Taxes - May 2007

how much will i get after taxes?

2007-05-08 07:39:32 · 4 answers · asked by rubenbandman 2 in United States

2007-05-08 07:29:09 · 5 answers · asked by ? 4 in United States

I am involved in a real-estate investment partnership. My portion of the profits made last year were $50,000. I had to pay taxes on that profit, so I withdrew $20,000 to pay the taxes. Now my accountant tells me that the $20,000 I withdrew is considered a dividend and will be taxed next year. It just doesn't make sense to me that I should be taxed twice on the $20,000 - ESPECIALLY when it was sent to the IRS!

2007-05-08 06:56:56 · 4 answers · asked by bleme 4 in United States

I have a small business and I want to max out my SIMPLE IRA, I have plenty of savings so I was wondering if I could put more then what I take as a salary into it.

2007-05-08 06:54:02 · 3 answers · asked by timothy111 1 in United States

if so, what kind of proof do I need that the money was donated as a gift? (and I am an anonymous donor, that is, my friend does not know it was me who donated the money to her as I did it anonymously) what do i need to give IRS to prove that this money was donated...thanks

2007-05-08 06:28:47 · 7 answers · asked by Ultrabrite 1 in United States

2007-05-08 06:12:31 · 1 answers · asked by Rob G 1 in United States

2007-05-08 06:07:31 · 6 answers · asked by Joey N 2 in United States

2007-05-08 04:12:18 · 3 answers · asked by kevin k 2 in Other - Taxes

Apart from businesses having to register for VAT if their turnover is over £61000, what are the benefits for registering if you dont have to?

2007-05-08 02:25:59 · 8 answers · asked by Anonymous in United Kingdom

I know i owe taxes for sure, but how do i find out how much exactly??

2007-05-08 02:25:40 · 4 answers · asked by Elias 1 in United States

2007-05-08 02:22:23 · 2 answers · asked by mau 2 in Other - Taxes

2007-05-08 01:57:15 · 3 answers · asked by Anonymous in United States

I'm planning to purchase one airbrush kit online (weighs less than 2 pounds) and ships it here in the philippines. The manufacturer gaves me the total amount including shipping cost. But i dont know if i still need to pay some taxes here in the philippines (Customs, etc) when the shipment arrives. Could you please give me some advice on these matters. Thanks!

2007-05-07 22:09:52 · 1 answers · asked by Oliver 1 in Other - Taxes

2007-05-07 21:32:01 · 5 answers · asked by Henry 1 in United States

2007-05-07 19:06:22 · 7 answers · asked by aluvsj0412 1 in United States

2007-05-07 18:34:21 · 3 answers · asked by curiousmike 3 in United States

2007-05-07 17:50:06 · 6 answers · asked by paul s 3 in United States

Would I have to pay income tax for the state I work in, even though I would be living across the border in the state with no income tax? This hypothetical question is based on the idea of living in Nevada (no income tax), but working in neighbouring California (high income tax).

2007-05-07 17:26:09 · 9 answers · asked by MJQ 4 in United States

Check out the wikipedia article on the fairtax. Read it. Really read it.

This will change our country forever, if people can actually take the time to understand it. Virtually every honest person benefits from it. I'd love to discuss this with RATIONAL people - people who have actually taken the time to understand it.

Does anyone have any REAL arguments against it?

2007-05-07 17:06:23 · 7 answers · asked by Anonymous in United States

could declare and file taxes from three previous years?
am i goin to be penalized for late taxes if i file late ?

2007-05-07 16:55:35 · 6 answers · asked by Anonymous in Other - Taxes

2007-05-07 16:47:51 · 4 answers · asked by sjdj3000 1 in United States

legaly disabled under 12 k per year ss benfits, incometax refund available?

2007-05-07 16:46:54 · 4 answers · asked by Anonymous in United States

I am currently working an Independent Contractor at an agency for my Art Direction services. This is my main source of income. Additionally, from time to time I do graphic and video work. Now I am considering diving into Event Production as a new opportunity has come to me.

My main goal is to maximize my tax deductions as last year I paid 30% off my income. I filed as self-employed. I know the answer is incorporating but not sure as to which type of Corporation will allow me to deduct the most (equipment, furniture, car, insurance, food, travel, hiring other independent contractors, etc - can't think of any thing else). This is money that is currently getting out of my pocket - after taxes -. Any recommendation or past experiences?

2007-05-07 16:36:08 · 5 answers · asked by QuestionHead 1 in United States

2007-05-07 14:26:24 · 6 answers · asked by sel_bos 3 in United States

im about to claim the winnings for a very large lottery and i am wondering how much tax do i have to pay on the amount and how do i pay it

2007-05-07 14:22:09 · 3 answers · asked by Anonymous in United States

I filed my taxes in March and got my refund about 10 days later. Then I realized I'd made a mistake (to do with rental mortgage interest and taxes, and active participation in rental) and so filed an amended tax return which will increase my federal and state refund. I mailed this on April 12th.

How long does it typically take to process an amended tax return and send a check?

2007-05-07 14:02:27 · 2 answers · asked by ohmygod 1 in United States

Here is the problem: I have no debt but my credit score is only 605. This is a good enough score to buy a car but not to lease; so I lose out on the tax advantage. Instead, I would like to purchase a car and lease it to my corporation for the same price as my monthly payment so there is no personal income from the lease. Is this against federal or state tax law? I am 50% owner of the S Corp.

2007-05-07 13:59:26 · 1 answers · asked by doppiozerobaby 2 in United States

2007-05-07 13:38:05 · 2 answers · asked by mau 2 in Other - Taxes

What's available for grants or funding?

2007-05-07 13:17:21 · 1 answers · asked by mistie_blu 1 in United States

my sisters college does not take part in FAFSA but my father does claim her on his tax returns.... my college wants me to fill out sibiling enrollment verification sheet ..... wuld this change my financial aid package

2007-05-07 12:28:43 · 2 answers · asked by Anonymous in United States