Taxes - April 2007

I read that the complete tax code in paper form would exceed the rating for a 1/2 ton pickup truck. And although I don't make a ton of money I wouldn't dream of doing my own taxes just because I have multiple income sources.

Now those people who make a ton of money can afford tax accountants and tax lawyers to find every loophole to minimise the tax burden they bear. But to me it's just insurance in case the IRS comes after me.

Shouldn't the tax laws be simpler? I know it would put many CPAs out of business but wouldn't it be better if you and I didn't need a CPA to figure out taxes?

2007-04-11 03:56:41 · 5 answers · asked by namsaev 6 in United States

2007-04-11 03:51:45 · 4 answers · asked by Mustardayonnaise 1 in United States

2007-04-11 03:51:10 · 12 answers · asked by Anonymous in United States

I mailed my form off on march 10,07 after I had got my other returns back

2007-04-11 03:48:41 · 2 answers · asked by sxe_wife_of_4 1 in Canada

2007-04-11 03:31:38 · 12 answers · asked by patty s 2 in United States

2007-04-11 02:41:12 · 2 answers · asked by sth 1 in Other - Taxes

I just realized that I sent in an old check for my taxes...it's an account that I only keep a few dollars in. Therefore, the check bounced. I only owed $100, but still! So now what happens? Will I still get my federal refund?

2007-04-11 02:39:00 · 11 answers · asked by Dawn C 1 in United States

After receiving our tax refund, my wife received a form (believe it was 1099 or W-2) for income she received as a substitute teacher (minimal amount). Since we already filed and received our refund, what do I do?

2007-04-11 02:36:51 · 6 answers · asked by gratefuldad2002 2 in United States

i need to write a letter to the IRS apolofizing for not filing my taxes last year that will hopefully pull someones heart enough the they will reduce the penalties but i am not good at this sort of thing. any help would be apreciated.

2007-04-11 00:10:42 · 10 answers · asked by Anonymous in United States

Im a student, and only worked one day this summer.

2007-04-11 00:09:48 · 7 answers · asked by Anonymous in United States

Will my electronic check payment fail to go through?
I was off only by one number (out of four)
Do they match this up with the banks file before it goes through?

2007-04-10 23:07:13 · 4 answers · asked by ♫ Melody 3 in United States

i just found 1 of my w2 statements for this years taxes what do i do

2007-04-10 22:46:11 · 5 answers · asked by beverhunter69 1 in United States

I'm just starting a small business and am running it as a single member LLC. I know it will be taxed as a sole proprietorship. I'm just wondering what I need to do in order to figure if I should pay quarterly estimated taxes or if I can just wait until the end of the year. Is there a penalty for not paying estimated taxes as long as you can pay the whole amount at the end of the year? Any info or suggestions would be great.

2007-04-10 20:40:32 · 6 answers · asked by jwashburn00 2 in United States

I have no income, my husband left me with young children. Do I file taxes? Am I 'head of household' status? What happens if I put zero income (the truth!) on my tax form?
My husband is abroad and wants me to file with him because I am still married to him. Will it help me in a divorce if I do that (it would show we were married for longer)? Or is he trying to get tax breaks because of the children? He pays no child support as yet, he refuses to voluntarily. I haven't taken legal action.
He wants to file 'married filing together'; and put 'zero income' (true for me, but he earns a lot in Canada, but pays taxes there so he says that's OK).

2007-04-10 20:20:59 · 8 answers · asked by katy 1 in United States

Hello,
I worked part of the time last year as a W2 employee. However, I was expected to pay all my travel expenses (such as airfare, lodging, and car rental). What are the rules around deducting such expenses?

Thanks!

2007-04-10 20:15:08 · 4 answers · asked by ancawonka 1 in United States

I'm not from U.S but I'd like to know more about it. Please share.

2007-04-10 19:55:31 · 2 answers · asked by Lola 1 in United States

when I clicked print, the screen said it was sent to my email. When I checked my email, It was in PDF form but there were no figures. There were only personal information, like my names, address, etc. As if it was not filled up at all. I did it from the website of www. tax$imple.com. I sent an email to inquire about the empty information about the print. Reply said it will take 1-3 days to reply. By that time, it's already deadline for submition. Can I do it all over again in another accredited website of the irs and submit? Will there be any consequences if I submit again? I need help. Thanks. Pam

2007-04-10 19:42:47 · 3 answers · asked by pamela t 2 in United States

I'm hoping a tax expert is out there somewhere.

I'm no longer claimed as a dependent by my parents, I payed a good amount of college tuition this year, and also earned a good deal of money. Which form should I use? I heard I can only claim the tuition credit with a 1040A, but is that a lot more complicated than the 1040EZ?

2007-04-10 19:34:15 · 3 answers · asked by city_savvy 2 in Other - Taxes

How would I go about doing this?

2007-04-10 18:45:40 · 6 answers · asked by vcchick05 2 in United States

If my wife and I file jointly, since all my refund in prior taxes is taken by the government for an unpaid student loan will then our joint file be taken?

2007-04-10 18:35:21 · 2 answers · asked by Anonymous in United States

2007-04-10 18:17:40 · 2 answers · asked by alice b 1 in United States

I would like to buy about $5,000 worth of mucial and recording equipment which I consider mostly a hobby but may generate about $500/year. Can I form a business, claim those peices of equipment ascapital expenses, and claim a NOL on my taxes? will I get 100% back if I don't show a profit? Also, can I depreciate the equipement as well?

2007-04-10 17:59:33 · 4 answers · asked by Chris 2 in United States

I live in one state and work in another. Should I owe state taxes at the end of the year to my resident state?

2007-04-10 17:59:15 · 5 answers · asked by Sylvia 3 in United States

the IRS site. I am trying to print the one in the IRS site but for some reason is not printing it.
Thanks

2007-04-10 17:50:06 · 6 answers · asked by erika 2 in United States

The IRS owes me money I don't owe them anything however I just noticed that my W-2 forms are not anywhere to be found. Would the IRS come after me if I didn't send anything at all?

2007-04-10 17:33:23 · 6 answers · asked by Anonymous in Other - Taxes

I am using turbo tax. So do you put in the amount from freelance into the w-2 part of turbo tax? Or dont do that section at all. This is my first year doing this on my own.

2007-04-10 17:16:54 · 2 answers · asked by peterock594 2 in Other - Taxes

Haven't taken depreciation on my house I began renting out 10 yrs ago. It was a new house in '81'..we lived there till '97' . (original loan for $45,000...Improved value of house by a third)
Can I go back and take depreciation? Should I?
What figure is the house depreciated at? Is it according to the increased value (appreciated) figure (value it is today) or the original purchase in 81 price it at minus finance charges?

2007-04-10 16:27:13 · 8 answers · asked by justaname48 1 in United States

Why did my local H&R Block tax preparer not give me an itemized and complete bill for all of her tax preparation service? I paid her $328 for one hour of work-----that is almost $5.50 per minute. I think it was too much. Everything was neatly collated by schedules.

Why didn't she use the estimated tax forms furnished by the IRS and the SC Revenue Dept ?

Frankly, I feel that I was ripped off and see no reason to go back to H&R Block next year.

John A Faiola, Seneca, SC 29672
1-864-885-1005

2007-04-10 16:19:36 · 6 answers · asked by john f 1 in United States

2007-04-10 15:56:53 · 5 answers · asked by mulan 1 in United States

I just did my Federal income tax online and I am recieving $1200 back. I then attempted to do my state taxes and it says that I owe $1003 dollars. Every year I get a $1500+ tax refund, why would this year be different?? Why do I owe money? Could I have made a major mistake?

PS: I am a single 26 year old male...standard deduction

2007-04-10 15:40:37 · 2 answers · asked by Mrmojo6068 3 in United States