Taxes - July 2007

My company wants to pay out a small bonus for perfect attendance. What is the dollar amount you can give with out having to withhold taxes?

2007-07-18 04:09:32 · 2 answers · asked by Anonymous in United States

2007-07-18 03:45:06 · 5 answers · asked by Anonymous in United States

2007-07-18 03:06:40 · 0 answers · asked by cheapstakes 1 in United States

If you buy 5 ABC @ $10, the price goes down to $1, you then buy 5 ABC @ $1, the prices goes up to $6. You sell 10 ABC @ $6. So the gain you make is $5. While the average price is $5.50, are you still taking a loss on the 5 shares @ $10?

How is this reported on income tax returns? As a loss, gain, or both?

2007-07-18 02:51:19 · 6 answers · asked by Paper M 1 in United States

Why does a dead man pay taxes,this person has been dead for three years and still pays tax, Why is that?

2007-07-18 02:27:52 · 5 answers · asked by Blond Bits 1 in Australia

i clean for about 20 people. some pay by check some pay cash. i keep records of what i make as well.

2007-07-18 02:20:03 · 4 answers · asked by d23man 1 in United States

2007-07-18 02:00:27 · 4 answers · asked by Anonymous in United States

Hi Tax Gurus! We are newlyweds w/ no dependents, and we have a question about our W-4 and State personal withholding allowance tax forms. Right now we are both claiming 0 for our withholding allowances on our W-4 and state tax forms, so we are both getting the max. taken out in taxes each paycheck and get decent sized tax returns.
What we would like to do is have less taxes taken out from each check rather then get money back in the form of a large tax return. Ideally break even and not owe or receive money.
Here are our questions:
1.) Being married, between the both of us, what is the maximum number of withholding allowances are we able to legally claim?
2.) Does the number of withholding allowances on your state tax Personal Withholding Allowance Form have to match the number of withholding allowances you claim on your W-4?
3.) Does the number of withholding allowances you claim on your W-4/State forms have to match the the number of personal exemptions on your tax return?

2007-07-18 01:21:40 · 4 answers · asked by ♪ La La La Not Listening... 3 in United States

2007-07-18 01:14:03 · 3 answers · asked by Stephen B 1 in United States

2007-07-18 00:49:13 · 15 answers · asked by Deepak 1 in India

I recieved a letter that says

"The exemption is allowed under California law (Revenue and Taxation Code Section 218) and when granted will reduce the taxible valuation of your property by at least $5600 each and every year that you own and live in your property. This will reduce your annual tax bill from it's current level."

The advantage of doing this is for $25.00 it will lower my property taxes every year but is there any disadvantages? There are no plans on renting or selling my house nor do I do any business from home.

2007-07-17 22:30:13 · 3 answers · asked by stolsai 5 in United States

my employer is taking over 10%

2007-07-17 20:52:31 · 5 answers · asked by maria c 1 in United States

My "AROP" stands for "Account Receivable Control Options Table". I think it is a kind of tax (or tax refund). What is it and how do you get it??? Is it a kind of tax refund for senior citizens??? Pls help~! Thanks in advance!!

2007-07-17 20:42:13 · 1 answers · asked by bluesky 1 in United States

but its for this year.why if i have until31.03.08 to pay for it have i received this summons?

2007-07-17 19:50:59 · 11 answers · asked by Anonymous in United Kingdom

Say if I donated money to walter reed army hospital or my local school to help fund them. Could I use that to lower my income taxes? If yes, how would it work?

2007-07-17 19:27:28 · 5 answers · asked by gotagetaweigh 4 in Other - Taxes

should the goverment stop all taxation on the basis that if you need any ameneties then you can pay for them

2007-07-17 19:00:38 · 5 answers · asked by silverfoxcb7 3 in United Kingdom

Can you file taxes, if you worked under other name, w2’s 1099, have someone else names but that person is me. I worked with other name, all I want is to pay taxes, because under my real name there are no earning and I sort of want to fix this problem what can I do? Does the irs will let me claim those earnings, and pay them back even though that is a name I made up?

2007-07-17 19:00:01 · 3 answers · asked by mdfrca7 1 in United States

If you work downtown and use the parking meters instead of the ramps, can you claim that on your taxes or do you actually have to use the parking ramps? Does anyone know the answer to this? And should your employers remiburst you or at least help you with a fraction of the cost?

2007-07-17 18:33:05 · 3 answers · asked by Anonymous in United States

My father is giving me 10000$ cash as gift per year since last 5 years. If I deposit this money in the bank now will I run in to a problem? How much tax is gonna be involve in it?

Another question, If he wants to give me ONE MILLION $ how much gift tax is gonna be there and what documentation will be required?

2007-07-17 16:53:59 · 2 answers · asked by SheLady 2 in United States

My fiancee has the higher gross income. We have 2 children together and we are trying to figure out the most beneficial way to file our taxes for 2006. It looks like the best way is for me to claim our 2 children, even though he has the higher adjusted gross income. With me claiming the children and using H&R Block online tax software I get a substantial amount more money back than he would. Therefore, am I permitted to claim the 2 children instead of him and claim them for the EIC? I just want to make sure that we file everything correctly. Thanks for any help in advance.
PS: We even used the IRS EIC Assistant to figure out the EIC information for us too and it matched the H&R Block software results fairly accurately. It looks like it should be fine to file this way but I just want to be safe that we are filing properly to ensure maximum benefits.

2007-07-17 16:21:04 · 7 answers · asked by Anonymous in United States

do i still need to file a tax return if a get a job in December? or do i pay taxes for income earned between april 2007 - april 2008?

2007-07-17 16:14:48 · 5 answers · asked by Anonymous in United States

I have 2 rental properties. One that will be profitable this year and one that will definitely not. Will the losses on one wash/negate the gain on the other or is the gain taxed as income and the loss just deducted. Please help. Thanks!

2007-07-17 15:54:58 · 3 answers · asked by TheHopper 1 in United States

2007-07-17 15:30:44 · 2 answers · asked by Steven 1 in Other - Taxes

I want to sell some stock in my Roth and recognize some capital gains. I also want to immediately buy the stock back in a regular brokerage account. Are there any rules against this? If not, seems like a great idea to lock in those gains in an account where you don't pay any capital gains tax.

If you are allowed to do this, it seems like you can abuse it. Example: in illquid stocks with a wide bid-ask spread, one can sell and buy at the same time using one's own tax-advantaged account and regular brokerage account-recognizing the gains in the IRA and the losses in the regular one.

2007-07-17 15:30:11 · 3 answers · asked by doublet732 1 in United States

This words is used when the godds are imported

2007-07-17 14:39:28 · 3 answers · asked by k_vimal 1 in Other - Taxes

For instance a Real Estate Agent, they work on comission and if they were to recieve a letter from the IRS notifying them that their wages will be garnished can they take the money they make off comission?

2007-07-17 13:47:50 · 6 answers · asked by Anonymous in United States

2007-07-17 13:28:11 · 9 answers · asked by Anonymous in United States

Although I am paying income tax on my pensions, would it not be loyal of me to put myself down before I start to cost the N.H.S. money? At present I work out three times a week at the gym to try and keep fit. However, I feel guilty at taking a state pension which the Government could put towards the olympic games.

2007-07-17 13:14:15 · 16 answers · asked by LEONARD W 4 in United Kingdom

I work a full time job and have a decent extra income. Should I get a federal Tax ID??? Do I need to be making a certain amount before its necessary to have one?

2007-07-17 13:01:17 · 5 answers · asked by yo 2 in United States

2007-07-17 12:47:39 · 5 answers · asked by K F 1 in United States