Taxes - May 2007

Online Sales and telemarketing Sales all over the USA.

2007-05-27 04:56:35 · 1 answers · asked by kari_n_john 1 in Other - Taxes

I know some people double up or paid for two tax years in one year and none in the next; then repeat the cycle. So do you write one check on Dec. 30, 2006 for instance, and another for Dec 31, 2006 with a note saying for real estate taxes in 2007. I understand the principle, just a little confused on how this works.

2007-05-27 04:42:55 · 4 answers · asked by Joanne J 1 in United States

2007-05-27 04:29:33 · 2 answers · asked by Monkey 1 in United States

Hello,

I'm a single mother, anual income about 23k. I have a baby and the father pays child support and daycare expenses.
We pay 800/month for daycare.
I know I'll have a tax deduction by the end of the year, so the "net cost" of daycare will be actually less than 800/month.
Can anybody help me to "estimate" how much deduction will I have so we can calculate the net cost of daycare?

2007-05-27 03:42:05 · 3 answers · asked by ICanada 2 in United States

Hello,

I'm a single mother, anual income about 23k. I have a baby and the father pays child support and daycare expenses.
We pay 800/month for daycare.
I know I'll have a tax deduction by the end of the year, so the "net cost" of daycare will be actually less than 800/month.
Can anybody help me to "estimate" how much deduction will I have so we can calculate the net cost of daycare?

2007-05-27 03:41:00 · 2 answers · asked by ICanada 2 in United States

O nevermind... found a graph:

http://www.randomuseless.info/gasprice/gasprice.html

Funny... "randomuseless".... hmm.... I guess we must keep it that way...

2007-05-26 22:30:13 · 4 answers · asked by island24 2 in United States

My $50K back tax debt to the IRS has been classified as "currently not collectible" for the past two years. I recently won a Disability settlement from Social Security and received a check for 4 1/2 years of back SS Disability payments (FYI: I am no longer disabled and am now working part-time). What I wanna know is, can I open a new bank account (I don't presently have one) and deposit the lump-sum SSA check without having some kind of alarm go off at IRS HQ which results in their hoovering that account dry the second it clears? I fully intend to use a big chunk of the money to work out some kind of payment or offer in comprimise plan with them, but I need to be able to use some of it for urgent medical, dental and other essential expenses (such as a good tax attorney) first. Any information and or suggestions would be greatly appreciated. Where possible, please cite references, regulations, IRS publications, etc. so I can make sure I have my facts straight.

2007-05-26 21:33:52 · 6 answers · asked by Rickenharp 2 in United States

I have been married to her for 3 years now, She has 3 kids, 18,13,10, not worked for about 15 years i believe. Am i being so wrong as to insist that she now gets a job? I was self employed a while back and so we got tax credits, when i started my new job earning okay money, the tax credits continued cos she 'forgot' to tell them.. Obviously its a year on now time to renew and I am not lying on no form. She uses the money to get the shopping each week as all my wages pays for the bills at end of month. So when the credits stop, and we start paying them back, we not going to have any money for shopping, so I am insisting that she goes back to work, but I am being unreasonable here? all i want is for her to go and do some bloody work! any ideas what she could do or if you think i am being unreasonable.???

2007-05-26 21:20:06 · 15 answers · asked by Anonymous in United Kingdom

2007-05-26 20:22:11 · 2 answers · asked by Denmark A 1 in United States

If your answer is you can't, dont answer at all

2007-05-26 17:09:14 · 19 answers · asked by rockysimon2005 3 in United States

If i were to win the illinois lottery say like 10 million... how much taxes would i have to pay ? State and Federal taxes at time of claim and then ... interest income on the money every year if i put it all in a savings account ?? Anyone know what the percentages would be... I was just curious to see how much would be taken away....

2007-05-26 16:26:51 · 0 answers · asked by Anonymous in Other - Taxes

It was agreed upon both sides when my last day of work was. I told unemployment I was laid off and my company said I was fired thus getting a letter that stated my filing for unemployment is under review. How do I correct this and will I be denied. I was never written up for poor performence as my employer stated that the reason of termination nor did I received a 30-60-90 day review of my job. Also did not abuse or neglect anything or anyone. Do I agree that I was fired saying I misspoke, fight my side, or say that I was unsure what happened thus the reason why I picked what I did. i aslo filed the claim before the last day of pay but was told this would not cause a problem

2007-05-26 16:22:41 · 5 answers · asked by eric s 2 in United States

I am considering cashing out my 401K when I leave my company next month. I am not retirement age. I have a vested balance of $60,000 available. What are the tax penalties? I think that it is 20% right off the top and then subject to a 10% tax penalty when I file my taxes in January. Is that correct?

2007-05-26 16:00:42 · 7 answers · asked by aksnowbunny2001 2 in Other - Taxes

2007-05-26 15:34:24 · 9 answers · asked by Joe Smith 1 in United States

2007-05-26 14:41:15 · 14 answers · asked by unknown 4 in United States

So yeah my soon to be ex- wife makes 3 times the amount i do, we filed taxes jointly at first, with out my knowledge she claimed outreagous deductions and now we have to pay for it. The debt is 30,000, i dont have that kind of money, hence why im filing bankruptcy because off all the stupid mistakes i did when i was married to her. So if i do file bankruptcy i know i can't get out of the IRS debt like that, so will the debt be split down the middle? Or will one of us be held more responsible then the other?
I constantly argue with her that she is responsible (although i know we both are) for that IRS debt, she so called says that shes making 2,000 payments a month. When not to long ago i got a letter in the mail saying about a recent audit and again i spoke to her and claims that she's making payments.

2007-05-26 12:49:47 · 7 answers · asked by Anonymous in United States

2007-05-26 11:31:23 · 4 answers · asked by onehumblekat 1 in United States

Last year sometime I went to the state board of equalization and got a sellers permit. When tax time came around I filed and I guess I didn't include that information properly. I didn't use the sellers permit at all. I recieved a notice saying that I need to report that on my tax. I filed my taxes online. How do I go back on the website I used to file and report it on my file? I don't know what section to report it on. The amount will be $0 because I never used it. Can some one tell me how to go back online and report this or make the correction? I would really appreciate it. Thank you so much.

2007-05-26 11:21:44 · 1 answers · asked by JC 2 in United States

This is yet another post I am making about one of my favorite topics, investing. We know that a traditional IRA is tax deferred yet will have taxes paid on it during retirement. A Roth IRA grows tax free and has tax free withdrawals pending certain conditions met. But why a traditional? There are some that argue that taxes are going up, which is probably true. Personally, I like both types of IRAs. With a Roth, you pay current income tax on contributions that have not even made any earnings yet. That alone will tend me to favor tax deferred traditional. A traditional IRA will earn more over time with the power of compounding without the hassles of annual taxes hitting it. Like I said before, why not get a low low paying job after you leave your main job so that you are now in a lower tax bracket? Instead of maybe 25% tax on withdrawals, now you will only pay 10-15%. See the difference? All that money has grown without annual taxes. Now pay as little as possible on earnings.

2007-05-26 11:17:45 · 1 answers · asked by Anonymous in United States

Is this money that i get back when I file my taxes next year? Thanks for your help.

Lets say i dont request that any money be withheld, will I owe money instead when I file taxes?

2007-05-26 10:37:41 · 6 answers · asked by Crazy 6 in United States

I have been told that it is wise to save all invoices, receipts, bank statements, etc for 10 years in the event that I may be audited and have to produce said documents. After a search of the IRS' website, I found no official recommendations on how long to keep these documents. Anyone who has a background with taxes (i.e., you work for the IRS, you are a CPA, or you are a lawyer who deals with tax law) have any recommendations? Thanks.

2007-05-26 07:54:15 · 6 answers · asked by thetrexlers 1 in United States

I know there is a benefit to working in NH, but will I lose out by doing the reverse? Do I get to claim my MA taxes when I file? I have tried researching this, but to no avail.
Thanks to anyone in the same boat!

2007-05-26 05:38:07 · 3 answers · asked by Anonymous in United States

2007-05-26 05:37:01 · 2 answers · asked by h2sut 1 in United States

2007-05-26 05:19:51 · 5 answers · asked by Anonymous in United States

i went to irs.gov and i am still confused, PLEASE HELP ME! i worked at a crappy fast food place in high school for three years (02-05) and made about 3k each year. my own parents said do NOT file, i wouldn't get much back. they claimed me each year including this year. i'm i going to go to jail for not filing? why would my parents say no if it was required? please help. every damn week on tv , and even in my local area, some dipstick is getting arrested for tax evasion or failing to file income or some other crap........

2007-05-26 04:49:55 · 9 answers · asked by Anonymous in United States

about 6 years ago i worked at a fast food place in high school i didn't file because my parents said i didn't make enough to get much back (about 3,000 dollars) .it seems like every time i watch tv someone is in cuffs for not paying or failing to file their taxes. is there some type of minimum or does that apply to everyone? please help

2007-05-26 04:20:32 · 8 answers · asked by Anonymous in Other - Taxes

I am a single mom and will be starting a job soon. Is there a site I can go that will show what taxes will be taken out according to my gross pay and how much I claim?

2007-05-26 02:27:47 · 5 answers · asked by dawn_20062006 1 in United States

is because he would be responsible and pay the taxes if it were in my name. should i be worried about this at all? should i trust him? what could i do about this? what could happen to me if the taxes weren't payed?

2007-05-26 01:06:21 · 4 answers · asked by Dan 2 in Other - Taxes

How do you pay taxes if you are being paid by cash???

I’ve been working at petrol station for a month and they pay only by cash. I’ve asked them to pay me through a bank and provide proper payslips with tax codes and everything. But that is taking them 3 weeks now. I was promised to get paid weekly but I was just given £50 because my wages are being delayed. (£50 for the whole month that I’ve been working there) Everyone else is being paid by cash on time, but as far as I know that’s illegal because you don’t pay taxes that way. There fore my question is, if I agree to be paid by cash how do I pay taxes?
Thank you for any help

2007-05-26 00:34:05 · 17 answers · asked by Kamol 2 in United Kingdom

Now that I'm planning to return what state has the lowest sales tax?

2007-05-25 23:26:10 · 8 answers · asked by jojo j 2 in United States