Taxes - June 2007

settlement from taking the diet drug redux

2007-06-07 16:23:54 · 2 answers · asked by bubey2002 2 in United States

if a non US resident holds a Chinese ADR, if they pay a cash dividend, do you know what's the percentage of the tax withholding is? Thanks.

2007-06-07 16:02:00 · 4 answers · asked by ppchen_2000 2 in United States

i am 19 and live in MD and my parents live in PA. and i go to a community college. can my parents claim me until i'm 25 if i have no connections with them (none, not insurance or anything)?!!?

2007-06-07 15:28:43 · 3 answers · asked by bigjdogg10 1 in United States

planning to file 1040x, due to some goof up by my tax consultant.

need a clarification....
We filed under Married , filing separately.
I wanted to know if doth me and my spouse can claim stand. deducation of 5150.

cause, my consultant..used std deduction for me(5150),,,and itemized deduction (1560) for my spouse...

inputs...plz..

2007-06-07 15:11:13 · 3 answers · asked by Raghu 1 in United States

I haven't paid any taxes for 5 years now. The problem is I don't have anyway of paying the taxes I owe. What do I do? I want to make things right but if I go to them and say I don't have any money what happens then?

2007-06-07 13:49:29 · 16 answers · asked by reputfindin 1 in Other - Taxes

2007-06-07 13:31:09 · 4 answers · asked by sjcpunx408 3 in United States

I will be paid twice a month, probably about 400 a paycheck. We file married. My husband works 2 jobs and I have this marketing consultant gig i picked up. I am an independant contractor. Can we just add this to our household income and be taxed accordingly or do I have to file quarterly and pay estimate taxes? Thanks!

2007-06-07 12:45:10 · 5 answers · asked by Anonymous in United States

I was told it was the same number by a person who was not qualified, were they right?

2007-06-07 12:23:39 · 7 answers · asked by Raymond 3 in United States

I have a pay per essay web site for college students. When we recieve an order we then forward it to an indivudial freelance writer who we pay per page. I now need to know what tax forms i need to fill out if any for my writers ( who are more individual contractors.)

2007-06-07 12:00:43 · 3 answers · asked by lh3024 2 in United States

Ok. 2 years ago when I filed my taxes I forgot to include a job that I had for the first 3 months of the year. The IRS found the discreption and basically asked for the entire return of $1400 that i got that year back. My question is if I refile for 2005 and include that other job's income, should that "mostly" clear things up? I know there may be some penalties but I would have received a larger return if i had included that other job. Please help!!! Thanks!

2007-06-07 11:59:49 · 7 answers · asked by Arizona Irish 3 in United States

2007-06-07 11:23:41 · 5 answers · asked by Anonymous in United States

seems I have been underpaying for quite a while!
I was told they can go back 3 years.
HELP!!! I am very worried.
I am current on what they originally said I owed every year.

2007-06-07 10:52:32 · 2 answers · asked by charlotte q 2 in Australia

If its good can u tell me why and if its bad can u tell my why?

2007-06-07 10:48:58 · 3 answers · asked by DaKing 1 in United Kingdom

Please help

2007-06-07 10:37:06 · 6 answers · asked by DaKing 1 in United States

2007-06-07 10:16:09 · 2 answers · asked by psibert 1 in United States

I started a new job with a friend, and they pay us with personal checks. At the end of the year I want to declare my taxes, but how much or what is the exact percent that they deduct from each pay check.. I know that the more you get paid, the more taxes you pay.. But, is there an exact percent for that? I just want to know so when the tax period comes, I know how much I need to pay and not get any surprises. Please help!!!!!

2007-06-07 09:51:29 · 5 answers · asked by rickylorens 2 in United States

from there? how simple is paying taxes?

sorry for the questions. i am a worrier who think i will go to jail for not paying taxes (even though i plan on paying them).

2007-06-07 09:46:18 · 4 answers · asked by Dan 2 in United States

OK, it's very simple.

You pay a 5% flat tax on all income. No deductions. AND you pay a 5% consumption tax on everything purchased.

We raise the "poverty level" to something that makes sense, and those that are below this, get all their 5% flat tax refunded. But they still have to pay the 5% consumption tax (of course, welfare will still be there to supplement to some degree).

Perhaps we could exclude certain necessities (prescriptions, basic foods, etc.)

Businesses would pay either 5% of profit...or 2% of revenues...WHICHEVER IS THE GREATEST. Why? Because if it's whichever is the least, they'll make sure that the figure it such that their profits are virtually non-existent.

Takes away the 1000's of pages of income tax prep.

Congress doesn't get as much? TOUGH! Learn to make the wise, hard decisions the rest of us have to make ever payday. Forced efficiency will result. Forget "revenue neutral."

Thoughts?

2007-06-07 09:31:41 · 7 answers · asked by Anonymous in United States

My standard deduction is $5350 and personal exemption is $3400. The way it was explained to me, if I add these together, it is the amount of money out of what I make during the year that is not subject to federal income tax.

If I make a few hundred dollars over this amount as gross income during the year (summer job), is all of my gross income that is subject to federal income tax or is it GROSSINCOME-(standard deduction+personal exemption) that is able to be taxed by federal income tax?

2007-06-07 09:16:27 · 3 answers · asked by comemrtaxman 1 in United States

Right now I have 1 exemption on my W-4 (it's for line B: I'm single and have only one job), but now I would like to change it for line A (No one else can claim me as a dependent). But I was told by a coworker that if I add another exemption then I would have less taxes taken out, but at the end of the year I could actually end up owing money. This year I got a refund (241.00 refund for making ~5,000.00) and I'm just worried that if I change my exemptions then I will end up owing money at the end of the year instead of getting a refund. Just so you know, I'm a 21 year old college student with a part time job. Thanks.

2007-06-07 09:08:09 · 8 answers · asked by Hunter 1 in United States

In 2005 taxes i forgot to add a W-2 form for a job i only had like two monthes (i was lazy to pick it up and thaught I'd be losing out on a larger return so thats why i didnt really think about it) now it turns out that they over paid me be $995. They are giving me the option of making payments. Does anyone know if they will be willing to take it out of next years return?? I get returns every year so im hoping they will. Yes or no??

2007-06-07 08:44:53 · 6 answers · asked by x_masangel69 2 in United States

If you make money on a stock deal, do you just capitol gains tax or do you also social securties and mediacare tax on the earning?

2007-06-07 08:05:55 · 3 answers · asked by punjabi_94901 1 in United States

2007-06-07 08:00:35 · 3 answers · asked by angel_rat_83 1 in United States

2007-06-07 06:32:40 · 3 answers · asked by jeremiah.smith@btopenworld.com 1 in United Kingdom

1000 dollars every year to the IRS. I'm married (we file jointly) and we own a house. Should I be claiming 1 or 2 on my W4 to get money back? I don't know what's going on.

2007-06-07 06:05:21 · 7 answers · asked by Anonymous in United States

2007-06-07 05:38:00 · 7 answers · asked by gas185 1 in United States

2007-06-07 05:17:03 · 2 answers · asked by kenneth j 1 in United States

I already transferred my home on 1996. I was reading about
property tax increases in California and saw that a change in ownership can trigger a higher tax!
I am very worried! Can I be reassessed after all these years?

2007-06-07 05:16:51 · 2 answers · asked by charlotte q 2 in United States

I'm about to receive a small inheritance of about $25,000 from an aunt who recently passed away. From what I understand the taxes on that have already been paid via the estate. However, I wish to give my mother the check for $25,000 because she paid for the cost of my college.

Obviously college cost me a lot more than $25,000 but we do not have an official contract written up since we're family. Will giving her that money be subjectible to a gift tax or is there a way around this since its to reimburse her for the cost of my college tuition?

I realize anything more than $11,000 can be taxed, but I also realize that tuition is something that is exempt to this so I'm not sure how to go about this.

Thanks for your help in advance.

2007-06-07 05:03:24 · 8 answers · asked by eerfoolwvu 2 in United States

i recently filed my taxes in early january in TX and noticed i had over reported my income, i was told by my tax acct to let it go once the irs gets the final w2 they will make the adjustment and send the necessary refund, is this true or should i do an ammendment?

2007-06-07 04:39:19 · 6 answers · asked by dbslove34 1 in United States