Taxes - April 2007

My husband is getting paid $12/hr this payroll gross was $918. The deductions are $278.40 (child support) and all the other taxes deductions. I see everything in order but they started also holding Philadelphia local Income tax for $88.04. I did know about Federal Income tax and PA income tax but this Philadelphia taxes I never herd of them and the withold amount is almost 3 times higher than the PA one. So he is only receiving $ $344.28 this payroll. Is this right?

2007-04-07 02:50:36 · 1 answers · asked by geniepr 2 in United States

2007-04-07 02:11:50 · 3 answers · asked by William S 1 in United States

2007-04-07 02:08:16 · 8 answers · asked by Anonymous in United States

Hi,
I'm an Australian citizen living in Australia and have been following the US stock market for years. With significant amounts of money to invest, I was just curious what is the capital gains tax rate for me when I sell my US shares after a year (so assume i'm a long term investor). Is it a flat rate? Does it count as income? Is there some sort of tax discount?

2007-04-07 01:45:03 · 2 answers · asked by mr_kelvintan 1 in United States

2007-04-07 01:18:29 · 6 answers · asked by Donna J 1 in United States

2007-04-07 01:04:59 · 5 answers · asked by OVERTHINKER 1 in United States

i claim jsa, my wife claims incap, we recive tax credits for our 3 kids plus child allowence for our 3 kids, also get help with rent, is there any other benifits we can claim?

2007-04-06 22:46:00 · 5 answers · asked by Anonymous in United States

Does termination from a previous employer go onto your personal records? If so which ones and how can others access this information?

2007-04-06 22:23:21 · 6 answers · asked by setexamplez 1 in United States

2007-04-06 19:18:53 · 3 answers · asked by crgcarroll 5 in United States

To stop encouraging single-parent and broken families, should the government only offer child-tax credits to adult husbands and wives who are both the parents of the child/children claimed on the return?

2007-04-06 19:15:01 · 8 answers · asked by Anonymous in United States

so it was a 2000 check, im claming no dependents, and i do not own a home, how much should they have pulled out of the check, they pulled out so much this time i just wanna see how it works, thanks in advance. :)

2007-04-06 19:08:15 · 4 answers · asked by jm 3 in United States

2007-04-06 18:56:22 · 5 answers · asked by Anonymous in United States

With regards to income tax what is an under payment penalty?

2007-04-06 18:32:43 · 3 answers · asked by lousakapolite 2 in United States

what happens if you make a certain amount of money for the year and then you add up your expenses and it comes out to be way higher than what you made?

2007-04-06 18:28:11 · 3 answers · asked by ~_~ 2 in United States

I am a supervisor for a large construction company. I build communication towers and spend much of the year in a hotel room. I use the computer for sending work pictures, turning in time,receiving e-mails on jobs, etc. Also I was wondering if I could get a credit or deduction for paying for my fiancee's tuition for beauty school. It was a little over $400.

2007-04-06 18:19:01 · 5 answers · asked by Anonymous in United States

I am in my first year as an LLC and I just closed a huge contract. My income from the contract will be about $450,000, while my expenses were about $250,000. I will have residual and normal income of about $8,000 per month after this closes.

I want to take out as much money as possible to pay off personal debt that I incurred while I was "out of work" and building the business. I also want to pay off other personal debt as well.

Therefore, I want to pay myself as much money as possible, but pay as little taxes as possible (of course). I primarily want to avoid social security and medicare tax. I understand I can't avoid the income tax. My wife helps me in my business, and I have two kids (both under the age of 10).

I have heard that if I pay myself the money as a distribution, then I don't have to pay SS and medicare taxes - but my distribution amount should not exceed my salary.

What is the best way to distribute this income and pay the least amount of taxes?

Thank

2007-04-06 15:53:02 · 4 answers · asked by Tony D 2 in United States

Or does it not matter when it comes to tax time? The other option would be to donate personally through my personal accounts.

2007-04-06 15:40:19 · 4 answers · asked by Anonymous in United States

unemployed for 2 years made it for taxes last year this year only have a 1099 for 1300 or so. what to do? file joint or what i have no w2s . wife works so what options are best for this situiation went from 36000 income to almost zero what will irs do any help from this inquire is appreciated or should i go talk to h&r block or somebody havent asked them yet
thank you please read between lines as puntuation and spelling not so good

2007-04-06 15:10:09 · 5 answers · asked by dude67 1 in Other - Taxes

I'm 20 years old, and I'm a college student. I have no clue if I should itemize my deductions or not. Also, I've received a few forms from my school telling me how much I have paid for tuition and the sort, where do I imput these amounts?

2007-04-06 15:05:32 · 6 answers · asked by FBF 2 in United States

these 3 people are qualify for head of household

2007-04-06 14:58:03 · 3 answers · asked by YY 1 in United States

dr from ms wrote out rx very medically neccssary for 57 year old to have a pool built she has seizures and cannot drive so this is her phsyical therapy the pool is 4 ft and 5 ft on each side and

2007-04-06 14:53:10 · 5 answers · asked by susan c 1 in United States

I fell in tax bracket of X last year and my salary is same today. But I have short term capital gains to file this year. So is the tax bracket X still apply for both my salary and capital gains or does it change based on the total of (salary + capital gains) amount?

2007-04-06 13:55:55 · 2 answers · asked by MTERA 1 in United States

2007-04-06 12:53:54 · 3 answers · asked by Debora G 1 in United States

2007-04-06 12:28:40 · 2 answers · asked by MeanGene 1 in United States

alsso where does the tax on cigarettes go on

2007-04-06 12:23:24 · 9 answers · asked by margaret o 1 in United Kingdom

2007-04-06 12:06:40 · 4 answers · asked by Vickie T 2 in United States

2007-04-06 11:26:16 · 3 answers · asked by Anonymous in United States

I may get a refund from my state for 2005 after I file an ammended return. How would I account for this on my federal taxes if the refund hits in 2007?

2007-04-06 11:15:09 · 5 answers · asked by kdog 2 in United States

We have a luncheon on the 28th and i need to know how much in advance to expect to spend.

Thank you for your help.

Terrie

2007-04-06 10:38:41 · 3 answers · asked by tj10@sbcglobal.net 1 in United States

What would people say if all churches,religions,cults money books were open for the public to view? Would membership in them decline or increase? What do they have to hide by being tax exempt ? Would things improve in our country if they had to pay taxes along with everyone else? Could it happen one day? Does anyone know of any churches that the money books are closed to the public?

2007-04-06 10:35:14 · 5 answers · asked by Anonymous in United States