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Taxes - April 2007

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We used it for our taxes, but still need it to fill out state. Should we ask the company for another copy?

2007-04-12 15:25:36 · 5 answers · asked by Miss America 4 in United States

I have heard on the radio that Paying taxes is not a law, that it is optional but yet there are people who do NOT pay taxes at all. Is there anyone out ther who knows anyting about this as well as the law of 1913 that supports this??

2007-04-12 15:18:59 · 7 answers · asked by Divin4Dollars 2 in Other - Taxes

I know that we would need to spend the 11,000 or so in adoption expenses in order to get that matched in credit, but how does the tax credit actually work? If we fill out our taxes and we are getting a refund of say $500, do we get the credit on top of that or do we have to owe money in order to receive any of the credit?

2007-04-12 14:51:20 · 3 answers · asked by taking a trip 2 in United States

When you sing tax form it is with the understanding that if you file false information or purjur yourself you can be proseuted..

Since you can have 4 different tax professionals do your taxes and all will come out with a different answer and you can ask the irs for help but by thier own amission the people in the irs dont understand the codes well enough to help, than how can all of this be legal? Under the 5th amendment of the US constitution dont i have the right not to self incriminate?

2007-04-12 14:49:57 · 2 answers · asked by winetaster6 2 in United States

If I lost my original W2 forms, can i send it copies of it?

2007-04-12 14:41:08 · 1 answers · asked by aznfro54 5 in United States

2007-04-12 14:30:25 · 7 answers · asked by Sue C Q 1 in United States

I have a traditional IRA with $10,119 in it and I would like to withdraw this money to buy my first house. According to the IRS website, I can take an early withdrawal of up to $10,000 for a first house without paying the 10% penalty. If I withdraw the full amount, would I only be charged the penalty on the $119 or would I have to pay it on the $10,119 since it is more than the maximum amount I am allowed to withdarw without the penalty?

2007-04-12 14:22:04 · 5 answers · asked by Beaker 1 in United States

I am 18 years old and have a checking savings account and own a credit card. I worked for my dads friend and he just wrote me a check for a job. It happened couple of times and ammount wasnt big either. He never mentioned anything about taxes. There is no real proof that I worked for him
What should I do?

2007-04-12 14:07:44 · 7 answers · asked by D M 1 in United States

How can I calculate point of diminishing returns for overtime net pay?

Workers earn a base pay of $26.55 per hour for a 40 week. Some workers work as much overtime as they can get, others only work 10 of overtime or less. The reason has caused a debate over the point of diminishing returns for working over time due to the amount of taxes that is taken out of the pay check after 10 hour. Basically it seems that the ratio between net pay and hours worked starts to drop after 10 hours. This is due to tax brackets, and the tax brackets are based on the IRS formW4 exemtions claimed.

So how do I get the numbers for the tax brackets based on all combinations of exempts, so that I can make calculations for point of diminishing return? I want to be able to graph hours worked and net pay after taxes.

Gross pay is ease to figure
40 hours x 26.55 x 1.0= $1062 (no overtime gross)
45 hours x 26.55 x 1.5= $1792 (5 hours of overtime gross)

how do i apply the federal tax withholdings?

2007-04-12 14:00:20 · 3 answers · asked by daddeo01905 6 in United States

A question was posted about tax reform, and all the responses that got "thumbs up" suggested the flat tax, and all the responses that were rated poorly suggested raising taxes for the super rich. Do people feel this way?

Before you think the flat tax is so wonderful, consider this: if you tax everyone at the same percentage, you are actually taxing their DISPOSABLE INCOME at different percentages.

If the flat tax was 10%, and I made $12,000 a year, I would be taxed $1,200. Doesn't $1,200 seem like a lot of money to someone who is only making $12,000? Every two weeks, fifty dollars is taken out -- money that is badly needed to pay groceries, for gasoline, etc. 100% of my lost tax money would be reducing what I could spend on life expenses, not luxuries.

However, if I made $120,000,000 ($120 million a year), I would lose $12,000,000 in taxes. How much of that twelve million will be going to pay groceries or fill a gas tank? Probably none. It would all be vacation/luxury money.

2007-04-12 13:50:31 · 17 answers · asked by Anonymous in Other - Taxes

Watch this video and the truth shall set you free

http://video.google.com/videoplay?docid=6994111921004029996&hl=en

2007-04-12 13:44:39 · 3 answers · asked by winetaster6 2 in Other - Taxes

for the working class. when the rich get money they keep it. Did you ever do any work for a rick man and try to get paid for it?????

2007-04-12 13:43:59 · 12 answers · asked by roy40371 4 in Other - Taxes

I received a a percentage of the estate for acting as a non-professional personal representative. It was for an individual and did not include a business.
Which form to I use to declare this on my personal income tax as income?
Federal and Wisconsin if possible

2007-04-12 13:27:33 · 1 answers · asked by Paulymon 1 in United States

Is there a certain way to attach them?

2007-04-12 13:23:44 · 5 answers · asked by Anonymous in United States

Some 40 yrs. ago, the corporations in America paid an avg. of about 20 to 25% of Net profits; the avg. Joe paid about 7-10%. Today, You, Joe and I pay anywhere from 22 to 38% and the top 1000 corporations pay 2 to 0.0%, (actually, many get $$$ back from Uncle Sam). Did you get a $1.2 million dollar chk. back from the IRS this year?

2007-04-12 13:19:50 · 3 answers · asked by kip k 1 in United States

I had to sell my (main) home in 2006 because I was almost out of money. I was almost out of money because I was laid off in 2005 and was almost at the end of my funds. (I have not worked since then because I am currently in graduate school so I presently have no income other than school loans.) I did, however, have a 401k and still do. Do I qualify for an exception to home sales tax? (This is all in California btw)

2007-04-12 13:19:31 · 5 answers · asked by Anonymous in Other - Taxes

My husband and I both do work on the side (of my regular, salaried job) as independent consultants throughout the year. So far we've made about $10,000 -- so we know we have to pay estimated tax at least on that at least.

But there's a possibility we'll make up to 30,000 more over the course of the year -- but it's hard to know for sure what the rest of the year will look like. My husband may get a full time job.

SO... should we base our April estimated taxes on 40,000?? (It's about $2500 per quarter.)

WHAT HAPPENS if we end up making a lot LESS than that... are we still obliged to pay $2500 every quarter?

What happens if we win the lottery and suddenly have to pay a lot more than that??

It seems crazy to me that you are supposed to guess how much money you'll make all year in April to determine estimated tax payments.

I know you can use the Annualized method, but that still assumes you know how much you'll make total -- and just divide it differently.

Help?

2007-04-12 13:10:12 · 4 answers · asked by Alexa 2 in United States

She has no social security # but she has an ITIN#.

2007-04-12 13:03:54 · 3 answers · asked by Anonymous in United States

What is Value Added Tax (VAT). Who pays it and how is it calculated?

2007-04-12 12:46:21 · 4 answers · asked by Johnny S 1 in Other - Taxes

I just filed my taxes... I owe almost the same amount in federal that I am going to be getting back from state... I can't afford to pay my federal taxes on time... Is there any way that you can have the state send your refund right to the federal government to cover your federal taxes?

2007-04-12 12:45:53 · 5 answers · asked by travis R 4 in United States

Tax Inquiry: I am an writer who has pulled down over $250k from major publishing companies over the past 18 months. Only this money has been deposited in a company bank account; a company which pays every expense having to do with publishing my work and operating the same. I have never received a pay check or salary from the company (an LLC) and have been struggling to get ahead (out of the black) over the past 3 years. Being a writer isn't all it's cut out to be! Meanwhile, I also don't have a personal bank account, nor do I have any assets to speak of, unless you count my written work.
My question is: should I be filing taxes?

2007-04-12 12:44:37 · 5 answers · asked by Rel 1 in United States

i also dont get a w2 i get a 1099 because i am self employed

2007-04-12 12:19:22 · 4 answers · asked by ericamandella 1 in United States

i recently filed for my 2005 taxes, and i owed the state a certain amount , i did not pay this certain amount and i know that you have until april 17th to do your taxes. will i be punished next year with a bunch of fines or is it ok? i know i'm going to have to pay this amount plus maybe a little extra, i just don't want them coming after me with a lot of fines?.

2007-04-12 12:19:20 · 5 answers · asked by lisha w 1 in Other - Taxes

2007-04-12 12:16:59 · 3 answers · asked by alan_smith_999 1 in United States

If I have 10k earning 5% in a money market account, do I need to pay quarterly estimated taxes, and if so, how much? What if it is 100k? 500k? $1,000,000? $5,000,000? None of this makes sense to me. I ask some people they say no, I ask other people they say yes. And if you do have to pay them, where do you send the money?

2007-04-12 12:03:50 · 8 answers · asked by Anonymous in United States

Can I use TurboTax or Taxcut to file my taxes now? Since I have my W-2's I don't need to file 1040EZ now, correct? I am kind of confused on how to do this and luckily my mom is gone for another week out of town (can you tell that was sarcasm on the luckily?). If anyone would be kind enough to give me any advice or guidance, it would be greatly appreciated. Thanks.

2007-04-12 11:53:02 · 3 answers · asked by Anonymous in Other - Taxes

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