Taxes - May 2007

as a 70 yr disabled pensioner i raised a mortgage on my property to purchase a retirement home.While searching i put the money in a saveings account which the interest on same helped towards paying the repayments,some time later i found and purchased my retirement home with the mortgage monies. Is the interest i received dureing the search period counted as income and liable to income tax.

2007-05-04 02:12:06 · 5 answers · asked by PATRICK W 1 in United Kingdom

I currently work full-time and am interested in starting to tutor students on evenings and weekends. Can anyone advice me on what I need to do regarding taxes and any other financial things that iIneed to sort for this additional self-employed part-time job? Any help would be greatly appreciated.

2007-05-04 01:41:47 · 3 answers · asked by Anonymous in United Kingdom

2007-05-04 01:21:11 · 6 answers · asked by pjpbrowneyes 1 in United States

thanks.

2007-05-03 23:10:14 · 5 answers · asked by Anonymous in United Kingdom

2007-05-03 21:46:51 · 3 answers · asked by slim 1 in United States

This is serious. I know it's a shot in the dark, but i'm 27 and i finally decided what i want to go to school for. Architectural design with a speciality in sustainable, green, earth homes. My family is broke and the college i want go to school is private and very expensive..... e-mail me and i'd be glad to tell you my situation

2007-05-03 20:54:12 · 4 answers · asked by Anonymous in Other - Taxes

2007-05-03 18:19:59 · 7 answers · asked by courtneyoh6 1 in United States

2007-05-03 17:34:14 · 11 answers · asked by Woody 1 in United States

2007-05-03 16:38:35 · 1 answers · asked by jim b 1 in United States

2007-05-03 16:38:10 · 4 answers · asked by jim b 1 in United States

2007-05-03 16:07:49 · 4 answers · asked by Anonymous in United States

If the sales tax rate is 6.5% and the tax on a purchase is $39, what was the amount of the purchase?

2007-05-03 15:48:22 · 6 answers · asked by momov4 1 in United States

My child is thinking about a home purchase and I was considering financing the loan myself, and thereby providing a much better rate, no closing costs, etc.; my question concerns end of year tax considerations.
My child would claim the interest paid, and I would claim the interest income, but how does an individual go about reporting this? Financial institutions send a 1099; can an individual do the same, and how do you go about it?
Anyone have any thoughts on this? Thanks.

2007-05-03 15:02:03 · 4 answers · asked by John W 3 in United States

How can I check on my tax refund?

2007-05-03 14:31:18 · 2 answers · asked by Ruth L 1 in United States

2007-05-03 14:05:54 · 1 answers · asked by lilly 1 in United States

2007-05-03 12:14:56 · 11 answers · asked by PA$O 1 in United States

or do i include it as a miscellaneous income? I am currently doing my taxes on TurboTax. Please help, i dont want to screw it up.

2007-05-03 12:02:24 · 13 answers · asked by Anonymous in United States

2007-05-03 11:08:36 · 3 answers · asked by dshartill 1 in United States

Getting married in september. Just bought a new condo in addition to one that I already own and now rent out. Should I change my filing status to married now? I now claim Single-2 and I would like to minimize my return without owing.

2007-05-03 10:57:20 · 6 answers · asked by Anonymous in United States

i am doin a state project and i need 2 know da ansewr 2 my question by may18 and if u give a nice list i will email u a suprise

2007-05-03 10:44:08 · 1 answers · asked by ~lil_yaya_011~ 1 in United States

why is revenue down from last year?

2007-05-03 10:25:38 · 3 answers · asked by alexxxx 1 in United States

If you don't file your taxes for whatever reason, do you get arrested? Fined? I know Marc Anthony JUST got caught for not filing HIS taxes for years, and he had to pay a large fee (although it might have been based on his large income). Any idea?

2007-05-03 09:50:24 · 19 answers · asked by Bebo 1 in United States

to incurr any penalties

2007-05-03 09:25:33 · 4 answers · asked by mudoo99 1 in United States

The company I work for has been purchased by an international company and the deal willl close in sept. I have unexercised iso stock options that are worth $180m. If I do not exercise them, I will be paid in cash when the merger closes in Sept. I will make about $200m in regular salary this year. I want to MINIMIZE the taxes I will pay on my iso's. Based on my salary, I know if I exercise the options I will have to report the value for AMT purposes. Would I be better off excercising the options (my old company stock would be converted to the new firms stock) and holding it for at least a year and dealing with AMT or just taking the cash and reporting it as regular income. Is their a tax advantage either way? Thanks

2007-05-03 09:18:12 · 7 answers · asked by charlie c 1 in United States

I am in the process of buying my first house. I know you can deduce things from your taxes as a result. What exactly are the deductions? I know that interest on the mortage is one, basically my question is what do I need to keep, like inspection recepts, paint/remodeling expenses? Do things like that matter?

2007-05-03 09:07:29 · 5 answers · asked by Lisa 3 in United States

I got the number for a business I was going to launch but the plans fell thru. I never used the number at all. How do I close it out?? Thanks

2007-05-03 08:34:20 · 5 answers · asked by rafastella 2 in United States

What happened then, if you decided not to call? menaing you just let it go

2007-05-03 07:18:28 · 4 answers · asked by Mec C 1 in United States

What are the tax disadvantages of receiving an expense allowance from your employer that you are not required to account for?

2007-05-03 07:05:42 · 3 answers · asked by Koji Kabuto 2 in United States

2007-05-03 06:30:42 · 9 answers · asked by russgipson 2 in United States

2007-05-03 06:20:45 · 2 answers · asked by itleed 1 in United States