Taxes - May 2007

I'm 40yrs. old, single mom w/2 kids, hardly any savings & rent an apt.
I really want to use my tax refund wisely; the only debt that I have is my car payment.

2007-05-07 12:13:56 · 12 answers · asked by jcm66 1 in United States

I bought a house over two years ago and live in Louisiana. I'm moving soon and plan on selling my house. I don't plan on buying another one immediately. How long do you have before paying capital gains on the house? Also, if you reinvest the money in another house, do you avoid paying C.G.? Thirdly, How long do you have to buy another house before losing a capital gains exemption (if there is such an animal)?

2007-05-07 12:07:17 · 5 answers · asked by Malterman 2 in United States

2007-05-07 12:01:50 · 5 answers · asked by creedmoor1875 2 in United States

My fiance got a settlement from his previous employer that included some compensatory damages. He also drew unemployment for a while. How is this going to affect him on the upcoming tax year??? Should he try and pay some estimated tax on this money so he doesn't get penalized?? They said that they would send him a 1099 form but he is afraid that he willhave to pay his unemployment back if he has to report it on this form. Does anyone know?? Your answers will be a great help to us as we try to plan for our wedding and the purchase of a home with some of this money. Thanks!!

2007-05-07 11:36:26 · 2 answers · asked by deeregurl20 2 in United States

I printed 3700 magazines in Nebraska, I live in Montana, the printer is trying to charge me $125 sales tax, can they do that?!

2007-05-07 10:05:16 · 7 answers · asked by Amy L 1 in United States

2007-05-07 09:54:01 · 2 answers · asked by jettalady1 2 in United States

It has been 1 yr, 7 siblings, and no communication from executor.

2007-05-07 08:46:02 · 2 answers · asked by kmusicman 1 in United States

2007-05-07 08:34:21 · 1 answers · asked by Anonymous in Other - Taxes

Is it too early to worry?

2007-05-07 08:29:06 · 3 answers · asked by Anonymous in United States

2007-05-07 08:15:26 · 9 answers · asked by Anonymous in United States

IRS sent me a fine notice of $1200 for not report $100 of interest on one of my old bank's savings account. I do not recall if I got that statement or not, but it is true it never got reported.

What options do I have and what are the steps that I should take to fix this problem? I am a poor student who is bearly meeting both ends, and my friend helped me do the tax....pls help.

2007-05-07 07:55:31 · 8 answers · asked by Mike N 2 in United States

I am single and have no dependents and no one can claim me as a dependent. so, is it only one exemption?

2007-05-07 07:52:32 · 6 answers · asked by Anonymous in United States

2007-05-07 07:33:44 · 2 answers · asked by mau 2 in United States

I've heard that we now have to put a value on the clothing I donate to Goodwill.

2007-05-07 07:08:37 · 3 answers · asked by JULIA R 2 in United States

I have shares of an Australian pharmaceutical company that I purchased in 2002. The shares have increased significantly in value, and I am ready to sell them. Unfortunately, I am uncertain of the tax consequences.

Would the capital gains be taxed at the long-term tax rate of 15% like a domestic stock? Will the gains be taxed at my regular income rate? Or, is there a special tax for foreign investments? I have searched the Internet and the tax guides at my local bookstore, but I cannot find a definitive answer. Any help would be greatly appreciated.

2007-05-07 06:56:13 · 3 answers · asked by KevinM 2 in United States

Selling on ebay I didn't make enough to file tax returns but I'm starting to worry about taxes and all.
Any help?

2007-05-07 06:25:01 · 7 answers · asked by M H 1 in United States

2007-05-07 06:06:41 · 10 answers · asked by sparkle_babi86 3 in United States

we received money on the sale of a home from my husband's relative who passed away a few months ago; the sum was divided between several family members. Do we have to pay taxes on this?

2007-05-07 06:03:38 · 3 answers · asked by honey 4 in United States

I'm a non resident alien in this country. My tax adviser filled up the form 843 asking for the refund of my Social Security and Medicare more than 2 months ago.
I just spoke with somebody at IRS (after waiting more than 1 hour in line), but it seems like they don't know what I am talking about. Somebody knows how can i get information about my refund status for the 843 form..?
Thank you in advance

2007-05-07 06:02:26 · 1 answers · asked by francisco a 2 in United States

If I keep the receipts for the gas I buy? Its not for a company vehical or anything like that. Just in general.

Thanks

2007-05-07 04:30:55 · 6 answers · asked by Jimmy 1 in United States

My company recently issued us (employees) company stock that we can trade immediately once it opens on the NYSE. The way they issued it is as follows using hypothetical numbers for simplicity: Per Capita Shares of 150 plus Earnings Shares of 200 equals Total Number of Shares of 350 minus Shares "withheld for taxes" of 50 equals Net Shares Available to Trade of 300.

On the first trading day, the stock opens at $20 and closes at $25 for a gain of $5 per share. If I sold my net shares to realize the gain of $5 per share thus netting me $1500, will I still owe capital gains even though the company already withheld 50 shares for taxes as illustrated above? If so, what taxes do the withheld shares pay?

2007-05-07 04:24:53 · 4 answers · asked by vaxxbell 1 in Other - Taxes

What are the tax rates and are there any rebates for a married person (with a housewife and 1 child)?

2007-05-07 03:37:57 · 3 answers · asked by NS 2 in United States

2007-05-07 02:52:18 · 7 answers · asked by stacy s 1 in United States

Hi, does anyone know what the china rate/s of income tax are on any profit made by exporting goods from Shanghai, China?

Thanks!

2007-05-07 02:50:57 · 6 answers · asked by clanto_159 1 in Other - Taxes

I have a room mate who needs a car for work and school. He is currently temporarily disabled, physically and will never return to his regular job. We live in PA. A friend in NJ has a vehicle (car) that her father is willing to 'give' as a charitable donation, and will need a legitimate receipt for tax purposes. Anyone know the easiest way to do this, legally?
Thank you

2007-05-07 02:44:55 · 3 answers · asked by phleb4464 1 in United States

dear all,

i have two jobs at almost the same time,
i understand that i have to pay basic rate for second job ( 22%)
which one should be taxed 22% ?
if for example : first job only 2500 / year and second job 8000 / year
should i tell the employer or taxman saying the 2500 / year job is my second job ? or do i need to say the other around ?
if the second ob is taxed 22% - i would be unhappy
thanks for your advice

2007-05-07 00:57:33 · 2 answers · asked by topduiter 2 in United Kingdom

Living in China, I'm thinking of importing goods into the UK, and sending them direct to individuals- like a mail-order business. I understand the Import Duty and VAT taxes, but are there any income tax laws, even though I'm not living in the UK??

Or are there income taxes in China which I'd have to pay?

Thanks for your help!

2007-05-07 00:03:26 · 2 answers · asked by clanto_159 1 in Other - Taxes

like say a football player who makes 7 million a year how much does he actually clear?

2007-05-06 22:13:42 · 5 answers · asked by apremont1 2 in United States

on the form it says only non relatives can claim gift aid? why cant't relatives claim?

2007-05-06 21:47:57 · 5 answers · asked by Charlotte J 4 in United Kingdom

2007-05-06 20:16:37 · 3 answers · asked by Patty 1 in United States