Taxes - April 2007

I rent instruments for both of my kids' music classes. Is this rental money tax deductible? It doesn't seem to fit under education expenses, but I'm hoping I'm wrong. Anyone know?
Thanks!

2007-04-03 15:09:07 · 5 answers · asked by Cabrõn 4 in United States

my brokerage accounts report Certificate of deposit redemptions on form 1099 B. Is it necessary to report these since we already have reported interest income elsewhere.

2007-04-03 15:08:57 · 2 answers · asked by greydoc6 7 in United States

Does anyone have any insight on how to obtain historical stock prices? Unfortunately (don't ask), I do not have a record (stock price) of my initial MBNA purchase in 1993 - yikes! FYI: I've been told by National City and Computershare they no longer have this data nor keep this information.

2007-04-03 14:20:06 · 2 answers · asked by Emmett Fitz-Hume 1 in United States

My mother-in-law and her husband of 3 years have not filed their taxes for the same amount of time. I do not believe they owe any money, but now have they lost any refunds they were due? What kind of trouble can they expect from the IRS? Is there anything I can tell them to get the fire lit to file this year?

2007-04-03 13:53:18 · 8 answers · asked by Lori 1 in United States

I filed my federal taxes back in Jan, I didn't file my state taxes right away and I got another w-2 in the mail. I had to amend my federal taxes. Since I didn't do my state taxes when I did my federal I don't have to amend those ( i worked in 2 states) I just have to file them. Does anyone know of an online program that doesn't make you file your federal with your state, and will let you prepare and file state only?

2007-04-03 13:39:24 · 2 answers · asked by LEL61719 3 in United States

My itemized deductions are almost 3x greater than my standard deduction. Go with itemized?

2007-04-03 13:36:38 · 9 answers · asked by Melandi 2 in United States

I am a security guard and my employer gave me a 1099-misc instead of a w-2. He did not take out any taxes during the year. Should this reported on line 7 of the w-2 as regular wages or should it be on line 12 with business income (which would mean a schedule c and self employment tax)?

2007-04-03 13:14:22 · 5 answers · asked by kemmydc 1 in United States

someone filed my grandson without the mothers permission how do we check it

2007-04-03 12:46:46 · 5 answers · asked by granny 1 in United States

I'm asking this for a friend, so I'll try to get all info correct. He worked 2 jobs in 2003 and never filed his taxes for that year. His total income was $7,062.66. About $350 worth of federal taxes were withheld and $90 for state. His filing status is single. Should he go ahead and file for that year? I would think he would have been entitled to almost a full refund, since his wages were minimal. Since 3 years have past would there be a penalty since it's a refund? OR is he even required to file at this amount. If he wouldn't receive any penalties then I know he wants to file, but if he would and he's not required to file then he won't. Any help would be appreciated. 10pts to most comprehensive (correct) answer. THanks!

2007-04-03 12:28:36 · 8 answers · asked by James G 3 in United States

I don't have a private business or anything like that. This was a one-time payment for music being used in an MTV commercial.

Thanks.

2007-04-03 12:21:43 · 3 answers · asked by Sean R 1 in United States

i got braces this year can i get a refund ?

2007-04-03 12:16:22 · 4 answers · asked by pinky3 1 in United States

I am 20 years old. I made about $13000 dollars from two jobs, some of the $ was tips.I was a (waiter) last year. My father claimed me....He recieved all his taxes back, because he is working abroad for the military. any ways... I am a full time student ... took out some school loans to pay for school.... on a scholarship that pays about 80% of my tuition. i live at home. and thats about it ....

2007-04-03 12:10:38 · 3 answers · asked by KOISTAN 2 in United States

the unemployment dept seems to be sticklers on reporting money earned but did not say anything about tax refund or gift money.

2007-04-03 11:50:23 · 2 answers · asked by rizzzo1945 2 in United States

and the American dollars you will be rich in another country with a Visa.

2007-04-03 11:48:25 · 2 answers · asked by Anonymous in United States

He pays in every year, and he receives 1099 misc. on all his income. He reports everything. I haven't worked for 8 yrs, and would like to work in the office and get paid from him, and at the end of the year he also gives me a 1099 misc. for income I made from him, like he gives to the others that sub-contract from our company. His biz is (Sole Proprietor)

2007-04-03 11:46:47 · 2 answers · asked by easy does it 2 in Other - Taxes

Like if you donate used clothing to Salvation Army, they are getting stricter about the receipt you would use on your taxes for a charitable deduction.

2007-04-03 11:43:33 · 3 answers · asked by purplewindow 2 in United States

I just moved out of state from my moms place. Can she still claim me as a dependent or do I put that nobody cain claim me as a dependent since Im not living in her house anymore?

2007-04-03 11:39:31 · 6 answers · asked by Anonymous in United States

So, I asked a question about this earlier and got great answers BUT I'm confused about what a dependent is compared to an expemtion or qualifying child...aren't they the same thing? I am going to let my mother claim my daughter as her dependent so she could claim head of household (we live with my mom)but i am considering using my daughter for my EIC and Child tax credit....is that allowed? OR letting my mom use her child tax credit because I myself get a EIC correct without children right? Also, i've tried and tried to put my mom as head of household without my daughter as her dependent and it just doesn't let me (on turbotax) because it says you have to have a dependent.

2007-04-03 11:36:32 · 2 answers · asked by Anonymous in United States

Okay, so my sister bought Tax Cut and did her own tax return. I took my tax stuff to her house and we did mine, too... BUT later it hit me... that since I live in one state and she lives in another... where should I send the signature form?? The state where I filed, or the state where I live?? I realize it's all federal, so there shouldn't really be a big deal over it, the return's correct and everything... just couldn't figure out where to send the form. And, yes, wouldn't you know it, the address for the IRS center for hers is different than the one for mine. Thanks for your help.

2007-04-03 11:29:52 · 2 answers · asked by Anonymous in United States

He's a sub-contractor and pays his taxes quarterly.

2007-04-03 11:18:46 · 5 answers · asked by easy does it 2 in Other - Taxes

my friends and i will be incorporating later this year. can i start saving receipts of business lunches, laptop purchases, stationary etc. and then add them to my deductions next year, even i havenet incorporated yet?

2007-04-03 11:08:12 · 3 answers · asked by lionfireinc 2 in United States

2007-04-03 11:07:00 · 3 answers · asked by Matt M 1 in United States

Since I have a major purchase with over $1,000 in sales tax I want to add all the other sales taxes that I paid last year so I can deduct them on my income tax retrun. However,I don't know how to figure tha sales tax portion on my gas purchases.

2007-04-03 11:05:12 · 5 answers · asked by whalenfree 3 in United States

Can someone tell me on what days of the week are tax refund checks delivered?

2007-04-03 10:59:03 · 2 answers · asked by Netta M 2 in United States

deduction?

2007-04-03 10:58:21 · 4 answers · asked by tess 1 in United States

amount not enough to have to report?

2007-04-03 10:47:27 · 3 answers · asked by tess 1 in United States

I have won a claim against a contractor who didn't honor his warranty. What is the best way to collect? Can I use a collection agency?

2007-04-03 10:45:37 · 5 answers · asked by brian_rosengold 1 in United States

I run a business from home on part time basis. am wondering if i can include expenses i did not deduct for 2003 2004 and 2005?

alternatively how else would i be able to make those deductions form those years now? surely the IRS must have a provision for this.

P/S
BTW i just happened to come across the receipts from those years.

2007-04-03 10:31:10 · 6 answers · asked by toocool4skool 2 in United States

I'm an employee...not self employed...

2007-04-03 10:03:37 · 4 answers · asked by tess 1 in United States

I am disabled and I have received a W2 from the insurance company paying my claim. This is the first year I have been disabled. The wages are listed in box 12a with a code of J. The "third party sick pay" box has been checked. This is the only place on the W2 that the earnings are listed. My question is this "Are these earnings taxable"? I have researched the question and have not found a definitive answer. Jerry

2007-04-03 09:58:34 · 3 answers · asked by jmatteis07 1 in Other - Taxes