Taxes - April 2007

We just purchased our first home and i was wondering what kind of things we can write-off?? We are keeping reciepts for everything but i'm not sure which ones need to go into our tax file, thanks!

2007-04-10 07:58:08 · 8 answers · asked by Jennifer 3 in United States

2007-04-10 07:47:55 · 3 answers · asked by JJ 2 in United States

IRS has sent me both 2120 & 8332, both require her signature to let me claim exemptions for youngsters, she refuses to sign either. Will a copy of the divorce decree work? And if so must it be a raised seal copy from the courthouse? Thanking any and all in advance for info!

2007-04-10 07:47:45 · 6 answers · asked by Scott G 1 in United States

I'm moving to Oregon from Idaho and I would like to find out how much Oregon is going to take from my paycheck.

2007-04-10 07:46:07 · 2 answers · asked by Anonymous in United States

My soon to be ex husband seems to think that because we have 2 kids that he gets to claim one of them when he files taxes. They are with me and as of right now I do not I don't receive any financial support from him. I claim the exemptions for both children. Can he do that?

2007-04-10 07:34:47 · 6 answers · asked by JT 1 in United States

We have 2 homes the 1st was our residence until approx 2 years ago. We had a tenant for 1 full year. We have since "sold" the home to an invest. co. The way it works is everything stays in our name but they basically lease to own it and receive all tax advantages etc until it sells. I'm sure I'm not explaining this well.
Anyway, my question is this..during 05/06 we had a tenant in the home and we lost money every month, when she moved out she basically destroyed the place. We lost several thousand on rental income because we could not rent out & it just sat there. She never paid for damages/fees. We only paid a couple hundred to other people, we had to do everything ourselves & buy cleaning supplies.
Should I depreciate those 2 years (I have not as yet)? How do I enter our losses since we did most of the work, not rentable & could not afford to pay someone else to do it. The home should sell in a year or 2 and be out of our name. I am using turbo tax to file. Do I amend last year?

2007-04-10 07:33:28 · 3 answers · asked by rsf 3 in United States

2007-04-10 07:30:05 · 12 answers · asked by Zack R 1 in United States

2007-04-10 07:27:53 · 3 answers · asked by Anonymous in United States

I am a PhD student and recieved a federal grant. Do I have to pay income tax on this money?

2007-04-10 07:09:02 · 5 answers · asked by t456 1 in United States

Is there any exception to the rule of not being able to use the standard deduction when filing separately when the other spouse filing separately itemizes? Or, can a husband (salesman with unreimbursed business expenses) file separately and itemize on a schedule A, and the wife (home business) file separately and itemize on a schedule C?

2007-04-10 07:08:47 · 3 answers · asked by jeffindfoodinc@sbcglobal.net 1 in United States

We purchased land in Dec 2006 and are in the process of building a new house on it. I was offered a better paying position with my current employer that would require me to move to another state. We have not physically lived on the property but it is our "primary residence" because we are renting the house we are living in now. Would the 2 years start from when we purchached the land or when we finish the house? Would we have to pay capital gains on the money we made if we took that gain and put it down on a new home in the state in which my new job was? Please help. Thanks

2007-04-10 06:59:16 · 4 answers · asked by Lynette H 1 in United States

2007-04-10 06:59:08 · 10 answers · asked by Mets009 1 in Other - Taxes

What can we do besides increase our charitable giving significantly to reduce our tax bill. We already both claim married but withhold at a higher single rate. We have one child but all of the advantages are being phased out. Should we just hvae money taken out specifically for taxes, or are there ways to reduce your tax bill that can be beneficial all the way around. Any help would be appreciated. Thanks.

2007-04-10 06:56:34 · 9 answers · asked by GoodSonInLaw 1 in United States

taxes, irs, 1099

2007-04-10 06:55:38 · 4 answers · asked by a_norcal 1 in United States

Its not a fee to get a driver license, and its not a fine. (both of which would not be allowed as deduction)
Its basically a state tax on the number of points you have gotten. So would it be deductible as an "other tax"?

2007-04-10 06:49:37 · 2 answers · asked by Andrew G 2 in United States

... I pulled quite a few small checks out of my stock last year in increments of $50.00. I didn't claim them on my taxes this year (i didn't know I needed to). I got my refunds from State and Federal already -- what do I need to do?

2007-04-10 06:37:05 · 3 answers · asked by T S 1 in United States

his income is solely from a fast food restaurant where he worked part time.

2007-04-10 06:18:44 · 6 answers · asked by gracegptx 2 in United States

I filed taxes taking the Ira deduction, now due to family emergency I cannot buy the IRA Does anyone know If I can pay back the difference in my refund or get an extension to purchase them thanks

2007-04-10 06:09:10 · 7 answers · asked by terri s 1 in United States

I have one job, and one W2. But my tax guy is helping me get a Schedule C so that I can do sidework.

My wife had three W2 forms and we both filed on the same day with the same guy. She got her state and fed return within 5 days and we both have direct dep into the same account.

Does the Schedule C slow mine down? or is there another step Im missing?

2007-04-10 05:57:40 · 2 answers · asked by sbravosystems 3 in United States

This year was an Independant Contractor paid on a 1099 as well as having a second business sole prop. Do i file a sched c for each business or how do I lump everything into one?

2007-04-10 05:46:46 · 6 answers · asked by rsp5300 1 in United States

I have a large number of deductions because of a home business, so maybe I won't be paying taxes on it. I did put away enough $$ to cover the 28% if I get hit. Should I worry about it or let the IRS find it and send me a bill?

2007-04-10 05:44:24 · 4 answers · asked by pamela r 2 in United States

we wont be able to file our tax forms in time. What do we do in order to file an extension with the IRS

2007-04-10 05:33:49 · 3 answers · asked by lucky12ys 1 in United States

I will be asking questions to help create dialogue around this and many other important topics. Please add me to your Answers Network so that we can exchange ideas about the new generation of challenges that we face and then work together to build a brighter future for all Americans.

2007-04-10 05:23:41 · 12302 answers · asked by Anonymous in Other - Taxes

Our son is 19 years old and a full-time student. He received a 1099m for $1092. We claim him as a dependent. Does he have to file? He referees soccer games. If he has to file, what category do I put him in?

2007-04-10 05:22:22 · 2 answers · asked by Kat 2 in United States

for modeling

2007-04-10 05:20:55 · 6 answers · asked by Anonymous in United States

I have all my W2's and forms, but what can I include as deductions for my accountant?

2007-04-10 05:13:00 · 1 answers · asked by Answerman 3 in United States

Neither one works, they are both disabled he is 65 and she is 62. do they have to pay state tax for Oklahoma.

2007-04-10 05:12:11 · 3 answers · asked by Steven 6 in Other - Taxes

include that in your income to pay taxes on it.
If your only income is social security and this pension. No outside income neither one works. But they are worried that they have to pay taxes on this 400. a month pension.
since you paid taxes on it when you earned that money to put into your pension plan. He is over 65 she is 62

2007-04-10 05:09:56 · 2 answers · asked by Steven 6 in Other - Taxes

When you file tax's do you report the current or prior year? Like I know taxes are due on April 17? or something like that. So does that I mean I file for last year or this year (2007). I'm 17 years old and would like to know. Also if you didn't make any money do you have to file tax's?

Thank you 4 help

2007-04-10 05:01:58 · 5 answers · asked by Anonymous in United States

I went through a really bad divorce in 02, and I lost everything, my child support is nearly 50% of my income, and im barley scrapin by. I stuck my head in the sand financially, and i guess emotionally for a few years, and just sort of "hid" from responsibilities other than keeping sheltered, fed, and supporting my expensive ex-wife. I have paid taxes, but I havent filed in three years! What do I do? am i in allot of trouble?

2007-04-10 04:55:21 · 12 answers · asked by dave25357 2 in United States