Taxes - June 2007

Hello. If I am a student attending a full time university, and my income is less than 500 dollars a year, and I make $2000 a year in interest income , what will I have to pay in taxes, if any. Thanks

2007-06-19 14:56:51 · 5 answers · asked by Anonymous in United States

2007-06-19 14:44:06 · 1 answers · asked by monica n 1 in United States

I bought 5 acres in a deed restricted subdivision in the Houston area 3 years ago. I paid $55,000 for the lot at that time. I am contemplating selling that property now and I have seen similar lots sell for $150,000. I am trying to find out what I could expect to pay in taxes on the gain I make from the sale to see if it is worth selling or not. I have made no imporvements to the property since I purchased it.

2007-06-19 14:23:50 · 3 answers · asked by Keith A 1 in United States

Where I'm employed I work As a Salesman and office help. I work a designated schedule and get an hourly wage and should be considered an employee, however i am treated as a subcontractor when i get paid and she has me file a 1099 tax form. To make matters worse I don't get paid overtime or any other benefits. I've talked to my accountant and he says what she is doing is very unethical and even called her on it. I basically run her business for her. What should I do? Other employess have brought it up and she gets irate and offensive. Suggestions??

2007-06-19 13:58:56 · 2 answers · asked by Dan L 2 in United States

2007-06-19 13:11:30 · 4 answers · asked by Anonymous in United States

How do I tell how much I pay for something plus tax? Like say something is $5.00, how can I tell how much it will be plus tax?

2007-06-19 13:08:57 · 2 answers · asked by Anonymous in United States

I rolled over my 401k into a Fidelity IRA. I didn't add or remove funds from the IRA during the year, though I did trade stocks. Is there anything that needs to be reported to the IRS on my tax return?

2007-06-19 12:43:31 · 3 answers · asked by Beermemarge 3 in United States

I work as a child-care provider. I do it at my home, and every year I pay my self-employment taxes. I have been doing it for 3 years now. I have 7 children that I care for on a daily basis. Would this be considered as my own business?

2007-06-19 12:40:37 · 6 answers · asked by Shirley 1 in United States

2007-06-19 12:36:43 · 6 answers · asked by BD 2 in United States

If I sell it before moving in will there be a bigger tax hit than selling it as a primary domicile?

2007-06-19 12:24:47 · 8 answers · asked by Aeron G 1 in United States

want to know if having two different claims on two different W2 will have a problem with the IRS

2007-06-19 11:46:33 · 3 answers · asked by Henry V 1 in United States

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2007-06-19 10:06:54 · 2 answers · asked by R H 2 in United States

what money can I get back, or will I most likely owe??

2007-06-19 10:06:46 · 4 answers · asked by Anonymous in United States

say you make 500 a month, in the state of Texas, how much should come out for taxes?

2007-06-19 09:31:41 · 10 answers · asked by katie c 2 in United States

I am getting a bonus on this next check. It is equal to about 15% of my salary and I can choose what percentage I want taken out for taxes. My first thought was to keep it the same as my paychecks but I am curious as to any potential benefits of doing it at a different rate.

2007-06-19 09:26:02 · 5 answers · asked by seminoledq 1 in United States

I have a lease that I will pay off. The type off lease I have, I already paid the taxes up front. The problem is the car is under my father's name even though I've been paying for the whole thing myself. Now the car will be transferred to my name. Do I have to pay taxes again? My father will have to give it to me as a gift (even though I've been paying for it the whole time) , but then would I have to report this and pay taxes again on my 2007 tax return??

2007-06-19 08:57:42 · 3 answers · asked by AYSi! 1 in United States

This was for the 2005 tax year. I used TurboTax that year and this one. Needless to say, I won't use TurboTax again.

2007-06-19 08:47:43 · 8 answers · asked by Jazhawk 2 in United States

I am selling my primary residence after 2 years and will qualify for the married $500,000 capital gains exemption. Am I required to roll that money into new property or can I knock out some debt with the excess cash?
Thanks in advance!

2007-06-19 08:16:07 · 6 answers · asked by erok2020 3 in United States

I know you guys might not have an exact number because certain info. is needed, but I have a baby in which I pay a baby sitter, and I earn around 400/week. Do you know what would be an approximate tax return for me next year??? I had a friend say about $1500.00

2007-06-19 07:39:56 · 5 answers · asked by Vane 2 in United States

What do I do now?!
I did file for the extension that ended on the 15th of this month (June) Now what do I do????
I just let it slide right on by and I didn't do a dang thing!!
And they are my hubbys' taxes that I have just screwed up.
If I send them in this late will they still accept them?!
HELP!!!!!!!!!!!!! Please.....oh ......please

2007-06-19 07:27:35 · 3 answers · asked by oodlesoanimals 5 in Other - Taxes

Going off of all the hoopla about SS being dried up by the time I retire- can I legally opt out of contributing to social security and pay it towards a different plan instead? Are there any ways at all of salvaging social security? Does anyone think the dwindling SS is actually a myth? Please share you ideas with me!

2007-06-19 07:25:24 · 3 answers · asked by quirky 5 in United States

It would be a direct shot to your pocketbook and the American free market economy.

2007-06-19 07:15:13 · 6 answers · asked by Pro-American 3 in United States

2007-06-19 06:57:18 · 3 answers · asked by themaggie5 1 in United States

Hello,

I am having a little issue with my w4. for the past 3 years i have been owing money to uncle sam.
I file single (not married live alone) ... but i have gotten a raise every year and now my salary is at 43,250. i don't want to owe any money at the end of this year so should i change anything on my w4? to reflect my raises?

2007-06-19 06:54:11 · 4 answers · asked by KTM 450 1 in United States

I am 30 years old and just learned I can file as legally blind. Any tips I should know about? Can I file for back exemptions?

2007-06-19 06:20:13 · 3 answers · asked by AzMomma 1 in Other - Taxes

My child's father owes back child support and they are taking it out of his taxes. I didnt have any problems last year, but this year I havent recieved anything so I dont think he filed. How do I know and what can I do about it?

2007-06-19 06:02:35 · 8 answers · asked by Ndpndnt 5 in United States

2007-06-19 05:59:08 · 2 answers · asked by CA resident 1 in United States

My husband and I are finally making some good money, but each check we get taxed like crazy, my husband talked to his boss and he said he would pay him with like a personal check, but that my husband would have to file a 1099. I spoke to a friend of mine who does taxes, and she said there are a lot of fees we are going to have to pay during tax season if we file 1099....does anyone know the pros or cons to filing 1099 or know a website that i can look it up??

2007-06-19 05:46:55 · 6 answers · asked by muwah22 2 in United States

My father is going to file bankruptcy for tax reasons however there is an 80,000.00 lien. I know it survives the bankruptcy, but I want to know when my father dies then what happens to my mother? Will the IRS force sale of the house since they have the lien. Or does she still have a claim to the house? She is on title if that helps.

2007-06-19 05:33:26 · 5 answers · asked by Danielle 2 in United States

I want to know because i am thinking of closing my current bank savings account to open up an internet savings account

2007-06-19 05:27:36 · 13 answers · asked by penguinprez 2 in United States