Taxes - July 2007

2007-07-23 00:16:07 · 13 answers · asked by bartyontour 2 in United Kingdom

Received several quotes for vehicle repair. Quotes give a price and add "plus tax". Can I assume that tax will be calculated on the entire quote (labor and parts) or just the parts.

2007-07-23 00:15:42 · 4 answers · asked by People for the Ethical Treatment of Vegetables 5 in United States

2007-07-22 23:24:45 · 9 answers · asked by paul.cowan@sbcglobal.net 1 in United States

Please explain the meaning of the above two terms in detail . An answer with a concrete example will be appreciated.
Thanks.....................

2007-07-22 22:42:06 · 1 answers · asked by happy 2 in India

How much is Federal tax for EACH INDIVIDUAL STATE?
I am looking for answers with percenatges (10% 15% 20% of gross pay, etc..)

2007-07-22 21:02:33 · 3 answers · asked by Anonymous in Other - Taxes

How much is Federal tax for EACH INDIVIDUAL STATE?
I am looking for answers with percenatges (10% 15% 20% of gross pay, etc..)

2007-07-22 21:02:17 · 3 answers · asked by Anonymous in United States

2007-07-22 20:49:55 · 2 answers · asked by Anonymous in United States

I am a 27 yr. old student at an accredited helicopter flight school and I am wondering about the tax advantages(if there are any) involving any available deductions, ie. tution? fees? books? medical? equipment?etc. I am pursuing my certified flight instructor (CFI) and plan on working in the gulf. Any related info would be appreciated. Thanks.

2007-07-22 19:59:33 · 1 answers · asked by KT 1 in United States

Is income tax the amount the government takes from your paycheck ?

2007-07-22 19:56:16 · 6 answers · asked by Anonymous in Other - Taxes

If I earned a $750 in the Dallas area of Texas, how much am I actually going to take home after tax.

18 years old, living on own in 1 bedroom apartment.

(Can you provide answers and paycheck tax tables? Thanks)

2007-07-22 19:49:02 · 5 answers · asked by Anonymous in United States

Ours is a private limited company primarily into Advertising business and have advanced unsecured loan to a firm to the tune of Rs. 10,00,000/-
This loan has turned bad and no chances of recovery.
What is the accounting treatment to write-off this bad loan?
Is this expense of Rs. 10 lakh deductible expense from Income tax point of view.

Please guide me on the above issue

2007-07-22 19:37:12 · 1 answers · asked by happy 2 in India

My divorce was final in March of 2006. Still legally married on Dec 31, 2005, my now ex-husband took it upon himself to file without me as head of household and claimed our son on his return. The divorce nor any of the stipulations as to who can claim what or whom were not finalized at the time he filed. I ended up having to file single and had to pay in while he got a rather large refund. My question is this, shouldn't you file according to what your status is on 12/31 of the tax year you are filing? If so, then is it possible to file an ammended return for that year and maybe receive a refund? If an ammended return can or should be filed, how do I go about doing that and what info do I need to include?

2007-07-22 18:53:46 · 10 answers · asked by Anonymous in United States

to do a 1031 you have to buy the next property and have the same loan amount on it as your old one. "like kind" or upgrade. so if i do a 1031, and my relinquished property had a 400,000 loan on it, I will always have to keep a 400,000 loan or higher on the next proerties. so my monthly payments will ALWAYS be the same, no matter how many times i do a 1031.

or is it...i have a 400,000 loan, in 5 years i pay it down to 300,000, and when im selling it its at 300,000 i have to have a 300,000 loan on the next property, then hold it and pay it down to 100,000 for example, then the next house i exchnage has to have a 100,000 loan amount? or is it based on the loan amount i took out at the time i bought it on my first one?

is it possible to build equity to where i have no loan on a propertyu with a 1031, or is a 1031 only for upgrading properties (keeping the same amount of loan on it, so my paymetns will be the same) but because its upgrading, it can produce more cashflow?

2007-07-22 18:47:32 · 5 answers · asked by beach_babe971 2 in United States

2007-07-22 18:24:22 · 2 answers · asked by angel_rat_83 1 in United States

I am an independent contracting physician for a medical group. I heard you can lease a car and at the end of the year you ger the entire leasing amount back. Is that true? is there a limit to what I can lease? does the car need to be at certain weight? thanks for helping. I just don't want to get audit.

2007-07-22 18:22:56 · 2 answers · asked by hjhj 2 in United States

it is not taxed. How do you give some of the proceeds to your children without incuring tax obligations?

2007-07-22 18:02:16 · 2 answers · asked by Rabbit 5 in United States

2007-07-22 17:57:01 · 2 answers · asked by John A 2 in United States

2007-07-22 16:01:10 · 3 answers · asked by 6th Finger 2 in United States

2007-07-22 15:14:58 · 2 answers · asked by Jason T 2 in United States

I am very confused about how to fill out my W4.

I am 23 but I think my parents still claim me as a dependent because I don't make much money.

I started a job as a waitress, so I don't know how much money I am going to make there (since my income will mostly depend on tips).

Should I file for withholding?

If so, which lines do I need to fill out?

2007-07-22 14:44:44 · 3 answers · asked by Magic 8 Ball 3 in United States

2007-07-22 14:03:51 · 6 answers · asked by Carl 1 in United States

If you live in a hot air baloon, blimp or dirigible would you still have to pay property tax or some other taxes?

2007-07-22 14:01:53 · 4 answers · asked by Anonymous in United States

2007-07-22 13:01:34 · 6 answers · asked by Ann Marie 2 in United States

I'm working at a new job in Kansas City, Missouri, and I'd like to put together a budget, but I'm not sure how much money I'll have to actually work with. Is there a good way to figure out what percentage will be taken from my paycheck to pay federal taxes, state taxes, social security, etc... ?

2007-07-22 11:39:23 · 4 answers · asked by Texas T 1 in United States

I live in the U.S., and I recently participated in a medical study for which I was paid about $5,000. Basically, you are given a trial drug (mine was a generic arthritic pain reliever) and you live in the medical facility for a week or so, with your blood samples taken every so often.

I'm considering doing another one, but a friend of mine mentioned that I might have to pay tax on the amount I earn differently if I do two studies rather than one. He said he thought that if I do only one,II would only pay tax similarly to what it would be if I earned it at a regular job. But if I do two or more, I would have to fill out my federal tax return differently and end up paying tax as if it were a business venture (I would owe far more).

Obviously, I'm less inclined to do another study if I'll take a major hit in taxes on both studies. I'm not asking for any concrete tax advice here, I'm just wondering if there's any validity to what my friend says about doing one versus two.

2007-07-22 10:53:12 · 1 answers · asked by Anonymous in United States

it only seems fair since they dont need the money and we have to pay tax when we need it!

2007-07-22 10:06:34 · 17 answers · asked by ms_jaffa_cake 2 in Other - Taxes

I live in MA and want to know if my employer is paying the monthly payroll taxes. Is there a dept within the IRS that handles that or am I not privy to that information?

2007-07-22 08:58:23 · 5 answers · asked by DAN S 2 in United States

I have a general partnership with minimal assets and liabilites that I want to change to LLC. Do I just disolve the partnership and transfer accounts to 2 member LLC? This is my first year filing a tax return for the partnership and tax year 2007 I want to be an LLC. Any help appreciated. Thanks

2007-07-22 08:57:12 · 3 answers · asked by Anonymous in Other - Taxes

If I set up an offshore company for the purpose of trading stock and investing, can I save money on capital gains tax? I am considering creating an offshore company in a country with no capital gains tax. I could then distribute money to shareholders (myself) as dividends thus lowering my taxes. Has anyone done this? If so, what country should I incorporate in and what is the cost?

2007-07-22 08:19:19 · 2 answers · asked by SF 1 in Other - Taxes

Would a National Sales Tax dedicated to paying that portion that employers pay for their employees who are citizens or permanent alien residents who are employed in the United States make sense? Would it give incentive for the employers to stay in the United States instead of going over seas? Would it not give a greater base to draw upon to support Social Security and Medicare because of the increased employment here at home? And with anything that is left over shouldn't it be applied to paying down the National debt?

2007-07-22 06:57:19 · 6 answers · asked by reuben.nieves 2 in United States