Taxes - July 2007

I am 30 yrs. old and have worked all of my adult life, but never filed. Should I leave it alone and never file? What would happen if I did? How much trouble am I in?

2007-07-20 02:23:57 · 9 answers · asked by Anonymous in United States

Believe it........................................................... or not

2007-07-20 01:31:56 · 4 answers · asked by MagicFlakes 3 in Other - Taxes

2007-07-20 00:17:52 · 13 answers · asked by ro m 2 in United States

How do I pay for 01754 830342 - thanks

2007-07-19 21:59:14 · 2 answers · asked by I BFedup 1 in United Kingdom

Can I provide for 50% of Debtors as " Provision for Bad Debts " by debiting the profit and loss account in a particular year.
Will such a Bad-Debt expense be allowed for purpose of Computation of Income for Income Tax Returns.
What are the I-Tax rules in respect of the above ?
A detailed explanation is desirable.

Thanks in advance..............

2007-07-19 21:39:40 · 2 answers · asked by happy 2 in India

i have a part time job in california and i get $7.50/hour. Say my pay is $225 every paycheck. how much will i actually end up with in my pocket?

2007-07-19 21:27:51 · 6 answers · asked by Anonymous in United States

I am a non-resident, who recently received a notice that I have a state income tax deficincy for 2005. The reason for that is the fact that the NJ state tax authorities have not recognized my last paychecks as a proof for the state taxes paid (I didn't have W2`s at the time of applying for return). Moreover, they have notified the IRS and I do have a federal debt connected with this deficincy. However the amount owed to NJ div. of tax. was not offset by the IRS from my federal tax return. I sent to the NJ div. of tax. couple of weeks ago one W2 form and two paychecks (I received W2 from one employer out of three for 2005). They (the NJ div. of tax.)have withheld the full amount from my 2006 state tax return, but I still owe them something like $60-$70. Recently I received a notification that I have won from the green card lottery. I will do everything possible to clear this up, but could it be an obstacle for me to obtain a green card.

2007-07-19 19:50:00 · 2 answers · asked by Ivan S 1 in United States

I try to pay as many bills as possioble through my corporation in order to have all of it written off and i know that its a good thing. BUT how do you show proof of high income when you try to buy a house or a car and you can't show high personal income because all your bills are paid through the company and you dont need to write yourself high paychecks. Anyone knows what can i do?

2007-07-19 18:57:23 · 4 answers · asked by Anonymous in United States

2007-07-19 18:30:29 · 6 answers · asked by Megz 2 in United States

A few Question to be answered.
(1) I live outside of the EU but I pay taxes on my pensions I receive in the UK. I have not received any Tax notification for last year or for this. Where or how do I apply to obtain my Tax notification ?
(2) Because I live outside the EU should I be paying Taxes at all ?
(3) Due to the law I now no longer qualify for Free National Health as I live out of the UK for longer than the permited time scale allowed. But if I still pay UK Tax , should I still be entitled to get treatment on the Naional Health if I was to fly home tomorrow ?

2007-07-19 17:42:52 · 2 answers · asked by Sinbin 3 in United Kingdom

I pay UK tax and hold a UK passport but live abroad outside of the EU. I'm not a resident in this country and only remain here as long as I qualify for a visa. I applied to open a Nationwide Flexicurrent account but they declined saying I'm not a resident of the UK. So they say I have to open a International account, which I do not want. My country of abode doesn't see me as a resident. My country of origin doesn't see me as a resident. So therefore where legally do I reside ?
By the way the reason why I want a Flexi account is because I can use the Debit Card to withdraw money here without suffering any add on penalties. Where as transfering money via banks does.

2007-07-19 17:22:06 · 4 answers · asked by Sinbin 3 in United Kingdom

2007-07-19 16:20:11 · 3 answers · asked by Anonymous in Other - Taxes

2007-07-19 15:49:14 · 5 answers · asked by Kinloch K 1 in United States

2007-07-19 15:48:08 · 4 answers · asked by Kinloch K 1 in Other - Taxes

Can more than one tax credit be taken on a return? If so, which ones can be taken together? How are multiple tax credits limited?

2007-07-19 15:34:08 · 4 answers · asked by angel_rat_83 1 in United States

I haven't filed since 2003. I would have received a refund in 2004, but I was overseas and didn't have the tax forms. In 2004, 2005, and 2006 my income was foreign income and was not reported to the IRS, and I didn't file that either. I'll continue to work overseas in 2007 and 2008. Just want to be square with Uncle Sam. What would you do?

2007-07-19 15:08:40 · 5 answers · asked by Anonymous in United States

Im 18 years old and I have recently looked at my credit report, and it says I owe a $5,100 federal tax lien to my courthouse.
It says its from 1994 and im 18, I was 5 years old in 1994! If I go to the courthouse and prove that I was a little kid when this happened will they remove it from my credit history? I dont want this to hender my life, I just want it gone. Is there a way to be free of this burden? Help me please.

2007-07-19 14:52:25 · 3 answers · asked by Anonymous in United States

The standard income tax rate for Massachusetts is 5.3%. On the tax forms the last few years, there has been a box to check if you want to pay the optional, higher tax rate of 5.85%.

Does anyone know why this is on the forms? It seems crazy to me. It would be like buying something at Wal-Mart that cost $53 and the cashier asks if you'd like to pay $58.50 instead. Is there anyone out there who paid the 5.85% tax?

2007-07-19 14:26:59 · 5 answers · asked by bencas9900 4 in United States

I work online for a company based in the UK that pays me via paypal - I do not sell or anything through EBAY or auctions. So far this year, money has been tight... and I haven't stashed anything for taxes at the end of the year.

I guess I would be listed as a private contractor and would be responsible for paying my own taxes... as well my company is out of the US and no one reports my income.

I support a family of 3 and make about 45 K a year.

How much should I be saving and what do I do at the end of the year to report? For now, I live in NV which doesn't have a state tax, but in Sept - I will move to Utah.
Is there a program I should use to keep track of everything?
Also, can all those stupid paypal fees be used as an expense?

Thanks :)

2007-07-19 13:50:02 · 4 answers · asked by Willalee 5 in United States

My inlaws took out a loan in there name for a house for my husband and I. WE PAY all the morgage payments,taxes, insurance, ect. They make it seem like they only get a couple hundred $ back a year (on their taxes) for this house. I was browsing some sites and they said more like $4500, but I am not sure if that is correct. So can anyone give me an estimate on what they might get. The apprasal is valued at atleast 80,000 could possibly be more. We bought the house for 54,000
the intrest rate is 8.9500. Any help would be great!! Thanks

2007-07-19 13:48:46 · 2 answers · asked by asldkfalsdfkj 2 in United States

in the end you owe the government and them...

2007-07-19 13:19:03 · 6 answers · asked by QUETZAL 1 in United States

I know IRS allows you to have two qualified homes and deduct interest on them, even though you don't live in the second home, as long as you don't rent it out, or you don't put it up for sale during the year.
How about if I dont' own a home (rent in one state) and buy a house I intent to live in, down the road, in another state. I don't rent or sell that house.

Is the interest tax deductible? I cant' finf this case in IRS pub 936

thanks!!!

2007-07-19 13:06:23 · 3 answers · asked by UA_Tucson_AZ 1 in United States

i am 17 and have a small job... i make less than $3,000 a year. i have been paying federal and state taxes which i don't ahve to. do i have to file a tax return and what if i am a dependent on my dad's salary?

2007-07-19 12:27:40 · 6 answers · asked by Anonymous in United States

i just got hired at smoothie king and he said i needed to fill out a W2 form. what the heck is that?

2007-07-19 12:26:18 · 10 answers · asked by cowmoomoo 3 in United States

Can a wage garnishment be enforced on a 1099 independent contractor?

2007-07-19 12:09:15 · 4 answers · asked by Barbara A 1 in United States

since he doesnt works? or my 2 dogs? because 130 is alot of money.

2007-07-19 11:58:46 · 6 answers · asked by Daniel R 1 in United States

If I sell my rental property this year as opposed to next year will I have to pay capital gains? I am in the 10-15% income tax bracket. Will the capital gains be calculated as income for the year I sell it and possibly send me into the next bracket? Does this have to be a long term sale to qualify?

2007-07-19 11:21:07 · 3 answers · asked by josh609 1 in United States

the irs still get their money?

2007-07-19 11:01:44 · 6 answers · asked by QUETZAL 1 in United States

2007-07-19 10:59:16 · 2 answers · asked by Anonymous in Other - Taxes

Are you allowed to deduct student loan interest from your taxes each year when you file?

2007-07-19 10:20:07 · 5 answers · asked by ? 3 in United States