Taxes - June 2007

While the IRS advertises actively credits people especially low income credits that people may/are eligible for but leave out the fact that the credit will be forfeited with no means of appeal if the credit is not filed for in a timely manner an acceptable practice? Shouldn't they be required to add time frames regarding allowable time to file for credits along with their advertisement the credits are available?

2007-06-30 22:20:53 · 5 answers · asked by super_ez1 2 in United States

2007-06-30 21:23:34 · 6 answers · asked by dexter trimble 1 in United States

2007-06-30 21:15:50 · 5 answers · asked by Ashley g 1 in United States

or any other special taxes like that? the liquor store is in Los angeles.

2007-06-30 20:39:22 · 8 answers · asked by Anonymous in United States

or to re -phrase amount of money you can make before you have to fill out a w2 form?

2007-06-30 19:38:52 · 5 answers · asked by Makaveli Tha Don - G.O.A.T 1 in United States

I am ordering a pair of jeans from China, and I was wondering if anyone knows how much I would have to pay in import taxes. I have never bought anything overseas and I have no knowledge at all about import taxes and how much they might cost.

If you aren't exactly sure, a rough estimate would be appreciated.

2007-06-30 19:31:51 · 5 answers · asked by AdrianClay 7 in United States

I have 5 children and am looking for tax deductions. I understand I can gift 10k per year to each of my children to a max of 100k, and write that money off as a tax deduction- is that accurate?

2007-06-30 17:53:51 · 7 answers · asked by MIDegn 1 in United States

I have a full time day job with a regular salary where taxes are taken out. I have recently taken on a part-time position (3 to 5 days a month) as an independent contractor in a dental practice. Do I have to pay quarterly estimated taxes? How do I figure out what amount to pay since my pay is based on production?

2007-06-30 17:29:04 · 6 answers · asked by eric k 1 in United States

2007-06-30 17:22:09 · 2 answers · asked by Anonymous in United States

If I sell a house and buy another one with cash, can I do the 1031 tax exchange paperwork and the income tax paperwork myself legally, or am I forced by law to use an intermediary?

2007-06-30 15:50:52 · 2 answers · asked by hiker 2 in United States

My employer pays for my college tuition (checks are sent directly to the school) which is very high (38% of my salary!). Do I have to pay taxes on this amount? I pay for books and supplies, can I deduct that somehow?

2007-06-30 15:47:03 · 3 answers · asked by Anonymous in United States

2007-06-30 13:47:24 · 7 answers · asked by koutetsu12 3 in United States

My Salary is 32,000.

2007-06-30 13:36:44 · 1 answers · asked by soul_brotha_4_life 1 in United States

My husband just received a tax levy for garnishment of wages, and he will be claiming himself and both of our children. My question is, if we are married and filing jointly, and he claims both of the children on the levy, can I still take a deduction for exceeding $1500 in childcare expenses? The forms for levies do not allow for this deduction, so he cannot take it, and I figured that because we are filing jointly, I should be able to claim the deduction because we are paying the childcare costs. Hoping for an answer soon, because we only have until Monday to file this paperwork. Thanks!

2007-06-30 13:29:26 · 2 answers · asked by Anonymous in Other - Taxes

I need to know if you are suppose to be a salary employee, is your check suppose to be deducted if you are late or absent? I live in California.

2007-06-30 13:19:10 · 4 answers · asked by Miss. Tee98 4 in United States

I am well familiar with the guidelines around when to pay capital gains taxes on the profits from the same of a primary residence. The scenario I have is that I sold a home after living it for over two years. I then took those proceeds to use as a downpayment on another home. However, the home we bought is not for us and we want to move to something smaller -- only six months after we bought it.

We will take the proceeds of the second home and put it into the third home. However, is there any point during this transaction that I would have to pay taxes on the proceeds from the first home because I'm not waiting two years again? Or will I only pay taxes on the proceeds from the second to third house because it was less than 2 years?

Thanks

2007-06-30 12:23:44 · 2 answers · asked by Mark S 1 in United States

How could you figure out, in advance, the dollar amount of deductions each paycheck.

2007-06-30 12:07:18 · 2 answers · asked by rockwitme4000 1 in United States

2007-06-30 11:39:19 · 1 answers · asked by mia 2 in United States

i plan to buy laptop in California, how much is tax there on electronic goods on average?

2007-06-30 10:38:53 · 3 answers · asked by Anonymous in United States

Would a married person who is receiving $42000.00 in combined pension and early social security (age 62)-and who has $12,000 in annual medical insurance fees-be taxed at the 85% level on any earnings over the $44,000.00 limit for those taking early Social Security. Or would the $12,000.00 Health insurance premiums be deducted from the $42,000.00 income giving a person the ability to earn 14,000.00 per year prior to the 85% tax rate which I understand is after the earning of about 44,000 currently? This is hard to write so it is clear. Thanks for reading it anyway.

2007-06-30 10:18:35 · 4 answers · asked by Anonymous in United States

2007-06-30 10:07:27 · 38 answers · asked by Wonderingplz 3 in United States

2007-06-30 09:18:46 · 7 answers · asked by bigc 1 in United States

2007-06-30 08:29:17 · 2 answers · asked by lena 2 in Other - Taxes

I am usually liberal on economic issues, but lets really think about this. The wealthy use the least amount of public services, yet we tax them more?

Is it right to tax people more just because they have more to give?

I know when there are tax breaks, they get the biggest break, but is that really reliable considering they have to wait for the break to come along.

It just seems like a really bad deal for rich people

Is there anyone out there that could come up with a legitimate reason as to why rich people should pay more taxes?

2007-06-30 08:00:58 · 7 answers · asked by Anonymous in United States

I am usually liberal on economic issues, but lets really think about this. The wealthy use the least amount of public services, yet we tax them more?

Is it right to tax people more just because they have more to give?

I know when there are tax breaks, they get the biggest break, but is that really reliable considering they have to wait for the break to come along.

It just seems like a really bad deal for rich people

Is there anyone out there that could come up with a legitimate reason as to why rich people should pay more taxes?

2007-06-30 07:54:03 · 4 answers · asked by Anonymous in United States

I am usually liberal on economic issues, but lets really think about this. The wealthy use the least amount of public services, yet we tax them more?

Is it right to tax people more just because they have more to give?

I know when there are tax breaks, they get the biggest break, but is that really reliable considering they have to wait for the break to come along.

It just seems like a really bad deal for rich people

Is there anyone out there that could come up with a legitimate reason as to why rich people should pay more taxes?

2007-06-30 07:45:06 · 4 answers · asked by Anonymous in United States

I think it's unfair.

2007-06-30 07:40:58 · 6 answers · asked by rockysimon2005 3 in United States

I am a small business gaining income with independent contractors who work with me. I have income form other agencies as an IC but am growing with private clients, and would like to wean out of the IC status. I do sign confidentiality agreements with my clients, and also at the time receive 1099 from the companies I work with as an IC, I plan on submitting my new EIN and they now want to send me two 1099, one as IC and one with new EIN. does this pose a problem?

2007-06-30 07:19:34 · 2 answers · asked by CarolLee K 1 in United States

I had to go to the emergency room several months ago. My health insurance covered 80% of my total hospital stay. I owed about $1500.00 when it was all settled. I didn't have that kind of money on hand so I sold $2000.00 worth of stocks to pay for it. I have since spent the last $500.00 on prescriptions. I live in Arizona, single, and no dependents. Is there any way I can write this off? I have never itemized during tax season. Or is this something I just have to swallow?

2007-06-30 07:04:30 · 4 answers · asked by redrover928 2 in United States

We paid cash over $10,000 for a used truck at a dealership and weren't aware they had to report it to the IRS. Now we are terrified what the IRS will do to us. It was honest money from the sale of another vehicle and money we had saved personally. Does anyone know what happens after it is reported? Thanks!

2007-06-30 06:34:12 · 7 answers · asked by Bren G 2 in United States