Taxes - April 2007

Do I need to file both State and Federal tax returns, if my dividend income is about 23,000 USD, a deductible for one child and not employed. What are the names of the forms that I need? I am in the state of California, and all this time I've been using H&R, and this time I have to do it myself, so please someone help me! Ty!

2007-04-04 16:30:47 · 7 answers · asked by economiss 5 in United States

I just started a home based business and would like to know when and how do I pay taxes to the Internal Revenue Service? Do I have to register my business through the IRS as well? The only tax I know how to pay now is the sales tax that I collect from customers. I live in Clearwater, Florida which is in Pinellas County.

2007-04-04 16:16:25 · 2 answers · asked by Anonymous in United States

I did the online thing and my refund would be 12$ but I don't want it. I would rather let them keep the 12$. Is it possible to be audited for this? Is it illegal to just let them keep the 12$?

2007-04-04 15:45:17 · 3 answers · asked by Anonymous in United States

I was in a car accident and incurred 7600 in medical bills not including my copays I had already paid and prescription costs. Since it was related to a car accident my medical insurance demanded I reimburse them.I received a settlement from the at fault parties auto insurance company. And with some of that money I was able to repay my medical insurance provider. Does that money I had to reimburse count as tax deductible medical expenses or am I asking for it if I claim that?

2007-04-04 15:34:34 · 2 answers · asked by LanaRene 2 in Other - Taxes

I represent a foreign company that is based and registered outside US. Need to know what kind of IRS forms I will need to file. What are the things I need to take care of to report earnings. I am not registered in US, but do business with US corporations.

2007-04-04 15:07:39 · 1 answers · asked by Anonymous in Other - Taxes

If I am e-filing, do I need to mail in my W2's?

2007-04-04 14:02:00 · 5 answers · asked by hahaman 2 in United States

2007-04-04 13:54:23 · 9 answers · asked by 06` 1 in United States

2007-04-04 12:42:02 · 4 answers · asked by m. michelle l 1 in Other - Taxes

I'm doing taxes for 2005 (yes i'm slow), but i'm in a pickle here. i was 1099'd, but I don't have access to those documents anymore, and further I can't track down that former employer...

is there ANYTHING i can do to find out how much was reported that year from previous employer? any other options....?

2007-04-04 12:33:59 · 3 answers · asked by Stan 1 in United States

I actually already filed completely ignoring my ebay income but just for next year or an audit or whatever. How much do I have to make to have to file? Do I simply file as self employed? Is there any way I can create a yearly invoice from ebay or my purchases? Mostly I buy at yard sales and resell so how can I count that? Sorry this is so fragmented but thanks for the advice.

2007-04-04 12:15:23 · 4 answers · asked by colorist 6 in United States

If you invest 35K in a business, the business goes under and you take a total loss, when you claim it on your taxes, about how much of it will you get back?

2007-04-04 12:03:41 · 3 answers · asked by Anonymous in United States

Does anyone on here receive this? How hard was it to get started and how long did it take?

2007-04-04 11:43:48 · 3 answers · asked by Betsy 7 in United States

I have some capital losses in the year 2005. but didnt realise they couldbe tax deducted last year. Can I deduct in this year's filings?

2007-04-04 11:42:55 · 3 answers · asked by arun 2 in United States

Do they get interest? How about each individual state IRS? Do they make interest?
Thanks ppl!

2007-04-04 11:36:53 · 3 answers · asked by shania3949 6 in United States

2007-04-04 11:36:25 · 2 answers · asked by Diana 2 in United States

2007-04-04 11:32:14 · 4 answers · asked by jaceofbase 1 in United States

Unfortunately, we made a significant amount more money this year, and didn't withhold enough so we ended up owing $2000. Since my husband started a new job in May of last year, he'll be making even more next year due to working a full year at the new job. So now I need to figure out how much we need to withhold throughout the year to avoid paying next year.

I assume I should count on at least $2000 additional. But how can I figure out how much more than that we need to hide away?

I do W4's every year and I still find them confusing.

FWIW, either or both of us will increase the amount we contribute to our 401(k) and his 457. I figure if we can't have it on hand to spend it might as well go toward retirement!

2007-04-04 11:27:29 · 5 answers · asked by Anonymous in United States

i like and i'm using H&RBlock TaxCut2006. then i just realized that TaxACT2006 is installed with the former. am wondering what's the difference between the two. am i at any point needed to use the latter? i thought the former is all i need to complete my taxes.

2007-04-04 11:24:26 · 2 answers · asked by toocool4skool 2 in United States

What do they mean when they ask:
Enter the amount of the student's (and his/her spouse's) income tax for 2006 (question 36):

This information may be on the following forms:

* IRS Form 1040 - line 57;
* 1040A - line 35; or
* 1040EZ - line 11.



WHAT DO THEY WANT FROM ME? What form are the talking about? Would this be my W2 form? or would it be in the paper work that Jackson Hewitt did, and gave back to me, pplease explain as if explaining to a child! I don't know about these taxes...PLEASE HELP!!!!!!!

2007-04-04 11:21:49 · 4 answers · asked by Korbyn's Mama 2 in United States

2007-04-04 11:15:55 · 4 answers · asked by Anonymous in United States

2007-04-04 10:54:38 · 4 answers · asked by Nancy R 1 in United States

2007-04-04 10:52:49 · 3 answers · asked by Nancy R 1 in United States

My mother won money from gambling and had to claim that,but is it possible to deduct her loses as well and if so how can she do this.

2007-04-04 10:52:01 · 6 answers · asked by Ruth S 1 in United States

I am unemployed and dependent on my mom for support.For the past several years all I have earned is a minimal amount of unearned income(below minimum amount to file) on a savings account and a certificate of deposit. I heard from someone that you should file for the past six years because the IRS can hold you criminally responsible if you didn't file and should have. I know I don't owe any money, but should I back file for at least the past six years? I am also concerned because I am applying for state health insurance(for low income and poor people)and the insurance program wants my social security number and they will use my ssn to check my latest tax form. If they don't find a tax form will I be in trouble with IRS or possibly be audited? Also if I did back file, do I have to pay a late filing fee for each year(I think it is a $100.00 per year) even though I won't owe any taxes. Also, is there any reason to backfile beyond six years if I don't owe anything?

2007-04-04 10:33:31 · 4 answers · asked by sherri e 1 in United States

Have you prepared your taxes yourself and seen your tax liability jump by more than 15% when entering your capital gains. My experience this year is that my net tax on cap gains is closer to 22%.

2007-04-04 10:27:30 · 4 answers · asked by srshaw 1 in United States

My wife and I are separated and are filing "Married Filing Separately" (Her choice). If in the future, if I want to "revisit" my 2006 taxes, can we refile those taxes under "Married Filing Jointly?" If so, how long do we have to do that?

Thanks!

2007-04-04 10:22:39 · 5 answers · asked by Kevin H 1 in United States

I work one day a week at home (four others in the office). I bought a laptop (don't have the receipt) and would like to claim it as an exemption. Can I? If so, what form in TurboTax is it under?

2007-04-04 10:20:55 · 4 answers · asked by Kevin H 1 in United States

2007-04-04 10:05:25 · 6 answers · asked by Omor 1 in United States

I am a student receiving federal grants, Cal grants, and subsidized and unsubsidized loans. I received money from welfare for part of the year and didn't work last year. I have a daughter as well. Am I required to do taxes? I don't think so since I believe federal grants and welfare isn't taxed but just wanted to make sure. Thanks.

2007-04-04 09:54:27 · 5 answers · asked by justmeeh 2 in United States

I have LLC in Florida and I my accountant is saying that I must file the form 1120 (file as a C Corp) instead of filing the form 1065.
So, my question is if I can file a LLC as a C Corp.

2007-04-04 09:52:23 · 2 answers · asked by Anonymous in United States