Taxes - June 2007

What are the states that do not charge federal/ state tax on retirement income or social sercurity?

2007-06-22 05:52:44 · 4 answers · asked by Sue 1 in United States

I am moving from ct to ca. Getting a new job. What deductions, if any, can I take?

2007-06-22 05:41:55 · 3 answers · asked by Sue 1 in United States

I'm involved with a loss of earnings claim, and the other side's accountants want to deduct tax and NIC from the compensation award, quoting IM361 and the Gourley case in support.
I agree this applies to awards by the Courts, but not to insurance company payouts. I have never accepted such deductions in the past. I think BIM 40105 and BIM 40751 are relevant, and the loss of earnings should be paid gross and the recipient should account for tax and NIC.

What say you?

2007-06-22 04:29:02 · 3 answers · asked by Do not trust low score answerers 7 in United Kingdom

2007-06-22 04:28:44 · 1 answers · asked by Deanna B 1 in United States

Dear,
Please help.

I already submitted my income tax for year 2006 to IRS and I just found out that I still have one more of 1099 form to report to IRS. How can I report this additional 1099 form to IRS? and What is the process to it right? Thanks, Thien Duc.

2007-06-22 04:20:26 · 3 answers · asked by thienduc 1 in United States

2007-06-22 04:16:25 · 5 answers · asked by philip S 1 in United States

My employer just received a notice to garnish, Levy, My wages. How long till they must start witholding? I am in the process of having the levy released due to financial hardship. any help would be grat.

2007-06-22 04:05:39 · 6 answers · asked by Anonymous in United States

Help! I qualify FOR NO ASSISTANCE at all. TONS of people tell me it is a joke that I do not. But I dont. This is my after tax salary-what counts and how I look at it. Family of 4 2-adults 2 babies. Any ideas on how to work it? Quit stay home? I am the bread winner though. Child care #1 payment.

2007-06-22 04:04:51 · 4 answers · asked by Anonymous in United States

My ex husband and I share(d) custody of my daughter and the original agreement says that each even year he claims her on taxes and each odd I claim her. At this time he was also seeing her 6 months out of the year. Now he has turned into a dead beat dad and hasn't seen her in almost 1.5 years and he expects to claim her this year.

My question is that since she hasnt' set foot in his house in so long nor does he pay any assistance does he have the right to claim her?
I don't want to mess up my taxes by assuming he's a total dead beat.

Thanks!

2007-06-22 03:22:27 · 5 answers · asked by JellyCat 4 in Other - Taxes

I had some money in a UK bank savings a/c earning 5.85% interest and paying 20% tax.

I have just now used it to buy some shares in Lloyds bank, earning 6% dividend and paying 10% tax. There are also good prospects rising income and capital appreciation. Surely Lloyds bank is safe enough and I can sell the shares and get my money back in 3 days, whenever I want..

Was it not a brilliant idea? You can do it also as long as you drink a toast to my good health.

2007-06-22 03:21:02 · 5 answers · asked by Anonymous in United Kingdom

PA IRS sent me a letter with their own figures changed from my tax report, with the result of a lower amount of refund to me. All of differences comes from that they remove the deduction of capital loss (Line 5 on PA-40 form) and make my total taxable income higher.

I asked the staff of PA IRS on phone, and she told me that it is simply because a PA tax payer can not report capital loss for deduction (or you can say they will not let you deduct it even though you report the capital loss), while if you have capital gain then you must report it and therefore pay a higher tax because of the additional earning.

I was never aware of this regulation, if it does exist instead of the staff giving wrongful information. So I wonder whether there is really such a tax law for PA state tax 2006? Any link to the specific law? Would people who are familiar with PA state tax laws please answer this question please? Thank you very much in advance.

2007-06-22 02:06:41 · 3 answers · asked by anthonypennstate 1 in United States

I'm familiar with the phrase "The more you make, the more they take". But is there a pre-set percentage for taking taxes out of your check or does it vary?

2007-06-22 01:31:34 · 10 answers · asked by hodges.mimi 1 in United States

How would the interest deduction being treated at the end of each year if a father and a son buying a house together, and both are on the loan together, when the father already owns another house as primary home? They won't be filing taxes jointly. So since they will be filling out a tax crediting form (1098 or 1099?) at closing, would the interest deduction be split down the middle?

2007-06-21 21:07:26 · 3 answers · asked by robert w 2 in Other - Taxes

2007-06-21 21:00:18 · 2 answers · asked by blueskys 2 in Other - Taxes

2007-06-21 19:28:00 · 3 answers · asked by Anonymous in United States

What are the tax advantages and disadvantages of paying alimony in a divorce rather than having a property settlement?

2007-06-21 18:53:10 · 5 answers · asked by angel_rat_83 1 in United States

I just realized that I have no Idea where I placed my tax return refund checks, who do I talk to to get replacements? Can I even get replacements, or am I just plain screwed???
A pre-emptive thank you to all answerers, thanks.

2007-06-21 18:52:23 · 6 answers · asked by Anonymous in United States

I just got hired as a lab tech at a medical device company. It is an entry level job, and is part time as I am still a student. They are hiring me as a 'consultant' even though I have no special expertise. I assume they are doing this for some benefit of theirs. Will my taxes end up being more than if I were an official part time employee?

2007-06-21 17:42:17 · 3 answers · asked by Brian H 2 in Other - Taxes

I'm a sub-contractor, what do I need to do to not get totally screwed come tax time, like save receipts etc thanks

2007-06-21 17:03:21 · 5 answers · asked by dusty8940 6 in Other - Taxes

2007-06-21 16:52:20 · 5 answers · asked by m&m 1 in United States

Why does it seem like I'm paying the county tax twice?

2007-06-21 16:40:04 · 2 answers · asked by Anonymous in United States

In a State, you are allowed to sell up to 3 cars without a dealer's license. And you sell up to 3 cars a year. Would the money you make considered as taxable income or capital gain?

2007-06-21 16:34:02 · 3 answers · asked by Anonymous in United States

2007-06-21 16:29:08 · 4 answers · asked by Anonymous in United States

2007-06-21 16:21:45 · 8 answers · asked by jjose 2 in Other - Taxes

Is the 16th ammendment constitutional?

2007-06-21 15:20:40 · 5 answers · asked by Unbridled 4 in Other - Taxes

Specifically, Social Security and meicaid. Does it matter that the employer is in Chicago, IL.

2007-06-21 15:17:10 · 5 answers · asked by Anonymous in United States

eliminate the ceiling by making everyone pay the same percentage and make Social Security solvent indefinitely. This upsets me greatly - I feel that everyone should pay the same percentage - the rich are once again allowed to skate because of the ceiling. Isn't this a common sense approach to fixing SS, or am I missing something??

2007-06-21 14:59:36 · 6 answers · asked by Bemarian 3 in United States

2007-06-21 14:45:08 · 3 answers · asked by Deanna B 1 in United States

if i start to sell things on ebay and gain profit from it, how to pay taxes on the profit i gain?

2007-06-21 14:18:15 · 7 answers · asked by Anonymous in United States

2007-06-21 14:07:15 · 9 answers · asked by CEDRICK H 1 in United States