Taxes - June 2007

The US government gives immigrant business owners a 5 year tax break. Most businesses pay %50 of their profits in taxes. Many of these immigrant business owners sell the business to a family member and they are also given a 5 year tax break. If I as an American started a business...any business...landscaping, small store, nail salon, I would make half the money a immigrant would. My question is: should this continue or should this be a topic for the 2008 election?

2007-06-08 21:49:07 · 7 answers · asked by Anonymous in United States

Curriculum Vitae
Mr. Liao Xiaojun
Vice Minister of CTB

Date of Birth 12 March, 1952
Place of Origin Chongqing
Education B.A. in Economics,
Tianjin Finance & Economy Institute
Professional Experience
1985-1991 Director, General Office of CTB
1991-1995 Deputy Director-General, General Office of CTB
1995-1996 Director-General of General Office & the Spokesmanof CTB
1996-1999 Director-General, Personnel& Education Department of CTB
1999-2002 Assistant Minister of CTB
2002.7 to date Vice Minister of CTB

2007-06-08 20:54:27 · 2 answers · asked by Anonymous in Other - Taxes

We are setting up an internet store in California. My partner told me that if we ship within California, we have to charge sales taxes according to the ship-to address' County tax rate -- instead of the tax rate of the County we are located (they differ by as much as 1%) Is this true? Can you please point me to an official publication I can reference, since this is a business and cannot afford to make a mistake.

2007-06-08 20:50:18 · 3 answers · asked by John Quest 2 in Other - Taxes

I filed my taxes by the due date and I owe back $698 I put exempt on my W2's I am a full time college student do I still owe taxes I made $16,000 for the year of 06 I have not received anything in the mail about making payments to pay my taxes

2007-06-08 19:07:33 · 6 answers · asked by love live laugh 2 in United States

Hi, I and my brother inherited some land that is in CRP (conservation reserve program). They payment they give each year is about 9,500$, for both of us as its in a trust. We already paid 2.500$ in property taxes. I was wondering if we had to pay oe even file an income tax return, as it is our only income. I know the low income exemption is 8,450$, but does anyone know if my situation is different. I don't know where else to ask, except an accountant, which I can't afford. Thanks very much for any help.

2007-06-08 17:41:32 · 4 answers · asked by mr.longcoats 1 in United States

I moved to USA from Europe and I will stay here for about two years. I am not planning to stay in USA forever;it means I do not want any retirement here. Do I have to pay for FED MED and Fed OASDI known as Social Security and Medicare.

2007-06-08 17:11:41 · 5 answers · asked by selmadaut 1 in United States

Do you pay sales tax on 99 cents or less. I've heard that you don't.

2007-06-08 12:24:42 · 8 answers · asked by Adrienne W 1 in United States

it's a salaried job at $40,000 a year in georgia. i'd also like to know if i should expect a certain % to come out of monthly commission checks.

2007-06-08 12:21:25 · 3 answers · asked by Anonymous in United States

My mom will give me her house with about 50k in equity already. If she files the form 709 with IRS to show the gift to me, will she pay the tax or will I pay the tax? I know she's the one who will file but who actually pays?

2007-06-08 10:50:03 · 7 answers · asked by s c 1 in United States

what is the procedure to apply for a PAN card
and where we can get the forms in hyderabad

2007-06-08 10:31:34 · 6 answers · asked by Srinivas N 1 in India

My mom wants to give me her town home for what she still owes on the house. It's got about 50k equity right now. My mom wants to take her name off and put my name on the deed so that I am the sole owner.

I already k now the steps I must take to do this but I'm just wondering what are the tax implications?

I know that my mom mayhave to file a gift tax return to IRS but isn't there some sort of lifetime limit to the amount of the gift where she won't have to pay taxes until that limit is reached?

Also what is the amount of gift based on? The value of the home minus whats owed?

2007-06-08 09:46:37 · 3 answers · asked by s c 1 in United States

If the IRS sends you a letter saying that you need to sign your tax return form, but you've already completed, signed, sent your form, and recieved your money several months earlier, why do you need to complete and sign the same form again?

2007-06-08 08:45:33 · 3 answers · asked by sunshine 1 in United States

2007-06-08 08:25:25 · 6 answers · asked by POPCORN 2 in United States

I live in Wisconsin. I am considering taking a new job at a university. If I take the job, I will have a pay cut that will put our joint AGI next year at $45K; but I will be working for a University and will be entitled to free tuition if I take that job. My husband and I will each recieve about $15K worth of free tuition for graduate degrees if I take the job.

Is the value of the tuition that we would recieve for "free" ($30K) a taxable item?

If it is taxable, does that mean that we get to take deductions related to being a student, as if we had recieved and extra 30K in income, and then paid $30K in tuition?

Thanks!

2007-06-08 08:25:16 · 3 answers · asked by dasielady 2 in United States

I get paid $15 an hour. My boss pays us every 1st and every 15th of the month instead of paying us weekly. I get paid 86 hours in order to compensate the other weeks. None of those hours are overtime, obviously.

I'm single with no dependents and after taxes I receive a pay of a $1000 and some change. I get taxed $290 approximately!

Does this sound right to you?

2007-06-08 08:03:25 · 7 answers · asked by Anonymous in United States

In 2005 I did a lot of online stock trading and never filed my taxes for that year. It was a small account but because I traded it so much it appeared that there were tens of thousands in gains. When losses are factored in, however, the small 10,000 account actually lost money overall, so there are no gains to be taxed. The problem is interest and penalties have accrued on the assumed taxes owed. My question is, Will the pentalties and interest be removed once the taxes are filed and the losses written off from the gains? I never had more than 10,000 in the account and eventually lost most of it. The government cant expect me to pay 10,000+ in interest and penalties, can they?

2007-06-08 07:14:22 · 7 answers · asked by Bill 1 in United States

2007-06-08 06:19:19 · 5 answers · asked by Anonymous in United States

I bought something outside of the country and had to pay customs charges. Now I need to return and exchange some items. Do I have to pay custom charges on the exchanged items even though I have already paid them the first time?

2007-06-08 05:44:03 · 2 answers · asked by bleuberrie80 2 in Other - Taxes

Why doesn't our Government have to show proof of the law that forces us to pay Federal Tax?

The Brown's were taken to court and found guilty of tax evasion. When the Brown's asked the Government to produce the law that demands that we American's pay Taxes, they could not produce it.

They could not produce it because the 16th Amendment was never officially ratified and was never made into a law.

SO THERE IS NO LAW!

But when you decide not to pay a forcefull tax to the Fed's, they show up at your house with contracted Government mercinaries, tanks, snipers, helecopters. They cut your power, your phones and cell phones.

So, let me get this right.

There is no Tax law, but they can kill you anyhow?

Can someone show me the actual law? The Brown's are offering $1,000,000 in real estate to anyone that can produce the actual Tax law! We are all slaves in our own Country and must now obey the Federal masters!

Didn't we leave England and form America because of taxation?

2007-06-08 05:42:56 · 6 answers · asked by scottanthonydavis 4 in United States

A tax collector?

2007-06-08 05:18:40 · 11 answers · asked by natte 2 in Other - Taxes

Help! I need to change my status to dependent on my 1040EZ 2006 tax return. I know I need to use a 1040X, but where and how do I change my status? On my 2006 1040EZ tax return, I claimed myself, but then my father also claimed me too on his, so now I need to change my status to DEPENDENT. How do I do this??? HELLLLPPPP!!!!

2007-06-08 05:07:48 · 4 answers · asked by gUrLiE a 1 in United States

What if I don't submit a Tax Info? Would I still receive payments from the site?

2007-06-08 03:57:33 · 2 answers · asked by phoenix 2 in Other - Taxes

My CPA filed an extension for doing my business income tax return for 2005 and now for 2006. She keeps saying she will get to it, but doesn't. I am getting an ulcer over it. How can I make her do my taxes? She is impossible to get hold of. Her office manager relays all messages. The CPA is in poor health. What will I do if she can no longer do her job? What can I do to force her to do my back taxes! She has all the paperwork.

2007-06-08 03:53:55 · 10 answers · asked by Blossom 4 in United States

2007-06-08 03:52:06 · 7 answers · asked by soe 1 in United States

2007-06-08 03:14:41 · 3 answers · asked by JANICE MUELLER 1 in United States

I noticed back in April that my pay was much lower than normal and then I noticed I started paying Medicare and OSRA (or something like that) then. Now this is strange because I'm a part-time worker and full time student...what's the deal??? Is this a mistake?? I'm not knowledgeable of taxes or anything so please help! thanks

2007-06-08 01:31:39 · 6 answers · asked by Anonymous in United States

2007-06-08 00:08:52 · 2 answers · asked by lindseyb123123 1 in United States

2007-06-07 22:32:52 · 4 answers · asked by lilmizeverything21 1 in United States

2007-06-07 22:28:51 · 7 answers · asked by SANDRA D 1 in United States

Or, not having to claim the money as income to the I.R.S?

2007-06-07 16:38:29 · 4 answers · asked by Keith 2 in United States