Taxes - July 2007

Explain how the federal income tax structure impacts a business decision to finance with use of debt vs. equity.

2007-07-15 13:57:46 · 3 answers · asked by Sabrina W 1 in United States

I heard that they are deductible but I have also heard they aren't. Thanks.

2007-07-15 13:55:52 · 3 answers · asked by hubasket 3 in Other - Taxes

I received IRS notice that someone submitted additional W-2 form under my name. How can I find out the proof who submitted?

2007-07-15 13:49:34 · 7 answers · asked by Lin H 2 in United States

I am hoping that I won't get hit with a huge tax bill at the end of the year. Also- can I make deductions for travel expense, clothing, cell phone, etc.?

2007-07-15 12:47:22 · 1 answers · asked by Rara 2 in United States

I owe lots off tax money ,No money to pay

2007-07-15 12:26:48 · 3 answers · asked by frostman 1 in United States

Is a business suit tax deductible?

2007-07-15 11:52:23 · 7 answers · asked by Anonymous in Other - Taxes

I can understand why, when dealing with variable taxes (such as with buying things over the internet), it makes more sense to list the price of an item before taxes, but when you are buying items in a physical store, with one set tax on items, it makes more sense to me that the price after taxes should be shown (not a problem here in NH unless I'm buying food, but it gets annoying when traveling through other states). Is the only reason for this so that businesses can rip off customers by hiding the real cost of the item, or is there a better reason for it?

2007-07-15 11:01:48 · 2 answers · asked by ILookGuilty 3 in United States

For which of the following taxes is there no ceiling on the amount of employee annual earnings subject to the tax?
FICA tax
federal income tax
federal unemployment compensation tax
state unemployment compensation tax

2007-07-15 10:54:17 · 4 answers · asked by Anonymous in United States

I filed the 2006 return but the mutual funds weren't sold until 2007 and there will be some capital gains.

2007-07-15 10:39:15 · 6 answers · asked by Bruce L 1 in United States

2007-07-15 10:12:32 · 4 answers · asked by Anonymous in United Kingdom

But when it comes time for me to use it in 2055 the system will be broke. so shouldn't I be excused from paying for it?

2007-07-15 09:35:11 · 9 answers · asked by Anonymous in United States

I am currently on maternity leave, my baby is due July 18th 07. I am aware that I will be on maternity leave for 39 weeks. My question is if i want to work part time, say when my baby is a few months old (as I have to pay bills still, and really can't survive on maternity pay) is this legal? Can I have a part time job elsewhere and still have maternity pay? Or do i need to inform my employer or quit with them first??? Any help would be great!

2007-07-15 09:19:57 · 4 answers · asked by bsb8721481 2 in United Kingdom

My Dad passed away in 2006, but had a revocable living trust prepared in 2001 that is in both parent's names. I am successor trustee and P.O.A. Since my Mom is incapacitated, I have been doing everything for my Mom. The Trust doesn't have its own tax ID number, just using my Mom's SS # for anything regarding the Trust. I am assuming that without a tax I.D. number for the Trust, then everything that I inherit will get taxed under my SS# probably meaning high taxes for me and possibly affecting my daughter's financial aid for college, if this happens within three years. There are only a few assets listed in the trust now with the rest listed in my Mom's name. Should I apply for a tax I.D. number for the trust now, and also change the assets listed in my Mom's name to be in the Trust name? How difficult is it to do these things?

2007-07-15 09:04:25 · 2 answers · asked by Anonymous in United States

Hi,

I put some money in Dependant Healthcare FSA assuming that my hubby is considered as dependant if he is on my health plan. Now I am told dependant is only children under 18 or anyone staying with you - older person. Is there anyway I can claim this money?

I am told there are some exceptions.

2007-07-15 08:34:15 · 2 answers · asked by Jodi 1 in United States

2007-07-15 07:40:00 · 5 answers · asked by violaduran2003 1 in United States

2007-07-15 07:29:45 · 1 answers · asked by Anonymous in United Kingdom

I'm not clear - when your earned income goes into the next tax bracket, does that mean ALL your earned income is taxed at the higher rate or just the amount inside the new bracket?

2007-07-15 07:18:29 · 5 answers · asked by Paradox 3 in United States

How much would I get paid if I worked 71.5 hours with a 6.85 an hour? I know how much I would without taxes($548) but how much would be left when they take money out for taxes? Last check I worked 40 hrs and got paid orginally 274 before taxes but after I got 243. Im 17 years old. Can anyone help me?

2007-07-15 07:10:06 · 3 answers · asked by *GlensBayB* 2 in United States

While reviewing my 2006 taxes, I realized that I made a mistake regarding the information from my 1099B form. This resulted in my overpaying. What form should I fill out to inform the IRS of this and get a refund? Thanks in advance for your assistance.

2007-07-15 07:06:00 · 2 answers · asked by Freddy Finger 3 in United States

globalmaxdeliveryltd operation manager mr.clive ferguson is two time sending money vat tax insurance delivery charge & inland revenue new demand for cross border permit what this is true are foals. His email address use your company what this status.
Please urgent reply my mail address-dr.umakant_106@yahoo.co.in

2007-07-15 06:00:56 · 4 answers · asked by Dr.Umakant T 1 in United Kingdom

What is the taxable difference in selling my stocks purchased via ESPP now, or in two years in the state of California?

I'm sure there are many factors, and I am willing to look them up, so even a pointer at where I can get this information would be helpful.

The ESPP stock purchase just happened. I know that selling them now is considered a disqualifying disposition. I know that I must retain them for a period of two years.

I made something like 70% on top of my contributions, so it seems very wise for me to just sell it, and take the additional tax implications, but I am curious as to what the difference might be, if I hold it for the two year.

2007-07-15 05:37:17 · 2 answers · asked by dugrocker 2 in United States

I live in CT. If i were to win 10 million dollers this year. How much would i have left after paying state and federal taxes.

2007-07-15 05:03:28 · 1 answers · asked by michael r 2 in United States

What happens to all the captial gains/losses from a 401k account. For example, say you start contributing to a 401k when you are 25 years old for 20 years and do the reallocating of assets (stock, bonds, fixed investments, matching stocks). I know while you have the 401K active, as long as the transaction is in a 401k, it's a non tax event. But what happens when comes time to cash in the 401K? Does the history of gains/losses count? To give a particular example, let's say right now, I have assets as stock funds, bond funds, interest income and company matching. Before I cash it out, I transfer everything to interest income for safety. How then does the taxes get treated? thx

2007-07-15 04:43:48 · 5 answers · asked by QueAndAy 1 in United States

2007-07-15 04:19:12 · 3 answers · asked by Anonymous in Other - Taxes

self employed as an estimator/ designer (electrical) working from home most of the time with a couple of trips to the main office a week.

2007-07-15 04:18:59 · 5 answers · asked by peter e 1 in United Kingdom

I am self employed and owe 15k in back taxes and was wondering if those "settle your tax bill for pennies on the dollar" firms work or not. I know they use a legitamate IRS action to do it called an Offer in Compromise, but is it worth paying a company to do it when I cold possibly do it myself?

2007-07-15 04:02:37 · 3 answers · asked by outofsorts2 2 in United States

Is it just 17.5% on whatever is declared at Customs? or is it more complex than that?

2007-07-15 03:12:26 · 3 answers · asked by ediblefrogribbit 1 in United Kingdom

I am having less salary and i want to save money so that i can take after 3yrs for my kids education and home.Any tax benefit plans like 401k.

2007-07-14 21:49:04 · 3 answers · asked by tulip 1 in United States

last year(2006) my ex-husband files his taxes and claims that our son worked for him and my ex compensate him for $14,000.00. which is absolutely not true. my son didn't even work for him a day. he just did it so he doesn't have to pay a lot of tax. also my son filed his income tax and didn't file the $ 14,000.00. now my son gets a letter from IRS that he has to pay $4,000.00 tax on that. my son is 24 yrs old and works at the bank and he asked around and finaly one of the bank customer that knows a little about acounting, tells him he knows it's not true and knows that is not his foult but he has to pay that amount. Also my son feels bad to tell his father to pay the tax and doesn't have the money to pay it. pls help i need a proffetional opinion.

2007-07-14 21:38:39 · 7 answers · asked by Saba 1 in United States

does anyone know what the overtime taxes are for nebraska(omaha) and what regular taxes are for nebraska?(omaha), also federal tax.

2007-07-14 20:36:24 · 2 answers · asked by sweetgiggles1225 1 in United States