Taxes - April 2007

What is the tax percentage of online gambling winnings?

2007-04-27 10:43:40 · 7 answers · asked by Anonymous in United States

H&R Block told me this. I'm a student and I'm not familiar with doing taxes.

Because your tax liability is less than the amount of your Education Credit, the amount of your credit is limited from $1354 to $841.

p.s. I filed an extension already for personal reasons.

2007-04-27 10:11:53 · 8 answers · asked by melissa13182 3 in United States

Anyone have some pseudo legit reference for the number of people who don't file / pay their federal taxes

2007-04-27 10:00:03 · 4 answers · asked by Arch Teryx 3 in United States

I'm a student who is working a few jobs (2 of which use 1099's). Last year (2006 tax year) I brought in about a $17 tax refund.

I'm planning on paying quarterly tax payments but won't start the new jobs until next week. Are you able to start making quarterly tax payments anytime and is there a penalty for starting late?

I was thinking that the IRS wouldn't care as long as they received their money prior to/on tax time. I'm completely open to any recommendations or suggestions you may have. Thanks in advance for your help you can provide!

2007-04-27 09:45:42 · 9 answers · asked by thamamasboy 1 in United States

does H&R block have to pay me if they messed up on my taxes...they didn't file for my state taxes..i called the irs and they said there is nothing on file there of it and that they never filed for it that is why i did not get it

2007-04-27 09:44:15 · 4 answers · asked by myslippersarepink 1 in United States

I have a friend who is about to inherit $15,000 from the selling of some land (capital gain).

Last year (2006 Tax Year) they owed about $15,000 in taxes because of the first income from the land.

How would you suggest paying for taxes (since they don't receive the money till later this summer) and would you strongly encourage quarterly tax payments? Secondly, is their a chart on how much tax they would owe on the $15,000 capital gain? Thanks for any help you can provide.

2007-04-27 09:42:04 · 6 answers · asked by thamamasboy 1 in United States

Employees have filed their tax returns and have recieved money. Is he going to owe the IRS or are the employees. Is he going to jail, he is really freaking out? ? ?

2007-04-27 09:27:05 · 7 answers · asked by Chelsie M 1 in Other - Taxes

how can i find out when my earned income tax credit refund was mailed to me?

2007-04-27 09:07:23 · 4 answers · asked by Charlene P 1 in United States

My husband just started a new job. When filling out the tax papers, he claimed 6 tax exemptions.
- one for himself
- one for me
- one because I don't work
- one for our baby

and I'm not sure what the other 2 were for. He got his first weekly paycheck and only $1 came out for federal. Could we end up owing money at tax time next year? Can he go back and change the number of exemptions? Should he?

*Thanks. I obviously have no clue when it comes to this.

2007-04-27 09:04:40 · 10 answers · asked by *Just Married* 4 in United States

she has a small business- 3 employees- and reported my income in the self-employment line on the 1099 she sent me. my taxes were astronomical as a result. but i don't think i'm actually an independent contractor. i work sewing clothing for her from 9-5 mon-fri. she pays me by the hour and tells me what needs to be done every day. it looks like the irs says this is a regular employee. on the side, i do my own art that i show in a gallery. so that counts as self-employment. but for the sewing job, is she commiting fraud at my expense by reporting me falsely as an independent contractor? what should i do about it?

2007-04-27 08:54:29 · 13 answers · asked by Carly 3 in United States

When you sell your primary place of residence (lived there 10 years), do you have to include the money you made on the sale after property taxes are paid and the mortgage on your income taxes? Is it considered an income?

2007-04-27 08:30:14 · 12 answers · asked by Anonymous in United States

Socialized healthcare is going to require that amount, just as with Canada. What will you do to protect yourself that's legal, that's not quite legal?

2007-04-27 08:06:08 · 5 answers · asked by BS,MS,Ph.D 2 in United States

Do you think this would encourage doctors to devote a couple of days a month where they only saw uninsured patients? Do you think this would help people without insurance gain access to care?

2007-04-27 08:03:26 · 6 answers · asked by hillgirl2277 2 in United States

2007-04-27 07:37:44 · 6 answers · asked by Dora G 1 in United States

Where on the IRS site can I get a copy of a 2004 and 2005 W-2?

2007-04-27 07:05:01 · 6 answers · asked by Andrea C 1 in United States

I'm considering asking for a $50,000 loan from family to help me make a $100,000 down payment (in order to avoid PMI). This loan would accrue interest and I would make payments on it like any other loan... Could the interest be tax deductible?

If not, is there another way to go about this that would be effective?

2007-04-27 07:03:25 · 6 answers · asked by cuztis209 4 in Other - Taxes

If you have a LLC business and you own 100% share, and you take money from the profits of the business, is this not classed as income and have to declare this on your tax returns?
I am asking this as my friend's husband isn't declaring this and she is worried that she may get into trouble through her husbands deceit.
He is only declaring income when he pays himself, but not what he takes from the profits.
Is this legal?

2007-04-27 06:51:24 · 5 answers · asked by sweet_h 3 in United States

One of the questions on the college application is: Are you claimed as a dependent or are you eligible to be claimed as a dependent by a parent or court-appointed legal guardian?

I'm 18, i pay my own taxes, claimed 0 on w-4 form, but I live with my parents, and i don't pay rent or or pay for anything other than my phone bill. Am i a dependent?

2007-04-27 06:42:19 · 8 answers · asked by Anonymous in United States

i have won money out of the usa. should i pay for money that i have won?

2007-04-27 06:02:21 · 9 answers · asked by camel_60_07 1 in United States

2007-04-27 05:53:19 · 6 answers · asked by Nite R 1 in United States

Would I be prohibited from traveling overseas if I owe taxes from a previous tax year?

2007-04-27 05:37:36 · 4 answers · asked by Lois L 1 in United States

my employer has not included the Dec 2006 which is paid in Jan 2007 in the W2form . when questioned he says that the dec 2006 salary was paid in Jan 2007 and hence not included. This means he works fro dec to Nov only . is he correct?

2007-04-27 05:12:15 · 5 answers · asked by chitrabanu 3 in United States

what will that result in?

2007-04-27 05:08:38 · 3 answers · asked by spindymindi 3 in Other - Taxes

This is my first times ever working because i'm young. and i waned to know if i will get any taxes back when i fail.

2007-04-27 04:52:22 · 4 answers · asked by Anonymous in United States

I am from Asia.

2007-04-27 04:46:45 · 5 answers · asked by pearlho31 1 in United States

I was wondering if your employer is supposed to take out federal and state taxes or if it is optional, I'm pretty sure that they are supposed to by law. I got my pay check on Wednesday and they didn't take out federal or state taxes on it.

2007-04-27 04:22:50 · 10 answers · asked by Anonymous in United States

If a person gives me a 1099-Misc Income and does not file the 1096 with the IRS, what happens then? I claimed the income and paid SE tax on it but what about the 1096-can it still be filed?

2007-04-27 03:35:57 · 2 answers · asked by Laurie S 1 in Other - Taxes

2007-04-27 02:30:03 · 5 answers · asked by BEN E 1 in United States

2007-04-27 00:36:27 · 4 answers · asked by sherman4159 1 in United States

Does anyone know what this means? I checked a website that gives all of the IRS reference codes, and all it says is 'reserved'. Any help would be greatly appreciated.

2007-04-26 23:59:09 · 1 answers · asked by kjundlite 1 in United States