Taxes - April 2007

if it's a loan (even a no-interest loan), it's still not a gift, which the form 709 covers. any help here is very much appreciated.

2007-04-04 05:02:14 · 2 answers · asked by Ray 2 in United States

I work for a personal injury atty. All our clients who do attendant care for injured family members get 1099s from insurance co with either box 6 (medical care) or box 7 checked (paymnts to attorney). One client got her 1099 with box 5 checked (misc. nonemployee income), and her accountant says there is no way to deduct the 1/3 that comes out of her monthly check for attorney's fees. Does anyone know how to handle this?

2007-04-04 04:49:51 · 2 answers · asked by Susan F 1 in United States

I live in Florida. If I have to mail my W-2's and 1040EZ, where do I mail them?

2007-04-04 04:31:04 · 3 answers · asked by The JZA 2 in United States

Im on the verge of becoming a professional Sports Handicapper. What tax laws do I need to follow? How do I report? How much do I report? Who do I report to, Local, State, or Federal? etc...

I cannot find any answers anywhere, but I do know gambling is a taxable and deductable.

Thanks for your time and help.

2007-04-04 04:25:45 · 2 answers · asked by eXp 2 in United States

I have two 1099-INT forms both are over $10.00. Do I need to send copies of these forms with my W-2 form? Thank you.

2007-04-04 04:23:39 · 3 answers · asked by Wennderz 1 in United States

I work and live in different states. these states have a tax reciprocity. Which state do I need to file with. (Living state, working state, or both)?

2007-04-04 03:21:37 · 4 answers · asked by tkbk.natrb 1 in United States

i live in vista ca and taxes here are 8.25%. half a cent higher than other cities like oceanside or encinitas

2007-04-04 03:11:43 · 6 answers · asked by henrysol 4 in Other - Taxes

2007-04-04 02:58:52 · 4 answers · asked by calming 2 in United States

My husband and I are getting ready to do our taxes. We usually file a joint return. Last year I started a home business and need to report the money I made from the business. Can I file a Schedule C with just my business information with our joint return or do we need to file separately now.

2007-04-04 02:54:24 · 7 answers · asked by shrsandy 4 in United States

I don't throughly understand what the basis would be.
This is what I think, a person has $8000 in their account and they want to withdrawl it all.
If $5000 was invested (and wrote off prior) Then $3000 would be the basis (8000-5000=interest earned)
Early penalty is not in issue because of the 591/2 year rule.
So is this correct? If not please explain. Thanks!

2007-04-04 02:01:08 · 4 answers · asked by Kari 4 in United States

Last year I was told by a worker who was filing my income tax papers that this year I would not have to file,is this right?

2007-04-04 01:41:35 · 6 answers · asked by jesparza39@yahoo.com 2 in United States

im barelly going to file my taxes, kind of a last thing to do but i wanted to know if i can claim my son that was born 4 months ago?or do i have to wait till next year?

2007-04-04 01:21:35 · 7 answers · asked by Anonymous in United States

Once you are witholding money for taxes on your own (in an account earning interest), do you just pay your bill at the same time as everyone else is getting a refund?

2007-04-04 00:54:07 · 5 answers · asked by drf2684 1 in United States

2007-04-03 21:39:31 · 3 answers · asked by Anonymous in United States

My grandfather typically doesn't file a return because he receives only a small pension and is not required to. He received some 1099-C (cancelation of debts) this year; does that cause him to file a return to report the 1099-C? If so, this will cause a significant tax due which he will not be able to afford on his limited income. Any suggestions?

2007-04-03 19:38:42 · 2 answers · asked by branshome 1 in United States

What do you do when the non custodial parent wrongfully claimed the children as dependents and filed their tax return first. My E-file was rejected because my dependants had already been claimed. I am legally entitled to claim them as dependants. should I mail in a 1040 along with a copy of the portion of my Decree stating the fact and or do i need a form signed by my ex-spouse releaseing interest?

2007-04-03 19:16:49 · 8 answers · asked by Ryan S 1 in United States

She just gave back my w2 form yesterday and said she had already filed and claimed all of the deductions we had. She is a real estate agent and does not pay her taxes when they are due, I on the other hand pay taxes on every check and on top of that have paid her $65,000 in support this year. She says I now owe $14,000 to the irs. I know she lied on her return not to mention she hasn't left me much time to file on my own. what recourse do I have. Can I request an audit?

2007-04-03 18:59:27 · 10 answers · asked by Anonymous in United States

I own a partnership since July 2006. I haven't seen my schedule K-1 and I can't report taxes using 1065. Who should I go to? Note: I am in California.

2007-04-03 18:52:21 · 4 answers · asked by Kean 1 in United States

Just curious thanks.

2007-04-03 18:36:35 · 5 answers · asked by Anonymous in United States

My accountant told me that if I file as married but filing separately, I cannot writeoff the investment condo depreciation? He is stating that as a single or married but filing joint are allowed to get beneift of my real estate investment depreciation; however, the tax law prevents this beneift for individuals that are filing as married but separately? Is this true?

2007-04-03 18:13:51 · 3 answers · asked by pcs3gnow 1 in Other - Taxes

2007-04-03 17:49:24 · 4 answers · asked by Matt M 1 in United States

2007-04-03 17:18:38 · 6 answers · asked by Wm.Dauhgter 1 in Other - Taxes

2007-04-03 16:41:59 · 5 answers · asked by taylorrock 2 in United States

can i get earned income credit if i have a child but im not 25 yet?

2007-04-03 16:33:07 · 2 answers · asked by Anonymous in United States

While living in VA my hubby had 65.00 pretax taken out from each check to pay premiums for an HMO provided by his employer. Then we moved to GA and have 150 pretax taken out from each check to pay a premium for a PPO. Can we deduct the payments taken from each check to pay for these premiums? I read somewhere it says if its included in box A of the W-2, but that just says wages, tips, etc. How do you know if it was included?

2007-04-03 16:28:28 · 6 answers · asked by amerasianjen 1 in United States

I am currently working as a full-time employee and take 2 deductions on a salary of about 65k. I recently took on a few freelance jobs that will give me an additional 7-10k income, which are paid at a flat fee w/o taxes taken out. I'm worried because I hear that freelancers end up owing thousands in April because nothing is taken out initially (compared to a full-time job). What can I expect next tax season?

2007-04-03 16:16:20 · 2 answers · asked by thinkp6d40 1 in United States

In 2001 ATO disallowed deductions for Y/E 30/6/97. I notified them that I disagree but do not have the money to take them to court. So nothing happened except that they continue to hit the initial bill (approx $17,000) with interest (16%) but do not ever take any action to recover it except every year when I lodge my tax return they snaffle any rabate due to me. How long is this going to go on for?

2007-04-03 16:12:21 · 4 answers · asked by Anonymous in Australia

Ok so I do not get taxes taken out because I am an independent contractor......does that mean i have to pay quarterly taxes? or how is this supposed to work?

2007-04-03 15:25:04 · 5 answers · asked by Anonymous in Other - Taxes

the check they mailed me was from my winnings to paid for non-residential government service tax and processing fees.they also gave me a telephone # to call in Canada. is this a scam .check looks really real.

2007-04-03 15:17:37 · 16 answers · asked by carman jmiriam 1 in United States

My fiance moved from PA to NJ on October 7th. Does he have to file taxes in both states, or just one?

2007-04-03 15:13:13 · 4 answers · asked by Grace1228 3 in United States