: 1. Can I, the "W-2 receiving ACTOR" file Schedule C, as self-employed since the W-2's come from payroll services for the various commercials I do. 2. In determining eligibility as a business: If I include the "W2 receiving Actor in the equation, then I am profitable " If I only count my 1099 income, then the years of loss don't qualify for schedule C. And yet the combined expenses for being a performing artist always bring my 1099-misc income as a model to a loss. It costs me more to

2007-04-16 11:29:30 · 4 answers · asked by JD Common 1 in United States

I'm on a teacher salary and had to pay more then I thought and put me in a bind. What should I claim so I don't have to pay anything or very little at the end of the year???

2007-04-16 11:25:47 · 2 answers · asked by selina34_1 1 in United States

1. On federal return, you can deduct the tax you paid to CA state. Now when you file Form 540 for CA, TurboTax seems to put your state income back to your taxable income, as if you can only deduct paid state income tax on federal return, but not for CA return. Anyone knows why?

2. On federal return, you can carry over $3000 capital loss. Somehow when you file CA tax, TurboTax suddenly put a lot of capital gains to the "addition" of the CA adjustment, as if you not only can't use the capital loss carryover, but have to pay a lot more for your recent gains? Is TurboTax buggy for CA returns?

Thanks!

2007-04-16 11:22:19 · 3 answers · asked by mind_river 1 in United States

r u a democrat or republician ?????

2007-04-16 11:21:39 · 13 answers · asked by Anonymous in Other - Taxes

2007-04-16 11:21:37 · 2 answers · asked by Yvonne C 1 in United States

If you google checkmate 1040, there is a case about a man from Peoria IL who didn't file a 1040 and was prosecuted, but the case was dropped because his defense was that the 1040 is an illegal form. The gov didn't want to have a whole lot of questions about the 1040 come up in a trial so they were the ones who asked the case be dropped. Is this for real, and is there a way to legally not have to pay taxes.

Please if you don't have any legal training don't pull the scared-of-the-gov answer out of your butt that "oh you better pay or big brother is gonna get you."

2007-04-16 11:07:56 · 4 answers · asked by Anonymous in United States

i am single with no kids and i over pay and got a nice refund at the end of the year. Is it possible to not over pay so much but still not owe at the end of the year?

2007-04-16 11:02:33 · 5 answers · asked by tommypski 2 in United States

I've heard that there is a way that you can give back your ss number and some other things, but you are not obliged to pay.

2007-04-16 10:42:05 · 7 answers · asked by Anonymous in United States

I'm thinking about turning my online selling into a business, and I'm trying to get a feel for the tax-related pros and cons of making it official.

Here are 2 questions:
(1) I understand that I can write off business expenses on my tax returns. That includes computer equipment, trips overseas to purchase merchandise, etc. But I've never itemized my tax return before. Would I get more money back if I start a business, and then itemize my deductions rather than just taking the default deduction like I always do?

(2) If I make my online selling into an official business, will I have to pay extra business-related taxes?

2007-04-16 10:29:57 · 3 answers · asked by Jack 2 in United States

If I bought a stock and sold it the next day for a profit then bought it again and sold it for a loss within 30 days, am I suppose to take the loss and apply it to my cost basis for the first purchase? I am using Turbo Tax and when there is a wash sale event, it assumes that I held on to the stock for the rest of the year. HELP!

2007-04-16 10:15:38 · 2 answers · asked by nycjoe29 2 in United States

If you receive a 1099-MISC, what kind of paperwork or receipts should you file away during the year that would help with taxes and deductions? Is there a way to have money directly deducted from your pay to go towards taxes?

2007-04-16 10:11:53 · 2 answers · asked by Madonna U 1 in United States

2007-04-16 09:55:35 · 6 answers · asked by cat21159 2 in United States

I lived in a place where the water, like the sewer, was free...i.e, paid for by local taxes. Now, where I live, the water is billed separately (sewer is still bundled with the local taxes.) So is water supply billed separately considered a tax?

2007-04-16 09:52:01 · 5 answers · asked by Rob 2 in United States

I filed exempt on the w4. Should i change that info?


7.20 per hour /bi weekly pay/single /mom files me as a dependant


if i make $342, i get taxed $57. Will changing my exempt staus make the gov take less taxes out of my check.

2007-04-16 09:50:03 · 4 answers · asked by sweety 3 in United States

can I claim my wife and 2 stepchildren if we have been seperated since last May?

2007-04-16 09:42:41 · 6 answers · asked by Kevin T 1 in United States

2007-04-16 09:36:10 · 3 answers · asked by smithville_oakland_seattle 2 in United States

2007-04-16 09:25:38 · 5 answers · asked by Tasha R 1 in United States

2007-04-16 09:24:01 · 7 answers · asked by Stephen L 1 in United States

Can I still use the 1040ez instead of the 1040 if i have $50 in capital gains? Will I be penalized for not reporting $50?

2007-04-16 09:22:53 · 2 answers · asked by Dan K 1 in United States

2007-04-16 09:18:14 · 2 answers · asked by bambieyes66 1 in United States

Can I deduct gas? lunch? coffee? car wear and tear? Any great tips on cutting my tax amount?

I work as researcher/web manager in DC and live in MD. Thanks!

2007-04-16 09:17:48 · 0 answers · asked by maggie 2 in Other - Taxes