Taxes - May 2007

why when you are seeing how much of a house you can afford, they want your gross income to figure out numbers? why wouldnt they use your net income, the money you actually get in a year ?

2007-05-30 13:01:51 · 3 answers · asked by rider476 2 in United States

is that how much you make in a year before or after taxes?

2007-05-30 12:54:13 · 3 answers · asked by rider476 2 in United States

2007-05-30 12:40:12 · 2 answers · asked by GREATONE 1 in United States

1. What exemptions may be taken on Federal Income Taxes?
2. Who pays Social Security taxes to the FICA?

2007-05-30 12:25:39 · 2 answers · asked by Tiffany 1 in Other - Taxes

2007-05-30 12:24:09 · 3 answers · asked by Mikey A 2 in United Kingdom

For the year 2006 my fiancee and I lived apart, each with our own dependant child until Oct when we got married. Then we were married and lived together from Oct-Dec 06. We misunderstood the 6month rule for filing Head of Household and we BOTH filed this way. How can we calculate what we will owe the IRS when we amend to Married Filinf Jointly?

2007-05-30 11:54:59 · 4 answers · asked by Anonymous in United States

Lets say a person is self employed. On their taxes why would someone claim they make more money?? since they have to pay the taxes on it??

2007-05-30 11:24:06 · 4 answers · asked by gspaypal 2 in United States

2007-05-30 10:33:13 · 3 answers · asked by dyer4dolphins 1 in United States

If I have my mother in law take care of my child and pay her, what do I have to submit to be reimbursed by the DCSA?

2007-05-30 09:53:33 · 2 answers · asked by rib 2 in United States

2007-05-30 09:45:05 · 1 answers · asked by anthony o 1 in United Kingdom

I have had a check come to me from a previous employer for 401k money that was automatically taken out of my check during my employment. Will I be taxed on this money even though I didn't request that it be cashed out? How can I avoid this?

2007-05-30 09:12:24 · 4 answers · asked by luckymunkee29 3 in United States

I need to know what a sole owner is and if they get a TAX id from IRS just high level information would be helpfull thank u!!

2007-05-30 09:10:51 · 4 answers · asked by Komal M 1 in United States

2007-05-30 08:52:01 · 7 answers · asked by matt m 1 in United States

My wife and I are getting a divorce. We're selling our house and hope to make a lil over 60K in profit. Of course we're going to split everything 50/50.

My wife plans on using her half as a down payment on a house. I plan on using my half to pay off my bills. I have about $24k in bills (yikes).

Is there anything I can do to avoid paying taxes on my share? I know I can use it towards my house and avoid getting taxed but then I'm stuck w/ my huge credit card balance. I'm trying to wipe my slate clean.

Am I screwed?

2007-05-30 08:51:32 · 5 answers · asked by kimchee_boi 3 in United States

My husband has been filing Single two dependents on his check at work. He just changed to married 6 dependents. Will this make a diffrence on what he brings home?

2007-05-30 07:34:59 · 10 answers · asked by crystalt 1 in United States

2007-05-30 07:10:55 · 3 answers · asked by linda j 1 in United States

i'm tired of taxes eating me alive. i entered 1 is that the best option for me?

2007-05-30 06:48:30 · 5 answers · asked by game_099 2 in United States

Refresh; If giving a discount on products and or service, Do I charge tax on the total price before discount?
ie; $869.00 Total, Disc. $70.00. Tax the Total of $869.00?

2007-05-30 06:31:58 · 5 answers · asked by Teri 0212 2 in Other - Taxes

I have heard it said that if a person goes back to their home country for a 2 week period every six months that they are exempt from paying certain taxes for the purpose of sending remittance money home to family. Is this true and which tax is one exempt from paying? I am just trying to understand the structure of this system.

2007-05-30 06:01:14 · 3 answers · asked by what? 3 in United Kingdom

Also can I place part of my wages directly into an IRA and how much of that can I deduct yearly? How much can I place into my favorite Charity?

2007-05-30 05:59:47 · 4 answers · asked by OzWiz 1 in United States

2007-05-30 05:58:49 · 12 answers · asked by Adam D 1 in United States

First: please only post an answer if you know what you're talking about! Thanks!

Question: I have a Roth IRA that was opened in 1998 with an initial investment of $2000. I have not contributed or done anything with it since and it is now $6717. Due to a personal financial crisis that will not resolve itself any other way, I am seriously considering closing my Roth IRA. I'm in my 30's and my distribution would not qualify for any of the exemptions provided by the IRS. I know that I face a 10% penalty as well as taxes.

How much would I actually get of the $6700 if I close the account, and do I pay the 10% penalty fee & taxes on the distribution upfront or at tax time?

I'm only considering this drastic option because: 1) I really need the money, and 2) I have a 401K building at work...so there is some retirement planning already.

Thanks in advance!

2007-05-30 05:06:12 · 4 answers · asked by dewmeister 2 in United States

1) No, I'm not a tax protester.
2) Yes I'm asking because of information I've heard from a tax protester.
3) No, Title 26 does not specify that YOU have to pay an income tax, nor is the IRS tax CODE a LAW.
4) The 16th Ammendment was never ratified.

and

5) What do you think about the film, America Freedom to Fascism where numerous IRS agents, tax lawyers, and congressmen have come out and said "There is no law that you have to pay INCOME tax". If you haven't seen it, I highly encourage you to watch it and get back to me on it.
Link to movie:
http://video.google.com/videoplay?docid=-1656880303867390173&q=freedom+to+fascism

I'm looking for a serious answer not funny people.

If you really can answer this question, there is I think a pot of $2 million waiting for you.

2007-05-30 04:56:26 · 14 answers · asked by Anonymous in United States

My parents gifted me $24,000 ($12,000 / each) to help me buy my first house. I recently sold the house after just over a year of ownership because plans in my life have changed. My parents are asking for the money back since I no longer have the house. Because the money was provided as a tax free gift can I just give it right back with no tax issues? What would be the tax requirements if any?

2007-05-30 03:54:47 · 9 answers · asked by ulmer79 1 in United States

2007-05-30 03:32:02 · 7 answers · asked by Mark 2 in United States

Hi

What are the personal income tax rates in Gibraltar and what must you do to qualifiy as a tax resident?

Thanks

Daniel

2007-05-30 03:02:23 · 1 answers · asked by Anonymous in Other - Taxes

2007-05-30 02:56:29 · 3 answers · asked by MARCELLA G 1 in United States

2007-05-30 01:45:49 · 6 answers · asked by Barbara Doll to you 7 in Other - Taxes

2007-05-30 00:22:17 · 2 answers · asked by nolegs 1 in United States

the stock at death was valued $100, what if when I receive the stock is only worth $50. Can the loss be tax deductible?

2007-05-29 21:10:48 · 4 answers · asked by rwhz199 4 in United States