Taxes - June 2007

I'm divorced and have two children. By decree I can deduct one and my ex can deduct one. I'm disabled and on SS disability and that is not taxable so I really don't even need to file. What would be the benefit to my ex be if I were to assign that deduction to them. There is a simple IRS form for that purpose and I figure why give the Gov't the $$...?

2007-06-12 10:59:44 · 3 answers · asked by tropicals99 2 in United States

my parents have their home under the living trust; when they pass on and the house goes to me (im the benificiary), will i have to pay the property tax rate assessed at the newest market value or do i pay the existing property tax rate assessed when my parents bought the home?

2007-06-12 10:55:31 · 4 answers · asked by norcal408 1 in United States

I was wondering if my fiance who is running his own construction business(without a dba) can collect sales tax? His brother said he needs a tax id number, but my mom never did she just had a dba, so i was wondering i fhe needs one or not inorder to collect something that we have to pay?

2007-06-12 10:44:35 · 8 answers · asked by jon's bella babe247 1 in United States

This is a U.S. business

2007-06-12 09:50:45 · 7 answers · asked by samw3 2 in Other - Taxes

My dance class needs to raise $40,000 dollars?! I need some links that will get me to a site that a shop gives charitable donations to organizations!

2007-06-12 09:28:00 · 2 answers · asked by Rayna P 1 in United States

After you have claimed a loss for three years on a home based business and it still was a loss in the 4th year, can you claim those losses or should you stop claiming the loss?

2007-06-12 09:19:44 · 3 answers · asked by jaysnh2 1 in United States

Will there be fees? Grace period? Please help!

2007-06-12 08:14:54 · 9 answers · asked by Anonymous in United States

2007-06-12 08:14:04 · 3 answers · asked by ash j 2 in United Kingdom

Hi, this is a follow up question to my original.

Most have said I cannot deduct the mortgage interest and property tax that was paid on this property that I was put on deed toward the end of the year.

How can IRS actually know that it wasn't me paying this?

If I provide funds to my mom earlier this year to make her mortgage payments and tax payments, isn't that considered me paying for it?

At the end of the year, the mortgage companies will have both my name and my moms on the 1099 as well as the property tax reciept with both my name and hers since by the time they generate this i will be on the deed too right?

2007-06-12 07:49:52 · 5 answers · asked by pc 1 in United States

2007-06-12 07:29:01 · 3 answers · asked by Mario S 1 in Other - Taxes

soo im getting a job and im under 18, so minor; and my employer wants to know if i wanted to claim exempt or zero. someone tell me what it is and which one i should choose.

employer: supermarket


thanks

2007-06-12 07:18:08 · 6 answers · asked by nomansland 2 in United States

Someone I worked for a few years ago is being investigated be the IRS. At the time I worked for him, there was a period where I would calculate the sales tax owed and fill out the little coupon he had to turn in to the IRS. He is in a lot of trouble now it seems, for not paying his taxes. Could this cause any heat for me? I guess I just worry about my signature being on that little coupon. I have gone through the whole interview and afadavit(sp?) process, answering all the questions the IRS had about my time employed there.
I guess I am just a little nervous because the IRS is made to seem like this horrible agency and I do not know much about all the regulations and laws they have.

2007-06-12 07:10:17 · 4 answers · asked by jefapralenes 1 in United States

I am a US citizen and graduate student in MA

2007-06-12 07:00:21 · 7 answers · asked by lucky7mcnugget 1 in United States

I know a mother that is claiming this credit for a child that is not residing with her. I do not feel this is legal and would like to know how to report this fraud

2007-06-12 06:48:41 · 4 answers · asked by Anonymous in Other - Taxes

If I made a mistake and I have to pay back money, will they work w/ me. I am a single mom and I don;t have extra cash just laying around. I am just sick to my stomach!

2007-06-12 06:14:04 · 6 answers · asked by Jeannette z 1 in United States

my wife and i have seperate bank accounts, she has the mortgage payment automatically taken out of her account and i write her a check for half every month in her name to be deposited in her personal account, does she have to report this as income, she doesnt do that now but should she

2007-06-12 05:50:42 · 3 answers · asked by Anonymous in United States

my wife only claims on taxes what her company checks are written out for, she is a day spa owner and the company writes her a check every 2 weeks,and this is the amount she claims on her taxes, her personal bank account however shows that she has deposited about 20,000 more than what she made, can this 20,000 be considered income as well

2007-06-12 05:35:03 · 10 answers · asked by Anonymous in United States

I have a friend that told me that they received an approximate $4000 over-refund from the government this year. They were supposed to get a refund for like $4000, but got a check from the IRS for somewhere north of $8000. They asked what I thought they should do- I told them that in addition to doing the right thing, they were highly likely to get caught if they didnt return the money. I suggested they get a CPA to guide them through the process of returning the $$ to the IRS. This was a married couple, and I know the wife wanted to return the money- but Im pretty sure the husband did not. Im 99.9% sure they just kept the money in the end. So now here we are about 4 months after they got the $$, and Im pretty darn sure they kept it, and I know they havent heard a thing from the IRS. What are really their odds of being caught? Am I just going to look like an alarmist for telling them that they were almost certain to be caught, when in reality, they werent?

2007-06-12 05:03:38 · 11 answers · asked by bmwdriver11 7 in United States

When I file for IRS tax, can I deduct the real estate taxes and interest for the entire year of 2007 even though I was added to the mortgage and deed toward the end of the 2007 tax year only?

2007-06-12 04:57:41 · 5 answers · asked by pc 1 in United States

I have a temp job at a hotel where they do not take taxes out. I heard you can pay your taxes quartley so you don't have to do it all at the end of the year. Does anyone know how I go about doing this. Or who I can call. Thank you.

2007-06-12 04:01:18 · 4 answers · asked by ctanner26 2 in United States

2007-06-12 03:51:38 · 2 answers · asked by m p 1 in Canada

My ex-husband claims my oldest son (22 and a full-time student) as a dependent on his income tax. The only form of support he gives my son is paying for his health care coverage and occasional "gas" money. He does not help in any manner with tuition or room and board.

On the other hand, I have paid for room and board consistantly for the past year. In addition, I pay for books and other expenses that occur.

I feel my ex doesn't have the right to claim my son. Am I right? If so, is there anything I can do since my ex has claimed him for the past 4 years (with the same situation)?

**new info: My son lives in his own apartment when not in school. He lives there full-time (with me helping with expenses). The decree only covers through age 18. He has filed his own insurance, but his dad had it changed.

2007-06-12 03:47:41 · 6 answers · asked by Patty 1 in United States

i just got my first check at work and they took out over 200.00 dollars, i think they took out too much how do i know, is there something i can look at that will help me to understand how this works? please send information that will help me.

2007-06-12 02:48:01 · 5 answers · asked by haley01 1 in United States

2007-06-12 02:18:22 · 15 answers · asked by M 1 in United States

2007-06-12 02:14:18 · 5 answers · asked by Yep 2 in United States

i am registered with the telephone preference service with has cut down my marketing calls by 90% but I find they're starting to creep up again does anyone else have this problem?

2007-06-11 21:55:30 · 11 answers · asked by Sarah J 6 in United Kingdom

If you work at a restaurant/bar etc and get tips, the government can't and won't tax your tips I was told.

But is it different with strippers since they get up to a thousand dollars in a night in tips?

2007-06-11 21:44:11 · 6 answers · asked by D.O... 3 in Other - Taxes

This may sound a bit mercanary but it was Him who asked me to find out.

2007-06-11 21:40:02 · 11 answers · asked by paul m 4 in United Kingdom

Whan applying for the FAFSA... the tax return is required. However, is it possible for a person to file separately, though still married, and could a student use the parent, with whom they're living with, although the parents not divorced, as their only source of income?

2007-06-11 21:34:01 · 6 answers · asked by goldennights 1 in United States

2007-06-11 21:00:37 · 4 answers · asked by mis shataw 1 in Other - Taxes