Taxes - April 2007

My stock broker started trading my account on margin and incurred significant losses, resulting in a large capital loss carryforward, $400,000. I sued and ending up going to arbitration before the National Association of Security Dealers. I was awarded $550,000. I asked the folks who did my tax return last year, Paynomore Taxes, and they weren't sure how to handle the $550,000 relating to these losses. Can you help?

2007-04-14 08:50:04 · 3 answers · asked by strawberry2007 1 in United States

Hi, We have a home office and we have some office expenses that we weren't able to declare in our previous income tax. Can we declare it this year?

2007-04-14 08:49:54 · 3 answers · asked by chumsai 1 in United States

My employer incorrectly set me up to pay both Michigan and Georgia taxes. I should only be paying Michigan taxes. They have corrected their mistake by creating a W2c which shows I shouldn't have paid anything. Do I need to file anything with Georgia?

2007-04-14 08:42:09 · 4 answers · asked by cappuccino_mi 2 in United States

So I just filed taxes. According to my W2, no federal income tax was withheld from my paycheck, and only $66 for state income tax. (Basically, fields 1 through 14 are empty, except 1. Wages, tips, etc, which is around $4200)

I have a couple thousand in deductions from money I paid for higher education. However, if there are no taxes paid, then what is there to deduct from right?

So why would Turbotax suggest that I will get a federal refund of $323 ? Refund of what? I didn't pay them income tax according to my W2.

I don't want to file this before I'm certain this is correct, so I don't have to pay it back later...

2007-04-14 08:29:28 · 6 answers · asked by Anonymous in United States

Im trying to file my taxes as we speak online and I read somewhere that for TX we dont have to file State Tax only Federal...is that True?

2007-04-14 08:28:18 · 3 answers · asked by jc207 2 in United States

2007-04-14 08:25:45 · 2 answers · asked by amazed 3 in United States

I worked part time last year for a short period of time. I made under 3000.00. Do I have to file if i made under a certain amount?

2007-04-14 07:32:20 · 3 answers · asked by Diego M 1 in United States

I purchased a stock in 2006 and sold it in early 2007 for a loss. Can I report this loss on my 2006 taxes?

2007-04-14 07:30:12 · 4 answers · asked by S in Texas 2 in United States

I have see April 15th and 17th for this year

2007-04-14 07:21:53 · 12 answers · asked by Ceej 1 in United States

2007-04-14 07:16:11 · 2 answers · asked by michelle w 1 in United States

2007-04-14 07:14:08 · 5 answers · asked by Anonymous in United States

anyone great a math to solve this challenge? if i have a 200,000 dollar mortagage at a fixed 5.125% apr for a fifteen years, would i benefit more by saving money if i make an extra month mortgage payment per year towards the principal or would i save more money if i did not pay the extra mortgage and took advantage of the tax deductions when i do my taxes?
if you also have read a book that would address this challenge, that would help, too...thanks

2007-04-14 07:10:18 · 3 answers · asked by ogg08 5 in United States

HELP! i have had some tax problems over the years so i am trying to work out a deal for some past taxes that i owe.well they noticed i was going to we again this year so they had me make a tax payemnt of $315 to be credited to 2006 . so i ahve just done my taxes and it comes up with me oweing $430.00 the only thing is I dont know how to credit the $315 payment I made to the IRS the only paperwork i have is a copy of the money order with the IRS recieved stamp. does anyone know how i can incoroprate this into my filing so i can pay less . thanks

2007-04-14 06:28:08 · 1 answers · asked by r o 1 in United States

My boyfriend and I were discussing this the other day since he is a little irresponsible. I have already done my taxes. He was using my tax man for his. His have been done for a little over two weeks but he has yet to pick them up. He does not owe any money and has a refund coming to him. I keep telling him the deadline to mail them is on Monday April 16. (I have heard there was an extension but I didn't know if it was because the 15 was a Sunday so is this the correct date). He calims that he can mail them late with no penalty because he is owed money. Is he right or will he have a penalty deducted from what he is owed?

2007-04-14 06:26:34 · 4 answers · asked by Just Me 1 in United States

2007-04-14 06:22:14 · 1 answers · asked by Amir M 1 in United States

2007-04-14 06:08:46 · 3 answers · asked by Kevin H 4 in United States

2007-04-14 06:07:27 · 3 answers · asked by dbbedford 2 in United States

2007-04-14 06:06:03 · 3 answers · asked by Lisa D 1 in Other - Taxes

do i pay taxes on the same income twice?

2007-04-14 05:50:15 · 5 answers · asked by DANIEL H 1 in United States

I did an internship over the summer and received a stipend that was considered a 1099. However, the funds were used to purchase my flight, etc., and I didn't actually make any money off of it. I actually lost money! I'm using TurboTax and now find that I have to pay some large sum of money and that I'm considered a business but am a broke student. Is there any way to get out of this? Am I doing something wrong? Would appreciate any advice. Tax day is soon...

2007-04-14 05:47:31 · 2 answers · asked by Anonymous in United States

I am a student and I made $600 last year according to my W-2, but I took out alot of student loans and was living off of those. Do I need to file a tax return and do I need to claim the student loans as income?

2007-04-14 05:38:48 · 3 answers · asked by Anonymous in United States

... I am trying to decide whether I should be claimed as a dependent on my parents' taxes... i live with them, im 21 yrs old and I work... im also a student.... if there is any other info that might be important to know, let me kno :) thanx...

2007-04-14 05:19:11 · 2 answers · asked by DevilsKitty 2 in United States

A lawyer I work for in part, she has me listed as "contract" so she doesn't have to pay taxes on all of her cash income which goes unreported. But she's supposed to give me a 1099 because she has not been withholding. I need to contact the IRS police or something.

2007-04-14 05:17:37 · 4 answers · asked by Anonymous in United States

My friend says that interested earned in MMA is not real because almost everything goes to taxes. Is that true?

2007-04-14 05:11:55 · 3 answers · asked by truefreedom21 3 in United States

I mamade around 5000 and paid 300 in taxes, the tax sofware is saying I will collect around 600 back. also am i college so I collected some loan for school.

2007-04-14 04:58:54 · 4 answers · asked by dan_sarki 1 in Other - Taxes

I filed joint taxes with my husband through H&R Block. I went ahead and took the money now check from them. Our tax refund came to total of $2800. After my spouse use most of our tax refund I receive the offset notice stating that $1725 was owed to the government due to child support. My husband told me he had no other kids yet his ex claims child support on him. I want the portion of my tax refund back. What is the procedure in order to claim my own income tax refund back from an offset because of my husband's irresponsible issue?

2007-04-14 04:56:17 · 3 answers · asked by ariesmegs 2 in United States

the address is different on the filing and the voucher.

2007-04-14 04:10:33 · 4 answers · asked by newhampshirejxn 1 in Other - Taxes

I have a normal job that I get a W-2 from and I also coach a basketball team. The organization I coach for gave me a 1099-MISC w/ income shown in box 7. I have expenses and mileage that I know I can write off. Do I use a schedule C?? The final income (after expenses taken out) will be only a couple hundred dollars.

2007-04-14 04:01:08 · 3 answers · asked by Joe 2 in United States

2007-04-14 03:59:20 · 1 answers · asked by newhampshirejxn 1 in United States

On filing State tax most of the states have their own website to file them for free. Do I really have to use turbo tax and other software and pay them for filing state tax?

2007-04-14 03:50:29 · 2 answers · asked by Leo 2 in United States